Quick Summary
Reserve Bank of India
Date : Feb 26, 2021
Reserve Bank had released the framework for authorisation of pan-India Umbrella Entity for retail payments on August 18, 2020 and invited applications from desirous entities. Given the process involved for complying with the framework prescriptions, a timeline of six months was provided therefor, i.e., up to February 26, 2021.
2. Requests have been received from various stakeholders including Indian Banks’ Association for extending the timeline, keeping in view the COVID-19 related disruptions and inconveniences. It has been accordingly decided to extend the timeline for making the application up to March 31, 2021.
Ajit Prasad
Director
Press Release: 2020-2021/1161
FAQ :
The deadline for applications has been extended to March 31, 2021.
The deadline has been extended due to requests from stakeholders, citing COVID-19 related disruptions and inconveniences.
The framework was released on August 18, 2020.
The original deadline for applications was February 26, 2021.
CAclubindia
Guest
Notification No : PR : 2020-2021/1161Published in Community & General
Source : https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=51188