RBI publishes draft framework for new payment system

The central bank has invited comments on the draft framework from all stakeholders by February 25.

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan India umbrella organization for retail payment systems.

An umbrella organization for retail payment systems could come up soon. Re (REUTERS)

The central bank has invited comments on the draft framework from all stakeholders by February 25.

At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.