RBI issues draft framework for alternative retail payments system
"The promoter or promoter group shareholding shall be diluted to a minimum of 25 per cent after 5 years of the commencement of business of the NUE. A minimum net-worth of Rs 300 crore shall be maintained at all times," the RBI said on Tuesday.
Reserve Bank of India on Tuesday published the draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems, Photo: Reuters