Citing that privatisation
could compromise data safety, the central bank has been asked by a union
representing India's largest state-run bank and a global alliance to bar large
companies from setting up payment networks.
Tata Group, TCS Can Launch UPI Alternative & ATM Network! SuperApp's Own Payment System?
After Reliance Jio and the State Bank of India now, Tata groups is also planning to build a new mass-market payments entity that would rival…
HDFC Bank plans to set up a pan India umbrella entity to boost retail payment in the country.
On August 18, the regulator bank RBI released the framework for authorizing umbrella entities for retail payments, pan-India.