{"id":51320,"date":"2021-09-03T07:01:20","date_gmt":"2021-09-03T07:01:20","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=51320"},"modified":"2021-09-03T07:01:21","modified_gmt":"2021-09-03T07:01:21","slug":"rbi-to-setup-committee-on-nue-licenses","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-to-setup-committee-on-nue-licenses\/","title":{"rendered":"RBI to setup committee on NUE licenses"},"content":{"rendered":"\n<p>The\u00a0<strong>Reserve Bank of India (RBI)<\/strong>\u00a0will set up a committee to scrutinize applications and give recommendations on\u00a0<strong>New Umbrella Entity (NUE) licenses.<\/strong>\u00a0The 5 member committee will be headed by\u00a0<strong>Shri. P. Vasudevan.<\/strong>\u00a0The committee will be responsible for looking into several aspects of NUE, from the macroeconomic impact of such a step to the security risks. The committee\u2019s recommendations will be taken into consideration before doling out the licenses.<\/p>\n\n\n\n<p>The\u00a0\u00a0(RBI) will set up a committee to scrutinize applications and give recommendations on new umbrella entity  licenses, people aware of the development said. The five-member committee will be headed by RBI chief general manager P Vasudevan, they said.<\/p>\n\n\n\n<p>NUEs will establish their own payment infrastructure to compete with the\u00a0<strong>National Payments Corp. of India (NPCI).<\/strong>\u00a0The government hopes to build a settlement system similar to the unified payments interface (UPI) with the NUEs. The system will be focused on small and medium enterprises, merchants and consumers. The RBI had in August 2020 issued guidelines for creating \u201cfor-profit NUEs\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Reserve Bank of India (RBI)\u00a0will set up a committee to scrutinize applications and give recommendations on\u00a0New Umbrella Entity (NUE) licenses.\u00a0The 5 member committee will be headed by\u00a0Shri. P. Vasudevan.\u00a0The committee will be responsible for looking into several aspects of NUE, from the macroeconomic impact of such a step to the security risks. The committee\u2019s recommendations [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":51321,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1417],"tags":[1095],"class_list":["post-51320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-september-2021","tag-rbi"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=51320"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51320\/revisions"}],"predecessor-version":[{"id":51322,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/51320\/revisions\/51322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/51321"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=51320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=51320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=51320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}