wordpress blog stats
Connect with us

Hi, what are you looking for?

TLDR: RBI’s NUE framework led to concerns among payments industry, BigBasket to offer one-hour delivery, free TV shows on YouTube, and more

Payments industry raises concerns over RBI's draft NUE framework In their responses to the Reserve Bank of India’s (RBI) draft framework on new umbrella entities (NUEs) for retail payments, entities in the payments sector took issue with the central bank's move to initiate a licensing process for NUEs before establishing a system of licensing for retail payment systems, according to a Financial Express report. Several other entities said it was a bad idea to exclude foreign players from holding controlling stakes in licensed NUEs, the report said. The RBI had proposed letting other umbrella entities besides the NPCI grab a piece of India’s burgeoning payments market in order to reduce concentration risks and promote competition. Consortiums led by Reliance, Tata, and Paytm were among many others. But the RBI decided to put issuing NUE licenses on hold and set up a five-member committee to study applications and submit recommendations.  Read: New Umbrella Entity: Everything You Need To Know About NPCI’s Potential Rival(s) BigBasket offers one-hour delivery services of 8,000 products E-grocery store BigBasket is ready to launch BB Express, a one-hour delivery service with 7,500-8000 products, according to an Economic Times report. The service is set to go live next month and will be driven by the company's 62 large-scale dark storefronts. Bike will be used for most of the deliveries, the report said. Infosys to buy digital marketing agency for €50 million IT firm Infosys is looking to buy oddity, a digital marketing agency located in Germany, for 50 million euros (about…

Please subscribe/login to read the full story.
Written By

A wandering soul finding solace in the tidbits of life and the little things it has to offer. Follow me on Twitter @realpal21

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ