RBI to set up a five-member panel on new umbrella entity licenses

Category : Business and economics Published on: September 03 2021

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· The Reserve Bank of India (RBI) has constituted a five-member committee to review applications and make recommendations on New Umbrella Entity (NUE) licences.

· The five-member committee will be headed by RBI Chief General Manager P Vasudevan.

· The new umbrella entities will set up their own payment structure to compete with the National Payments Corporation of India (NPCI).

Important facts:

About RBI

v The First Governor of RBI was Sir Osborne Smith and the First Indian Governor of RBI was CD Deshmukh.

v The First woman Deputy Governor of RBI was KJ Udeshi.

v The only Prime Minister who was the Governor of RBI was Manmohan Singh.

v Present Governor of RBI: Shaktikanta Das.

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RBI to set up a five-member panel on new umbrella entity licenses

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RBI to set up a five-member panel on new umbrella entity licenses

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