Google, Facebook, Amazon mull options for rival to NPCI

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The plan for setting up institutions similar to the National Payments Corporation of India (NPCI) are still only on paper. The Reserve Bank of India (RBI) has merely issued guidelines for setting up of a pan-India new umbrella entities (NUE) for retail payment systems.

Yet, works were afoot by big players like the Reliance Group and Tatas to set up their own payments network. A couple of banks like the SBI and HDFC had also reportedly shown interest in such a network.

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