RBI through press release dated February 26, 2021 has extended the time to make application for authorization as a pan-India umbrella entity for retail payments as per the framework for authorization of pan-India Umbrella Entity for retail payments on August 18, 2020. RBI, considering that the process of application involves complying with the framework prescriptions and keeping in view the COVID-19 related disruptions and inconveniences, has extended the timeline for making the application up to March 31, 2021.
