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'New Umbrella Entity (NUE)' recently in the news, is associated with
  • a)
    a new regulator for higher education in India
  • b)
    a new body under NITI Aayog to regulate NGOs
  • c)
    a new entity to handle retail payments in India
  • d)
    a new entity to regulate loans to farmers
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
New Umbrella Entity (NUE) recently in the news, is associated witha)a ...
As envisaged by the RBI, an NUE will be a non-profit entity that will set up, manage and operate new payment systems, especially in the retail space such as ATMs, white-label PoS; Aadhaar- based payments and remittance services. These entities will be alternatives to NPCI. In addition to this, they will develop new payment methods, standards and technologies, and operate clearing and settlement systems.
Only those entities that are owned and controlled by Indian citizens with at least three years of experience in the payments segment can become promoters of NUEs. Also, foreign investment is allowed in NUEs as long as they comply with the existing guidelines.
Therefore, the correct answer is (c).
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New Umbrella Entity (NUE) recently in the news, is associated witha)a new regulator for higher education in Indiab)a new body under NITI Aayog to regulate NGOsc)a new entity to handle retail payments in Indiad)a new entity to regulate loans to farmersCorrect answer is option 'C'. Can you explain this answer?
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