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From Ambani To Amazon, FOMO Drives NUE Applications As Deadline Ends
While NUEs and NPCI will have similar roles, the key differences would lie in what extra services they offer and who owns them.
31 Mar 2021, 11:53 AM IST i

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Passengers completely cover a crowded commuter train in the northern Indian state of Bihar February 19, 2003. Photographer: Sunil Malhotra/Bloomberg News
Everyone wants in — from Mukesh Ambani’s Reliance Industries Ltd. to Jeff Bezos’ Amazon.com Inc.; from card companies to banks. The fear of missing out on the surge in retail digital transactions in India has prompted a motley crew of organisations to come together and apply for ‘New Umbrella Entity’ licences, the deadline for which ends on March 31, 2021.The NUE—seen as a competitor to the National Payment Corporation of India — wil...

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