Facebook, Google, and Infibeam have partnered with Reliance Industry to introduce a digital payment network in India. To create a competition for NPCI, India’s central bank invited companies to set up new umbrella entities, to reduce concentration risks in the space. An Assocham-PWC India study said, there could be a rise to  $135.2 bn in digital payments in 2023. The RBI extended the last date for proposal submission for NUE applications to March 31.

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