Tata group may be in talks to set up NPCI counterpart
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India-based multinational conglomerate Tata Group is considering launching a new mass-market payments entity, similar to the non-profit monopoly National Payments Corporation of India (NPCI), which owns hugely successful channels such as UPI and IMPS. The Tata Group is said to have already initiated talks with RBI seeking a New Umbrella Entity (NUE) licence that allows the companies to own and operate a pan-India retail payments network.