Some observers might see the Facebook-Reliance Jio move as threatening UPI and Indian public infrastructure, but in fact, this is exactly what is being encouraged by the government.
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The Facebook-Jio deal may create competition in India’s e-payments—just like RBI wanted
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In February, the Reserve Bank of India (RBI) released draft guideines for a “New Umbrella Entity (NUE) for Retail Payments,” which opened the doors for a parallel payment infrastructure to the National Payments Corporation of India (NPCI)-operated UPI.
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