Reliance Plans To Make Digital Payment Network; Pacts With Google, FB
Reliance on participation with Google, Facebook, and Infibeam is working to create a national digital payment network. While the current digital payment sphere is monopolistically enjoyed by the National Payments Council of India, the development was invited by RBI to minimise concentration risk in digital payments. The RBI also furthered the deadline for NDPN parties from February 26 to March 31. Reportedly, NPCI deals with bank, ATM and digital transactions.