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    Tatas plan to take head on Reliance Jio and SBI, to setup retail payments network

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    The Tata Group has joined the likes of Reliance Jio and the State Bank of India in the race to build a new mass-market payments entity that would challenge the existing non-profit monopoly, the National Payments Corporation of India(NPCI). Under the central bank's New Umbrella Entity (NUE) licence framework, applications given the green light by Mint Road can own and operate a pan-India retail payments network.

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