Paytm NUE licence consortium most diverse: Vijay Shekhar Sharma

The NUE, whose idea was floated by RBI in August last year, is an alternative to the NPCI, which is the sole entity that manages retail payments right now

Paytm's consortium for applying for the New Umbrella Entity (NUE) licence is the "most diverse", according to Paytm founder and CEO Vijay Shekhar Sharma. 

The NUE, whose idea was floated by the Reserve Bank of India in August last year, is an alternative to the National Payments Corporation of India, which is the sole entity that manages retail payments right now. The new entity has seen interest from the likes of Reliance, YES Bank, Paytm, Ola Financial among others. 

So far, there are six consortia that have bid for the NUE. Paytm has a consortium with Ola Financial, IndusInd Bank,