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    NPCI considering ways to tighten non-compete clauses to contracts of senior, mid-level employees

    A source within NPCI said that the attrition rate within the payment corporation is much lower than the industry.

    Synopsis

    “The payments corporation is offering retention bonus to senior staff and has taken a legal opinion on whether they can enforce the non-compete clause in their contracts if they join rival NUE entities,” said an official, who didn’t want to be named as the talks are private.

    Mumbai: The National Payment Corporation of India (NPCI) is considering ways to tighten and widen non-compete clauses and retention bonuses to the contracts of several senior and mid-level employees ahead of the entry of rival private players under RBI's new umbrella entity (NUE) framework.The Mumbai-based nonprofit, credited with developing key digital payment networks such as Unified Payments Interface (UPI) and RuPay, faces an increase in
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    The Economic Times