With Chinese Apps banned in India, is Google Pay too prohibited by the RBI?

A couple of days ago, Indian Government has banned 50+ Chinese apps including TikTok and ShareIt. Recently a news surfaced out that Google Pay has been banned by the Reserve Bank of India. National Payments Corporation of India (NPCI) has clarified that Google Pay has not been prohibited by the RBI.

Fake News on Google Pay being banned

Background

A report from prior this week, wherein a Press Trust of India report cited the Reserve Bank of India as expressing that Google Pay is a third party framework in India, and does not function the payment system. It also said that Google Pay does not made into the list of Payment Gateway Operators in India released by National Payments Corporation of India (NPCI).

Clarification by Google

However Google Team responded and said that Google Pay works totally inside the law. They fill in as an innovation specialist organization to accomplice banks, to permit installments through UPI. UPI applications in the nation are arranged as ‘outsider applications’, and are not required to be ‘installment frameworks administrators’.

All exchanges made by means of Google Pay are completely secured by redressal forms spread out as per by rules of the RBI/NPCI, and clients can connect for any assistance every minute of every day, through Google Pay client care,” the announcement included.

To read more on Fake News, click here.

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