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Google Pay isn't a payment system administrator yet just a Third-Party App Provider, Reserve Bank of India has expressed before the Delhi High Court. (Abhijit Mishra versus RBI and Ors)
The announcement frames some portion of RBI's affirmation documented in a PIL looking for a heading to the Reserve Bank of India to promptly stop the "unauthorized operation" of Google Pay in India.
Petitioner Abhijit Mishra had guaranteed that the activity of Google Pay as an 'Payment and Settlement System' couldn't be permitted since it is an unapproved element as far as section 4(1) of the Payment and Settlement Systems Act, 2007 (PSS Act).
It was expressed that Google Pay didn't include in RBI's rundown of approved 'Installment System Operators' in India and was additionally infringing upon a few arrangements under the PSS Act.
The petitioner had likewise attested that Google Pay was totally in disobedience of Section 15 (4) of the Ombudsman Scheme for Digital Transactions, 2019 as it had not designated any Nodal official.
Notice in the petition was given in April a year ago. Responding to the appeal, RBI has expressed that PIL is silly, misjudged and without merits. Informing that Google Pay was not a payment administrator, RBI has explained that PSS Act and the offenses under it would not be relevant to it. The Court was informed that Google Pay was a Third-Party App Provider with four sponsor banks and consequently didn't require any enrolment under PSS Act. RBI included that therefore Google Pay does not come under the ambit of Ombudsman Scheme for Digital Transactions, 2019.
Notwithstanding, the four banks were secured by the Banking Ombudman Scheme 2006, it said.
In spite of the Petitioner's declaration, RBI further expressed that according to National Payments Corporation of India's correspondence, Google Pay was completely consistent with the prerequisite of RBI roundabout on capacity of information identified with the payment framework in India itself.
Taking into account the abovementioned, RBI has encouraged the Court to dismiss the petition.
The matter would be heard next on July 22.
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