What is going on with social media regarding Google Pay Ban? Is Google banned? On Friday evening of June 26, the trend started on Google. Three hashtags associated with it were trending. #GPayBanned By RBI, #GPay Is Illegal, and #Google Pay.
|Is Google Pay Banned By RBI|
Some people started running hashtags saying that Google Pay has been banned in RBI. At the same time, some people said that Google pay is illegal. The tweeters of this hashtag also shared links to some news. So, is Google Pay banned by the RBI? Where did these things arise? Why are such things being discussed via web-based networking media?
On 20 June, news agency PTI was quoted by several media institutions as publishing a news report. It said that the RBI has told the Delhi High Court that Google is not a payment system operator. On 26 June, those running the hashtag shared the connection to this news.
What was in the news of PTI.
According to PTI’s news, the Reserve Bank of India, i.e. the RBI told the Delhi High Court that Google is a third-party app private and does not operate any payment system. The RBI told the bench of Chief Justice of B.N. Patel and Justice Prateek Jalan that this would, therefore, violate the Payment and Settlement System of 2007. RBI also told the court that Google Pay was not included in the list of authorized payment system operators of the National Payments Corporation of India.
Surely, business analyst Abhijeet Mishra had asserted in a PIL that Google’s versatile installment application, Google Pay, or G Pay for short, was encouraging budgetary exchanges without endorsement from RBI. In light of this appeal, RBI said this. Mishra has guaranteed that G-Pay is going about as an installment framework supplier disregarding installment and settlement laws. However, it does not have any valid permission from the central bank of the country for such works.
The bench said that a detailed hearing of the case is needed as it affects the app of other third parties. The following knowing about the case will be hung on 22 July. Then the messages of Bain started running. After this, things started happening on social media that the transaction of money through GPay is not according to the law because it is an unauthorized app.
After this, cleanliness came from Google. According to PTI, a Google spokesperson said that in some places in social media, it has been claimed by wrongly quoting RBI that the transaction of money through Google Pay is not according to the law because this app is unauthorized. This is incorrect and its truth can be found on the NPCI website.
A Google representative said that the RBI has not said any such thing in the court hearing. Not long ago, the RBI told the Delhi High Court that Google Pay is an outsider application supplier and doesn’t work any installment framework. He likewise said that its activity isn’t infringing upon the Payment and Settlement Systems Act of 2007.
On June 24, a tweet from Google Pay India. All exchanges done through Google Pay are completely ensured by the political decision systems set somewhere around the pertinent rules of RBI NPCI. Clients can get to 24 hours seven days for any assistance through Google Pay Customer Care.
Another tweet said that Google Pay operates completely within the ambit of the law. We work as a technology service provider for partner banks to make payments through UPI. UPI apps in the country are classified as third-party apps. They do not have to be payment system operators.
After the trend of Google Pay on June 26, Google India once again tweeted that news and presented its stand. Google says that users should not believe WhatsApp powered messages. Like other payment apps, the transaction is completely safe on Google Play.