09-August-2020
Corporate News
 
Not allowed WhatsApp to go live for full-scale UPI operations: RBI tells Supreme Court
01-Aug-2020

The Reserve Bank of India has told the Supreme Court that it hadn’t permitted WhatsApp to go live with full-scale payment services on the Unified Payments Interface (UPI) system. The banking regulator said it was concerned that WhatsApp was storing some payment data elements outside India beyond the timelines permitted in its June 26, 2019 circular. The central bank said it had advised the National Payment Corporation of India (NPCI), which manages the UPI system, to not permit WhatsApp to launch full-scale payment services till the time it fully complied with the rules.

News Source:- https://economictimes.indiatimes.com/industry/banking/finance/banking/not-allowed-whatsapp-to-go-live-for-full-scale-upi-ops-rbi-tells-sc/articleshow/77291097.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23