RBI banned google pay: #GPayBannedByRBI is trending fast on Twitter, claiming that it does not secure transactions, as it has not received legal recognition. Later NPCI tweeted that it is wrong and that the transaction is completely safe.
RBI banned google pay: Has Google Pay been banned by Reserve Bank of India? This question is because ‘GPayBannedByRBI’ is trending very fast on Twitter. In such a situation, it is important for you to know how much truth there is. NPCI has clearly stated that Google Pay has not been banned. NPCI is the only organization that handles digital payments in India.
On Twitter, ‘GPayBanned By RBI’ is trending and it is being claimed that according to the Reserve Bank, Google Pay is not a payment operator. In a statement issued by NPCI, it has been made clear that Google is a payment system operator and it is completely under the legal purview. It is a third-party app provider that works under the UPI framework.
Reserve Bank also did not raise questions
Regarding this matter, the Reserve Bank of India first said in the Delhi High Court that there is no question about the payment system of Google Pay. After that Google Pay said that we are working within the scope of law.
Google Pay also released a statement
Google Pay’s statement came at a time when it was claimed on social media that money transfer is not safe because it is illegal and the app is illegal. The truth of this can be found on the NPCI website.