The Reserve Bank of India informed Delhi High Court that Google Pay is a third party app provider and does not operate any payment system; therefore its operations does not amount to violation of any provisions of the Payment and Settlement System Act of 2007; RBI informed the bench of Chief Justice DN Patel and Justice Prateek Jalan. RBI also informed that Google Pay is not listed in authorized payment system operators published by (NPCI) National Payments Corporation of India.
The RBI submissions came in a response to the PIL by the economist Abhijit Mishra who alleged that Google Pay was facilitating financial transaction without prior authorization from RBI. The bench informed that the matter needs a detailed hearing and listed it on July 22.
(By – Siddharth Addy)