RBI denied the permission to WhatsApp to go live for full Scale UPI operation.

The Reserve Bank of India (RBI) has said to the Supreme Court that it has denied the permission to WhatsApp to go live for full scale operations on the Unified Payments Interface (UPI) payment system and RBI also denied that its circular on April 6, 2018 on “Storage of Payment System Data” has been toned down by FAQs issued on June 26, 2019.

The RBI told that “concerned that WhatsApp was storing some payment data elements outside India beyond the permitted timelines indicated in the circular and the Frequently Asked Questions on ‘Storage of Payment System Data’ issued by RBI on June 26, 2019.”

The Permission for UPI payments was granted to WhatsApp by the National Payments Corporation of India (NPCI) after compliance with the regulatory norms.

In the case of Centre for Accountability for Systematic Change (CASC) v. Union of India, the RBI states,
“RBI always weighs and explores the available regulatory options to ensure expeditious and complete compliance with the circular requirements and has been continuously taking up the matter with NPCI, which has resulted in the compliance from WhatsApp.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s