IT Ministry Framing Guidelines For Digital Payments
The Ministry of IT and Electronics (MEITY) is working on detailed guidelines on digital payments to ensure protection of consumers.
Representative image. (Photo: Reuters)
New Delhi: The Ministry of IT and Electronics (MEITY) is working on detailed guidelines on digital payments to ensure protection of consumers.
"MEITY is working on comprehensive guidelines for digital payments to protect consumers. It will also look at making
merchants and vendors involved in digital payment ecosystem act with responsibility," an official source told PTI.
At present, there are no specific guidelines on digital payments and no regulator to ensure fair play in the segment.
"There are general rules under which liability can be fixed on stakeholders within digital payments but nothing specific to digital payments. There are various factors being looked at including service quality and grievance redressal under single framework," the source said.
Government has been pushing digital payments to curb flow of blackmoney and fake currency. Various modes of digital
The digital payment platforms are governed by rules notified by the Reserve Bank of India, IT Act and other related laws.
However, like banking, insurance, telecom etc, the digital payments segment has no mechanism for consumer grievance redressal or ombudsman.
The source said the guidelines are likely to be framed using existing rules for which a detailed study is being
conducted by MEITY.
"The draft may be placed on MEITY website for public comments soon," the source added.
Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!
*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
Recommended For You
- Bumrah Bowls the Best Yorker in World Cricket Currently - Akram
- Imam & Hafeez Half-centuries Help Pakistan Sink South Africa in Opener
- AutoSpace - Best of the Week: NGT Slams Volkswagen, New Wagon R Bookings Open and More
- Need to Focus on Alternative Fuels: Union Minister Nitin Gadkari
- The 10 Year Challenge on Facebook: Intelligent Algorithms Aside, Are we The Product, Again?
- 01 d
- 12 h
- 38 m
- 09 s