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RBI Updates: Open To Raising $3000 Cap On Global eCommerce Deals, Migration To IPv6

The Reserve Bank of India (RBI) has conveyed the message that it is open to looking at increasing the limit on international e-commerce transactions, which is currently set at $3,000,according to a PTI report (via The Hindu), which quotes RBI Executive Director G. Padmanabhan. “If the system wants the limit to be enhanced, that is something that we are positively inclined to look at,”  said G. Padmanabhan during a CII event. Padmanabhan said that the limit was set in consultation with PayPal, a major player among the international payment gateways, and added that as many as 99% of the e-commerce transactions fell under the limit of $3,000. The reason, according to him, for setting the limit (there are no limits for domestic e-commerce transactions), was that India had exchange controls in place. As previously reported, the RBI had initially set the limit at $500…

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Werner Egipsy Souza, has worked across both rural and urban geographies, across India, hence there is a keen interest to develop solutions around improving quality of life, where key day to day problems in the Indian subcontinent, such as potholes, mobile phone non-voice communication are addressed.

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