Yesterday, grocery delvery startup Grofers announced that it is partnering with YES Bank where it would allow customers to request for a POS machine on delivery to withdraw cash. However, it is contingent on a customer ordering from the service and entering a code to get cash at POS. An earlier report from PTI mistakenly stated that customers will have to make a minimum order of Rs 2,000 on the website or app. YES Bank and Grofers later clarified that there is no minimum order for requesting the POS machine. But it seems the they are still in violation of Reserve Bank of India norms where it says that a customer will be allowed to avail cash at POS regardless of whether they make a purchase at a store. Such cash withdrawal facility may be provided by banks subject to following conditions: The facility is available irrespective of whether the card holder makes a purchase or not. In case the facility is availed along with the purchase of merchandise, the receipt generated shall separately indicate the amount of cash withdrawn. A Change.org petition points out that with Grofers making sure that there is a purchase order for availing cash at POS, it is making cash a commodity to be sold. The petition is also asking the Reserve Bank of India (RBI) to issue clear instructions to banks saying that cash is not a commodity to sell in business partnerships. Albinder Dhindsa, co-founder of Grofers sent a statement to MediaNama which said…
- Here’s what streaming companies revealed in their compliance reports for Oct 2022 December 2, 2022
- FRT-based Digi Yatra project begins in three Indian airports on opt-in basis December 2, 2022
- Spotify CEO calls Apple “Shameless” For Engaging In Anti-Competitive Practices December 2, 2022
- Madhya Pradesh HC Grants State Government 3 Months to Draft and Clear Online Gambling Law: Report December 2, 2022
- Meta’s Nick Clegg Flags Encryption Concerns, Praises India’s Stance On Cross-Border Data Flow December 2, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...