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Does Google Pay need the RBI’s approval to operate in India?

The Delhi High Court on Wednesday asked the Reserve Bank of India how Google Pay was operating in India without its approval, PTI reported. The court was hearing a petition that claimed Google Pay had violated the Payments and Settlements Act as it did not figure in the RBI’s list of authorised payment system operators released on March 29. The petition also raised privacy concerns, claiming that Google Pay “has un-monitored and unauthorised access” to personal information such as Aadhaar and PAN numbers, and details of people’s financial transactions. The court issued notices to the RBI and Google India and said it would next hear the case on April 29. Note that the order hasn't been uploaded yet on the Delhi High Court website In response to the High Court notice, a Google spokesperson said Google Pay “operates as a…

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