RBI orders online marketplaces to settle seller payments in 2 days
By MYBRANDBOOK
Reserve Bank of India (RBI) has mandated e-commerce firms to clear seller payments within two days from the date of intimation of the completion of transaction.
In response to a news portal, RBI’s makes it clear that the completion of transaction here means the act of making the payment, to which presently, the majority of e-commerce companies take a week to 15 days to settle payments to sellers.
It is reported that the online marketplaces have been ordered to follow the 2009 guidelines pertaining to the settlement of payments for electronic transactions involving intermediaries by RBI.
As per the latest new reports, this action is in response to a recent complaint filed by the All India Online Vendors’ Association regarding delayed payments from e-commerce companies.
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
MEASURE AND IMPROVE YOUR SECURITY POSTURE WITH KEYSIGHT
Is your security team prepared for the next cyber-attack? Are your security
HPE Aruba Networking bridging the physical and digital worlds
The information technology industry is a critical component of the 21st cen
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
FIREBOLTT
ZOHO CORPORATION PVT. LTD.
BHARAT ELECTRONICS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla’s return to Vodafon...
Technology Icons Of India 2023: Girish Mathrubootham
Girsh Mathrubootham envisioned and co-founded Freshworks. Freshworks, ...
Technology Icons Of India 2023: Anant Maheshwari
As President of Microsoft India, he is responsible for Microsoft’s o...
PARTNER SPEAKERS
PSU
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
BBNL empowering rural India digitally
BBNL provide high speed digital connectivity to Rural India at afforda...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
VIDEOS
Top 25 Brands
Value-Added Distribution
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
