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Delhi HC Asks RBI And ED To Respond To Petition Claiming PayPal Running India Operations Illegally
The Delhi High Court bench comprising Chief Justice D N Patel and Justice Hari Shankar has asked the Reserve Bank of India and the Enforcement Directorate (ED) to submit their replies to a plea claiming that US-based payment company PayPal was running its operations in India illegally, reports The Hindu.
The proceedings were initiated by an economist, Abhijit Mishra, who stated that the company was functioning in “blatant violation of the “Payment and Settlement Systems Act, 2007"
“PayPal Payments Private Limited is not mentioned on the list of ‘Payment System Operators’ as authorised by the RBI to set up and operate in India under the Payment and Settlement Systems Act, 2007,” claimed the petition filed by Mishra.
The petition added that the unlawful operations of the company in India had given it “unmonitored and unauthorised” acces to private information of its users like their Aadhaar and PAN details.
The petition calls of an official probe into the activities of PayPal in India.
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