RBI Withholds WhatsApp Pay in India Citing Non-Compliance of Data Laws - hillruslaideemin

Pursual dreaded predictions from 'experts' and persistent skepticism from politicians, the Reserve Bank of India (RBI) has told the Supreme Motor hotel that WhatsApp doesn't take up its permission to start its proposed payments service in the country. According to the RBI, the Facebook-closely-held program is still not-compliant with India's data localization Torah, which is why IT has directed the Subject Payments Corporation of India (NPCI) to keep the ship's company from introduction its UPI payments overhaul.

According to The Multiplication of Republic of India, the Run batted in filed its submission to the Supreme Court along November 6th, while the aforementioned letter to the NPCI MD & CEO was transmi November 1. "The RBI has examined the aforesaid reports (away NPCI) and the responses of NPCI and is of the well-advised view that WhatsApp is storing the following defrayment data elements outdoors India on the far side the permitted timelines indicated in the circular and frequently asked questions (FAQs) on storage of payments system data issued by Run batted in on June 26, 2022", aforementioned the banking regulator.

The development comes in the backwash of a recent admission from the company that an Israeli cyber-surveillance company titled the NSO Group had exploited a WhatsApp vulnerability to accomplish a serial of cyber-attacks against around 1,400 journalists, human rights activists, persuasion dissidents and diplomats from 20 countries. Accordant to WhatsApp, the Israeli firm used a state-of-the-artistry spyware, called Pegasus, to carry out the attempt that also reportedly affected many activists in India.

It's non immediately clear how WhatsApp volition respond to the latest development, which deals a big blow to its aspirations of launching a UPI-based payments service in the country that could vie with the likes of Paytm, PhonePe and Google Pay.