Supreme Court notice to Centre, WhatsApp against payments service
New Delhi, Aug 27 : The Supreme Court on Monday issued notice to the Centre and messaging service provider WhatsApp after a plea sought direction to restrain the app from proceeding with its payments systems unless it fully complies with RBI's provisions.
A bench of Justice Rohinton Fali Nariman and Justice Indu Malhotra sought response from WhatsApp, Law and Justice Ministry, Finance Ministry and Information Technology Ministry within four weeks.
Advocate Virag Gupta, appearing for the petitioner Centre for Accountability and Systemic Change, contended that the messaging platform does not comply with provision of mandating a Grievance Officer and other laws of India including Know Your Customer (KYC) norms laid down by the Reserve Bank of India (RBI).
The plea said that while companies like Facebook and Google have appointed Grievance Officers for users in India, WhatsApp had not.
In order to make WhatsApp accountable, it must be directed to comply with Indian laws and appoint a Grievance Officer who shall address grievances of the consumers as well as co-ordinate with investigating agencies, it added.
WhatsApp is a foreign company with no office or servers in India and to run payments service here it is obligated to have its office and payments in India, said the plea.
The advocate said WhatsApp was being allowed to continue with its payments and other services without any checks.
WhatsApp has over 200 million users in India and almost one million people are "testing" WhatsApp's payments service in India, which is the largest base for the Facebook-owned company that has over 1.5 billion users globally, according to the petition.
Every user has a number on WhatsApp but the messaging platform does not have a number through which the users can contact the company for grievance redressal, it added.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
