The Reserve Bank of India (RBI) has stated before the Supreme Court that it is not its responsibility to audit members associated with UPI (Unified Payment Interface) transactions. He said that the accountability of the National Payments Corporation of India (NPCI) to ensure that companies like Google and WhatsApp comply with the relevant rules. In its affidavit submitted to the apex court, RBI also said that the matter related to privacy or confidentiality of data and sharing it comes under the jurisdiction of the Central Government.

The central bank has filed this affidavit in response to a petition by Rajya Sabha member Vinay Viswam and urged it to dismiss the PIL. The petition urges the court to direct the RBI to ensure that whatever data is received on the UPI platform is not misused. UPI is a mobile application using which account holders of one bank can transfer money from their affiliate account to another bank account.

Next hearing on 1 February

A bench of Chief Justice SA Bobde, Justice AS Bopanna and Judge V Ramasubramaniam on Thursday fixed February 1 for hearing the petition of the Rajya Sabha member. The RBI said in the affidavit, “He issued a circular on April 6, 2018, giving instructions regarding the data related to the payment system.” There was no talk about data sharing or privacy. RBI has not given any instructions about sharing of data by TPAP (third party application provider) or partners of UPI. The matter of confidentiality and sharing of data comes under the jurisdiction of the Central Government.

Also read: Raunak returned to the stock market, Sensex opened up 549 points

RBI also said that it is the responsibility of NPCI to ensure that companies like Amazon, Google and WhatsApp comply with the laws and regulations governing UPI operations. The central bank also rejected the request made in the MP’s plea that RBI should be responsible for auditing companies related to UPI transactions. He said, “RBI is responsible for auditing members associated with UPI.

Also read: Pakistan gets chance to denounce Pakistan in ‘Basmati rice’ fight, know how

Earlier, the top court had issued a notice to the RBI and others on October 15 last year on the petition of the MP. The petition urges the court to direct the RBI to ensure that whatever data is received on the UPI platform is not misused. Apart from RBI, it had asked Center, NPCI and others including Google Inc, Facebook, WhatsApp and Amazon to reply to this.

LEAVE A REPLY

Please enter your comment!
Please enter your name here