Amazon Pay Enters Deposit Booking In India, Will It Face RBI Heat Just Like Google Pay?
India, Sept. 8 -- As India's central bank keeps a close watch on Big Tech firms like Google, Amazon, Facebook, Apple and Microsoft from entering the country's financial services sector, Amazon Pay India has announced to offer deposit booking services for its customers in the country.
The move comes within days of its rival Google Pay launching a similar facility with Equitas Small Finance Bank for allowing its users to book deposits, which has already invited regulatory attention. Following Google Pay's announcement, reports mentioned that the deal between Google and the bank is under RBI's watch for its implication on the financial landscape in the country.
The Amazon-owned subsidiary has said it will tie up with investment platform Ku...
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