In a recent discussion on “The White Paper on the Indian Economy” in Lok Sabha, Member of Parliament Supriya Sule raised serious concerns about the state of digital payment platforms in the country. Pointing to recent issues with Paytm Payments Bank Ltd (PPBL), she likened the situation to alarmingly resembling money laundering. Sule specifically labeled Google Pay and PhonePe as “ticking time bombs” during the parliamentary session, bringing attention to potential risks associated with these platforms.
Sule’s remarks come in the wake of the Reserve Bank of India (RBI) taking regulatory action against Paytm due to persistent non-compliance. The government’s stance and actions on the digital or cashless economy were also questioned during the session.
JMM leader Vijay Kumar Hansdak accused the government of misusing enforcement agencies against opposition MPs, urging the need for a white paper to address concerns related to the alleged misuse of central agencies.
The economic discussion further delved into topics such as inflation rates, with BJP MP Sanjay Jaiswal highlighting the reduction in average inflation from 8% to 5% during the NDA government’s tenure. However, varying opinions on the economic situation were expressed by different MPs, with IUML MP E T Mohammed Basheer suggesting that the white paper seemed biased in favor of the BJP.
