Google Pay, Phone Pe two ‘ticking’ time bombs, says LS member Supriya Sule

The RBI said persistent non-compliance by Paytm with regulatory guidelines despite nudges over a period of time ultimately led to stern action against the fintech.

NCP MP Supriya Sule on Friday alleged that apps like Google Pay and Phone Pe are “two ticking time bombs” and sought to know what steps the government is taking to check money laundering.

Participating in a discussion on ‘The White Paper on Indian economy’ in Lok Sabha, Sule said whatever happened in Paytm Payments Bank Ltd (PPBL) is “very alarming” and is almost like money laundering.

The Reserve Bank of India (RBI) last month directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.

The RBI said persistent non-compliance by Paytm with regulatory guidelines despite nudges over a period of time ultimately led to stern action against the fintech.

“Google Pay, Phone Pe are two sitting time bombs. BHIM app is hardly used while Google Pay and Phone Pe apps are used (widely). What is the government doing on digital or cashless economy?” Sule said.

JMM leader Vijay Kumar Hansdak accused the government of misusing ED, CBI and Income Tax against opposition MPs. Hansdak said a white paper should be brought on the misuse of central agencies.

“Their (BJP) government is running because of ED. Otherwise they won’t be able to win elections,” Hansdak, who represents the Rajmahal constituency of Jharkhand in the Lok Sabha, said.

BJP MP Sanjay Jaiswal said the corruption seen in the 10 years of UPA government was unprecedented. During UPA’s tenure, people would take loans and forget about returning it, he said.

Participating in the debate, Asaduddin Owaisi (AIMIM) said the white paper is more rhetoric than substance.

He urged the government to explain why average growth was higher at 6.8 per cent during the 10 years of UPA while during the NDA period it is 5.9 per cent.

In case of fiscal deficit as the percentage of GDP, average was 4.7 per cent during UPA rule, but it is 5.1 per cent under the 10 years of NDA.

The Average inflation rate was 8 per cent, which came down to 5 per cent during the NDA government that came to power in 2014.

Owaisi also said the NDA government got the benefit of favourable crude oil prices and urged the government to tell the country how demonetisation adversely impacted the country’s poor.

IUML MP E T Mohammed Basheer said, “This paper is for BJP, by the BJP, of the BJP and for the election of BJP.” He further said that the Congress-led UPA government brought various important legislations like Right to Information, Right to Education, and introduced MNREGA for welfare of the poor people.