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Checkout portals of many e-commerce websites, mobile applications and even banks now offer an option of paying later. BNPL is a short-term credit facility extended by banks directly or retailers (through their tie-ups with banks and NBFCs), that allow consumers to defer payment on their purchases for 15 to 365 days. Depending on the service provider, the interest-free period may vary from 15-30 days, beyond which the customer can repay in a single shot or in EMIs spread over 1-12 months. EMI stands for equated monthly instalment, which relates to payments made regularly to repay an outstanding loan within a…
31 December, 2023
eCommerce
Grievance Appellate Committee (GAC) portal In accordance with the IT Regulations, 2021, the Ministry of Electronics and Information Technology has developed the Grievance Appellate Committee (GAC) portal. Regarding the portal: It will be a virtual, online platform where all aspects of the appeals process—from filing an appeal to receiving a decision—would be handled electronically. The National Informatics Center (NIC)created it. It will provide citizens the opportunity to have one of three Committees established by the government hear their concerns about content takedown requests made to social media corporations. About The Grievance Appellate Committee (GAC): Based on the newly updated Information…
08 March, 2023
eCommerce
Open Network for Digital Commerce or ONDC The Open Network for Digital Commerce's development has recently been assessed by the Union Minister of Commerce and Industry (ONDC). Highlights Background: Since the alpha debut in five cities in April 2022, ONDC has been doing end-to-end execution testing with a limited user group to better understand their needs. Target: In the upcoming weeks, ONDC anticipates a significant rise in the number of network participants to over 30. The network will thereafter begin to undergo restricted public beta testing by ONDC. The primary goal of ONDC is to help small, non-digital traders take…
02 September, 2022
eCommerce
Digital Economy In India Image Source - Inc42 A comprehensive legislative framework for the digital economy is being developed by the government. About digital economy The information and communications technology that enables the global network of economic activity, commercial transactions, and professional relationships is known as the "digital economy" (ICT). The economy based on digital technologies is a brief summary of it. The fourth industrial revolution The transition from the third to the fourth industrial revolution is reflected in the digital economy. The transition from analogue electronic and mechanical devices to digital technology, often known as the third industrial revolution…
30 August, 2022
eCommerce
Consumer Protection Rules, 2021 Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 1) Pecuniary Jurisdiction The Consumer Protection Act, 2019 The Consumer Protection Act, 2019 promulgates a three-tier quasi-judicial mechanism for redressal of consumer disputes namely district commissions, state commissions and national commissions. The Act also stipulates the pecuniary jurisdiction of each tier of consumer commission. As per the existing provisions of the Act, District Commissions have jurisdiction to entertain complaints where the value of the goods or services paid as consideration does not exceed one crore rupees. State Commissions have jurisdiction…
31 December, 2021
eCommerce
Consumer Protection (E-Commerce) Rules, 2020 For the purposes of preventing unfair trade practices in e-commerce, the Central Government had notified the Consumer Protection (E-Commerce) Rules, 2020 with effect from 23 July 2020 Major provisions To regulate all commercial transactions sold over a digital or electronic network. It recognises two e-commerce business models, namely, the marketplace model and the inventory-based model. Separate rules are specified for provisions for the marketplace and inventory-based entities. All information on the return, refund, exchange, warranty and guarantee, delivery and shipment of the goods or services being sold, including their country of origin, be provided on the…
22 June, 2021
eCommerce
E-commerce rules in India Definition Electronic commerce or e-commerce is a business model that lets firms and individuals buy and sell things over the Internet. The Indian e-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second-largest e-commerce market in the world by 2034. It is a type of business model, or segment of a larger business model, that enables a firm or individual to conduct business over an electronic network, typically the internet. e-Commerce matters were transferred to DPIIT, Ministry of Commerce and Industries in 2018. DPIIT also provides…
14 March, 2021
eCommerce
E-Commerce rules in India What is the news? India is considering revising its foreign investment rules for e-commerce. This move could compel players, including Amazon.com Inc., to restructure ties with some major sellers. The government discussions coincide with a growing number of complaints from India’s bricks-and-mortar retailers, which have for years accused Amazon and Walmart Inc.-controlled Flipkart of creating complex structures to bypass federal rules, allegations the U.S. companies deny. India only allows foreign e-commerce players to operate as a marketplace to connect buyers and sellers. It prohibits them from holding inventories of goods and directly selling them on their…
20 January, 2021
eCommerce
‘BHARATMARKET’ for retail traders CAIT said the marketplace will integrate the capabilities of various technology companies to provide end-to-end services in the logistics and supply chains from manufacturers to end consumers, including deliveries at home. The e-commerce portal will include nationwide participation by retailers and aims to bring 95 per cent of retail traders on board the platform, who would exclusively run the portal. The initiative has had the active support and guidance from the Ministry of Commerce and Industry, as they see this as an effective way to get essential commodities to consumers during the lockdown period and within…
03 May, 2020
eCommerce
DPIIT, and CAIT join hands to enable kiranas’ foray into the e-comm space The DPIIT has joined hands with CAIT for the development of this platform, which, is expected to be launched in a staggered manner starting early next week. Within days of retail giants Reliance Industries and Amazon India announcing their intent to accelerate their plans of onboarding local retailers and grocers, a group of retail traders has announced a tie-up with the Centre to launch a national e-commerce marketplace, which will help small retailers across the country take orders online. The DPIIT is facilitating the conception and designing…
26 April, 2020
eCommerce
E-Commerce and recent Rules-FDI Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) Electronic commerce or e-commerce is a business model that lets firms and individuals buy and sell things over the Internet. Propelled by rising smartphone penetration, the launch of 4G networks and increasing consumer wealth, the Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion in 2017. India’s e-commerce revenue is expected to jump from US$ 39 billion in 2017 to US$ 120 billion in 2020, growing at an annual rate of 51%, the highest in the world. The Indian e-commerce industry has been…
22 April, 2020
eCommerce
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