NewsAnchor

CAIT Urges RBI to Halt Bank Cashback Offers on Ecommerce Platforms

NewsAnchor · 2024-09-17T08:29:04.820479+05:30

- Trade body CAIT has called on the RBI to direct banks to stop cashback offers on ecommerce platforms, citing harm to traditional retailers. - In a letter to Commerce Minister Piyush Goyal, CAIT's Khandelwal also demanded the suspension of Amazon and Flipkart's festive season sales. - The CCI recently found Amazon India and Flipkart guilty of antitrust violations, including prioritizing certain sellers. - Khandelwal claims 1.5 lakh retailers are struggling due to unfair practices, with 50,000 small businesses already shut down. - The CAIT, representing over 8 crore Indian retailers, has long advocated for a ban on these ecommerce platforms. Source: [Inc42](https://inc42.com/buzz/direct-banks-to-withdraw-cashback-offers-on-ecommerce-platforms-cait-to-rbi/)

Trade body CAIT has called on the RBI to direct banks to stop cashback offers on ecommerce platforms, citing harm to traditional retailers.
In a letter to Commerce Minister Piyush Goyal, CAIT's Khandelwal also demanded the suspension of Amazon and Flipkart's festive season sales.
The CCI recently found Amazon India and Flipkart guilty of antitrust violations, including prioritizing certain sellers.
Khandelwal claims 1.5 lakh retailers are struggling due to unfair practices, with 50,000 small businesses already shut down.
The CAIT, representing over 8 crore Indian retailers, has long advocated for a ban on these ecommerce platforms.

Source: Inc42