Versuchen GOLD - Frei
'Closed loop' model likely to pose refund issues for customers
Business Standard
|April 22, 2025
Pocket Pinch
Customers of the beleaguered electric vehicle ride-hailing platform BluSmart may have to wait for 90 days or more to get a refund from their Blu Wallets even as the 'terms of use' outline that the wallet is strictly 'non-refundable' and holds 'no expiry date'.
The 90-day refund period and the non-refundable wallet policy have raised concerns among BluSmart users, as the company's wallet operated within a closed-loop system.
Closed loop prepaid payment instruments (PPIs), such as the BluSmart wallet, enable users to only purchase services from the ride-hailing entity alone. Cash withdrawals are not permitted for such wallets.
Diese Geschichte stammt aus der April 22, 2025-Ausgabe von Business Standard.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Business Standard
Business Standard
Bharat Forge signs ₹300 cr contract under EP-VI norms for army, navy
Bharat Forge Limited (BFL) has secured defence contracts worth ₹3300 crore under the Emergency Procurement-VI (EP-VI) framework for supplying indigenous unmanned systems to the security forces.
1 min
January 17, 2026
Business Standard
Centre likely to adjust ₹968 cr withheld tax
Tax authorities are set to adjust around ₹967.52 crore withheld in connection with Tiger Global’s exit from Flipkart, following a Supreme Court ruling that asked the US-based investor to pay around 214,500 crore in taxes, according to senior Central Board of Direct Taxes (CBDT) officials.
2 mins
January 17, 2026
Business Standard
Pakistan se azaadi
Pakistan not only has zero chance of catching up with India in most areas, but will inevitably see the gap rising. Its leaders will offer its people the same snake oil in different bottles
5 mins
January 17, 2026
Business Standard
Foreign investors’ interest in GIFT City may increase
India’s International Financial Services Centre (IFSC) at GIFT City in Gujarat could see higher interest from foreign investors as they reassess offshore structures after the Supreme Court’s Tiger Global ruling.
2 mins
January 17, 2026
Business Standard
Best suited for first-time equity investors seeking broad market exposure
Flexicap funds saw the sharpest rise in assets under management (AUM) among equity-oriented schemes in 2025.
2 mins
January 17, 2026
Business Standard
Reliance Retail reports 9.2% jump in operational revenue
Reliance Retail Ventures Ltd (RRVL) on Friday reported a 2.1 per cent year-on-year rise in net profit at ₹3,558 crore for the third quarter of 2025-26 (FY26).
1 mins
January 17, 2026
Business Standard
EPFO may employ third-party agents to resolve member grievances, queries
The Employees’ Provident Fund Organisation (EPFO) is likely to empanel third-party agents to help resolve queries and grievances of members, said two officials aware of the matter.
2 mins
January 17, 2026
Business Standard
Here comes the Sun-dance
Two short films set in South India will premiere at the largest independent film festival in the US. The debutant directors talk about their first steps into filmmaking
4 mins
January 17, 2026
Business Standard
SAT sets aside Sebi order on Bombay Dyeing, promoters
The Securities Appellate Tribunal (SAT) has set aside the Securities and Exchange Board of India’s (Sebi’s) October 2022 order against Bombay Dyeing and Manufacturing Company (BDMCL), and its promoters Nusli Wadia and sons Ness and Jehangir.
1 min
January 17, 2026
Business Standard
Margin pressures drag down RIL’s profit to 4-qtr low
Retail, oil & gas divisions remain laggards
3 mins
January 17, 2026
Listen
Translate
Change font size