Indian trade body blames Amazon and Walmart for an “unholy alliance” with banks ...Middle East

Quartz - Economy

India’s small businesses have taken their fight against Amazon and Walmart a notch higher.Yesterday (Nov. 30), the Confederation of All India Traders (CAIT), an organisation of over 60 million small local businesses, wrote a letter to finance minister Nirmala Sitharaman alleging that banks in the country are indulging in “unethical practices” in collusion with Amazon and Flipkart (owned by Walmart) by giving cash backs and incentives to shoppers who make payment using specific credit or debit cards.“If the same product is purchased from an offline market even by using the card of the same bank, the respective bank is not offering any cashback or incentives,” CAIT said in its letter. “Such co

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Last updated : 01 Dec 2020 clock 09:16 AM

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