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Advanced Technology
World Economy

Advanced Technology

US taxi-hailing company Uber Technologies violated Indian regulations by “bypassing” rules when it used an overseas gateway to conduct transactions in the country, Reserve Bank of India Governor Raghuram Rajan said in a television interview, Reuters said.  The central bank is working to set a legal framework for the use of advanced e-commerce technologies but in the meantime no one can treat the absence of a solution as an excuse to violate Indian rules, Rajan told NDTV television. “We are willing to work to try and solve the problem, in fact we have some solutions which are coming up on doing low value transactions without too much hassle,” he said.

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