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Did you know that when you hit "Pay Now" on your favorite shopping or delivery app, your money doesn't go directly to the seller? It takes a critical, invisible detour!
This secret pit stop is the RBI Nodal Account the powerful regulatory framework that silently guarantees trust in India's massive digital economy.
Join Ritika Dedhia from IndiaLaw LLP as she uncovers the mechanics of this essential safeguard and why it matters to every online shopper and business:
- Your Fund Security: Learn why it functions as a non-interest-bearing trust account, preventing platforms from ever mixing your money with their own business funds.
- The Refund Guarantee: Understand how the Nodal Account ensures refunds for failed transactions or returns are routed back to you quickly and directly.
- Fast Seller Payments: Discover the strict T+1 or T+2 working day settlement timelines that ensure timely liquidity for all online sellers and service providers.
This is the rule that allows you to confidently use apps like Swiggy, Ola, and Amazon. Don't just transact understand the safety net protecting you!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
