The latest installment of the “Pay to Play” scheme has some users in India wondering if they should pay a monthly bill.
The scheme was introduced last year and has since become the country’s biggest digital payments program, but its introduction has attracted criticism from many users who feel it’s too complicated and not transparent enough.
According to The Hindu, some users have asked their bank to withdraw the amount before the end of March.
“I think there’s a lot of people who think this is too complicated,” said one of the users, who did not want to be named.
“If you don’t get it in the mail, there’s nothing to get it out of the bank.
You’re not entitled to get any of the money you paid for the device.”
Others have complained about the monthly bill, saying they have had trouble getting their devices for the past three months, and that the cost of sending them back to the bank has exceeded their monthly income.
In a statement to The Huffington Post India, the Reserve Bank of India said the “pay to play” scheme was meant to help the poor and needy, but it has “distracted many consumers from paying their monthly bill.”
“This scheme will help the poorest among us, who are forced to pay a higher price to their bank every month to avoid going overdrawn.
In fact, many people are already having trouble getting money from their banks,” the statement said.”
The RBI understands that there are many people who are frustrated by the complexity of this scheme.
We are working with banks to ensure that all customers can use the new Pay to Play scheme.
However, if a customer has not paid the monthly amount for the devices within the first three months of the scheme, the bank may consider it to be excessive and will take the action that is appropriate,” it added.
Pay to play has come under fire from users who have said it is not transparent and that there is a lot to be learned from other countries.
While India is the largest smartphone market in the world, its banking system is notoriously complex.
Many users who used to pay their monthly bills using their bank account have recently switched to Pay to Pay.
It’s unclear if other countries have introduced similar schemes, and the RBI has yet to make any public statement on the matter.