CAIT has named most of India’s top banks, including SBI, Bank of Baroda,
ICICI, Axis Bank, Citi Bank, HDFC Bank, Kotak Mahindra Bank, and HSBC for
having “unholy alliance” with Amazon and Flipkart.
Indias 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. …
