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The ministry banned these apps based on reports received from the Indian Cyber Crime Co-ordination Centre, Ministry of Home Affairs.
WhatsApp, which has over 400 million users in India, its biggest market, will compete with Alphabet Inc's Google Pay.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Launched a decade ago as a platform for mobile recharging, Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option.
Experts opine that Amazon's sheer muscle does not necessarily mean it can succeed in a market as huge and complex as India.
Walmart-owned Flipkart on Tuesday announced the launch of its hyperlocal delivery service 'Flipkart Quick' starting with Bengaluru, a move that will further intensify competition with rival Amazon and other players in the segment.
The case comes weeks after India cited security concerns in banning Alibaba's UC News, UC Browser and 57 other Chinese apps after a clash between the two countries' forces on their border.
India last month outlawed dozens of Chinese apps including ByteDance's popular video-sharing app TikTok, Alibaba's UC Browser and Tencent's messaging app WeChat, saying they posed a threat to sovereignty and integrity.
Along with 58 other Chinese apps, including Tencent Holdings Ltd's WeChat and Alibaba Group Holding Ltd's UC Browser, TikTok was banned in India this week following a border clash with China.
The agitation comes in the backdrop of the killing of 20 Indian soldiers in a clash with Chinese troops in eastern Ladakh's Galwan Valley on June 15.