Online retailers are barred from entering into exclusive deals to promote brands. Amazon and Flipkart owned by Walmart get a big blow putting an end to cash back offers and deep discounts offered by them.
The small traders complain that the deep discounts given by Amazon and Flipkart are driving them out of business. The e-commerce companies will now have to furnish a certificate along with a report of a statutory auditor to the RBI, confirming compliance, by September 30 of every year for the preceding financial year, indicating that the violations will be strictly dealt with.
