close

News WrapGet Handpicked Stories from our editors directly to your mailbox

Flipkart, Amazon India temporarily disable COD options for goods

Flipkart, Amazon India temporarily disable COD options for goods
Flipkart has reportedly disabled cash on delivery orders for goods worth over Rs 2,000, Zee Business news channel reported on Wednesday. Representational image of Flipkart. Image Source: Official Website
Written By: ZeeBiz WebTeam
Updated: Wed, Nov 09, 2016
11:50 am
Mumbai , ZeeBiz WebDesk
RELATED NEWS
India abolishes larger banknotes in fight against graft, 'black money' India abolishes larger banknotes in fight against graft, 'black money'
9 steps you must take to exchange your old Rs 500, Rs 1,000 notes 9 steps you must take to exchange your old Rs 500, Rs 1,000 notes
10 things PM Modi said apart from demonetising Rs 500, Rs 1000 notes 10 things PM Modi said apart from demonetising Rs 500, Rs 1000 notes
Resale property market, small builders to be hit by note ban Resale property market, small builders to be hit by note ban
'Realty, consumer non-durable makets to be hit by notes ban' 'Realty, consumer non-durable makets to be hit by notes ban'

After the Government of India banned circulation of Rs 500 and Rs 1,000 notes from Tuesday midnight to fight black money and corruption, e-commerce companies like Flipkart and Amazon India have temporarily stopped accepting cash on delivery for goods ordered under cash on delivery (COD) option.

Flipkart has reportedly disabled cash on delivery orders for goods worth over Rs 2,000, Zee Business news channel reported on Wednesday. 

ALSO READ: India abolishes larger banknotes in fight against graft, 'black money'

The channel's reporter Aseem Manchanda tweeted as saying,"Hit for e-commerce companies too? @flipkart has disabled cash on delivery orders for goods worth over Rs 2,000." 

 

 

Similarly, Amazon India would not accept cash on delivery (COD) for now, Bloomberg news reported quoting FactorDaily as saying. 

Prime Minister Narendra Modi on Tuesday announced that Rs 500 and Rs 1,000  banknotes would be withdrawn from circulation at midnight to crack down on rampant corruption and counterfeit currency, cited the Reuters report. 

ALSO READ: 10 things PM Modi said apart from demonetising Rs 500, Rs 1000 notes

The surprise move was designed to bring billions of dollars worth of cash in unaccounted wealth into the mainstream economy, as well as hit the finances of militants who target India and are suspected of using fake Rs 500 notes to fund operations, it added. 

"Black money and corruption are the biggest obstacles in eradicating poverty," Modi said in a hastily convened address to the nation after a cabinet meeting. 

PM Modi tweeted on Tuesday as saying," Rs 500 and Rs 1,000 notes cease to be legal tender. #IndiaFightsCorruption." 

 

ALSO READ: 9 steps you must take to exchange your old Rs 500, Rs 1,000 notes