Startup Street: RBI's new QR code rules and Fireworks at Amazon's Great Indian Sale

Reserve Bank of India (RBI) on Thursday issued a notification barring payment system operators from issuing any new proprietary QR code and asked those currently using proprietary QR codes to shift to interoperable QR codes -- UPI QR or Bharat QR, by March 2022.

The central bank also called for applications to form a self-regulatory organisation for the payments sector. To discuss these developments, CNBC-TV18 spoke to Vishwas Patel, Chairman of the Payments Council of India on Startup Street.

Moreover, Dukaan recently raised $6 million in seed funds, co-led by Matrix Partners India and Lightspeed India Partners. This fundraise comes at a time when the company is embroiled in a court battle with Sequoia India-backed Khatabook for alleged copyright violation. The Dukaan app has been barred from downloads on play store as well as on android application package. Suumit Shah, founder and CEO of Dukaan gives more details on the same.

Online retail sales in the first week of the festive month between October 15 and 21 was expected to cross 4.5 billion dollar as per early estimates from consultancy firm Forrester. To talk about Amazon's Great Indian Festival and the big deals is Akshay Ahuja, category leader consumer electronics and personal computing at Amazon India.