Govt planning insurance guidelines for electronic wallet transactions

New Delhi: In order to work out a mechanism to enable an insurance framework for electronic wallet transactions, government has initiated talks with mobile wallet players and insurance companies.

Also in the offing is notification of forensics labs as registered 'examiners' for electronic evidence. Today, the IT Ministry is the only registered examiner for cybercrime related evidence.

"The IT Ministry has co-ordinated 2-3 meetings with insurance firms and mobile wallet players. The core idea is that money in electronic wallet needs to be insured," an official source said.

Stating that the discussions were close to a "breakthrough", the source said once the talks reach a conclusion, the rules to enable an insurance framework for mobile wallet transactions will be notified.

In another move, the IT Ministry will also notify forensic labs as 'examiner' for cybercrime related evidence. "At present, the IT Ministry is the only registered examiner for electronic evidence. The idea is to notify 2-3 cyber forensic labs as examiner of electronic evidence, to start with," the source said.

With PTI Inputs