BluSmart Faces Backlash Over Extended Refund Timeline

Electric cab aggregator BluSmart has announced an extension in the timeline for refunding wallet balances to users, now up to 90 days from the previously stated six days. This change comes as the company pauses ride bookings in cities where it operates, including Delhi-NCR and Bengaluru.

User Concerns and Company Response

Several users have taken to social media to voice their concerns over the lack of clarity regarding refunds. In response, BluSmart has communicated via email to customers, stating, "We’ve decided to temporarily close bookings on the BluSmart app... we will initiate a refund within the next 90 days if services do not resume before then."

Regulatory and Legal Implications

The situation unfolds as Sebi investigates Gensol Engineering, linked to BluSmart’s promoters. Legal experts highlight the absence of regulatory oversight over closed-loop wallets like BluSmart’s, raising questions about customer rights and refund accountability.

BluSmart’s decision has sparked a debate on the need for clearer regulations and better consumer protection mechanisms in the rapidly evolving digital wallet space.