Sources related to the investigation have claimed that the bank was sharing its server information with a China-based firm.
Paytm Update: After the fall in the share of Paytm, the ban on opening new accounts, Paytm seems to be in another trouble. In the latest update, the issue of data sharing of Paytm Payments Bank with Chinese companies has come to the fore.
Share Information from a China-Based Firm!
According to Bloomberg sources, in the annual investigation conducted by the Reserve Bank of India (RBI) in the last days, it was found that the company’s servers were sharing important information with the China-based firm. This firm has an indirect stake in Paytm Payments Bank.
Partnership with these group of China
Paytm Payments Bank is a joint venture between Paytm and its founder Vijay Share Sharma. China’s Alibaba Group Holding Company Limited and its affiliate Jack Ma Ant Group Company hold shares in Paytm. This information has also been given by Paytm to SEBI. However, this whole matter has been denied by Paytm.
What’s the matter?
On March 11, RBI had strictly banned Paytm Payments Bank from opening new accounts. RBI had also asked Paytm Bank to conduct an audit of the IT system. However, in this entire case, no restriction was imposed on the old customers.
After this matter came to light, now Bloomberg has claimed on Monday, quoting sources, that the RBI had banned the addition of new customers from Paytm Payments Bank because the customer data was being shared with the Chinese firm. .
side of paytm
Paytm Payments Bank has denied the news by issuing a statement on this issue. It has been called baseless by the company. Paytm said, ‘Bloomberg’s report claiming data leaks to Chinese companies is false and sensational.
Let us tell you that during Monday’s trading session, the shares of Paytm fell more than 13 percent. However, later closed with a fall of more than 12 percent.
