Reserve Bank of India (RBI) would lay out the terms of reference for an IT audit of Paytm Payments Bank after the regulator prohibited the onboarding of new clients for supposed violations of customer acquisition and privacy decides that might have included potential information stream to organizations of Chinese origin, two individuals acquainted with the matter said in a report. Founder Vijay Shekhar Sharma denied a media report that alleged information sharing to Chinese elements might have prompted the administrative checks.
Paytm’s founder and majority shareholder Vijay Shekhar Sharma has denied sharing any data with the Chinese.
“I want to inform and confirm that in various observations RBI has shared with Paytm Payments Bank, there is absolutely no reference to any data sharing or servers being outside or data sharing with any unauthorized personnel national or international–any country whatsoever,” Sharma said, denying a Monday afternoon Bloomberg report that said data sharing with Chinese entities was the primary reason behind the central bank action.
Sharma said, “I want to inform and confirm that in various observations RBI has shared with Paytm Payments Bank, there is absolutely no reference to any data sharing or servers being outside or data sharing with any unauthorized personnel national or international–any country whatsoever,”.
