Millions of data to china through Paytm !


Narendra Jadhav a member of Rajya Sabha has yesterday made a volatile allegation against the Paytm. Raising the issue in the Zero Hour of the parliament, Mr. Jadhav has called for imposing restrictions on the ownership of Non Banking Financial Companies (NBFC) in India. Jadhav alleged that Alibaba a Chinese company has acquired a huge stake in Paytm which is in the process of getting NBFC license. This according to Jadhav would give huge opportunity for the companies like Alibaba to gather the financial information of India and provide them to the Chinese authorities. `` Through Paytm, Chinese authorities can gain access to personal and financial data of millions of Indians and corporations. This means they can influence Indian financial sector. The Chinese have an incredible amount of capital. They can dump their capital in our markets and indulge in predatory pricing,’’ said Jadhav speaking to a newspaper.