No investors has access to payments bank data – Paytm CEO Sharma

FILE PHOTO: Vijay Shekhar Sharma, founder of Paytm's parent One97 Communications, speaks during the launch of a Citibank and Paytm credit card in Mumbai
FILE PHOTO: Vijay Shekhar Sharma, founder of Paytm's parent One97 Communications, speaks during the launch of a Citibank and Paytm credit card in Mumbai, India, May 14, 2019. REUTERS/Francis Mascarenhas

March 14, 2022

By Aditya Kalra

NEW DELHI (Reuters) – Investors in India’s Paytm do not have access to customer data of its payments bank, its CEO told Reuters in an interview on Monday, seeking to allay concerns over reports of user data being leaked to Chinese firms.

The Reserve Bank of India last week barred Paytm Payments Bank from taking on new customers and ordered a comprehensive audit of its IT systems, citing “material” supervisory concerns observed in the bank, without elaborating further.

Paytm has denied a news report from Bloomberg that said earlier on Monday RBI found Paytm Payments Bank’s servers were sharing information with China-based entities that indirectly own a stake in the firm.

In an interview with Reuters, Paytm CEO Vijay Shekhar Sharma said “there is no access of any bank customer data to anyone, any investor.”

Sharma added Paytm was confident of addressing RBI’s concerns at the earliest.

(Reporting by Aditya Kalra in New Delhi; Editing by Sanjeev Miglani)