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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Lax handling of customer information and the targeting of individuals with PAN data obtained in an unsavoury manner have the regulator concerned.
Editor's note: On 3 December 2021, the mobile screens of thousands across the country displayed a curious text message on behalf of Navi Finserv, a non-bank lender owned by Flipkart co-founder Sachin Bansal’s Navi Technologies. “Dear xx, Congratulations!! Your PAN [unmasked 10-digit Permanent Account Number] is eligible for a pre-approved personal loan of Rs xx lakh from NAVI. Apply now (through this link),” it read. One 40-year-old resident of Mumbai was one of the recipients of the controversial SMS. He had never applied for a loan with Navi, or with any other lender for that matter. He can’t think of any action online that could have given Navi permission to access his PAN details for a loan offer. “Perhaps, that one time in September when I used HDFC Bank’s website to pull my credit report to apply for a visa. The leak could have happened from the credit bureau’s side?” he wonders. Not only did Navi Finserv access his leaked PAN, it was also somehow used to arrive upon a customized loan offer for him and many others against their PAN. “I …
Lax handling of customer information and the targeting of individuals with PAN data obtained in an unsavoury manner have the regulator concerned.
Editor's note: On 3 December 2021, the mobile screens of thousands across the country displayed a curious text message on behalf of Navi Finserv, a non-bank lender owned by Flipkart co-founder Sachin Bansal’s Navi Technologies. “Dear xx, Congratulations!! Your PAN [unmasked 10-digit Permanent Account Number] is eligible for a pre-approved personal loan of Rs xx lakh from NAVI. Apply now (through this link),” it read. One 40-year-old resident of Mumbai was one of the recipients of the controversial SMS. He had never applied for a loan with Navi, or with any other lender for that matter. He can’t think of any action online that could have given Navi permission to access his PAN details for a loan offer. “Perhaps, that one time in September when I used HDFC Bank’s website to pull my credit report to apply for a visa. The leak could have happened from the credit bureau’s side?” he wonders. Not only did Navi Finserv access his leaked PAN, it was also somehow used to arrive upon a customized loan offer for him and many others against their PAN. “I …
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
A lending business at heart, the Bengaluru-based company projects itself as a fintech ecosystem comprising UPI, insurance and mutual funds. It’s time investors took note.
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
A lending business at heart, the Bengaluru-based company projects itself as a fintech ecosystem comprising UPI, insurance and mutual funds. It’s time investors took note.
