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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 …
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
