The Reserve Bank of India has ordered digital funds agency MobiKwik to probe allegations that information of its 11 crore customers was breached, and warned the corporate it would face fines if lapses are discovered, a supply with direct data of the state of affairs informed Reuters.
MobiKwik, which is backed by Sequoia Capital and Bajaj Finance, has confronted rising criticism this week for denying a leak many purchasers and digital rights activists say is linked to the corporate’s database.
The Reserve Bank of India (RBI) was “not happy” with the corporate’s preliminary response and has requested it to behave instantly, mentioned the supply, who declined to be named because the dialogue with the corporate was non-public.
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