New Delhi, Jan. 11 -- The Reserve Bank of Indias decision to allow financial technology companies to access data from credit information bureaus is set to bring a highly unregulated segment within the regulatory purview. But experts said the new rules are likely to benefit a few companies, with concerns on data protection still unaddressed.
Until now, only regulated entities such as credit institutions and specified users like telecom companies, insurance providers, rating agencies and registered brokers had access to such data.
This decision is in the right direction but should be inclusive of foreign fintech companies following due diligence, said Anil Bhardwaj, Secretary General Federation of Indian Micro and Small & Medium Enterprises...