As per Nirmala Sitharaman, Union minister of finance, data privacy should not be compromised as an increasing number of Indians use digital payment platforms.
Laying emphasis on the importance of data privacy and safeguarding customer data, the finance minister stated that India has the highest fintech adoption rate (87 per cent) as compared to a much lower global average (65 per cent).
The minister further stated that the value of digital transactions has jumped from Rs 4 trillion in 2020 to Rs 6 trillion in January-August 2021.
