February 8, 2019 9:43 PM

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Court seeks centre's reply on PAN data being shared with rating agencies

The Delhi High Court today sought response of the Centre and the RBI on a PIL seeking to stop banks from sharing PAN and financial transaction data of clients with credit rating agencies without their formal consent.  <br />''<br />''<br />''A bench of Chief Justice Rajendra Menon and Justice V K Rao issued notice to the Ministry of Finance and the Reserve Bank of India, seeking their stand on the plea.<br />''  <br />''The plea claimed that sharing of a customer's Permanent Account Number (PAN) and other transactions with credit rating agencies affects the person's right to privacy.<br />'' <br />''The petition states that even the Income Tax Act, 1961, does not allow sharing of PAN data of citizens with agencies for the development of a credit score.It has also sought a direction to RBI to frame a policy to regulate this practice.<br />''<span style="color: #222222;"> </span><br />

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