PIL In Delhi HC Seeks Regulation On Google, Facebook, Amazon In Financial Sector

Tech giants like Google, Facebook and Amazon have found themselves in a spot as a PIL has been filed against them in the Delhi high court which asks for a detailed legal framework for regulating operations of these companies which have now entered the financial sector.

Petitioner Resmi P Bhaskaran who is an applied scientist has alleged that Indian financial regulators of having a “lackadaisical approach” towards the fintech firms and claims that this could harm India’s financial stability.  

The petition further claims that the unregulated operation of these companies in the financial sector can create havoc and would eventually bring a huge financial crisis and leakage of personal data.

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