Why is Sangh Pariwar silent over Chinese invasion on India through Paytm?
New Delhi, November 19: By holding major shares in One97, the Chinese e-commerce giant Alibaba is paving the way for its entry into Indian e-commerce. Alibaba and Alipay hold a 41% share in One97, which makes them the majority shareholders of the company.
The widely accepted mobile wallet Paytm’s parent company is none other than this One97, with major investment from China. So it is for sure that China’s own Alibaba holds a key position in Paytm too.
According to a filing with the Registrar of Companies (RoC), One97 has created a separate account for Paytm(Paytm E-commerce Private Limited), so that it can be an individual entity. Vijay Shekar Sharma, founder of One97, is listed as the main shareholder. This move is apparently to prepare for Alibaba’s entry to Indian e-commerce, as reported by indianonlineseller.com.
Now, Alibaba and its team is getting ready for an aggressive entry into the Indian market. Recently, Alibaba has set up shop with its logistics and payment arrangements. These developments indicate that a formal announcement is close by.
Indians have already decided to ban and boycott Chinese products. Earlier, the Sangh Parivar had called upon boycotting Chinese products became highly effective as the traders’ claim that there is drop in demand for Chinese products. Knowingly or unknowingly, Sangh Parivar is keeping silence over this current issue. How long Sangh Parivar could be silent on this dangerous move by China on Indian people.
By leaving major shares to China, Paytm has become just like a small Indian trader selling Chinese goods.
Unfriendly China gains access to all financial aspects of Indians
Anytime, anywhere, Mobile Apps like Paytm, can access your financial details, location, photos, videos, contacts, background information and your banking exposure. When we make payments through such digital wallets, our information is getting shared to an international financial network owned by unfriendly neighbour, China.
Everyone using such apps with access to the customer’s vital information, must be knowing that their private as well as strictly private documents are not so safe in their own mobile and the internet as well. PayTM, under the control of China, poses numerous possible threats including potential vulnerability to a data breach, financial data in foreign hands is a dangerous situation and thus worthy of debate.
The company has invested inSnapdeal, apart from its share in Paytm. Last year, the company invested Rs 3,259 crore in Snapdeal jointly with SoftBank and Foxconn. Alibaba has also considered investing in Flipkart.
How to get rid of such unauthorized digital wallets?
This practice of throwing our banking details to any one including our unfriendly neighbour country China has to be stopped immediately. We have to stop them funding Pakistan terrorists with our own money.
The only way to come out of the situation such digital wallets is that the banks shall provide digital wallets/Mobile Aaps exclusively for its customers.
Banks shall provide digital wallets to its customers enabling the customers to make their payments hassle free.