[ad93611]

I’m a startup founder where most of our employees are based in India. I don’t condone this move by Razorpay. However, as someone else pointed out, the legal process in India is not robust, and it is biased toward people in power. Here are some constructive ways to avoid situations like this:

1. Register your company outside of India. The US is an excellent option because of the solid legal framework.

2. Encrypt the data. Ask for access from your customers, even for your own support teams.

3. Use international companies for services whenever possible.

It would be great to have a regular process to delete old data if you don’t need it for business purposes, and this is hard to do because you could develop an innovative way to add customer value using the old data you don’t know of today.

[wtmt]

Unfortunately, the data part won’t work very well because of the strict data localization laws that require financial data to be stored in India. Related to this, Amex and MasterCard were banned from issuing new cards in India. The ban on MasterCard was removed recently (nearly a year later) after compliance. The ban on Amex is still not lifted.

[lazyasciiart]

> It would be great to have a regular process to delete old data if you don’t need it for business purposes, and this is hard to do because you could develop an innovative way to add customer value using the old data you don’t know of today.

It is not "hard to do" just because you would like not to do it. This is the first step you should be taking, not faffing around with international corporate registrations and encryption to create weak protection for data that you shouldn't have in the first place.

[boruto]

i am sure there are compliance and regulations which would prevent FinTech companies acting on their own whims.