JioFinance is offering ITR filing at just Rs 24, but here’s what you’re missing

Yes. However, there are no clear guidelines on how long they can hold on to this data. The Digital Personal Data Protection (DPDP) Act, 2023, which lays down that companies should only collect relevant personal data, explain why they’re collecting it, and also delete it when no longer needed, has not been fully implemented.

So, there are no clear timelines on how long platforms like JioFinance can hold on to your sensitive financial information, and also on whether they can repurpose it to cross-sell you other products such as loans, insurance, mutual funds, etc.