Chinese Trojans running amok in Indian FinTech New Delhi, July 1 (IANS) Chinese onslaught continues unabated in the Indian lending space, but the regulators have not tightened the regulations around it. Experts say that from a national security standpoint, the issues of beneficial ownership need to be probed. There are issues around data security, privacy and ownership of financial entities by Chinese owners (ultimate beneficiaries). If financial services are a national-security area, then the investments from Chinese pockets need to get fit and proper nod from the Reserve Bank f India. Their ability to fund cash is through the back-door and their hedging cost of capital is 6 per cent vs 15 per cent for Indian companies. Consumer lending in India in the last two years has seen many roadblocks with two NBFC and banking crises showcasing many opportunities for sub-prime and spurious lenders from China making inroads. These lenders hidden in the form of mobile app lenders started to offer easy and instant loans to the consumers, circumventing RBI norms of rational rates and regulatory framework function.