India, Sept. 26 -- After cyber security solutions provider UpGuard flagged that data set of Indian financial institutions relating to funds transfer via the National Automated Clearing House (NACH) was exposed, IPO-bound NBFC Aye Finance has denied any misconfiguration from its systems.

As per UpGuard, it found that the highest number of files which exposed information like account numbers, transaction amounts, validity periods, bank codes, institution names, and, in many cases, phone numbers, emails, and names were linked to Aye Finance. TechCrunch was the first to report on this development.

"We wish to clarify that there has been no misconfiguration in Aye Finance servers or any kind of data breach. We do not store any NACH Mandate f...