The customers' data has been put up for sale on a data sharing platform on June 15 and the incident has been reported to Computer Emergency Response Team (CERT) by Technisanct.
Nandakishore Harikumar, founder and CEO of Technisanct said that such incidents raise the possibilities of financial frauds among Indians.
He said that the details in the database could be used by Cyber Criminals to target the victims of breach through various scams via online and phone.
"The lack of data security authority in India has resulted in a massive increase in the number of such cases. Even while breaches are identified, non-existence of a regulatory body paves way to repeated breaches with the same brand", he added.
The leaked data include Personal Identifiable Information (PII) such as name, customer ID, contact number, email ID, trade login ID, branch ID, city and country.
The security breach was identified by Technisanct's digital risk monitoring tool 'Integrite'.