payment datum

The RBI clarified that there is no bar on overseas processing of strictly domestic transactions; however in such cases, this data shall be stored only in India after the processing.(FILEPHOTO)

Erase payment data from foreign servers in 24 hrs, says RBI

By Shayan Ghosh | Hindustan Times, Mumbai
UPDATED ON JUN 27, 2019 07:26 AM IST
The RBI had, on April 6, 2018, asked payment system operators to store data related to payments in India. These regulations were expected to affect companies like Mastercard, American Express, Amazon, Facebook, Microsoft, Visa and PayPal who will be forced to store data locally.
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