Data localization has taken centre stage after the release of a draft e-commerce policy and the Srikrishna report. A 6 April RBI circular said: “All system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India. Last week, RBI told payment firms to submit fortnightly updates on the …
If data is likened to oil, it’s with good reason. Recent efforts towards creating a robust data protection framework in India focus on one aspect across various parts of the government machinery—data localization. Four key pronouncements in quick succession have hailed data localization as the solution to protect Indian consumers and safeguard India’s national and economic interests. The bad news, …
