New Delhi: The government and the Reserve Bank of India will address all the concerns of technology and e-commerce firms around India’s data storage and protection norms and new legislation that are in the pipeline, an official statement said on Tuesday. The assurance comes after commerce and industry minister Piyush Goyal met representatives of technology and e-commerce firms on Monday …
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 …
The RBI announcement mandating data localization for payment data in April had met with wide objections from the industry, on account of the major changes to the processes as well as costs to companies in setting up payment services in India. Recent news of Apple Pay being put on hold on account of, among other things, the RBI’s data localization …
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