Global card payments major Mastercard has proposed to the Reserve Bank a "certain" date from which it will start deleting data of Indian cardholders from global servers but warned that it would also mean weakening of "safety and security" over a period of time. Mastercard said all new Indian transaction data is being stored at its technology centre in Pune as of October 6, as required by the RBI directive on data localisation. The data will only be stored in India ... we will start deleting that...," Singh said. He further said Mastercard has proposed to the RBI that Indian data would be be stored locally and nowhere else. The senior Mastercard official, however, added that the company has also informed the central bank about the impact of data deletion.

Source: dna December 16, 2018 06:45 UTC