The Reserve Bank of India (RBI) did not extend Monday’s deadline that mandated payment service firms to store data inside the country. “They have been told to report to the RBI on the steps they are taking to meet the data localisation requirement. The TelegraphThe RBI had observed that only certain payment system operators and their outsourcing partners stored data either partly or completely in the country. The banking regulator, which wanted unfettered supervisory access to all payment data, had said ensuring the safety and security of payment systems data and their continuous monitoring and surveillance is necessary to reduce the risks from data breaches. Some overseas operators had then suggested the RBI should allow data mirroring where data is stored both in India and global servers.

Source: The Telegraph October 15, 2018 18:45 UTC