Payment Firms News
Govt to review data storage rules for payment firms; RBI assures industry representatives to look into the issue
The Reserve Bank of India (RBI) will look into concerns about data storage rules that have been raised by companies, a government statement said on Tuesday
Govt proposes easing local data storage rules for foreign payment firms after intense lobbying by US firms
Easing the proposal would be a relief for firms including MasterCard, Visa, and American Express, which fear the country's data onshoring move could cost them millions of dollars and set a precedent for other major governments to implement similar rules at a time when there is heightened scrutiny of how companies globally handle their customers’ data.