RBI says all data related payments must be stored in India only

R Sinduja

News Editor
Image Credit: shortpedia

RBI has directed to Payment System Operators (PSO) to have all payments related data stored only in India, not abroad in reply to their implementation issues raised. Payment related data should contain end-to-end transactions and also if these are processed abroad, information’s should be deleted from abroad and the same should be brought back to India within one business day or 24 hours from processing, whichever is earlier.