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RBI sets a 24-hours deadline to bring back data, to Google, Amazon and others

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The Reserve Bank of India has said that all payment related data of India, should be bring back to India server within 24 hours. This means that,  if any foreign company like Google Pay, Amazon and others, do a transaction in India, either they have to save data directly in India server or if they need to process it in other country, then they have to save back the data to India server within 24 hours. In April 2018, India initiate the demand for Data Localization and now they are improving the system with reiterating the system for data backing within 24 hours.

Condition:

What RBI said is, ” There is no bar on processing of payments transaction outside India, if needed by company, However the data shall be stored only in India after the processing”

So, the RBI had given a 24 hours deadline to bring back the data to India after processing is completed outside the country. And, In case they need the data to do some modification or charge back, they can access the data from Indian server, and later the data needs to be deleted abroad and brought back to India within 24 hours from payment processing.

For Cross- border payments, the data related to domestic component of the transaction may be stored abroad, but a copy of the data needs to stay in India.

 

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