The Reserve Bank of India (RBI) said that entire payment data to be stored in systems located only in India and data processed abroad will have to be brought back to the country within 24 hours.
The RBI had issued a directive in April 2018 on 'Storage of Payment System Data'. It had advised all system providers to ensure that within a period of 6-months, the entire data relating to payment systems operated by them is stored in a system only in India.
The data shall be stored only in India after the processing. The complete end-to-end transaction details should be part of the data.
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