RBI to examine concerns over data localisation rule

New Delhi, June 18 

The RBI will examine concerns around its strict data localisation rules that require storing of customer data exclusively in India without creating mirror sites overseas, the government said today.

The RBI in April last year asked payment firms to ensure their data is stored exclusively on local servers, setting a tight six-month deadline for compliance. That deadline was said to have been missed by some foreign firms, including credit card giants Visa and Mastercard.

Commerce and Industry Minister Piyush Goyal on Monday held extensive consultations with the tech industry and e-commerce companies, a statement by his ministry said.

“All the companies who were represented in this meeting put forth their concerns related to RBI data storage requirements and processing related guidelines issued by the RBI. Deputy Governor of RBI, BP Kanungo, assured the industry representatives that the RBI will look into this,” it said. — PTI

Deadline missed by international giants 

• The RBI in April last year asked payment firms to ensure their data is stored exclusively on local servers, setting a tight six-month deadline for compliance
• That deadline was said to have been missed by some foreign firms, including credit card giants Visa and Mastercard
• International giants usually store data on global servers and the requirement to store data locally would require them to make an additional investment 

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