RBI Unlikely To Extend Oct 15 Deadline On Data Localisation

The Reserve Bank of India is unlikely to extend the October 15 deadline for the payments ecosystem players to set up a facility to store transaction-related data in India. Those players that do not comply with the central bank’s April 2018 circular could face penalties and restrictions on operations.

 “The RBI has a fair ask here, but they seemed to have rushed the matter. Global companies should have been given at least a 12-month horizon, with more clarity on guidelines around data storage, how much to store, what to store, and the tenure. It is not about putting a hardware somewhere, it is also about processes and it takes time,” said Sanchit Gogia, Chief Analyst, founder and CEO at advisory firm Greyhound Research.

[Hindu Business Line]


Analyst:

Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, an award-winning global research & advisory firm. To read more about him, click here.

Have a question on this or other Digital Transformation topics? Click here to set up an enquiry call with Sanchit Vir Gogia.


Copyright © 2018 Greyhound Research. All rights reserved. You may share this research note using the options made available. Please don’t copy this research note (complete or parts) and distribute over the web and emails. Connect with us if you need clarifications.

Leave a Reply