Payments data must be stored in systems located in India, says RBI

The Reserve Bank of India (RBI) has said all data related to payment transactions must be stored in the country and that such information, if processed abroad, will have to be brought back within 24 hours.

“The entire payment data shall be stored in systems located only in India,” the RBI said in its frequently asked question (FAQ) section on Wednesday, responding to certain issues raised by payment system operators. “The data should be deleted from the systems abroad and brought back to India not later than one business day or 24 hours from the payment processing, whichever is earlier,” it added.

The clarification has come a week after the government said the RBI would examine concerns around its strict data-localisation guidelines.