How RBI's hard stand on data localisation will impact key players

Local data storage would not only allow the RBI to have unfettered access to the data but would also enable it to monitor payment systems better

The deadline for global online payment firms and service providers to transfer customer data to Indian servers came to an end on Monday. Nikhat Hetavkar discusses the implications of the RBI’s hard stand on the issue of data localisation and its impact on key players.

What is the debate on data localisation all about? 

In April, the Reserve Bank of India (RBI) gave six months to global payment companies to store transaction data of Indian customers within India. Local data storage would not only allow the RBI to have unfettered access to the data but would also enable it to monitor payment