Insta
Master Card Falls In Line: Proposes Timeline To RBI To Delete Indian Data From Global Servers
(Website/LogoDesignLove)
American multinational financial services firm, Mastercard has proposed a ‘certain’ date to the Reserve Bank of India from which it will begin deleting data of Indian customers from its global servers, reports Business Standard (BS).
In April 2018 RBI issued a new regulation which mandated payment companies to store all information of transactions made by Indians to be stored only inside India, which came to effect on 16 October 2018.
India and Division President, South Asia Master Card, Porush Singh, said the company is operating in over 200 countries, and no other country has asked to delete data from global servers.
The company has started to store all data of new transactions in its technology centre in Pune beginning from 6 October and is waiting for the nod of RBI to commence the deletion of data from global servers.
"The proposal we have given is that we will delete it from everywhere else, whether it is the card number, transaction details. The data will only be stored in India. We will start deleting that.." added Singh.
He further said that deleting data is not a press of a button because, “people can charge you...dispute the transactions, that all in process ... it needs multiple players, multiple stakeholders. We have given them (RBI) a proposal and we are waiting for them to confirm back.”
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
