RBI Action on Mastercard
Industry development & statement
Context
Statement
This is a bold move by the central bank and highlights the importance it gives to the protection of our citizen's personal data – especially sensitive data like that related to financial transactions. ADIF strongly supports the need for data localisation. It’s imperative that all organisations respect the laws and necessary action be taken towards their implementation.
Links
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51895
https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/PR5309163E3DE3C9140A1A574D3647A0B9D8E.PDF
Coverage
https://inc42.com/buzz/rbi-bars-mastercard-from-acquiring-new-customers-for-violating-data-policy/
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