Moneycontrol News
The RBI will stick to its April directive that insists that all stakeholders will have comply with the clauses on data localisation.
The central bank has also indicated that the October 15 deadline mentioned in the document will not be deferred. All payments companies operating in India will have to present their plans for compliance.
Global companies are expected to be hit by the directive as they will have to incur higher costs to set up local servers. Domestic companies have backed the RBI diktat.
Sakshi Batra is in conversation with Gaurav Choudhury, Deputy Executive Editor, Moneycontrol, to find out which companies will be hit the hardest, and also whether this move can be a precursor for the framing of a stringent Data Protection Bill.
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