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India: Announced Reserve Bank of India (Outsourcing of Information Technology Services) Directions

Policy overview

Description

Announced Reserve Bank of India (Outsourcing of Information Technology Services) Directions

On 10 February 2022, the Reserve Bank of India (RBI) announced that it would propose the Reserve Bank of India (Outsourcing of Information Technology Services) Directions. The Directions seek to regulate the risks associated with increased outsourcing of services by Regulated Entities (REs) in the financial system.

Original source

Scope

Policy Area
Data governance
Policy Instrument
Data localisation requirement
Regulated Economic Activity
other service provider
Implementation Level
national
Government Branch
executive
Government Body
central bank

Complete timeline of this policy change

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2022-02-10
under deliberation

On 10 February 2022, the Reserve Bank of India (RBI) announced that it would propose the Reserve Ba…

2022-06-23
in consultation

On 23 June 2022, the Reserve Bank of India (RBI) opened a public consultation on the draft Reserve …

2022-07-22
processing consultation

On 22 July 2022, the Reserve Bank of India (RBI) closed their public consultation on the draft Rese…

2023-04-10
adopted

On 10 April 2023, the Reserve Bank of India (RBI) adopted the Reserve Bank of India (Outsourcing of…

2023-10-01
in force

On 1 October 2023, the Reserve Bank of India (RBI) implemented the Reserve Bank of India (Outsourci…