India: Issued RBI interim ruling in investigation into American Express Banking Corp over compliance with data localisation requirements
Description
Issued RBI interim ruling in investigation into American Express Banking Corp over compliance with data localisation requirements
On 23 April 2021, the Reserve Bank of India (RBI) adopted restrictions on the card network American Express Banking Corp, forbidding it from onboarding new domestic customers from 1 May 2021. The American Express Banking Corp has been found non-comp…
Scope
Policy Area
Data governance
Policy Instrument
Data localisation requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank
Complete timeline of this policy change
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2021-04-23
under investigation
2021-05-01
in force