India: Implemented RBI ruling in investigation into Mastercard Asia / Pacific over compliance with data localisation requirements
Compare with different regulatory event:
Description
Implemented RBI ruling in investigation into Mastercard Asia / Pacific over compliance with data localisation requirements
On 22 July 2021, the Reserve Bank of India (RBI) implemented its restrictions on Mastercard Asia / Pacific, forbidding it from onboarding new domestic customers on its card network. The company has been found non-compliant with the directive on the storage of payment system data. The directive requires all payment system providers to store the payment data only in India. The data subject to the localisation requirement includes full end-to-end transaction details, such as information collected, carried and processed as part of the payment instruction.
Original sourceScope
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
Hide details
2021-07-14
under investigation
2021-07-22
in force