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On 15 October 2018, the compliance reporting requirement with data localisation outlined in the directive on the storage of payment system data was implemented. 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. If the transaction involves a foreign entity, the data can also be stored in the foreign country if required by the other country's regulations. All systems were required to comply with the directive within six months and to report compliance to the Reserve Bank.
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