India: Announced lifting of restrictions imposed on Diners Club International Ltd for compliance with data localisation requirements

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Description

Announced lifting of restrictions imposed on Diners Club International Ltd for compliance with data localisation requirements

On 9 November 2021, the Reserve Bank of India (RBI) lifted the restrictions on Diners Club International Ltd, following the company's compliance with the localisation requirement for payment system data. On 23 April 2021, the RBI issued an order forbidding Diners Club International Ltd from onboarding new domestic customers from 1 May 2021 due to its non-compliance 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 source

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
in force

On 23 April 2021, the Reserve Bank of India (RBI) adopted restrictions on Diners Club International…

2021-05-01
in force

On 1 May 2021, the Reserve Bank of India (RBI) implemented its restrictions on the card network Din…

2021-11-09
revoked

On 9 November 2021, the Reserve Bank of India (RBI) lifted the restrictions on Diners Club Interna…