Policies restricting data flow 'barriers' to growth of payments market in India: USIBC
With the RBI standing firm on its data localisation stance, the US-India Business Council (USIBC) Tuesday cautioned that policies restricting flow of data can act as "barriers" to expansion of services in India, impacting not only consumers but also growth of Indian payments market.
RBI, in April, had issued a circular instructing all payments system providers in the country to ensure that data relating to systems operated by them is stored only in India and had set a deadline of October 15. Image source: Pixabay