News By/Courtesy: Srinath Sambangi | 13 Sep 2018 12:07pm IST

HIGHLIGHTS

  • Technology giant Google has sought two more months from Indian Government after being asked to comply with the Reserve Bank of India guidelines regarding the storage of data by digital payment service
  • Earlier this April, the Reserve Bank of India has asked the payment system operators to store data including the end to end data from the information collected in India.
  • These service providers were given a deadline of 6 months till October 15th in order to comply.

Technology giant Google has sought two more months from Indian Government after being asked to comply with the Reserve Bank of India guidelines regarding the storage of data by digital payment service providers that are locally functioning. Earlier this April, the Reserve Bank of India has asked the payment system operators to store data including the end to end data from the information collected in India. These service providers were given a deadline of 6 months till October 15th in order to comply. Sundar Pichai, CEO of Google has informed Electronics and IT Minister Ravi Shankar Prasad regarding the same and further stated that Google Pay, formerly known as Google Tez will comply with the rules made by the Government of India. An official from the Information Technology Ministry had confirmed this and stated the Mr. Pichai has asked for an extension of 2 months to comply with these regulations and storage of financial data in India. He went on say that India maintaining the cross-border data flow which is an essential phenomenon for global economic activity and universal access to the information.

Section Editor: Priyanshu Gupta | 13 Sep 2018 12:12pm IST


Tags : #India#Science & Techonology#Google#Storage Norm

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