The Reserve Bank of India (RBI), this week, provided clarifications on an earlier circular on data localisation. In April 2018, the central bank had first advised all system providers to ensure that data relating to payment systems operated by them be stored in India.
In some quarters, these clarifications have raised further doubts. While some of concerns, forwarded by lawyers and those who represent multinational companies, seem genuine, people are possibly confusing the many types of data, the many ways it ought to be stored and mirrored. There is personal data, data held by e-commerce companies and cab aggregators. Then, there is payments data.
Business Today spoke to policy experts, strategic experts, and lawyers to make sense of some of the RBI clarifications, and the way forward. Here are some of them: