wordpress blog stats
Connect with us

Hi, what are you looking for?

What happened at RBI’s October 2018 meeting on localisation

Credit: PTI

Post a controversial meeting with the RBI, United States India Strategic Partnership, a think tank, publicly called out iSPIRT, a Bangalore-based private think tank, and also wrote to the Finance Ministry citing a conflict of interest. The USISPF had pointed out that iSPIRT is a private association, is not a stakeholder in the consultation, is not empaneled by the RBI, and isn’t an official technical advisor to the government or the RBI. The think-tank had also pointed out that Reserve Bank of India (RBI) officials had placed “great reliance” on iSPIRT inputs. Held on October 10, 2018, four days before its payments data localisation mandate kicked in, the RBI meeting with payments companies (that were non-compliant with the localisation directive) focused compliance status with the localisation mandate and on issues faced by payments operators. MediaNama has obtained a copy of the minutes of this meeting through RTI (attached below). From the RBI, deputy governor BP Kanungo and chief general manager P Vasudevan were present. NPCI and iSPIRT were also present, although its unspecified who represented the organisations. Kanungo had said the meeting was called "mainly to understand" if payments operators were "encountering any technological glitches or issues hindering implementation of requirements", and that "iSPIRT would help the entities in addressing such issues, if required". iSPIRT representatives said data localisation was "very much technologically feasible" and could be implemented in multiple ways; the entities "should seize this opportunity and benefit from the first mover advantage by redesigning not just storage but…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ