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RBI seeks update on payments data storage every fortnight

Sunday, June 10, 2018, 7:58 PM

Amid concern around data-security, the RBI is learnt to have asked payment services firms to provide an update on action taken by them to store transaction data in the country in every fortnight. "You are hereby advised to inform the status of ensuring compliance...The same shall be submitted by June-8, 2018, followed by an update on progress at fortnightly intervals thereafter," the RBI said.

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