The Reserve Bank of India & NPCI altogether have declared new guidance for payment operators that are about alleviating the risks of Storage of Payment System Data of information technology in current payment system. This is the main reason behind RBI Data Localization Audit and its importance.
According to the notification from the RBI to mandate the storage of all end-to-end transaction data within India on April 8, 2018, the central banking institutions, and controlling monetary policies in India, it is necessary to unrestricted supervisory access to all the payment data. Data Localization is also important – referred to as a Government policy to store the user data collected within its jurisdiction on the servers located within the country.
The RBI has authorizes all transaction operators (global and local transactions) to preserve all end-to-end payment data within the country. This authorization is relevant for every organization handling payment data, initiating from financial firms that perform peer-to-peer payment transactions to gateway to operators that are accessed globally for universal funds transaction.
We at Cybertryzub conduct an initial audit to know about the infrastructure of the organization. We help you indentify the storage location that comprises of any payment related data.
Feel free to contact us for RBI Data Localization Audit.