ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business trends

India's proposed personal data rules unnerve business

Companies cry foul over plans to restrict cross-border transfers of information

As the government prepares tough new rules on data protection in India, businesses complain the restrictions will raise their costs and stifle innovation. (Photo by Ken Kobayashi)

NEW DELHI -- India's business community is launching a last-ditch campaign to reverse tough new rules on storage of personal financial data, as New Delhi prepares to implement one of the world's toughest internet regimes.

From next week, payment companies such as Visa International, MasterCard and PayPal will be barred from storing transaction records and related data outside India. The new rule, introduced by the Reserve Bank of India and set to come into force on Oct. 15, is designed to ensure regulatory access to that data.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more