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.
