So, the reason is that the entirety of the customer data must be stored locally in India, rather than on a server located elsewhere[0]? Does anyone know why the rule in India is so much stricter than the equivalent GDPR rule[1], which allows transfer of data outside the EU in various circumstances (basically if it's assured that it won't lead to the data being subject to much laxer standards of protection)?
According to the article, the banks are saying the reason it's much stricter than the equivalent EU data residency requirements is to ensure the Indian government can spy on customer data. Is there a more reasonable, less malicious reason they may have written the requirements this way?
According to the article, the banks are saying the reason it's much stricter than the equivalent EU data residency requirements is to ensure the Indian government can spy on customer data. Is there a more reasonable, less malicious reason they may have written the requirements this way?
[0] https://rbi.org.in/CommonPerson/english/Scripts/FAQs.aspx?Id...
[1] https://gdpr.eu/article-44-transfer-of-personal-data/