From Facebook to Amazon, global majors seek US help on RBI data norms

Major US multinationals operating in India have sought the help of the US Treasury to ensure that strict local data storage norms of the Reserve Bank of India (RBI) are watered down. Highly-placed sources said companies like Visa, Mastercard, American Express, PayPal, Google, Facebook, Microsoft and Amazon, as well as global banks, had several calls between themselves to form industry-level lobby groups opposing the RBI’s data localisation guidelines. A few other powerful lobby groups such as the Securities Industry and Financial Markets Association (SIFMA), the Global Financ.....

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