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RBI Allows Multinational Banks to Store Limited Set of Data in Offshore Servers - (12 Oct 2021)

Banking

Reserve Bank of India (RBI) has allowed multinational banks operating in the country to store a limited set of data in offshore servers. Certain fields of static information such as name and address of client, some know-your-customer details along with select transaction particulars like date and amount, name of beneficiary, and reference number can be stored abroad by foreign banks.

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