BUSINESS

Google wants more time to meet data storage norms

Pichai’s pitch:The Google CEO wrote to IT Minister Ravi Shankar Prasad stressing on free flow of data.pti  

Technology giant Google has sought two more months from the Indian government to comply with RBI guidelines mandating storing of data by digital payment services providers locally.

The Reserve Bank of India (RBI), in April this year, had directed payment system operators to store all data, including full end-to-end transaction details and information collected, within India. The service providers were given six months till October 15 to comply.

“Google CEO Sundar Pichai in a recent meeting, informed Electronics and IT Minister Ravi Shankar Prasad that their digital payments platform Google Pay, will comply with all Indian regulations,” a senior IT Ministry official said.

“He, however, also asked additional time of about two months to comply with these regulations, including storing of financial data in India,” the official added. The Minister met Mr. Pichai at the U.S. during his visit last month. A Google spokesperson did not confirm the development. However, the spokesperson said, “We maintain that cross border data flows today are ubiquitous and an essential phenomenon for global economic activity and universal access to information.”

Economic value

“Soaring data flows generate more economic value and hence the socio-economic impact of restricting data flows must be thoroughly considered while framing any policy. There is a need to find practical and contemporary solutions to policy issues in line with global best practices. we have nothing to add at this point of time,” the spokesperson added.

Mr. Pichai, in a letter to the Minister after his visit, had also pitched for free flow of data across borders. “Free flow of data across borders with a focus on user privacy and security will encourage start ups to innovate and expand globally and encourage global companies to contribute to India's digital economy,” he had said.