Google to comply with RBI norms for payment services

RBI

Internet giant Google is said to comply with the Reserve Bank of India (RBI) for payment services to host customer data locally, according to the top officials in the Ministry of Electronics and Information Technology.

The official, who was present at a meeting between Union Minister for Electronics and IT, Ravi Shankar Prasad, and Google CEO Sundar Pichai last month at the internet giant’s US headquarters, said that Pichai had conveyed the company’s decision to abide by RBI’s directions on data localisation.

However, Pichai has sought two months of time to comply with the RBI norms, an official in the ministry said.

Asked about the extension of time, a Google 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. 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.”

Reportedly, Google during the US visit of law and IT minister Ravi Shankar Prasad conveyed to him that they are ready to comply with RBI rules but want two months more to comply with data storage rule.

Prasad visited Google headquarters in California in August-end.

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