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No entity can store card transaction data from August 2025: RBI draft rule
The New Indian Express
|April 18, 2024
THE Reserve Bank of India in its new draft directions on regulation of Payment Aggregators (PAs) has said from August 1, 2025, no entity in the card transaction, except for the card issuer and card networks, will be allowed to store data.
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It said any such data stored previously will be purged and for transaction tracking or reconciliation purposes, entities can store the last four digits of card number and card issuer's name.
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