Consider the following statements:

The Reserve Bank of India’s recent directives relating to ‘Storage of Payment System Data, popularly known as data diktat, command the payment system providers that

1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India
2. they shall ensure that the systems are owned and operated by public sector enterprises
3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year

Which of the statements given above is/are correct?

[UPSC Civil Services Exam – 2019 Prelims]

(a) 1 only

(b) 1 and 2 only

(c) 3 only

(d) 1, 2 and 3

Answer: (a)        

Explanation:

• The RBI has given the following directives relating to Storage of Payment System Data – All system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India (Hence statement 1 is correct).