WhatsApp sets up system to store payments-related data locally

Agencies
October 9, 2018

New Delhi, Oct 9: Messaging platform WhatsApp Tuesday said it has set up a system in India that stores payments-related data locally in the country to comply with RBI regulations.

The Reserve Bank of India (RBI), in a circular dated April 6, had said all system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India.

It had given time till October 15 to comply with the mandate.

"In India, almost one million people are testing WhatsApp payments to send money to each other in a simple and secure way. In response to India's payments data circular, we've built a system that stores payments-related data locally in India," a WhatsApp spokesperson said.

The spokesperson added that the company hopes to expand the feature across India soon, so that it can "contribute to the country's financial inclusion goals".

RBI, in its April order, had said it is important to have "unfettered supervisory access to data stored with these system providers as also with their service providers/intermediaries/third party vendors and other entities in the payment ecosystem" to ensure better monitoring of payment service operators.

RBI further said data should include the full end-to-end transaction details, information collected/carried/ processed as part of the message/payment instruction.

Comments

Sandesh
 - 
Tuesday, 9 Oct 2018

Whatsapp not at all safe. It may be another trick from centre. During demonetisation, Paytm made huge benefit with feku

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News Network
May 21,2020

Bengaluru, May 21: The prestigious Bengaluru Tech Summit (BTS) on Wednesday been postponed to November 19 to 21 2020 in view of the prevailing conditions.

A decision to this effect was taken at a meeting chaired by Deputy Chief Minister C S Ashwathnarayan, who is also the Minister for IT/BT, here.

Originally, the BTS was scheduled for September 21-23 this year. However, owing to anticipated inability of international delegates to attend the summit in view of Covid-19, BTS has been postponed, informed Dr Ashwathnarayan.

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News Network
January 25,2020

Bengaluru, Jan 25: To address the grievances of the Industrialists, over the issue of acquisition of land, the state government have plans to dilute the Land Reforms Act, Chief Minister B S Yediyurappa, said here on Saturday.

Speaking to the media here, on his visit to the World Economic Forum, Davos, recently he said that 'the visit was fruitful and ends with satisfactory note by procuring promises from several Industrial houses to investment in Karnataka'.

Stating that during his five-day stay at Davos, he had met several Industries heads on the sidelines of the summit, and had an interactive meeting with them, Chief Minister said that 'the event had helped us to present our state Karnataka, to convince them about the prevailing industry-friendly environment'.

He said that he had met several heads of global companies, including Arcelor Mittal, Kirloskar, MAHINDRA, Bharat Forge, 2000 Watt, general electrical, Dassault, Dalmia, Lulu Group, Volvo, Nova Nosdik and Domeco.

'The interaction with the corporate heads was encouraging and more investment is expected to flow into Karnataka, in the fields of Mining, Power, Agriculture, Pharma, Education, and Industries.'

Informing that the main grouse expressed by the Industrialists about the bottlenecks being faced in the Land Reforms Act to procure land, he said that 'To make ease of conversion of Agricultural land we have plans to bring amendment and it would be both win-win situation to both Farmers as well as Industries.'

'We have promised them to remove all hurdles, which comes in the way of acquiring land to set up industries, and we have promised to rectify all the administrative problems within a month or two and legal problems in the next couple of months by amending existing laws.'

'We have also plans to present a new Industrial policy in the coming budget and roll out a comprehensive and investor-friendly law', he further said.

Replying to questions, Chief Minister said that 'all those investment proposals which got clearance at the High-Level Clearance Committee would automatically considered as ‘deemed permission’ and start the process of acquisition of land'.

'TheWorldEconomic Forum Summit had also served us as a platform to invite Industrialists to take part in the Karnataka Global Investors Meet scheduled to be held in November this year', he added.

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News Network
March 10,2020

Bengaluru, Mar 10: Congress leader NA Haris on Tuesday said that keeping Jammu and Kashmir leaders under house arrest is not democratic.

Speaking to media persons he said, "It is not done. Keeping the leaders under house arrest in Jammu and Kashmir is not democratic."

Haris said that nobody is talking about it. Prime Minister Narendra Modi is not talking about it and nothing is happing.

"About Kashmir, it is better to say less as nobody is talking about it. Prime Minister Narendra Modi is not talking about it and nothing is happening. It does not look good," he told media.

"I think leaders should be brought to the table and discussion on issues should take place. Do whatever has to be done for the country," he added.

The Jammu and Kashmir Administration had on February 5 invoked the Public Safety Act (PSA) against former Chief Ministers Mehbooba Mufti and Omar Abdullah. The duo was detained after the Central government abrogated Article 370 last year.

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