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nData Diktat is a directive of RBI. According to thisndirective, all financial entities are required to keep payment and allntransaction data in India. The directive intends to protect Indian citizensnfrom financial fraud that may happen outside India. It also forbids financialninstitutions, like VISA and Mastercard, to keep only mirror image of data innIndia.
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nThey are required to ensure that all data relating tonpayment systems operated by them in India are stored in a system in India.
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