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Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
6. Explain the RBI’s Data localisation policy and the justification behind it. (250 words)
Reference: The Hindu
Why the question:
The Reserve Bank of India (RBI) recently banned Mastercard from issuing new debit and credit cards to customers in India with effect from July 22. Thus the question.
Key Demand of the question:
Discuss in detail the RBI’s Data localisation policy and the justification behind it.
Directive:
Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.
Structure of the answer:
Introduction:
Start with what the RBI’s policy is about.
Body:
Data localisation is storing of data on a device physically present within the borders of the country where the data was generated.
Discuss why RBI is for the data localisation policy.
Explain what is the need for local data storage?
Discuss the challenges associated with it.
Conclusion:
Conclude with way forward.
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