Govt asks Amazon, Flipkart to store payments data within India: report

The Ministry of Electronics and Information Technology or MeitY is urging e-commerce companies like Amazon and Flipkart to store all consumer payments data within India, Financial Express reported.

Sources told the newspaper that the ministry wrote to the department of industrial policy and promotion (DIPP) to bring these e-tailers in the local data storage rules as per the e-commerce policy. DIPP is the body in-charge for making policies and issuing directives to e-commerce companies.

The report said that MeitY wants to plug the loophole which exists after the central bank made it compulsory for all payment companies like Visa and Mastercard to store the payments data within the country.