‘Data storage rule may undercut AML’
Leading foreign banks in the country have appealed to the Reserve Bank of India (RBI) for allowing them to store certain transaction data overseas for spotting money-laundering deals and sanctions screening.
View: Google's push into Indian retail banking is a threat to traditional lendersThe same slow, painful decline that gutted the print media after readers and advertisers moved online and publishers lost their sway over them may be waiting in the wings for banking, too.
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