Mastercard said all new Indian transaction data is being stored at its technology centre in Pune as of October 6, as required by the RBI directive on data localisation.
Rupee misses Fed-inspired rally to again become worst Asian currency
The turn of fortune for India’s rupee couldn’t be more rapid. It has gone from being Asia’s best performer to the worst in two weeks.
A rebound in prices of oil, the nation’s top import, and concerns about an expensive bailout for farmers before general elections to be held by May has caused the rupee to miss out on a revival in emerging currencies. Funds are instead piling into the Indonesian rupiah and Chinese yuan on optimism over trade talks and signs of a Federal Reserve rate hike pause.