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UPSC 2019: Consider the following statements: The Reserve Bank of India’s recent directives relating to ‘Storage of Payment System Data’, popularly known as data diktat, command the payment system providers that 1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India. 2. they shall ensure that the systems are owned and operated by public sector enterprises. 3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year. Which of the statements given above is/are correct?
(a)1 only
(b)1 and 2 only
(c)3 only
(d)1, 2 and 3
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Not attemptedCorrect Answer: (a) 1 only
RBI’s 6 April 2018 circular on ‘Storage of Payment System Data’ directs that all payment-system data be stored only in India (statement 1). It does NOT mandate that systems be owned/operated by public-sector enterprises, nor does it require submission of the audit report to the CAG—the System Audit Report is to be filed with RBI (statements 2 and 3 are incorrect). Hence only statement 1 is correct. ([rbi.org.in](https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=11244&utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2019 Indian Economy question?▼
The correct answer is option (a): 1 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Digital Payments & Financial Inclusion question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2019, GS Paper 1, as Question 87. It falls under Indian Economy > Digital Payments & Financial Inclusion.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from Digital Payments & Financial Inclusion?▼
UPSC has asked 20 questions from Digital Payments & Financial Inclusion (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.