cryptohunter
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In India, electronic money institutions have to follow strict rules set by the Reserve Bank of India (RBI) to handle customer data and keep it private. These rules are important to make sure that when people use electronic money services, their information is safe.
One big rule is about knowing the customer, called KYC. Before giving electronic money services, these institutions have to check and make sure the customer is who they say they are. This helps keep things secure and protects customer data.
There are also rules about how customer data is used. The Personal Data Protection Bill and other regulations say that electronic money institutions can only collect, process, and store customer data if the customer says it iss okay.
One big rule is about knowing the customer, called KYC. Before giving electronic money services, these institutions have to check and make sure the customer is who they say they are. This helps keep things secure and protects customer data.
There are also rules about how customer data is used. The Personal Data Protection Bill and other regulations say that electronic money institutions can only collect, process, and store customer data if the customer says it iss okay.