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India bans MasterCard from adding new customers

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Re: India bans MasterCard from adding new customers

#41

Post by thayne »

herbst wrote: post #32
zohch wrote: post #31

Earlier quoted context omitted.

What makes it fair and reasonable and does whatever rationale you use here not open up the door to further nativism? I mean if it is fair and reasonable that Indian transactions should be stored and processed in India, is it not also fair and reasonable that goods sold in India should be made in India, that movies that show in India should be made in India, that all news consumed in India should be written in India?…

There is a huge difference to your other examples. The US does not actually have a good track record with protecting their customers with proper privacy laws.

I'm not sure what that has to do with this. There could be laws requiring that the data be kept secure and private without specifying that it has to be kept in a certain location.

Besides which, India doesn't have a good track record of protecting privacy either.

Re: India bans MasterCard from adding new customers

#42

Post by iamgopal »

kspacewalk2 wrote: post #28

The obsession with where data physically sits at rest is so amusing to me. Not limited to overzealous governments and financial data; healthcare is singularly obsessed with this. It makes no sense whatsoever, of course. I'd much rather store properly encrypted personal information or financial data in North Korea than storing it unencrypted in my home country. I would understand if they demanded both storage and proc…

Also, All big company shows server expense from foreign country and move profit earned from India to abroad. This way some part of the profit stays in india.

Re: India bans MasterCard from adding new customers

#43

Post by herbst »

thayne wrote: post #41
herbst wrote: post #32

Earlier quoted context omitted.

There is a huge difference to your other examples. The US does not actually have a good track record with protecting their customers with proper privacy laws.

I'm not sure what that has to do with this. There could be laws requiring that the data be kept secure and private without specifying that it has to be kept in a certain location. Besides which, India doesn't have a good track record of protecting privacy either.

True, but if it's not hosted under your own control it basically is fully out of your control. Doesn't the US gov / the 3 letter agencies basically have access to everything hosted within the US?

Sure there are other ways, but India seems to like to go for the most radical solutions at times

Re: India bans MasterCard from adding new customers

#44

Post by rfd4sgmk8u »

ncallaway wrote: post #24
seunosewa wrote: post #18

Earlier quoted context omitted.

How about just avoiding wars? Global interdependence of countries is beneficial for this reason. Also, India's military is no match for and unlikely to have any reason to fight the external countries where MasterCard's data is likely to be stored (US, UK, etc).

> How about just avoiding wars? Countries simply do not have the unilateral ability to avoid wars.

The easiest way to prevent war is to make it uneconomical -- like it was in the past. War should bankrupt a country. Years long fighting like we saw in the 20th century is a product of loose monetary policy.

When a country can print itself out of debt (or more accurately, kick the can down the road for the next generation), war is inevitable. If we remove the ability to do this, a prolonged war becomes far less likely.

Re: India bans MasterCard from adding new customers

#45

Post by KineticLensman »

ntrz wrote: post #13
kyrra wrote: post #8

Earlier quoted context omitted.

Yes, it is. You either need to entirely fork your operation to have it operate entirely within India, or be extremely careful with how you store your data, and store the data only in India, but process it in other data centers without ever having it touched disk. Which I believed means you can never even log the data.

The rule[0] says that you can process the data abroad, including storing it on disk temporarily for purposes of processing, as long as it is deleted within 24 hours. So it's not quite as strict as requiring it be kept in memory the whole time without ever writing to disk, but it does sound like you probably couldn't keep detailed logs. [0] https://rbi.org.in/CommonPerson/english/Scripts/FAQs.aspx?Id...

> but it does sound like you probably couldn't keep detailed logs.

Or backups.

Re: India bans MasterCard from adding new customers

#47

Post by addicted »

pavs wrote: post #29
debacle wrote: post #17

It is good to see India growing as a world power as the largest democracy in the world.

They have been "growing" and "becoming" the next world leader for a while now. Anyone who have lived in india long enough will tell you how far from the truth this is. The only Stick India has, besides their nuclear arsenal, is the size of their domestic market (aka population). I dont think the purchasing power of their domestic market is that lucrative compare to actual superpowers (Economic or Military). Buy just…

To be fair, there was a strong bull case to be made for India till the early 2010s, especially in how well it recovered from the financial crisis.

The problem is that Modi has brought an insane blend of pre liberalization economic policy, centralized authoritarian control, and british inspired religion based divide and conquer policies that have set India back a couple of generations at least, possibly permanently if he remains in power and continues down this path.

Re: India bans MasterCard from adding new customers

#48

Post by DesiLurker »

seunosewa wrote: post #18
frabcus wrote: post #10

Earlier quoted context omitted.

If I was running a large country, I'd want transactions to be entirely local for national security reasons. Generally, in the event of a world war, I wouldn't want it to be trivial for other countries to remotely cut off my whole economy.

How about just avoiding wars? Global interdependence of countries is beneficial for this reason. Also, India's military is no match for and unlikely to have any reason to fight the external countries where MasterCard's data is likely to be stored (US, UK, etc).

>How about just avoiding wars?

that's a silly remark. are you suggesting that countries can simply avoid wars and accept the consequences just because some credit cards will stop working ?

edit: formatting

Re: India bans MasterCard from adding new customers

#49

Post by seunosewa »

ncallaway wrote: post #24
seunosewa wrote: post #18

Earlier quoted context omitted.

How about just avoiding wars? Global interdependence of countries is beneficial for this reason. Also, India's military is no match for and unlikely to have any reason to fight the external countries where MasterCard's data is likely to be stored (US, UK, etc).

> How about just avoiding wars? Countries simply do not have the unilateral ability to avoid wars.

Countries rarely go to war with countries that they don't share borders with. For India, that's China, Bhutan, Nepal, Pakistan, Afghanistan, Bangladesh and Myanmar. Making sure that MasterCard does not store their transaction data in any of those countries should be sufficient.

Re: India bans MasterCard from adding new customers

#50

Post by NotEvil »

herbst wrote: post #43
thayne wrote: post #41

Earlier quoted context omitted.

I'm not sure what that has to do with this. There could be laws requiring that the data be kept secure and private without specifying that it has to be kept in a certain location. Besides which, India doesn't have a good track record of protecting privacy either.

True, but if it's not hosted under your own control it basically is fully out of your control. Doesn't the US gov / the 3 letter agencies basically have access to everything hosted within the US? Sure there are other ways, but India seems to like to go for the most radical solutions at times

US having access to indian date has limited impact on india while Indian govt having same data have major impact on india
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