In a circular issued, the Reserve Bank of India (RBI) instructed all parties, aside from card networks and card issuers, to delete all previously stored Card-on-File (CoF) data by—

September 1, 2022
October 1, 2022
September 31, 2022
October 31, 2022

Correct answer: October 1, 2022

Solution

The RBI directed merchants and other entities, except card networks and card issuers, to delete stored CoF data by 1 October 2022. This was part of tightening card tokenisation and payment data storage norms.

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