India's massive card security deadline unlikely to be extended

FILE PHOTO: A man walks past the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai, India, August 5, 2022. REUTERS/Francis Mascarenhas/File Photo

MUMBAI (Reuters) -India's central bank is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants.

Despite a demand by smaller merchants to delay the compliance date, there has been no indication so far by the central bank that there is likely to be an extension in deadline, three banking and merchant sources with knowledge of the matter told Reuters.