India-Specific Data Backup

Summary:

During recent amendments made by the Ministry of Corporate Affairs (MCA) in India regarding Accounts Rules. These amendments have introduced stringent compliance requirements for maintaining books of accounts in electronic mode, especially when these records are kept outside India.

To comply with these new regulations, companies must ensure that their electronic records are always accessible within India for verification by regulatory authorities. In light of this, we have a requirement to extract India-specific financial and audit data from our Oracle Fusion Cloud global instance and store it in the OCI Mumbai region. This move will help us meet the Indian data residency laws.