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MCA Notification on Data: Daily Backups Now Mandatory in India

in General Ledger & Intercompany 6 comments

So, what's expected of organizations?

  1. Enable the Audit Trial? < Fusion Cloud ERP Legislative Update Center (support.oracle.com >
  2. Companies must now ensure daily backups of their financial data, including ledgers, invoices, and supporting documents. These backups must be stored on servers physically located within India, regardless of where the primary data resides, even if it's on cloud servers outside the country.

What is Companies (Accounts) Amendment Rules 2021

The Ministry of Corporate Affairs (MCA) in India requires companies to back up their electronic books of accounts and relevant documents daily and store those backups on servers located in India. This mandate went into effect on August 11, 2022, as part of the "Companies (Accounts) Fourth Amendment Rules, 2022".

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