RBI allows Mastercard to onboard new customers after a 11 month Ban
RBI had earlier barred Mastercard from onboarding new domestic customers on its network over non-compliance with local data storage guidelines
In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte. Ltd. with the Reserve Bank of India (RBI) circular dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed vide order dated July 14, 2021
Now Master Card Can Issue New DEbit & Credit Cards Along with It's Banking Partners In India