 "Mastercard")
The Reserve Bank of India RBI on Wednesday imposed restrictions on Mastercard from on-boarding new domestic customers including debit, credit or prepaid onto its card network from July 22, 2021.
The company has been found to be non-compliant with the directions on Storage of Payment System Data.
However, these curbs will not impact existing customers of Mastercard.
"Notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data," RBI said in a press release.
Mastercard has to advise, according to the order, all card
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