The Reserve Bank of India on Thursday lifted restrictions on Mastercard that it had imposed final yr for failing to adjust to native knowledge storage norms.
The central financial institution had barred the US-based cost gateway from onboarding new clients till it complies with Storage of Payment System Data norms.
“In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte. Ltd…on Storage of Payment System Data, the restrictions imposed…on on-boarding of new domestic customers have been lifted with immediate effect,” the RBI stated in an announcement.
The RBI had barred Mastercard Asia / Pacific Pte from on-boarding new home clients (debit, credit score or pay as you go) onto its card community from July 22, 2021.
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