HCL Tech Q4 net declines 6% IT firm HCL Technologies on Friday posted a 6.1 per cent dip in consolidated net profit to Rs 2,962 crore for the March quarter. The Noida-headquartered firm has also announced a special interim dividend of Rs 10 per share to mark the USD 10 billion annual revenue milestone.
RBI sets restrictions on American Express, Diners Club The Reserve Bank has restricted American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1 for violating data storage norms. The order will not impact the existing customers of these two entities, the central bank said in a statement on Friday.
The two payment system providers have been penalised for violating data storage norms The Reserve Bank of India has restricted American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1 for violating data storage norms. The order will not impact the existing customers of these two entities, the central bank said in a statement on Friday. American Express Banking Corp and Diners Club International Ltd are Payment System Operators authorised to operate card networks in the country under the Payment and Settlement Systems Act, 2007 (PSS Act). The RBI has imposed the restrictions on American Express Banking Corp and Diners Club International by an order dated April 23, 2021.
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Reserve Bank of India (RBI) restricts American Express Banking Corp and Diners Club from on-boarding new customers from May 1.
The Reserve Bank of India (RBI) restricted American Express Banking Corp and Diners Club from on-boarding new customers from May 1, PTI reported.
RBI in its order dated April 23, 2021, imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from on-boarding new domestic customers onto their card networks from May 1, 2021. These entities have been found non-compliant with the directions on Storage of Payment System Data. This order will not impact existing customers.
American Express Banking Corp. and Diners Club International Ltd. are Payment System Operators authorised to operate Card Networks in the country under the Payment and Settlement Systems Act, 2007 (PSS Act).
RBI imposes restrictions on American Express, Diners Club
By IANS |
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Reserve Bank Of India. Image Source: IANS News
Mumbai, April 23 : The Reserve Bank of India (RBI) has imposed restrictions on American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1, 2021.
These entities have been found non-compliant with the directions on storage of payment system data, said an RBI statement. It added that the order will not impact existing customers.
American Express Banking Corp and Diners Club International Ltd are payment system operators authorised to operate card networks in the country under the Payment and Settlement Systems Act, 2007 (PSS Act).
RBI Imposes Restrictions on American Express Banking Corp, Diners Club International
Moneylife Digital Team
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The Reserve Bank of India (RBI) on Friday imposed restrictions on American Express Banking Corporation and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from 1 May 2021 for failing to comply with RBI directions on storage of payment system data in India.
These entities have been found non-compliant with the directions on storage of payment system data. This order will not impact existing customers, RBI says in a release.
According to the central bank, as per its April 2018 circular on storage of payment system data, all payment system providers were asked to ensure that within a period of six months the entire data relating to payment systems operated by them is stored in a system only in India. This included full end-to-end transaction details, information collected, carried, and processed as part of the me