RBI bars Mastercard from onboarding new customers in India
RBI bars Mastercard from onboarding new customers in India SECTIONS Last Updated: Jul 15, 2021, 06:23 AM IST Share Synopsis The central bank’s supervisory action on Mastercard is citing its non-compliance with data localisation mandate wherein all foreign payment operators storing card and customer related data must do so in servers physically present in India. Agencies RBI had issued its data storage circular in April of 2018 and given all system providers a time frame of six months to enforce these norms. The central bank said that Mastercard’s existing customers won’t be impacted bec...
Source: indiatimes.com