RBI asks American Express/Diners Club to stop on-boarding new customers (Ban Lifted)

[Navjot Singh]

RBI bars American Express, Diners Club from onboarding new customers

The central bank said the card companies did not adhere to guidelines on local data storage

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The Reserve Bank of India (RBI) on Friday restricted card companies American Express and Diners Club International from onboarding new domestic customers starting May 1 as they did not adhere to guidelines on local data storage.
“These entities have been found non-compliant with the directions on storage of payment system data. This order will not impact existing customers,” the RBI said in an official statement.

 

[minuteman]

RBI lifts restrictions on Diners Club, allows onboarding of fresh customers

RBI had barred Diners Club from onboarding fresh customers from May 1 and said the restrictions would remain in place till the card issuer met RBI norms on local data storage

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