In July 2021, Mastercard Asia / Pacific Pte Ltd (Mastercard) have been barred from issuing new credit, debit and prepaid cards with effect from July 22 due to the failure of complaining about its data storage norms.
The central bank said in a comment, “The Reserve Bank of India (RBI) has today imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. (Mastercard) from onboarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.”
“The Reserve Bank of India (RBI) has today imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.”
