The Reserve Bank of India (RBI) has barred Mastercard from violating data storage rules.
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From July 22, New debit, credit, or prepaid cards of Mastercard could not be issued to domestic customers.
In this matter, the Indian Central Bank says- “Notwithstanding the lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data,”
Three months ago, the Central Bank barred American Express and Diners Club International due to similar violations of data storage rules.
