India Lifts Curb on Diners Club After Compliance on Data Storage
(Bloomberg) -- India’s banking regulator lifted curbs imposed on Diners Club International Ltd. in April after the payments firm complied with data-storage rules.
The ban on signing up new card customers in India was lifted as Diners showed “satisfactory compliance,” the Reserve Bank of India said in a statement Tuesday.
Diners Club was among three U.S. credit card issuers including American Express Banking Corp. and Mastercard Inc. that were barred by the RBI for failing to comply with the rules announced 2018, which ordered payment systems providers to store all data generated by them on servers in India.
The RBI didn’t provide any update on Mastercard or Amex.
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