The Reserve Bank of India lifts the business restrictions imposed on Mastercard Asia / Pacific Pte. Ltd. that it had imposed last year for failing to comply with Storage of Payment System Data norms.
In view of the satisfactory compliance demonstrated by Mastercard Asia / Pacific Pte. Ltd. with the RBI on Storage of Payment System Data, the restrictions imposed, vide order dated July 14, 2021, on on-boarding of new domestic customers(debit, credit or prepaid) onto its card network for non-compliance with the RBI on Storage of Payment System Data. Have been lifted with immediate effect the RBI said in a statement.
