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Mastercard barred by RBI from adding new clients in India for non-compliance with local data storage norms

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Mastercard Barred By RBI From Adding New Clients In India From July 22

The Reserve Bank of India (RBI) on Wednesday imposed restrictions on Mastercard from onboarding new domestic debit, credit or prepaid card customers on its network from July 22, 2021 onwards. 

The action has been against the payment system operator for violating the central bank’s norms on storage of payment systems data.

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