Case Brief
RBI has withdrawn the business restriction previously imposed on Mastercard Asia / Pacific Pte. Ltd. The earlier order of July 14, 2021 had barred the company from onboarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021 due to non-compliance with RBI's April 6, 2018 circular on Storage of Payment System Data. The current release says the company has demonstrated satisfactory compliance, and therefore the restriction stands lifted with immediate effect.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Payment entity
- Action Type
- Action lifted