RBI Lifts the Restrictions Imposed on Master Card

September 12, 2023 AT 7:04 pm0 Comments

Master Card Restrictions: In July last year, the Reserve Bank of India (RBI) banned the ‘Debit, Credit Card’ service of the ‘Master Card’ company for not maintaining the customer’s transaction details. It also imposed restrictions on the company for failing to comply with regulations related to the storage of payment data.

In this case, the Reserve Bank of India (RBI) has announced that it has removed the business restrictions imposed on the ‘Master Card company with immediate effect.

RBI About Master Card Restrictions

In a notification issued by the Reserve Bank, “The compliance of Mastercard Asia and Pacific Pte Limited (Mastercard Asia / Pacific Pte) institutions has been demonstrated satisfactorily. Therefore, restrictions imposed on the absorption of new domestic customers have been lifted with immediate effect,” RBI said.

Author

Henry Fox

I’m a creative thinker, writer, and social media professional who loves sharing tips and ideas to help small businesses grow. My mission is to empower business owners with the knowledge they need to succeed online. I’m passionate about the internet and social media and want to share what I know with others to help them navigate the waters of online business, marketing, and blogging.