RBI Lifts Ban on American Express Onboarding New Customers in India
The move comes months after the RBI lifted restrictions on Mastercard Inc over issuing debit and credit cards to new domestic customers due to similar compliance issues on data storage.
The Reserve Bank of India on Wednesday lifted curbs imposed on American Express last year that had prevented it from taking on new customers in India, saying the US credit card giant had shown "satisfactory compliance" on data storage rules. The move comes months after the RBI lifted restrictions on Mastercard Inc over issuing debit and credit cards to new domestic customers due to similar compliance issues on data storage.
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Reserve Bank of India lifts business restrictions imposed on American Express Banking Corp, allows onboarding of new domestic customers onto the company's card network pic.twitter.com/HCK3WvA6xS
— ANI (@ANI) August 24, 2022
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