RBI allows banks to issue Mastercard cards to new customers again
Image Credit: business world
The Reserve Bank of India on Thursday announced that it would once again allow banks to issue cards from the Mastercard network to new customers, a big relief for the giant payments firm. No Mastercard cards have been issued in India since last July to new customers; the central bank that month penalized the firm for not fully complying with an unusual mandate to store cardholders’ financial data exclusively in India.