Imagindia calls on RBI to delay ban on Amex, Diners Club
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IANS
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Reserve Bank of India (RBI). (File Photo: IANS). Image Source: IANS News
New Delhi, April 28 : Independent think-tank Imagindia Institute has called upon the Reserve Bank to delay the ban on Amex, Diners Club.
Recently, the RBI ruled to impose a ban on American Express Co and Diners Club International from issuing new cards in India.
The order will take effect on May 1.
Accordingly, both the companies have been found non-compliant with India's data-storage rules, announced in 2018, which order payment systems providers to store all data generated by them on servers in India, and will be restricted from adding new customers to their card networks from May 1.