RBI lifts restrictions on Diners Club International
The Hindu
RBI had, by order dated April 23, 2021, imposed restrictions on Diners Club International Ltd.
The Reserve Bank of India (RBI) has lifted business restrictions imposed on Diners Club International Ltd and now the firm will be able to onboard new customers in India.
“In view of the satisfactory compliance demonstrated by Diners Club International Ltd. with the RBI circular dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on on-boarding of fresh domestic customers have been lifted with immediate effect,” the RBI said in a circular.
RBI had, by order dated April 23, 2021, imposed restrictions on Diners Club International Ltd. from on-boarding new domestic customers onto its card network from May 1, 2021 for non-compliance with the RBI circular dated April 6, 2018 on Storage of Payment System Data.
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