US trade rep says India’s Mastercard crackdown ‘draconian’:Report
Al Jazeera
US has been frustrated since India’s central bank banned new card issuance on back of breaking data-storage rules.
A senior US trade official has privately criticised India’s July decision to ban Mastercard Inc from issuing new cards, calling it a “draconian” move that caused “panic”, according to US government emails seen by Reuters.
The documents show frustration within the US government after India’s central bank banned new card issuance by American Express and Diners Club International in April, then took similar action against Mastercard in July.
The Reserve Bank of India has accused the companies of breaking local data-storage rules. The bans do not affect existing customers.
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