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HomeBusinessRBI Lifts Restrictions Imposed On Diners Club International

RBI Lifts Restrictions Imposed On Diners Club International

The Reserve Bank of India (RBI) on November 9 lifted the restrictions imposed on Diners Club International Limited.

The restrictions were imposed on April 23 over non-compliance with RBI’s norm on Storage of Payment System Data.

Under the restrictions, RBI had barred the card network from onboarding new domestic customers onto its card network from May 1, 2021.

Similarly, in previous instances, the RBI had barred American Express and Mastercard from onboarding new customers onto their network over non-compliance with data localisation norms.

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