Mastercard has been denied from having new clients in India from July 22, 2021, by the RBI. All three categories of debit, credit, and prepaid have been restricted. The restriction comes after Mastercard violated the central bank’s norms on the storage of payment systems data in India despite being given considerable time and enough opportunities. RBI said, the existing customers will not be affected and all banks will be informed about the restrictions.

Click here to read the full story