#mastercard ban

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Visa Complains To US Government Over India's

Visa Complains To US Government Over India’s

Visa Inc. has complained to the US government over Indian government’s preference to RuPay Visa Inc has complained to the US government that India’s “informal and formal” promotion of domestic payments rival RuPay hurts the US giant in a key market, memos seen by Reuters show. In public Visa has downplayed concerns about the rise of RuPay, which has been supported by public lobbying from Prime…

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Why RBI restricted Mastercard to issue new domestic customers

Why RBI restricted Mastercard to issue new domestic customers

      The Reserve Bank of India (RBI) has imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.     Why RBI restricted Mastercard to issue new domestic customers?     RBI said, “notwithstanding lapse of considerable time and adequate opportunities being given, the entity…

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Top headlines: Govt may get 30% more from asset sale, Q1 GDP growth at 22%

Top headlines: Govt may get 30% more from asset sale, Q1 GDP growth at 22%

What explains China’s sizeable presence in India’s import basket A year after the government’s renewed push to become self-reliant and the clamour for banning Chinese goods in the country owing to the border dispute, inbound shipments from India’s largest trading partner continued to be on the rise. India’s merchandise imports from China more than doubled to $6.51 billion in April over the same…

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RBI’s action against Mastercard is justified

On Wednesday, RBI barred Mastercard from adding any new customers for not complying with data storage regulations. This is not the first time the central bank is penalising payment operators for such violations; in April this year, it had stopped American Express and Diners Club from signing on new users. Following the rules imposed on localisation of payments data, in April 2018, the regulator…

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Mastercard ban: These 7 lenders are going to be hit hard by RBI's decision

Mastercard ban: These 7 lenders are going to be hit hard by RBI’s decision

The Reserve Bank of India’s (RBI) restrictions on Mastercard from issuing new cards will hit six banks and one non-banking finance company the most, as these lenders issue a large proportion of credit cards with the payment system operator. All the credit cards issued by YES Bank and RBL Bank are in the Mastercard platform. Bajaj Finserv, has co-branded cards with RBL Bank and also issues cards…

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RBI bars Mastercard from adding new customers in India. Here's why

RBI bars Mastercard from adding new customers in India. Here’s why

Image Source : FILE PHOTO Mastercard won’t be able to add new customers in India from July 22, says RBI. The Reserve Bank of India (RBI) has imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021. Why RBI restricted Mastercard to issue new domestic customers? RBI said,…

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