RBI lifts curb on American Express, allows onboarding new customers ...Middle East

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source : Devdiscourse ( Middle East ) () 79
Reserve Bank of India (RBI) on Wednesday lifted restrictions on American Express Banking Corp. With the lifting of the ban, American Express will now be able to add new customers in India to its card network. "In view of the satisfactory compliance demonstrated by American Express Banking Corp with the Reserve Bank of India (RBI) circular dated April 6, 2018, on storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on onboarding of new domestic customers have been lifted with immediate effect," said the RBI statement.

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