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RBI bars American Express, Diners Club from onboarding new customers

The central bank said the card companies did not adhere to guidelines on local data storage

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RBI, in April 2018, had told all payment system providers to store their entire data in a system only in India | Photo: Shutterstock

Anup RoyNeha Alawadhi Mumbai/New Delhi
The Reserve Bank of India (RBI) on Friday asked card companies American Express and Diners Club International not to get new domestic customers onboard from May 1 as they did not adhere to the guidelines on local data storage.  
 
“These entities have been found non-compliant with the directions on storage of payment system data. This order will not impact existing customers,” the RBI said in a notification on its website.  
 
Reacting to the development, American Express in a statement said: "We have been in regular dialogue with the Reserve Bank of India about data localisation requirements and have