 "RBI, Reserve Bank of India")
The Reserve Bank of India (RBI) on Tuesday lifted its restrictions on credit card issuer Diners Club International, allowing it to onboard fresh customers, in view of the satisfactory compliance of RBI norms on local data storage as stipulated by the central bank.
RBI had barred Diners Club from onboarding fresh customers from May 1, through an order on April 23, and said the restrictions would remain in place till the card issuer met RBI norms on local data storage.
On April 23, 2021, the central bank had barred Diners Club and American Express together from onboarding fresh customers. Subsequently,
