Curbs on Diners Club go
Mumbai, November 9
The RBI on Tuesday lifted restrictions on Diners Club International with immediate effect and allowed it to onboard new domestic customers. The central bank had on April 23, 2021, imposed restrictions on Diners Club International Ltd from onboarding new domestic customers onto its card network from May 1, 2021, for non-compliance with the norms on Storage of Payment System Data.
In April 2018, the RBI had directed all system providers to ensure that within six months the entire data (full end-to-end transaction details/information collected/ carried/ processed as part of the message/payment instruction) relating to payment systems operated by them is stored in a system only in India.
They were also required to report compliance to the RBI and submit a Board-approved System Audit Report conducted by a CERT-In empanelled auditor within the timelines specified therein. — PTI
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