New Delhi, 24/8:The Reserve Bank on Wednesday lifted the restrictions on American Express Banking Corp and allowed onboarding of new domestic customers on its card network.
The central bank had imposed curbs on American Express Banking Corp for being non-compliant with the directions on Storage of Payment System Data effective May 1, 2021.
“In view of the satisfactory compliance demonstrated by American Express Banking Corp with the Reserve Bank of India (RBI) circular… on Storage of Payment System Data, the restrictions imposed… on onboarding of new domestic customers have been lifted with immediate effect,” the central bank said in a statement.
Comments are closed.