RBI lifts restrictions on American Express

The banks were required to report compliance with RBI and submit an audit conducted by CERT-In empanelled within the specified timelines.

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The Reserve Bank of India has relaxe restrictions on American Express banking

allowed onboarding new domestic customers card network. The central bank had imposed curbs for being non-compliant

with the directions about Storage Of Payment System Data effective May 1, 2021

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but now they are lifting these limitations to improve services again

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Indian financial institutions have been allowed by the Reserve Bank of India to once again accept credit card payments

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This decision was made with effect from May 2021, and it's due in large part

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because they are now compliant enough when dealing locally here within our country’s borders

though there is always some sort requirement that needs met before an institution can operate accordingly

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uch as complying strictly adhering all local norms/standards set out upon them so forth

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