India lifts ban on American Express

India has lifted business restrictions on American Express, once again permitting the U.S. giant to onboard new customers in the South Asian market after the firm demonstrated “satisfactory compliance” with local data storage rules, the local central bank said Wednesday.
In a series of moves last year, the Reserve Bank of India indefinitely barred Mastercard, American Express and Diners Club from issuing new debit, credit or prepaid cards to customers over noncompliance with local data storage rules (PDF). The business restriction allowed the firms to continue to serve their existi

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