RBI ban on American Express and Diners Club, will not be able to add new customers from May 1

Companies will not be able to issue their card to new customers

Companies will not be able to issue their card to new customers

According to the April 2018 circular, the approved audit report from the board was to be submitted by 31 December 2018. However, these two companies did not fulfill this rule, after which the RBI had to take strict steps.

New Delhi. American Express Banking Corp ( American Express Banking Corp) And Diners The club International Limited ( Diners Club International Ltd) On Reserve Bank Off India (RBI) has Friday To Restriction felt Granted RBI has Today The release Ongoing By doing said is, “In The companies has Payment The system Data Storage Of The guidelines Of Follow No did is Whose The reason this Decision to take Was lying.“RBI Of this Decision company Of Existing The customers On someone Impact No Will put both but 1 May 2021 From She Any To Domestic Customers To ours The card Ongoing No do.

American Express Banking Corp And Diners The club India To Payment And settlement Systems Act, 2007 (PSS Act) Of Under India In Payment The system Operate To do Of Right is. RBI Of Today Of The verdict Of According to, 1 May From someone Both The companies new The customers To ours The card Ongoing No Tax Will be able to

The timeline In RBI To Failed Report

RBI has Payment The system Data Of Storage On April 2018 In Only One Circular Ongoing did Was this Circular Of According to, All Payment The system Providers To ours Data Only India In Only Store do Will happen. Its with Only The companies To The system Approved Audit Report Too One decide The timeline In RBI To Give was. RBI has Payment Service Provider The companies To 6 Month Of Within i.e 15 October 2018 By The rules To Follow To do Of time gave Was April 2018 Circular Of According to, Board From Approved Audit Report 31 December 2018 By deposit do Was although these Both The companies has this Rule whole No did Whose after RBI To Strict Steps To lift Was lying.

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Banks To some The conditions Of with 50% Dividend payment To do Of Given Permission

Here on friday Indian Reserve Bank (RBI) has Commercial Banks (Commercial Banks) To Finance The year 2020-21 Of for some The conditions And Limit Of with Dividend Of payment To do Of Permission Give Given is. RBI has 22 April To said That Commercial Bank 31 March, 2021 To Finish Financial The year Of for The profits From Equity Shares On East-COVID Of 50 Percent By payment Tax Can Huh. Reserve Bank Of Revised Circular Of accordingly Commercial Bank KovidEast Of Level Of Comparison In 50 Percent Dividend Of payment Tax Can Huh. Cooperative Banks Of The cases In Dividend On All Type Of Curb Remove lamps went Huh.

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