RBI lifts curbs on Diners Club International

Tribune News Service

New Delhi, November 12

The Reserve Bank of India (RBI) has lifted the curbs on Diners Club International after it satisfactorily complied with the Central Bank’s directive to store its Payment System Data on an Indian server.

The RBI had barred Diners Club from enrolling new Indian customers onto its card network from May 1 for non-compliance with the RBI circular on ‘Storage of Payment System Data’.

The RBI had brought in the new norms after it observed that not all system providers were storing the payments data in India. This inhibited the RBI from unfettered supervisory access to data stored with these system providers. It, therefore, asked them to ensure that the entire data relating to their payment systems are stored in a system only in India. For the foreign leg of the transaction, if any, the data can also be stored in the foreign country, if required.