RBI lifts restrictions on American Express; allows onboarding 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
They were also required to report compliance to RBI and submit a board-approved System Audit Report (SAR) conducted by a CERT-In empanelled auditor within the specified timelines. Source: Twitter/Reuters