India Penalizes Amex, Diners For Flouting Data-Storage Rules
- The firms cannot add more local customers from May 1
- They are first to be punished under India’s 2018 data rules
Photographer: Andrew Harrer/Bloomberg
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The Reserve Bank of India restricted American Express Banking Corp. and Diners Club International Ltd. from adding new local customers, citing non-compliance with data-storage rules.
The order will take effect May 1 and won’t impact existing customers, the RBI said in a statement Friday.