RBI Restricts American Express, Diners Club From Enrolling New Customers From May 1

The Reserve Bank of India (RBI) has restricted American Express and Diners Club International Ltd. from adding new domestic customers from May 1 for not complying with data storage rules. The central bank says its order won't impact existing customers. The two companies have been found guilty of not complying with the rules on 'Storage of Payment System Data', according to a statement issued by the central bank.