Mastercard has submitted a new audit report to India's central bank, it told Reuters, as it seeks to overturn a ban on card issuance linked to concerns over the U.S. giant's handling of data processed abroad.
The Reserve Bank of India (RBI) on July 14 sent panic-waves through Indian banking partners by announcing a ban, effective from July 22, to prevent the U.
S. giant from issuing new cards. It cited non-compliance with 2018 rules that required it to store payments data only in India.
The RBI imposed the ban after deciding.