After HDFC now AMEX and Diners. No new customers onboard from May 1 2021: RBI
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RBI takes supervisory action on Card Networks American Express Banking Corp and Diners Club International
https://www.moneycontrol.com/news/business/rbi-...
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RBI actually wants all card issuers to store their data on Indian servers so that they can be hacked into easily rather than leave it encrypted on well fortified & secure American servers !?
aise log Moderator kaise bann jate ha ? 
bina koi logic k kuch bhi mtlb.
RBI halted below to issue new cards.
1. HDFC Cards (The most offer oriented cards)
2. American Express (Online CC Expense Giant)
3. Diners Club Iternational (Diners specialist)
Citi Bank is exiting retail business & Citi Cards.
Note: RBI SAYS ORDER WILL NOT IMPACT EXISTING CUSTOMERS.
Sub mar jayenge ek din bus SBI bachega
https://www.business-standard.com/article/finan...
The central bank said the card companies did not adhere to guidelines on local data storage
Now for next 1 week Amex should give cards to everyone who applies on their portal with zero rejection rate. that way it can mitigate the ban period loss
Ye sahi hai kya?
My sister was planning to apply for Amex card last week, but didn’t.
Abhi apply karne se milne ka zyada chance hai? Ya sabka application reject hoga?
Don’t trust any institutions and ask question, and that will make them stronger. Blind fate will not help anyone.
Indian government want all data within there control. And as per IT act they can seize any IT equipment if necessary. While foreign companies want data to be within there parent country region, so that they can tackle any legal problem easily.
The whole problem is data. As in new world everything is data only and who controls it.
Leaving aside political discussions:
Big corporate companies are becoming way too influential and powerful in controlling everything and are King Makers in some countries.
We cannot live at the mercy of other country’s jurisdiction. It’s high time to make them abide by the law of land.
Data security is weak in India compared to US, and that’s undeniable fact.
But making companies to store Indian User data only at Indian servers without making a duplicate copy, is the first baby step which should be taken at any point of time. So why not now? Remember the saying Rome isn’t built in a night. Even USA did not become super power overnight. They faced issues and learnt from those.
Take example of development of China. China too has political issues and that’s another discussion. But they were able to tame western companies with stricter laws.
I read a news last month that Tesla is assuring China that their user data will never leave their country. Tesla already entered Indian market and might start business in coming few years. Tesla is recruiting left and right and but never made a comment about Indian user data (if they did and i missed then I take back my words). Because they knew Indian laws are weak and can easily circumvent them.
Very good words , but let people have knowledge of facts and let them have freedom to choose over , launch rupay credit card with some public bank like sbi with headline usp that it have secure data in india and india superpower
Those who want it will take it , afterall its the data and money of people not of government
This attitude of witchhunting ban this ban that when there are so many problem in india requiring imeidate attention
Maybe Amex wasn’t giving enough offer to the guys in RBI panel. 
RBI restricts American Express and Diners Cards from on-boarding new credit card customers https://www.moneycontrol.com/news/business/rbi-...
My wifeys hdfc diner club LTF club miles is lost. What to do will hdfc be able to reissue new card now since diners is halted by rbi?
Reissue/Replacement is not an issue . Ban is on new customer boarding. Call 18002666262
Nice move by RBI
