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Detailed explanation-1: -Mastercard, said in a statement, welcomed the decision. “As we have in our engagement with the RBI, we reaffirm our commitment to support the digital needs of India, its people and its businesses.

Detailed explanation-2: -RBI Ban on Amex lifted has been lifted. The Reserve Bank of India (RBI) on Wednesday lifted business restrictions imposed on American Express Banking Corp after almost 16 months. Amex can now issues cards to new customers in India.

Detailed explanation-3: -The Reserve Bank of India on Thursday lifted business restrictions imposed on Mastercard, almost a year after imposing it. The regulator said MasterCard had achieved “satisfactory compliance.”

Detailed explanation-4: -The Reserve Bank of India (RBI) on Thursday said it had lifted business restrictions imposed on Mastercard Asia/Pacific Pte.

Detailed explanation-5: -India has lifted business restrictions on Mastercard, nearly a year after imposing the ban, once again allowing the cards giant to add new customers in the South Asian market after it demonstrated “satisfactory compliance” with the local data storage rules, the central bank said on Thursday.