Mastercard to stop issuing new debit, credit cards from today after RBI ban

Major payment system operator Mastercard will stop issuing credit and debit cards from today, following the Reserve Bank of India's recent order. Here is all you need to know.

US-based Mastercard will not be issuing any new debit and credit cards from July 22, following the Reserve Bank of India’s (RBI) ban. A few days ago, the central bank had barred the company for failing to comply with data storage rules. The RBI said the major payment system operator will not be able to onboard any new domestic customers.