American express and diners club international, Financial services company

New Delhi, Sep 19 A senior US trade official privately criticised India's July decision to ban Mastercard Inc from issuing new cards, calling it a "draconian" move that caused "panic", a global news wire reported.The documents show frustration within the US government after India's central bank banned new card issuance by American Express and Diners Club International in April, then took similar action against Mastercard in July.The Reserve Bank of India accuses the companies of breaking local data-storage rules. The bans do not affect existing customers.The ban on Mastercard - a top payment network in India alongside Visa - triggered a flurry of emails between US officials in Washington and India as they discussed next steps with Mastercard, including approaching the RBI, the government emails show, the report said."We've started hearing from stakeholders about some pretty draconian measures that the RBI has taken over the past couple days," Brendan A. Lynch, the Deputy Assistant US Trade Representative for South and Central Asia, wrote on July 16, two days after the Mastercard announcement, the report said."It sounds like some others (Amex, Diners) may have been impacted by similar actions recently," wrote Lynch, asking his colleagues in India to get in touch with their central bank contacts "to see what's going on".Lynch, spokespeople for the Office of the US Trade Representative and the US Embassy in New Delhi did not respond to requests for comment. The US government has not publicly commented on the Mastercard ban.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

American Express And Diners Club InternationalFOLLOW

American express and diners club international, Latest News

Business :Manas Ranjan Majhi, Director of Majhi Group, honoured with 'The Indian Achievers Award 2022'

Manas Ranjan Majhi, Founder & Executive Director of Majhi Group, has been honoured as "Entrepreneur of the year, 2022" by the prestigious Indian Achievers' Forum, for his achievement and contribution in Nation Building. ...

International :American Express announces suspension of operations in Russia, Belarus

American Express on Sunday announced the suspension of its operations in Russia and Belarus over the ongoing military operation in Ukraine. ...

Business :#OwnTheNew with Tata CLiQ Luxury at The Luxe Life 2

Tata CLiQ Luxury, India's premier luxury lifestyle platform, announces 'The Luxe Life 2' which will be held from March 11-15, 2022. The Luxe Life 2 is a five-day virtual film and shopping festival that will decode the meaning of 'Luxury with Purpose' ...

International :US official privately criticised RBI ban on Mastercard

New Delhi, Sep 19 A senior US trade official privately criticised India's July decision to ban Mastercard Inc ... ...