Actions Against HDFC Bank, Mastercard Driven By Keenness To Ensure Compliance Of Norms: Das

A keenness to ensure compliance to regulatory guidelines has led the RBI to initiate strong actions against entities like HDFC Bank, Mastercard and American Express, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday. The RBI has banned HDFC Bank from selling new credit cards after instances of service outages, and asked Mastercard and American Express to not sell any new cards for data localisation non-compliance. ‘Whenever there are deviations or violations of the regulatory guidelines, as the regulator, it is our job, it is our responsibility to…

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