American Express allowed to on-board new card customers in India as RBI lifts ban

American Express Banking Corp has been permitted to on-board new card customers in India as the RBI lifted the business restrictions. RBI had imposed the restrictions on American Express last year for non-compliance with the RBI circular dated April 6, 2018 on Storage of Payment System Data. The ban has now been lifted due to "satisfactory compliancy", the RBI said.