RBI removes restrictions on Mastercard

Restriction on Mastercard issuance removed with immediate effect

Find out why 



RBI had restricted Mastercard from issuing credit cards

The restriction took place in July 2021

Reason: Local data storage compliance issues

What has happened?

RBI has removed all restrictions

Mastercard can now continue issuing new credit cards in India

It can now onboard debit, credit, and prepaid card users


Mastercard is major player in the card market, with Visa and Rupay

Competition is expected to become fiercer with the comeback

Market in numbers

India Market share: 36%

Mastercard debit cards in India: 400 million 

Mastercard credit cards in India: 30 million+

The SBI SimplySAVE is a solid credit card for offline expenses

With Mastercard comeback, it is back. Here is our review!