India Lifts Curbs as Mastercard Complies With Data Rules (2)

Mastercard Inc. can add new customers after the Reserve Bank of India removed restrictions on the firm, effective immediately, citing compliance with data-storage rules.

The decision announced Thursday, which comes almost a year after the curbs were imposed, highlights the authority’s focus on digital banking. Data generated by millions of Indians in the world’s biggest open consumer market would be a rich resource, and rules announced in 2018 order payment-systems providers to store all data generated within India on servers located in the country.

“We welcome and are grateful for today’s decision by the Reserve Bank of India (RBI), enabling ...