New Delhi

In a major blow to payment services major Mastercard Asia/Pacific Pte Ltd, the Reserve Bank of India (RBI) on Wednesday imposed restrictions on on-boarding of new domestic customers in the country on its card network. "The Reserve Bank of India (RBI) has today imposed restrictions on Mastercard Asia / Pacific Pte Ltd (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021," the central bank said in a statement.