Study by Mastercard Economics Institute said business boomed most on 3 match days: India vs Pakistan, India vs England and final match between India and Australia.
Responding to the statement issued by the two companies, Russian state-owned banking company said the suspension will not affect use of cards issued by Russia's Sberbank within the country.
Access over data does not depend on local storage but on the ability of nations to access data through legal instruments and cooperation. But the ban may impact consumers and investor sentiments.
Foreign card payment network companies that fail to meet data localisation norms cannot register new customers or issue new cards in India. ThePrint explains.
Globally, e-commerce & payment firms are in the crosshairs of regulatory action. As governments insist on local storage, burden of compliance falls disproportionately on international firms.
The central bank made the decision after Mastercard failed to comply with data storage norms. RBI also noted the supervisory action will not impact existing customers.
The RBI had asked payment firms to ensure their data is stored exclusively on local servers, making it one of the few countries with the strictest data localisation rules.
CSE, one of India’s oldest bourses, is edging towards a voluntary exit. It could never recover from market manipulation scam that caused a payment crisis at exchange back in 2001.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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