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.
In the centuries to come, economist Bibek Debroy's Mahabharata will attain the importance we attach to the texts of Shankara, Ramanuja, and Madhvacharya.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
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