reserve Bank of India ban lifted on Wednesday American Express Which prevented the American company from adding new customers to India. The regulator said American Express has achieved “satisfactory compliance.”

In view of the satisfactory compliance demonstrated by American Express Banking Corp. With the Reserve Bank of India’s (RBI) circular dated April 6, 2018 on storage of payment system data, the restrictions imposed by order dated April 23, 2021 on onboarding of new domestic customers are withdrawn with immediate effect.” reserve Bank of India said in a statement.

Last year on April 23, 2021, the regulator had banned American Express from on-boarding new domestic customers on its card network with effect from May 01, 2021. RBI circular On the storage of payment system data.