No more offshore MC to Indian residents?

ozziemaa · #1 02-14-2011, 09:11 PM

"MasterCard recently conveyed to its issuers instructions from local Indian banking authorities that non-India based card programs will not be allowed to issue physical or virtual cards to residents of India. Based on this instruction ******* was required to cease issuing cards to India.

MasterCard takes its compliance obligations very seriously and as a regulated institution in India, must follow the requirements of the Reserve Bank of India. We apologize for the inconvenience."

Now what???

slogold · #2 02-15-2011, 10:13 AM

i do not think this is the case for all programs, i am sure if you open personal account for example that you can get debit card for this account at many banks

ozziemaa · #3 02-17-2011, 03:41 AM

thats not what really matters. even if it is closed for all programs so be it. but doesn't this mean that the govt. is trying to crack down on offshore cards? what are the chances that they have issued sub-poena to MC to provide them all the details of such card holders? what about that!!