Mastercard in India is regulated by the Reserve Bank of India (RBI), which is the central banking institution in India. The RBI is responsible for overseeing and regulating all financial activities and institutions in the country, including credit card issuers like Mastercard. The RBI ensures that Mastercard and other credit card companies comply with all applicable laws and regulations, such as the Payment and Settlement Systems Act of 2007 and the Foreign Exchange Management Act of 1999. The RBI also sets guidelines and standards for security and risk management in the credit card industry to protect consumers and maintain the stability of the financial system.
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