The RBI has ordered Mastercard to stop onboarding new customers on its network from July 22, 2021.
The action started after Mastercard failed to comply with the directives of RBI on storing the cards and customer-related data on the servers that are physically present in India. 
“Notwithstanding the considerable time given to the Mastercard, it has been found to be non-compliant with the directions on Storage of Payment System Data.” said the RBI order.
This isn’t going to impact the existing customers of the Mastercard. The has directed all the card-issuing banks and NBFCs to accept the directions.
According to the Reserve Bank of India circular issued in April 2018 “All system providers had been directed to ensure that within a period of six months, the entire data related to payment systems operated by them will have to be stored in a physical server present only in India.”
