RBI lifted the restriction on the new digital business generating activities imposed on HDFC Bank

Published On: Saturday, March 12, 2022 | By: Team KnowMyStock

The RBI has lifted the restrictions imposed on HDFC Bank regarding its business-generating activities planned under the Digital 2.0 programme, HDFC said today(12 March 2022). “We would like to inform one and all that the RBI has lifted the restriction on the business generating activities planned under the bank’s Digital 2.0 programme, vide its letter dated March 11, 2022," the bank said in a stock exchange filing. In December 2020, RBI had directed HDFC Bank to temporarily halt all digital launches as well as new sourcing of credit card customers, following various outages the bank faced due to technical glitches in the past two years. The RBI action came after the bank's customers faced a number of incidents of outages in internet banking, mobile banking, and payment utilities of the bank over the past two years.

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