18 August,2021 09:58 AM IST | New Delhi | PTI
Reserve Bank of India
HDFC Bank on Wednesday said RBI has relaxed the restrictions placed on the bank to issue new cards. Reserve Bank of India had issued orders in December and February to HDFC Bank on certain incidents of outages in the internet banking /mobile banking / payment utilities of the bank over the past two years.
"As a further update to the above intimations, we wish to inform you that the RBI vide its letter dated August 17, 2021, has relaxed the restriction placed on sourcing of new credit cards," it said in a regulatory filing.
Also read: Sensex surges over 250 pts to scale 56K for first time; HDFC Bank up 2 per cent
The board of directors of the bank has taken note of the said RBI letter, it said. HDFC Bank said the restrictions on all new launches of the digital business generating activities planned under Digital 2.0 will continue till further review by RBI.
ALSO READ
Congress nominates Ravindra Chavan from Nanded Lok Sabha seat
Mumbai RPF cop heroically saves passenger’s life at LTT
Mumbai: Western Railway conducts drill to test emergency response coordination
Mumbai airport conducts security drills days after threats to multiple flights
Vistara Frankfurt-Mumbai flight subject to bomb threat; 19th incident in 3 days
"We will continue to engage with RBI and ensure compliance on all parameters," the bank said. Stock of HDFC Bank traded 2.06 per cent up at Rs 1,546.00 apiece on BSE.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever