new Delhi. The Reserve Bank of India has lifted restrictions on business creation activities planned under the ‘Digital 2.0’ program of HDFC Bank. “We would like to inform you that the RBI vide its letter dated March 11, 2022 has lifted the restrictions on the business creation activities planned under the Digital 2.0 program of the bank,” the bank said in a regulatory filing on Saturday.
“The members of the Board of Directors have taken note of that RBI letter.”
According to the bank, it is fully committed to ensuring continued adherence to the highest standards of compliance with the recommendations of RBI.
“We have used this time to formulate short, medium and long term plans to meet the evolving digital needs of our customers and we will be rolling out these initiatives in the coming days.”
In August last year, the RBI had eased restrictions on the bank and allowed the lender to issue new credit cards.
However, restrictions on all new launches of digital business generating activities planned under ‘Digital 2.0’ were to be reviewed by RBI.
RBI in December 2020 directed HDFC Bank to suspend all launches of ‘digital business’ activities and sourcing of new credit card customers within two years on certain incidents of outages in the bank’s internet banking, mobile banking and payment utilities in the past. stop for
—AnyTV News
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