Mumbai: The apex bank in the country, Reserve Bank of India (RBI) has lifted all restrictions on HDFC Bank. RBI has permitted the private sector bank to launch new digital initiatives.
‘We would like to inform one and all that the Reserve Bank of India (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’, HDFC Bank said in a statement.
HDFC Bank has launched its ‘Digital 2.0’ programme to provide products to its customers for frictionless financial experience. It will help customers to move from a single transaction to a complete financial solution journey such as loan disbursement, payments and investment.
In December 2020, the RBI had barred HDFC Bank from issuing new cards and launching new digital initiatives after repeated instances of technological outages at the lender, which is the market leader in the credit cards segment.