HDFC bank revealed that the current supervisory action will not have a material impact on the bank’s operations. After frequent technical disruptions that plagued HDFC Bank’s online services, the Reserve Bank of India (RBI) ordered all new digital launches and the supply of new credit cards to be halted temporarily. …
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In a rare act of tough love, the banking regulator has detained India’s most valuable lender for repeated disruptions to its digital services. HDFC Bank is unable to accept new credit card customers and will have to stop its planned digital launches until the issue is resolved. Read also: Inside …
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HDFC Bank to stop digital activities The Reserve Bank of India (RBI) has banned HDFC Bank from adding new credit card customers or launching digital businesses after its digital payment services were hit by technical outages last month. In an order dated December 2, 2020, the central bank also took …
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