Halt digital launches, new credit card sourcing: RBI to HDFC Bank

The RBI has asked private lender HDFC Bank to temporarily stop all launches of its digital business generating activities under ‘Digital 2.0’ programme and sourcing of new credit card customers.

In a stock exchange filing on December 2, HDFC Bank said that the Reserve Bank of India (RBI) issued an order to it in the wake of certain incidents of outages in the internet banking, mobile banking and payment utilities of the bank over the past two years.

The RBI advised the bank to temporarily stop all launches of the digital business generating activities planned under its programme Digital 2.0 (to be launched) and other proposed business generating IT applications and sourcing of new credit card customers.