Guwahati: HDFC Bank on Saturday said that the Reserve Bank of India (RBI) has lifted all restrictions imposed on its business-generating activities.
“We would like to inform one and all that the Reserve Bank of India 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. The same has been notified to the Stock Exchanges on March 12, 2022,” HDFC bank said in a statement.
“We would like to extend our gratitude to the regulator for this action. We are fully committed to ensuring continued adherence to the highest standards of compliance with RBI recommendations,” it added.
In September 2021, the central bank had lifted restrictions on HDFC Bank on issuing new credit cards.
Prior to this, in December 2020, RBI had barred HDFC Bank from launching any new digital products or services and issuing new credit cards till it resolved recurring tech issues.
We also take this opportunity to convey our heartfelt thanks to our customers for the trust and faith they have reposed in us. We have utilised this time to draw up short, medium, and long-term plans to meet the evolving digital requirements of our customers and we will roll out these initiatives in the days to come, said the bank.
“We are happy that we will once again be able to offer our customers our full suite of best-in-class services and continue to serve them with dedication and humility,” it said.