December 7, 2020 No Comments

RBI directs HDFC Bank to stop selling new credit cards

The Reserve Bank of India has asked a private sector lender, HDFC Bank, to discontinue the new sourcing of credit cards to customers on a temporary basis, along with its digital launch. The central bank has also asked the bank to stop launching digital business-generating activities that are employed under Digital 2.0 as well as other proposed business IT applications. The RBI order came after HDFC’s mobile banking, internet banking and payment utilities reported outages in the last 2 years. Complaints of the bank’s payment system and Internet banking were also included in the complaints dated November 21, 2020, due

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