RBI Says To HDFC Bank To Stop Digital Activities Sourcing New Credit Card Customers

On Thursday, After the outage at the data center, the Central Bank Authority RBI (Reserve Bank of India) asked Private sector lender HDFC Bank to temporarily hold the upcoming release of their upcoming digital facilities and sourcing of new credit card customers which impacted the operations of regular activities. The issued order has directed HDFC to hold current operations regarding Credit cards So here is the full information about this news and all the statements of both Banks RBI and HDFC.

HDFC is a reputed private bank that deals in various financial activities like every bank does currently. Nowadays HDFC is popularly known for its Credit Card cashback and Credit Card feature which makes it different from other bank credit cards and it is the cause that the demand for HDFC cards and Bank accounts continuously rising with every day.

On this situation RBI issued a statement “RBI has issued an order dated December 2, 2020, to HDFC Bank Ltd with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank’s internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre,” HDFC Bank said in a regulatory filing.

In the reference of there statement HDFC said that RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers.”

After implementing this order, RBI will take some measures to resolve this issue and as we know it can impact the HDFC bank’s business but as per the knowledge, it will be sorted in upcoming days. If we get some other information we will inform you here first but for this, you should bookmark the website for the future.