Mumbai/IBNS: The Reserve Bank of India has relaxed the restrictions placed on HDFC bank to issue new cards.
In December and February, the Reserve Bank of India had issued orders to HDFC Bank over internet banking /mobile banking / payment utilities of the bank in the past two years.
"As a further update to the above intimations, we wish to inform you that the RBI vide its letter dated August 17, 2021, has relaxed the restriction placed on sourcing of new credit cards," HDFC Bank said in a regulatory filing, following the central bank's notice on Tuesday.
The board of directors of the bank has taken note of the RBI letter, it said.
HDFC Bank said the restrictions will continue on all new launches of the digital business generating activities planned under Digital 2.0 till further review by RBI.
"We will continue to engage with RBI and ensure compliance on all parameters," the bank said.