HDFC Bank: RBI Lifted The Restriction Placed On Sourcing of New Credit Cards: Check Report

The Reserve Bank of India (RBI) has authorized HDFC Bank's approval to issue new credit cards, the bank announced on August 18. This will be excellent news for new customers who want to apply for a new HDFC Bank credit card. Following failures in the bank's online banking, mobile banking, and digital payment utilities during the previous two years, the RBI instructed HDFC Bank to keep all new digital banking or service installations and issue of new credit cards on pause until December 2020. According to the media release the bank has said that "We would like to inform all that the Reserve Bank of India (RBI) has lifted the restriction placed on sourcing of new credit cards. We thank the regulator for this. The board has taken note of the same and the bank is committed to full compliance of the regulatory directions."

The bank has further added that "We also convey our heartfelt gratitude to our customers for the trust and faith they reposed to us, particularly during the past few months."
"As stated earlier, all the preparations and strategies that we have put in place to 'come back with a bang' on credit cards will be rolled out in the coming time. We are happy that we will be able to serve our customers again with the same dedication and humility," the private lender added.

Regarding its Digital 2.0 programme, the bank has also claimed that "The restrictions on all new launches of the Digital Business generating activities planned under Digital 2.0 will continue till further review by the regulator. We will continue to engage with the regulator and ensure compliance on all parameters."

For enhanced benefits for credit and debit card customers, HDFC Bank via its Twitter handle has announced that "This Wednesday, claim the best offers for your sibling and WOW them. With HDFC Bank Debit & Credit Card on SmartBuy, make this Raksha Bandhan extra special. Offer valid on 18th August 2021."

According to the official website of the lender "SmartBuy Wow Wednesdays brings to you assured Savings on your favourite Brands for Raksha Bandhan. Starts-On: 2021-08-18."
Customers can avail offer and check offer details at https://offers.smartbuy.hdfcbank.com/offer_details/17694?utm_medium=social&utm_source=org_twitter_%20campaign&utm_campaign=rakshabandham_wow