HDFC Credit Cards: The Reserve Bank of India ( RBI ) has ordered the private sector HDFC Bank to immediately stop all digital business activity under the "Digital 2.0" programme. Along with this , the release of new credit card has also been banned.
On December 2, the RBI ordered HDFC Bank to immediately stop it. Also, this order was given because there was a case of violation of internet banking, mobile banking and payment violations in the last two years from HDFC Bank.
Also, recently, on 21 November 2020, due to the power failure in the primary data center, the bank's Internet banking and payment system has also been found to be a violation. In view of all, RBI has taken this decision.
RBI has advised the bank to stop all digital business activity with immediate effect and also not to issue new credit cards to other business IT applications and customers.
On 23 December 2019, customers were also facing difficulties in submitting EMI based loans and Credit Card Bill.
In the stock exchange filing, HDFC Bank said that in the last two years, the bank has taken a lot of measures to repair the IT system and to avoid any kind of disturbances in it.
With this, further work will be done in this direction and all the disturbances will be removed. In connection with this, contact will also be made with the regulator.
The bank also said that it is the duty of the bank to provide a better and better digital banking service to the customers.
Recently, the bank is also paying attention to the violations on the digital banking channel and soon it will be removed and steps will also be taken in the right direction. Along with this, customers will also be told that this step will not cause any problems in the existing Credit Card customers, digital banking channels and already running operations.
The bank has said that the move will not affect the bank's entire business. However, HDFC Bank is primarily a market leader in the field of credit card business and until this problem is resolved, a new credit card cannot be issued. RBI has also confirmed this.
With this, the bank's digital expansion will also be halted for a few days and no expansion will be possible. This will definitely affect the bank's image.
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