The Reserve Bank of India (RBI) has asked HDFC Bank to temporarily stop sourcing new credit cards and also stop the launch of its digital business generating activities planned under Digital 2.0 and other proposed business generating IT applications. The restriction comes after facing a series of technical issues at the primary data center of the bank.
The current supervisory action will not materially impact the bank’s operations and has taken careful measures and steps to sort out the issue that happened with the data centre, HDFC Bank said.
The bank has 15,292 ATMs across 2,848 towns. The number of cards issued by the bank includes 14.92 million credit cards and 33.8 million debit cards. The bank has always attempted to provide seamless digital banking services to its customers.
The share price has fallen by 2% after the order from RBI.