HDFC Bank asks customers to ignore communication on crypto transactions

This communication from the bank comes after the RBI on Monday clarified that banks can no longer cite its circular on cryptocurrencies for not offering such products to customers

Country’s largest private sector lender HDFC Bank has asked its customers to ignore its email communication that cautioned them against dealing in virtual currencies. 

In an email communication the bank said, “We wish to update you that in the light of the advisory issued by RBI…dated May 31, 2021, on ‘Customer Due Diligence for transactions in Virtual Currencies’, we request you to ignore our earlier communication dated May 28, 2021.” “Inconvenience caused is regretted.”

This communication from the bank comes after the Reserve Bank of India (RBI) on Monday clarified that banks can no longer cite its circular on cryptocurrencies