RBI allows HDFC Bank to issue new credit cards: Report

However, RBI's ban on the bank introducing new digital initiatives will continue, a source told Reuters

Reserve Bank of India has on Tuesday allowed private lender HDFC Bank to issue new credit cards, a source familiar with the matter told Reuters, months after it curbed some of the lender's operations due to outages in its digital payment services.

However, RBI's ban on the bank introducing new digital initiatives will continue, the source said.

A news channel reported that RBI asked the bank to submit a board-approved letter indicating continued compliance with its IT examination report and that RBI's partial lifting of restrictions is contingent on bank abiding by its letter of commitment on compliance.

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