Reserve Bank Has Relaxed last year’s Curbs On Sourcing New Credit Cards, Says HDFC Bank

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RBI had placed restrictions last year due to outages in the bank’s digital payment services

HDFC Bank, India’s largest private-sector lender, said on Wednesday that the central bank has relaxed restrictions placed on it last year on sourcing new credit cards due to outages in the bank’s digital payment services.

However, restrictions on new launches related to the company’s digital business will continue till further review by the Reserve Bank of India, HDFC Bank said in its regulatory filing.

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