The Reserve Bank of India (RBI) on August 17 lifted its technology ban on HDFC Bank partially effective today. The central bank has allowed HDFC Bank to source new credit cards as per a letter sent to the bank on August 17. 

Sources told ET Now that the private letter got a letter from RBI on the partial lifting of credit card issuance ban. The Bank
is formulating a strategy to restart credit card issuance shortly. Restrictions on new digital banking still remains, sources added.

To recall, In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.

As a result, HDFC Bank, in late June set up a ‘digital factory’ and an ‘enterprise factory’ to roll out new digital products and services in the future and augment its IT infrastructure.