HDFC Bank stocks end higher after RBI lifts restrictions on Digital 2.0

14 Mar 2022 , 04:30 PM

Shares of HDFC Bank closed higher after the Reserve Bank of India (RBI) lifted the restrictions on sourcing of new credit cards.

The bank said in the stock exchange filing that, “we would like to inform one and all that the Reserve Bank of India has lifted the restriction on the business generating activities planned under the Bank’s Digital 2.0 programme, vide its letter dated March 11, 2022. The same has been notified to the Stock Exchanges on March 12, 2022.”

“We would like to extend our gratitude to the regulator for this action. We are fully committed to ensuring continued adherence to the highest standards of compliance with RBI recommendations,” HDFC Bank said.

Further, the bank added “we also take this opportunity to convey our heartfelt thanks to our customers for the trust and faith they have reposed in us. We have utilised this time to draw up short, medium, and long-term plans to meet the evolving digital requirements of our customers and we will roll out these initiatives in the days to come.

HDFC Bank Ltd ended at Rs1,442.40 up by Rs45.4 or 3.25% from its previous closing of Rs1,397 on the BSE. The scrip opened at Rs1,411 and touched a high and low of Rs1,449.90 and Rs1,411 respectively.