RBI allows HDFC Bank to issue credit cards after partically lifting ban after 8 months

The RBI has partially lifted a ban on HDFC Bank, allowing the private lender to issue new credit cards. Shares of HDFC Bank rose 3 per cent after the RBI's decision.

The Reserve Bank of India (RBI) has partially lifted restrictions imposed on HDFC Bank, allowing the private lender to resume issuing credit cards after it was banned from doing so in December 2020. However, RBI's ban on fresh digital launches remains intact. It may be noted that shares of HDFC Bank rose nearly 3 per cent in early trade on Wednesday after the private lender was allowed to issue new credit cards.