The share price of India’s largest private lender HDFC Bank is trading above 2.65% today. In December 2020, RBI imposed curbs on all the business-generated activities plans under the Digital 2.0 program of HDFC Bank.
Apart from this, RBI had also banned HDFC Bank from issuing new credit cards. Although RBI had removed the ban on credit cards some time back, but the restrictions on the rest of the digital initiatives were continuing.
The effect of all this was being seen on HDFC Bank’s business and share price, but on March 11, 2022, RBI lifted the restriction on all business activities under HDFC Bank’s Digital 2.0 program.
This development can positively impact the business of HDFC Bank. HDFC Group Head Parag Rao also said that the company has done significant work on its tech and backend.
This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.