Mumbai: HDFC Bank has complied with 85 per cent of RBI's asks on technology, and the ball is now in the regulator's court on when to lift the ban on issuing new credit cards, its managing director and chief executive Sashidhar Jagdishan said on Saturday. "We have given a milestone to the regulator in terms of what are the things we are doing on technology, complying with their advisories and directives. HDFC Bank was asked to pay a fine of ₹10 crore earlier this year by the RBI for deficiencies in the auto loans vertical where GSP units were bundled with loan sales. Jagdishan also added that all the oversights are taken very seriously at the bank and assured that such instances will go down over time. In the medium term, HDFC Bank may look at “discovering" HDB Financial Services' price and then look at a listing once the company has rebounded, he said.

Source: Mint July 17, 2021 14:15 UTC