Latest News | HDFC Bank Shares Jump over 3 Pc; Mcap Rallies by Rs 25,358.85 Cr

New Delhi, Mar 14 (PTI) Shares of HDFC Bank gained over 3 per cent on Monday after the RBI lifted all restrictions on the company, permitting it to launch new digital initiatives.

The stock jumped 3.25 per cent to settle at Rs 1,442.40 on BSE. During the day, it gained 3.78 per cent to Rs 1,449.90.

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On NSE, it gained 3.25 per cent to close at Rs 1,442.25.

Its market valuation rallied Rs 25,358.85 crore to Rs 7,99,631.85 crore on BSE.

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The RBI has lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives, the private sector lender said on Saturday.

"We would like to inform one and all that the Reserve Bank of India (RBI) 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," HDFC Bank said in a statement.

Digital 2.0 programme of the bank is designed to provide its customers a frictionless financial experience.

In December 2020, the RBI had barred HDFC Bank from issuing new cards and launching new digital initiatives after repeated instances of technological outages at the lender, which is the market leader in credit cards segment.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)