The private bank has been penalised for two major outages -- one in November 2018 and the other in December 2019

The response came in wake of the RBI order to impose temporary restrictions on HDFC Bank's new digital initiatives until the bank fixes its IT systems

HDFC Bank share was trading higher than 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages. HDFC Bank stock has fallen 4% in the last 3 days of straight losses

RBI asked HDFC Bank Ltd to temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers, in view of the bank's frequent outages in its digital payment services

RBI's order has come in the wake of rising outages in internet banking/mobile banking/payment utilities of the bank in the past two years

The Reserve Bank of India issued an order with respect to certain incidents of outages in internet banking/mobile banking/payment utilities of the bank over the past two years

India Stock Market Highlights Today: Maruti Suzuki, Hindalco, Tata Steel and GAIL India were the top gainers on Nifty rising up to 3.62%. SBI Life Insurance, Infosys, Bharti Airtel and Axis Bank were the top losers falling up to 1.79% on Nifty

From using technology to sell financial products to being tech companies that use AI, Big Data and analytics for offering customised services, the banking industry will see a major shift

HDFC Bank technical glitch: Angry customers have taken to social media to complain regarding inconvenience faced by them, especially since it's the start of the month and most people get their salaries around this time

HDFC Bank technical glitch: Angry customers have taken to social media to complain regarding inconvenience faced by them, especially since it's the start of the month and most people get their salaries around this time

UPI has been the biggest game changer in the digital payment space, but new channels could be rolled out in the new year.

All the banks and financial entities after tomorrow will stop operating accounts that are in any way linked to virtual currency trade. So, if you are still invested in Bitcoin or any other cryptocurrencies, it's time to think about the options in front of you.

Here is a detailed account of the different ways to make digital payments and, more important, how secure are each one of these methods.

It is the third entity after Airtel and Paytm payment bank, to get the central bank's approval and the second after Airtel Payment Bank to commence operations.

Axis Bank has emerged as best bank with best digital initiatives.

With disruptive innovations transforming the digital payments space, India is slowly moving towards a cashless economy.

One of the innovations, Mobile banking, has seen impressive growth. The proof is in the numbers. The bank clocked Rs 15,775 crore in mobile transactions for the full year 2014/15.

Payments banks have thrown their hats in the ring to take on an established banking industry on the back of innovations and first-mover advantage. Will the banks be able to counter with equal zeal?

Energy-to-telecoms conglomerate Reliance Industries, a joint venture of Aditya Birla Nuvo and Idea Cellular, and the country's postal office were also among successful applicants, the Reserve Bank of India said on Wednesday.