Aditya Puri, Ex-CEO, HDFC Bank, in an exclusive conversation with Business Today's Anand Adhikari, shared how HDFC Bank's digital transformation started and what security concerns were addressed while making those changes. Puri added that the response to their phone banking feature was phenomenal and that it would take 2-3 years for banks to move to cloud-based transactions completely. He also gives an insight into his role-change from operations to marketing at the bank. Also Read: Promoters inject Rs 2,021 crore in IndusInd Bank via conversion of warrants

RBI's recent order comes after it advised HDFC Bank to temporarily stop all new launches of digital business generating activities planned under its programme Digital 2.0 on December 3, 2020

Plan submitted to RBI includes both short and long-term solutions, which may take up to three months to implement. HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches

Aditya Puri said that he was looking forward to working with Kumar and building world-class institutions to produce high-quality affordable biotherapeutics and CDMO services

How India's best CEOs are steering their companies through crisis and chaos

The 70-year-old Aditya Puri, who spent over two-and-a-half decades as CEO & MD, banked on risk mitigation, technology and retail/rural outreach to create India's second-largest bank from scratch

Allowing big industrial houses in the banking sector has its own set of challenges

CEO Vasant Kamath has estimated that there are about 2 million users and as much as Rs 50,000 crore has been transacted in smallcases

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An internal working group of RBI has recommended that large corporates should be allowed to set up banks. Aditya Puri says if credit, scale and regulations can be ensured, then allowing them is almost a necessity

Under Digital 2.0, there are also partnerships planned with technology companies and fintech players to offer seamless services

Puri will help Carlyle identify evolving market landscape and new opportunities and will also mentor Carlyle's investment professionals; in Asia, major Carlyle investments include stakes in SBI Cards and Piramal Pharma and Mcdonald's China

The HDFC bank's stock saw an over 300-fold jump during Aditya Puri's 25-year stint, emerging as India's largest private sector lender by market capitalisation

Aditya Puri bid adieu to HDFC Bank after 25 years of building it to one of the country's biggest lenders

The 'Always Mute' in WhatsApp was first rolled out for beta version 2.20.201.10 of the messaging app. But now, the feature is available for everyone

HDFC Asset Management Company stock fell 2.62% to intra day low of Rs 2296.45 against previous close of Rs 2,358 on BSE

Puri, who was at the helm of the bank for 26 good years, is often credited for transforming HDFC (Bank) into one of the biggest private sector lenders in India

Despite a commendable career in banking, Aditya Puri gives all the credit of the success that HDFC Bank achieved to his team. He hopes that one day HDFC will become the largest private bank in the world

The lawsuit is based on allegations that HDFC Bank employees made false and misleading statements to the market that caused a temporary decline in the bank's ADR stock price in July 2020

Class action lawsuits have been filed on behalf of purchasers of the securities of HDFC Bank Limited between July 31, 2019 and July 10, 2020 and seeks to recover damages for HDFC investors under the federal securities laws