Mumbai: HDFC bank CEO Sashidhar Jagdishan said that reserve Bank of India ban has enabled Bank To re-imagine its IT systems and processes and “turbo-charge” the pace of its technology transformation. He reiterated the bank’s plan to be “back with a bang” in the cards sector and regain lost market share.
In a communication to all employees to inform about RBI’s decision, Jagadeesan said that the bank will now source new Credit CardThe ban on new digital business creation activities under the Digital 2.0 initiative will continue till the next review. “I am grateful to the regulator for ‘Rap on the Knuckles’. This rap has opened our eyes to a world of possibilities,” Jagadeesan said. “In times to come, we will be able to demonstrate the technology transformation that we have initiated,” Jagadeesan said.
In a communication to all employees to inform about RBI’s decision, Jagadeesan said that the bank will now source new Credit CardThe ban on new digital business creation activities under the Digital 2.0 initiative will continue till the next review. “I am grateful to the regulator for ‘Rap on the Knuckles’. This rap has opened our eyes to a world of possibilities,” Jagadeesan said. “In times to come, we will be able to demonstrate the technology transformation that we have initiated,” Jagadeesan said.
He reiterated the bank’s plans for a ‘digital factory’ and an ‘enterprise factory’ which would enable it to scale up operations safely. Jagadeesan said, “In today’s day and time, there may be technology issues, but we have started building an architecture that enables multiple transactions to complete the transaction for the customers while ensuring minimum inconvenience to our customers. As well as providing the channel our system will bounce back quickly.” .
Responding to criticism that “HDFC Bank has lost its mojo”, Jagadeesan urged employees to take inspiration from India’s Olympians.
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