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What is Digital 2.0 initiative by HDFC Bank which was recently halted by RBI?

HDFC Bank, India’s leading private sector bank is coming up with a program under its new CEO Sashidhar Jagadhishan, aiming to provide seamless banking experience with its facilities. 

Digital 2.0 is essentially about re-imagining our digital platforms providing the customer with a frictionless financial experience. The objective is to move the customers from a single transaction to a complete financial solutions journey. It means that they provide various services such as loan disbursement, payments, investing, insurance, etc sitting at home.

HDFC Bank has partnered with online platform players such as Flipkart, Amazon and fintech players such as Paytm, PhonePe, Mobikwik to provide value-added benefits to its customers such as cashback offers and No Cost EMI.

They are developing new technologies like Robotic Process Automation (RPA), Machine Learning (ML), Artificial Intelligence (AI) and BlockChain to further boost their current financial service experiences and also increase the security of the transactions. 

As we all know, HDFC Bank has a great future ahead. Let’s look forward to the company’s growth and innovations in the financial and fintech space in the coming years.