RBI Asks HDFC Bank To Stop Digital Launches

December 03, 2020 15:53
RBI Asks HDFC Bank To Stop Digital Launches

RBI Asks HDFC Bank To Stop Digital Launches:- The Reserve Bank of India (RBI) asked the private sector bank HDFC Bank to stop the launches of all its upcoming business activities temporarily along with issuing of new credit cards for its customers after the outage at the data centre had an impact for the operations last month. "RBI has issued an order dated December 2, 2020, to HDFC Bank Ltd with regard to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank's internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre," told the official statement issued by the HDFC Bank.

All the planned digital launches of business activities are currently kept on hold under the program Digital 2.0. HDFC Bank has been asked to examine all the lapses and the accountability should be fixed before resuming the services that came to a halt. The measures would be lifted by the RBI after satisfactory compliance. HDFC Bank also said that several measures are taken to fortify the IT systems which will continue to work swiftly and more efficiently. HDFC Bank also informed that all the services for the existing cards and the digital banking would work swiftly and this move will not impact their business.

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Tagged Under :
Reserve Bank of India  HDFC Bank  RBI