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RBI ceases HDFC bank’s digital launchings and sourcing new credit cards under Digital 2.0

HDFC bank was asked to cease all of its digital launchings and sourcing new credit cards by the Reserve Bank of India, for the time being. Other initiated business on developing IT applications are also being temporarily halted. The order was issued on December 02, 2020.

On the evening of November 21, HDFC’s digital services were disturbed due to a power failure in the primary data center, which stayed for over 12 hours. After this incident, the Central Bank sought an elucidation from HDFC on November 23. Subsequently, came the order from the RBI. The order also affirmed that all faults must be inspected by the bank’s board and fix the responsibility.

Over the past 2 years, there has been several outages in HDFC’s digital services, which was also considered in the RBI’s order.

In December 2019, a 2-day outage was faced by HDFC bank that disrupted its digital services. On December 23, customers faced various issues in some of the bank’s digital services.

Due to a technical glitch, some of our customers have been having trouble logging into our Net Banking and Mobile Banking App. Our experts are working on it on top priority, and we’re confident we’ll be able to restore services shortly. While we deeply regret the inconvenience caused, there’s no cause for undue concern, HDFC’s words.

HDFC Bank’s explanation

HDFC said, Over the last 2 years, HDFC Bank has taken several measures to fortify its IT systems, and will continue to work swiftly to close out the balance, and would continue to engage with the Regulator in this regard.

The bank reassured its customers that the current situation will have no impact on its existing services.

The Bank has always endeavored to provide seamless digital banking services to its customers and has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels, bank added.

The bank added, The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI.

HDFC bank stated that they’ve been working on the situation and is confident in fixing all errors shortly.

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