Private sector lender HDFC Bank said on Thursday that the Reserve Bank of India (RBI) has asked it to temporarily halt all launches of its upcoming digital business generation activities and recruiting new credit card customers. following an outage in its data center that affected operations last month.
“The RBI issued an order dated December 2, 2020 to HDFC Bank Ltd regarding certain incidents of interruptions in the bank’s internet banking / mobile banking / payment services during the past two years, including recent interruptions in Bank’s Internet, banking and payment system on November 21, 2020, due to a power outage in the primary data center, ”HDFC Bank said in a regulatory filing.
HDFC Bank said that RBI’s order “has advised the bank to temporarily halt all planned digital business-generating activities launches under its Digital 2.0 program and other proposed business-generating IT applications and recruiting new credit card customers. credit”.
In addition, the order has directed the bank’s board to examine the judgments and correct the liability, HDFC Bank added.
The lender said lifting of the above measures will be considered following satisfactory compliance with the main critical observations identified by the RBI.
HDFC Bank said that “in the last two years, it has taken various steps to strengthen its IT systems and will continue to work quickly to close the balance and will continue to engage with the regulator in this regard.
“The bank has been taking conscious and concrete steps to remedy the recent disruptions in its digital banking channels and assures its clients that it expects that the current supervisory actions will not have any impact on their credit cards, digital banking channels and operations. existing. The bank believes that these measures will not have a material impact on its overall business, ”he added.
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