The Reserve Bank of India (RBI), which heavily affects the country’s largest private sector lender, HDFC Bank, has advised the bank to temporarily halt all its digital launches and new sources of credit. credit card customers.
In an exchange notice, HDFC Bank said, RBI recommended that it temporarily halt all launches of planned digital business generation activities under its program: Digital 2.0 and other proposed business generation IT applications, and recruiting new clients. of credit cards.
This comes after the bank’s customers faced a number of incidents of internet banking / mobile banking / bank payment services disruptions over the past 2 years, including recent disruptions to the internet banking and payment system from the bank on November 21, 2020 due to a power outage at the main data center.
The RBI has also advised the bank’s board to examine the failures and correct the liability.
The bank, for its part, said that over the past two years it has taken various measures to strengthen its IT systems and will continue to work quickly to close the balance and will continue to interact 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 hopes that the current supervisory actions will not have an impact on their existing credit cards, digital banking channels and operations. existing, ”he said. said.
The RBI will lift the current measures once it is satisfied with the compliance with the main critical observations it has made about the bank.
The lender’s shares were trading 0.27% lower at Rs 1,403.15 on the BSE.
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