The order by the RBI comes after an outage at the HDFC’s data centre, that impacted the operations of the bank last month.
On Thursday, private sector lender HDFC Bank said the Reserve Bank of India (RBI) has asked it to temporarily stop all launches of its upcoming digital business-generating activities and sourcing of new credit card customers after an outage at its data centre, that impacted the operations of the bank 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,” HDFC bank informed in a regulatory filing. The bank said the RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers”. The order, in addition, has directed the bank board to examine the lapses and fix accountability, HDFC Bank added.
Upon satisfactory compliance with the major critical observations made by the RBI, the above measures shall be lifted, the lender said. “Over the last two years, it has taken several measures to fortify its IT systems and will continue to work swiftly to close out the balance and engage with the regulator in this regard,” HDFC bank said.
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