Private sector lender HDFC Bank on Thursday stated the Reserve Bank of India (RBI) has asked it to temporarily cease all launches of its upcoming digital business enterprise-producing activities and sourcing of new credit card consumers right after outage at its information centre which impacted operations final 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 stated in a regulatory filing.
HDFC Bank stated 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”.
In addition, the order has directed the bank board to examine the lapses and fixes accountability, HDFC Bank added.
The lender stated the above measures shall be deemed for lifting upon satisfactory compliance with the significant important observations as identified by the RBI.
HDFC Bank stated “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 would continue to engage with the regulator in this regard.
“The bank has been taking conscious, concrete actions to remedy the current outages on its digital banking channels and assures its consumers that it expects the present supervisory actions will have no influence on its current credit cards, digital banking channels and current operations. The bank believes that these measures will not materially influence its all round business enterprise,” it added.