The Reserve Bank of India asked HDFC Bank to halt fresh activities under its Digital 2.0 initiative after the bank suffered multiple outages in its internet banking, mobile banking and payment utility services over the past two years.
The Apex Bank has also asked HDFC to stop sourcing new card customers in an order dated December 2.
In its order, the RBI also states that the bank’s board must examine the lapses and fix accountability.
“The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI,” it added.
On November 21, customers complained of the payment stack being inoperative, which was attributed to an unexpected outage at one of its data centres by the bank.
There had also been a huge outage in December last year which had led to a social media storm. In that instance, millions of HDFC Bank’s customers were unable to access their mobile banking/net banking accounts for more than two whole days.
The RBI’s order will not materially impact the bank’s operations, HDFC Bank said in a note.
There will be no effect of the RBI order on existing operations including all existing credit card and digital banking, the bank added.
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