RBI ask HDFC Bank to halt digital activities, sourcing new credit card customers; bank says no impact on customers
New Delhi: After the Reserve Bank of India (RBI) requested non-public sector lender HDFC Bank to briefly cease all launches of its upcoming digital business-generating actions and sourcing of latest bank card clients, the financial institution has stated that the central financial institution’s choice is not going to have any impression on current bank cards, digital banking channels.
RBI has requested HDFF Bank to cease the above providers after outage at its information centre which impacted operations final month. In addition, the order has directed the financial institution board to look at the lapses and fixes accountability.
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”.
HDFC Bank stated that it has been taking main steps to treatment the latest outages on its digital banking channels. The financial institution has additionally assured its clients that it expects the present supervisory actions could have no impression on its current bank cards, digital banking channels and current operations.
“The bank has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels and assures its customers that it expects the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations. The bank believes that these measures will not materially impact its overall business,” it added.
The lender stated the above measures shall be thought-about for lifting after passable compliance with the main essential observations as recognized by the RBI. HDFC Bank stated that it has taken a number of measures to fortify its IT programs over the past two years. The financial institution additionally added that it’ll proceed to work swiftly to shut out the stability and would proceed to interact with the regulator on this regard.
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