RBI stops HDFC Bank from Digital Launches

RBI stops HDFC Bank from Digital Launches

Reserve Bank of India (RBI) has advised HDFC Bank to stop all its digital business generating activities under ‘Digital 2.0” programme along with other proposed business generating IT application and sourcing of new credit cards customers.

Step has been taken by RBI keeping in view the recent outrages in the HDFC Bank’s internet banking and payment system on 21st November, 2020 due to power failure in the primary data centre.

Sashidhar Jagdishan, MD and CEO, HDFC Bank said “We will comply with the regulator’s requirements. We take this opportunity to assure our existing customers that there is no reason to worry.”

Source: HDFC Bank outage: RBI orders HDFC Bank to halt its digital launches and new credit cards

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