Hdfc Bank Internet Banking Suffers From Failure Again


The country’s largest private lender, HDFC Bank, suffered another outage on Tuesday as some customers reported problems accessing its Net Banking and Mobile Banking services.

The bank said it is currently working to resolve the issue.

“Some customers are having intermittent problems accessing our Net Banking / Mobile Banking app. We are reviewing it as a priority for resolution. We apologize for the inconvenience and ask you to try again after some time. Thank you,” the bank said in a tweet.

Several of the bank’s customers have turned to social media to express their anguish.

HDFC Bank has been shut down by the regulator for a series of technical issues it has experienced over the past two years. It is currently facing temporary restrictions from the Reserve Bank of India (RBI) on its new digital banking launches and business-generating IT applications proposals until it resolves the issues. failure.

In addition, in what will pinch HDFC Bank even more, the regulator has temporarily prohibited it from integrating new credit card customers. The bank is the largest credit card issuer in the country with at least 1.45 crore of credit cards in circulation as of June 30.

In accordance with an order dated December 2, 2020, “RBI advised the Bank to temporarily stop i) all launches of activities generating digital activities planned under its program – Digital 2.0 (to be launched) and other computer applications generating activities proposed and (ii) sourcing of new credit card customers.

RBI ordered the bank’s board of directors to review the deficiencies and correct the liability, after which RBI would consider lifting those restrictions.

In January of this year, HDFC Bank submitted an action plan to RBI to resolve the outage issue within three months.

Srinivasan Vaidyanathan, the bank’s chief financial officer, told analysts at the post-earnings conference in January that the bank was also making long-term technology upgrades that would take 12 to 18 months.

“We want to mention that progress is underway on the action plan provided to the regulator. We took it positively because it will raise the standard, the regulator will institute a process to (review) the action plan and progress, “he said during the convocation.

RBI Governor Shaktikanta previously said the regulator had concerns about some shortcomings and that HDFC Bank needed to strengthen its IT systems before it could expand further.

“… we can’t have thousands and thousands of customers who use digital banking to struggle for hours together and especially when we care so much about digital banking ourselves. Public trust in digital banking must be maintained, ”Das said in December of last year.

First publication: STI


About Author

Leave A Reply