HDFC Bank’s tech glitch under RBI lens

The RBI is probing the technical glitch that impacted HDFC Bank’s mobile and Internet banking platforms earlier this week causing inconvenience to its customers.

RBI advised to the bank to temporarily stop all launches of its digital business generating activities planned under Digital 2.0 and other proposed business generating IT applications, and halt sourcing of new credit card customers. It also stated that HDFC Bank’s board must examine the lapses and fix accountability.

"Our team has gone to really identify the reasons and find out what we can give them (HDFC Bank) as a direction," said MK Jain, deputy governor.

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