RBI orders HDFC Bank to halt its digital launches

The Reserve Bank of India (RBI) has issued an order to HDFC Bank with regard to sure incidents of outages within the web banking, cell banking and fee utilities of the lender over the previous 2 years, the non-public sector financial institution knowledgeable to the inventory exchanges. The RBI additionally famous the latest outages within the HDFC Bank’s web banking and fee system on November 21, 2020, owing to an influence failure within the major knowledge centre.

| SBI Clerk Mains & RBI Assistant Mains Exams

The RBI vide Order has suggested the Bank to briefly cease:

i) All launches of the Digital Business producing actions deliberate below its program ‐ Digital 2.0 (to be launched) and different proposed enterprise producing IT functions.
(ii) Sourcing of latest bank card clients.
(iii) In addition to this, the order additionally states that HDFC Bank’s board ought to study the lapses and repair accountability.

Important takeaways for all aggressive exams:

  • Headquarters of HDFC Bank: Mumbai, Maharashtra.
  • MD and CEO of HDFC Bank: Sashidhar Jagdishan(Succeeds Aditya Puri).
  • The tagline of HDFC Bank: We perceive your world.

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