INSUBCONTINENT EXCLUSIVE:
HDFC Bank urged customers to use the net banking alternative to transact in the interim.The mobile banking app of the largest private sector
lender HDFC Bank, which has been under the regulatory lens for network outages, was down for an hour on Tuesday due to unspecified issues
The city headquartered bank said the issues were faced for an hour late in the morning on Tuesday and the same was resolved in an hour
It urged customers to use the net banking alternative to transact in the interim
"We are experiencing some issues on the MobileBanking App
tweeted.Banerjee urged customers to use the net banking alternative to carry out transactions in the interim and regretted the inconvenience
An hour later, he tweeted that the issues around mobile banking app are resolved and customers can use both net banking, which is accessed
from browsers over laptops and desktop, and also the dedicated mobile banking app.It can be noted that after three instances of network
outages, the RBI had taken a strict set of measures against HDFC Bank in December 2020, which included prohibiting the largest credit card
player from selling new cards, and the Central Bank had also asked the lender to improve its systems before the curbs are lifted."In the
case of HDFC Bank, there were earlier episodes also
HDFC Bank has an overwhelming presence in the digital payment segment, in the internet banking segment
We have some concerns about certain deficiencies etc.
it is necessary that the HDFC Bank strengthens its IT systems before expanding further," Reserve Bank of India Governor Shaktikanta Das had
especially when we are ourselves giving so much emphasis on digital banking
banning new credit card issuances because of the shortcomings on the technology front are a "blot" on the reputation of the bank, its
recently appointed managing director and chief executive Sashidhar Jagdishan said it has taken the right lessons from the regulatory
interventions."The fundamental part where we could probably have done better is resiliency and how do you recover faster when an outage
happens," he had told analysts last month
