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regular-article-logo Friday, 04 October 2024

HDFC Bank faces intermittent service outage in digital banking platform

The bank has been penalised by the Reserve Bank of India (RBI) for two major outages previously

Our Special Correspondent Mumbai Published 31.03.21, 01:27 AM
This is not for the first time that the customers of HDFC Bank have faced service outage.

This is not for the first time that the customers of HDFC Bank have faced service outage. Shutterstock

Customers of HDFC Bank again faced intermittent service outage in the lender’s digital banking platform.

“Some customers are facing intermittent issues accessing our netbanking/mobilebanking App. We are looking into it on priority for resolution. We apologise for the inconvenience and request you to try again after sometime. Thank you,” HDFC Bank said in a tweet.

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Later in the evening, the private sector bank said that the issue faced by some of the customers has been resolved.

“We apologise for the inconvenience caused and thank you for your patience,’’ the bank added.

This is not for the first time that the customers of HDFC Bank have faced service outage.The bank has been penalised by the Reserve Bank of India (RBI) for two major outages previously. In December 2020, the banking regulator temporarily barred HDFC Bank from launching new digital banking initiatives and issuing credit cards after taking a serious view of service outages at the lender over the last two years

RBI Governor Shaktikanta Das had said in December the regulator had some concerns about certain deficiencies and it was necessary that HDFC Bank strengthens its IT system before expanding further.

“We cannot have thousands and lakhs of customers who are using digital banking to be in any kind of difficulty for hours together... Public confidence in digital banking has to be maintained,” Das had said.

The bank has been classified as systematically important by the RBI.

HDFC Bank, the largest lender by assets in the private sector, has been classified as a systemically important entity by the RBI in the past. It is also the largest issuer of credit cards and has a significant share in the payment processing segment.

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