Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news

Breaking-Finance.Com - The Reserve Bank of India has barred HDFC Bank from adding new credit card accounts or launching fresh digital banking products until it fixes problems that caused a 12-hour outage last month.

Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news

Breaking-Finance.Com - The Reserve Bank of India has barred HDFC Bank from adding new credit card accounts or launching fresh digital banking products until it fixes problems that caused a 12-hour outage last month.

Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news
03 December 2020 - 13:00

Breaking-Finance.Com - The Reserve Bank of India has barred HDFC Bank from adding new credit card accounts or launching fresh digital banking products until it fixes problems that caused a 12-hour outage last month. In November, HDFC Bank’s digital payments business went dark for half a day following a power failure in its primary data center. Similar problems hit the lender in 2019 and 2018.The central bank has taken aggressive steps to tackle the issues, calling on the bank's board to examine the lapses and fix accountability.

. “We will work with experts and the regulator to fortify the identified areas for improvement.”With nearly 15 million credit cards HDFC Bank has the country’s highest market share of about 26%.Market observers believes it may take the bank up to three months to fix the cricital issues identified by the RBI.

Source = Breaking-Finance.Com

Financial breaking news

This news 33 hits received.

Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news


Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news


Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news


Finance Breaking news HDFC Bank feels RBI wrath over power outage last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news ByteDance launches mobile payments on China's version of TikTok last financial news
Finance Breaking news ByteDance launches mobile payments on...
Finance Breaking news LME plans to close iconic 'Ring' trading floor last financial news
Finance Breaking news LME plans to close iconic...