RBI asks HDFC Bank to stop digital activities, sourcing new credit card customers

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In a major setback to the private sector bank HDFC (एचडीएफसी बैंक), the Reserve Bank of India (RBI) has banned the digital services of all banks. RBI issued an order on 02 December, banning internet banking, mobile banking and payment utility services. Apart from this, the central bank has also stopped issuing new credit cards to HDFC customers. In the last 2 years, customers of HDFC Bank have faced many problems in digital service, due to which the central bank has taken this step.

Bank gave information to stock exchange
In the information given to the stock exchange, the bank said that on December 2, the RBI has ordered a ban on digital services.

In the order, the RBI has said that recently there have been a lot of interruptions in the bank’s Internet banking, mobile banking, payment utilities. This has been going on for the last two years. In the recent incident, on 21 November, the bank’s internet banking and payment system was found to be disturbed. The fault was caused by a power failure in the primary data center. This is the third major setback for the bank in the last two years.

The launch of a temporarily stopped digital business
In its order, the RBI has advised the bank to stop the launch of all activities related to digital business temporarily. HDFC Bank is preparing to launch its Digital 2.0. In which a lot of digital channels will be launched. In such a situation, this order of RBI is a big setback for the bank. Along with this, all other business generating IT applications have also been ordered to stop. There is also a ban on sourcing new credit card customers.

RBI Order for investigation
The RBI has said in the order that in addition to this, the board of the bank should investigate such lapses and also decide its accountability. RBI has said that the above steps or rules will be removed only when it gets satisfaction from the bank. That means all things will be right.

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