HDFC Bank Ltd has been ordered by the Reserve Bank of India (RBI) to examine lapses and fix accountability with regards to a number of incidents over the last two years which saw the banks' internet banking, mobile banking, and payments channels go offline, according to a stock exchange filing by the bank on Thursday. In a December 2 order, the RBI has also advised the bank to temporarily stop all launches of its digital business activities, under the banks' Digital 2.0 initiative, which is yet to be launched, and other proposed business generating IT applications. The central bank has advised the bank to temporarily stop sourcing new credit card customers, the filing says. "The above measures shall be considered for lifting upon satisfactory compliance with the major critical observations as identified by the RBI. The Bank over the last two years has taken several measures to fortify its IT systems and will continue to work swiftly to close out the balance and would continue to engage with the regulator in this regard," HDFC Bank said in the filing. We have reached out to HDFC Bank for comments. We will update this article with their responses. Recently, over the weekend of November 21-22, HDFC Bank's digital platforms went offline due to the power outage at the bank’s data centre at the Dhirubhai Ambani Knowledge CITY. Though bank had managed to resolve the issue overnight, the regulator took notice and sought an explanation from the bank. In December last year, there…
