The Reserve Bank of India (RBI) has appointed an external IT firm for conducting an audit of HDFC Bank, for carrying out a special audit of the bank's entire IT infrastructure, according to an exchange filing. Over the past two years, the bank has faced several issues with their digital banking services, most recently a power failure at their primary data centre in Mumbai. In December, the RBI imposed sanctions on HDFC Bank instructing the bank to examine the lapses, fix accountability and stop any further business in credit cards and digital banking products. Two years ago, when the bank was launching its new mobile banking app, there was an issue with its roll-out, which forced the bank to pull it back and restore an older version. In December 2019, there was a “technical glitch” that led to the banks’ customers unable to log-in to the internet banking platform and mobile banking app. Earlier last month, the bank's management said that they had laid out various action plans which would transition the bank to a more stable environment over the course of a year or more. The majority of the bank's network upgrade would take 10-12 weeks to implement while others are more long term, they said. In the filing, HDFC Bank said that it will extend its cooperation to the external professional IT firm appointed by RBI for conducting the special IT audit. As the country’s second largest bank, HDFC Bank’s network is expansive with over 56 million customers,…
- India’s central bank launches pilot of e-Rupee for retail segment: Here’s everything to know November 29, 2022
- Event Announcement: Reworking the Data Protection Bill, Delhi, 8th Dec #Ad November 29, 2022
- Telegram Discloses Names, Numbers, IP Addresses of Alleged Copyright Infringers to Delhi HC November 29, 2022
- Nashik residents question the linking of Aadhaar with Voter ID November 29, 2022
- What can we learn about crypto scams from WazirX’s latest transparency report? November 29, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...