An outside professional IT firm has been entrusted with the responsibility of auditing the entire IT infrastructure of HDFC Bank.
Mumbai: In the last month of last year, the Reserve Bank of India (RBI) had banned HDFC Bank from launching new digital services and issuing new credit cards. After this, the RBI has now taken another big decision. An outside professional IT firm has been entrusted with the responsibility of auditing the entire IT infrastructure of HDFC Bank. The decision was taken by the RBI under Section 30 (1) B of the Banking Regulation Act, 1949. (hdfc bank news rbi appoints it firm for audit of hdfc bank)
The Reserve Bank had asked HDFC Bank to stop all digital business ventures under Digital 2.0. Not only that, the issuance of new credit cards was also banned. It has been informed that the RBI will remove all the restrictions only if the bank complies with all the relevant rules.
What’s the matter?
The Reserve Bank had last month banned HDFC Bank from launching new digital banking services and issuing new credit cards to customers. In the last two years, the bank had decided to take all banking services seriously. The order was issued by the Reserve Bank on December 2, 2020, according to data sent to the stock exchange by HDFC Bank.
Why did the RBI take this decision?
In fact, HDFC Bank had to deal with a number of technical hurdles for its customers. As a result, the RBI has taken this step. The order was issued by the RBI on December 2. So in order to lift all these restrictions, it is important for the bank to strictly follow the rules.
Over the last few days, HDFC Bank’s net banking and payment system has been facing major difficulties. Consumers had also repeatedly complained about it. According to a report released last month, HDFC Bank’s primary data center is experiencing a power failure.
What will happen to customers now?
The decision will shed light on the flaws in HDFC Bank’s IT, experts said. This will enable the bank to provide better service to the customers. (hdfc bank news rbi appoints it firm for audit of hdfc bank)
