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RBI To Come Up With Framework To Prevent Netbanking Outages Like HDFC Bank

RBI To Come Up With Framework To Prevent Netbanking Outages Like HDFC Bank

RBI to investigate HDFC technical glitch and come up with a framework

The two-day outage happened on December 2, and was resolved on December 3

Due to technical glitch, HDFC Bank’s customers could not access net banking and mobile banking app

Following the two-day outage that affected thousands of HDFC Bank customers, the Reserve Bank of India (RBI), on Thursday, said that it will come up with a new framework to stop such incidents in the future.

According to a Financial Express report, the deputy governor MK Jain said that the RBI is aware of the problem. He further said that RBI checked and ensured that it was restored completely. “Our team has gone to really identify the reasons and find out what we can give them as directions,” Jain said.

Earlier this week, HDFC Bank’s customers could not access net banking and mobile banking app due to some technical glitch. The customers took to social media platforms to express their frustration. While some said that they could not access their salary, others said that they couldn’t pay their credit card bills, autopay bills among others.
RBI To Come Up With Framework For Preventing HDFC Bank-Type Outages In Future
In a Twitter post, HDFC apologised for causing problems to thousands of its customers.

RBI To Come Up With Framework For Preventing HDFC Bank-Type Outages In Future

Currently, HDFC Bank has 45 Mn customers and the majority of them use net banking and mobile banking services. During the two-day outage, the page showed the message that it is processing heavy load and asked the customer to try again after some time.

HDFC Bank Outage Streak

Last year, the bank’s mobile app also faced a similar problem. HDFC Bank had launched a new version of its mobile banking application in December 2018. The customers struggled to log in, forcing them to go back to the previous version of the app as there was a technical glitch in the new update.

Some users even speculated that the bank was trying to solve a cyberattack. In 2011, the HDFC website was reportedly hacked. The bank had taken nearly 22 days to respond to queries on what went wrong. However, according to zSecure’s security report, a Hidden SQL Injection vulnerability, which could give hackers access to the bank’s database, was detected by the team.

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