RBI To Soon Release Norms For Digital Payment Security

RBI To Release Norms For Digital Payment Security

SUMMARY

The announcement comes a day after the RBI temporarily barred HDFC Bank from selling new credit cards or launching new digital banking initiatives

The digital banking app of SBI, YONO also faced service outages on Thursday, the second time in a week that the bank was struggling with the service

According to the data shared by NPCI, about 10 of the top 30 banks have recorded a failure rate of over 3% in September 2020

RBI Governor Shaktikanta Das on Friday said the central bank will be introducing digital payment security control directions for regulated entities.

The announcement comes a day after the RBI temporarily barred the largest private sector lender HDFC Bank from selling new credit cards or launching new digital banking initiatives, taking a serious view of service outages at the systemically important bank over the last two years.