The Reserve Bank of India (RBI) has asked HDFC Bank to temporarily stop all launches of the 'Digital Business generating activities and sourcing of new credit card customers.

The Central bank has issued an order dated December 2, 2020, to HDFC Bank Ltd pertaining to certain incidents of outages in the internet banking/ mobile banking/ payment utilities of the bank over the past two years, including the recent outages in the bank's internet banking and payment system on November 21, 2020, due to a power failure in the primary data centre, HDFC Bank said in a regulatory filing.

In addition, the order has directed the bank board to examine the lapses and fixes accountability, HDFC Bank said. The lender said

Over the last two years, the Bank has taken several measures to build up its IT systems and will continue to work quickly to close out the balance and would continue to engage with the Regulator in this regard.  It added, the Bank has always endeavoured to provide seamless digital banking services to its customers.  The bank has been taking conscious, concrete steps to remedy the recent outages on its digital banking channels and assures its customers that it expects the current supervisory actions will have no impact on its existing credit cards, digital banking channels and existing operations.

RBI MPC meet: Repo rate unlikely to change on Friday

RBI may not cut rates on inflation concerns, Next MPC review

HDFC Bank Valuation beats Rs 8 Lakh Crore