HDFC Bank says working with RBI for restarting banned services

Mandeep Sethi 18 Jun 2021 248

In touch with RBI for restarting banned services: HDFC Bank..

HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult.

The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back.

 

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Tags: HDFC Bank, RBI,
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