RBI Asks HDFC To Halt Digital Banking Activities Over Outage Issue
The Reserve Bank of India on December 2 ordered HDFC Bank to halt its all upcoming projects related to digital transactions and stop issuing new credit cards. The order cited recent outages in HDFC's internet banking services, including the latest outage of November 21, as reason. Besides, the order has also mandated HDFC to examine the shortcomings. However, the bank's existing operations will remain intact.