Friday, 24 March, 2023

RBI Gov asks banks, NBFCs to strengthen IT system to avoid outages

<p>RBI Governor Shaktikanta Das has asked banks, NBFCs and financial institutions to invest more in IT systems and strengthen the processes. This has come after the RBI had imposed restrictions on HDFC Bank to not to onboard new credit card customers and add new digital products after it suffered data centre outages. HDFC had suffered an outage for three days in Dec 2019, as well. SBI&#39;s flagship banking app YONO had also suffered an outage yesterday.</p>