HDFC Bank is working with RBI for restarting banned services

TIL Desk/Business/Mumbai/ 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.

 In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages. The outages, however, continued even after the action, last of which was witnessed on Tuesday when the mobile banking app stopped working for 90 minutes.