RBI Asks HDFC Bank To Stop Digital Launches, New Credit Cards

04 Décembre, 2020, 11:26 | Auteur: Auguste Feret
  • A HDFC ATM at SDA Market in New Delhi

"We have taken help of external expertise, understood what needs to be done further and have substantially implemented the inputs to strengthen our IT infrastructure and systems", Jagdishan said in a letter to customers.

The notification adds that the regulator's order asks the lender's board of directors to examine the lapses and "fix accountability".

The RBI asked HDFC Bank to temporarily halt sourcing new credit cards and stop the launch of its digital business-generating activities planned under Digital 2.0 and other proposed business generating IT applications. And sometimes, we have not been able to live up to your expectations.

The recent outage hit customers as the bank's ATMs, cards, net banking, and even its UPI channels were not functioning normally. "There is intense competition from industry and new players such as payments banks to keep introducing new products".

"We will work with the experts and the regulator to fortify the identified areas for improvement".

Gold Rises To Over One-week High On Sagging Dollar
Silver was steady at $24.07 per ounce, while platinum rose 0.1% to $1,030.50 and palladium gained 0.5% to $2,313.00. Langford is the executive director of corporate advisory and consultancy company AirGuide.

WBC sanctions Anthony Joshua, Tyson Fury fight
He said: "There's absolutely great hope from the world to see that undisputed fight". 'Tyson Fury is our champion, our pride. Joshua is due to defend his belts against Bulgaria's Kubrat Pulev on December 12 at the O2 Arena in London.

COVID-19: Mexico signs deal for 34.4 million Pfizer vaccines
In mid-November, he said about 70 million to 80 million people in the USA were likely to be vaccinated by the end of February. The coronavirus has killed more than 1.4 million people around the world since it first emerged in China, a year ago.

Just on November 21, customers complained of the payment stack being inoperative.

Rival State Bank of India had to face the ire of customers earlier this week because of transaction failures. The SBI had faced technical glitches in the previous month as well.

The bank claims the order will not impact existing credit cards, digital banking channels or existing operations.

The regulator issued an order with respect to "certain incidents of outages in internet banking/mobile banking/payment utilities" of the bank over the past two years. "Press releases issued by the bank from November 27 to December 5 clearly highlight the priorities of its PR department: it issued releases for the bank being selected for 'Best MSE Bank (Private Sector)', launch of a co-branded credit card, and partnering with a startup, but studiously avoided any mention of the failure of its digital platform", notes research analyst Hemindra Hazari.

"While the system loan growth has been at 5 per cent, HDFC Bank has grown its loan book at a level of 16-17 per cent, nearly three times and this comes on the back of a 10 per cent market share". Added to that, it has a market share of 35-40 per cent in payments. The company saw cards-in force growing 3.8 percent QoQ/16 percent YoY to 11 million buoyed by daily average new accounts acquisition retreating at 98 percent of pre-COVID levels.



Milan: Pioli negative for COVID
Jens Hauge and Brahim Diaz then scored a goal each in the second half to give Milan a 4-2 win that all but ensured their progression into the next round.

Pakistan Have Training Exemption Revoked Due To COVID-19 Positives
Just last week, Pakistan cricket legend Shoaib Akhtar hit out at threats to cancel his former team's tour. The last time there were no new cases detected at the border or in the community was on October 19.

IBM Warns Hackers Targeting COVID-19 Vaccine Supply Chain
He said "it seems reasonable to us" to recommend a maximum of six adults at such gatherings, not including children. The seven-day moving average of new daily cases now stands at 10,524, a more than ten-week low.

Pelosi, Schumer back $908B pandemic relief bill
Businesses, especially airlines, restaurants and health providers, are desperate for help as caseloads spiral and deaths spike. His top deputy, Sen. "I think there's still time, although it's short, to put a bill together", Thune said Wednesday.

Magasinage des fêtes : Québec resserre les mesures
La gestion de l'achalandage doit faciliter la distanciation physique entre les clients et les travailleurs. La ministre Guilbault admet que la majorité des commerces ont déjà adopté les mesures annoncées mercredi.

Alberta reports new daily high of 1854 COVID-19 cases, 14 deaths
Lacombe County now has 46 active cases, a decrease of one, while Lacombe has 43, an increase of four. Albert residents who currently have COVID-19, with 36 new cases added in the past 24 hours.

Ligue Europa : Suivez Lille - Sparta Prague en direct
On joue dimanche à 13 heures (contre Monaco), les objectifs sont importants aussi en championnat. Le match LOSC / sparta prague sera diffusé à 19h00 sur RMC Sport 1 et TELEFOOT .

Carry fiction warning for The Crown: British minister
He is expected to write to Netflix this week to express his view. Listen to the latest episode of The Crown podcast below.

Multiple RHOBH Stars Have COVID Amid Production Shutdown!
However, Kyle , Kathy , and Dorit "did not contract COVID on set, " not that there technically is a "set". The positive tests come just a week after production was shut down due to a crew member's positive test.

Emmanuel Macron sera interviewé jeudi en direct sur Brut — Violences policières
Le média en ligne, célèbre pour ses vidéos punchy et ses directs, reçoit le chef de l'Etat jeudi à 16 heures . L'émission comprendra deux temps.