RBI Appoints An External Firm To Audit HDFC’s IT Infrastructure

RBI appoints an external firm to audit HDFC Bank’s IT infrastructure. The RBI has appoints an external firm to conduct a special audit of HDFC Bank’s IT infrastructure in view of bottlenecks in services.

This information was given by HDFC Bank on Tuesday. This decision has been taken by the RBI after the services sector has become the largest private sector bank in the country in the past two years.

Giving information to the stock market, HDFC Bank said that the central bank has appointed an external professional IT firm to conduct a special audit of the entire IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulatory Act, 1949.

The cost will be borne by the bank itself.

HDFC Bank last month submitted a detailed action plan to the RBI to address the recurring service interruption. In this action plan, HDFC Bank had said that it would improve its IT infrastructure in three months.

A senior bank official said that work is being carried out on the work plan submitted to the Reserve Bank. The bank said that it has taken this process in a positive manner, as it will help improve the standards.

The official said in a meeting of analysts that the action plan would take 10–12 weeks to be implemented and the further deadline would depend on RBI inspection and remove the regulatory ban if satisfied.

Significantly, in December, the RBI temporarily stopped HDFC Bank from temporarily launching new digital initiatives and issuing new credit cards.

HDFC Bank said in a regulatory filing, ‘RBI issued an order to HDFC Bank Limited on December 2, 2020.

It issued orders regarding various incidents of disruptions in the bank’s Internet banking, mobile banking, and payment services over the last two years, including the recent interruption in the bank’s Internet banking and payment system on November 21, 2020. had gone.’

Budget 2021 hits market; Sensex once again crosses 50,000, Nifty close to 14,700, HDFC Bank boom

The budget 2021 (Union Budget 2021) is being analyzed by everyone according to their own, but it has become clear that this budget has been very well received by the stock markets.

After the announcement of more investment on self-reliant India as well as infra and health, the stock markets continue to boom. This is the reason why Sensex once again touched the 50,000 mark level.

BSE Sensex was trending at a level of 50,004.06 with a bounce of 1,403.45 points i.e. 2.89 percent at 09:34 am. Similarly, NSE of NSE was also trending at a level of 14,692.80 with a huge jump of 411 points i.e. 2.88 percent.