RBI team to visit HDFC Bank to identify source of online banking problems

MUMBAI: A Reserve Bank of India (RBI) team is visiting HDFC Bank to identify the reasons behind the outage in online banking which inconvenienced thousands of the banks' customers for two days.
“We are cognizant of the problem. It happened on December 2, and it was due to technical glitches. The net banking was restored on Tuesday,” said MK Jain, deputy governor RBI during the monetary policy press conference.The RBI has been informed by the bank that the problems were due to a technical glitch.
He said that the central bank was tracking reports on customer complaints. “Yesterday (Wednesday) there were some media reports that again customers are not able to access the digital banking from that particular bank. Again, we checked it up and it has been tested fully. But our team has gone to identify the reasons,” said Jain.
HDFC Bank on Wednesday said that its normalcy has been restored to its net banking services and a 'glitch’ that affected online banking for nearly three days has been resolved. Responding to the customers, the bank said that the `technical glitch’ has been rectified. “Our net banking and mobile banking platforms have now stabilised," the bank said.
Some analysts speculated that the downtime was because of new security measures because of which transactions were not going through.