HDFC Bank Barred From Adding Credit Card Customers After Power Outage

The Reserve Bank of India (RBI) has barred HDFC Bank from adding new credit card customers or launching digital businesses after its digital payment services were hit by technical outages last month. In an order dated December 2, 2020, the central bank also took note of the most recent outage on November 21, which occurred due to a power failure in the primary data centre of the country's largest lender by market value. The RBI has asked HDFC Bank's board to examine the lapses and fix accountability, the private sector lender said in a regulator filing on Thursday.

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