InvestorQ : What was the outcome of the RBI audit into IT systems of HDFC Bank?
Mary Joseph made post

What was the outcome of the RBI audit into IT systems of HDFC Bank?

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Arusha Ray answered.
5 months ago
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That is still confidential and now yet disclosed by the RBI. In fact, the RBI-appointed third party audit of HDFC Bank's IT systems has been completed and the same was confirmed by Mr. Jagadishan, the CEO of HDFC Bank. The final report has been submitted to RBI for taking a final decision.

It may be recollected that in Dec-20, RBI banned HDFC Bank from announcing new digital launches including new credit cards or the Digital 2.0 plan till further go ahead from the RBI. This was necessitated after a series of technical glitches reported by the bank leading to massive inconvenience for its massive base of customers. HDFC Bank has however confirmed the glitches had nothing to do with handling scale and would have happened anyways.

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