RBI appoints IT firm to carry special audit of HDFC Bank's IT infrastructure

The Reserve Bank of India ("RBI") had earlier issued an order to HDFC Bank Limited (the "Bank") with regard to certain incidents of outages in the internet banking / mobile banking / payment utilities of the Bank over the past 2 years, including the recent outages in the Bank's internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre.

The RBI has now appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the Bank under Section 30 (1-B) of the Banking Regulation Act, 1949 ("the Act"), at the cost of the Bank under Section 30 (1-C) of the Act.

The Bank shall accordingly extend its cooperation to the external professional IT firm so appointed by RBI for conducting the special IT audit as above.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1477.2 as compared to the previous close of Rs. 1390.8. The total number of shares traded during the day was 568212 in over 30876 trades.

The stock hit an intraday high of Rs. 1482 and intraday low of 1400. The net turnover during the day was Rs. 819488206.

Source : Equity Bulls

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