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RBI appoints IT firm for audit of HDFC Bank’s IT infra, shares surge to new high – Mint

Reserve Bank of India (RBI) has ordered an audit of the entire IT infrastructure of HDFC Bank through an external professional IT firm, the private lender said in a regulatory filing on Tuesday.

“..kindly note that RBI has 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 said in a statement to stock exchanges.

In December, the RBI had issued an order to HDFC Bank with regard to certain incidents of outages in the Internet banking, mobile banking and payment utilities of the bank over the past two years.

This included 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 Bank shall accordingly extend its cooperation to the external professional IT firm so appointed by RBI for conducting the special IT audit as above,” it said.

HDFC Bank’s shares today hit a new high when they surged over 6% to 1565.

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