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SBI outage: RBI chief says the central bank is reviewing situation – Mint

Amid the social media outrage over SBI’s Yono (You Only Need One) app which is facing frequent outages, Reserve Bank of India Governor Shaktikanta Das today said that the central bank is reviewing the recent SBI outage. “There is a need for banks and financial institutions to invest more in their IT system,” RBI chief said.

“We are contstantly engaged with management of financal institutions where there is need to improve their IT systems,” the RBI chief further added.

Amid the social media outrage over the app’s malfunction, SBI had assured customers that they’re fixing the app. “We request our esteemed customers to bear with us as we work towards restoring YONO SBI app to provide for an uninterrupted banking experience,” SBI had said in a tweet.

Many customers of SBI took to social media to complain about technical glitches leading to transaction failures.

“@TheOfficialSBI server down since morning… Worse services I want to close my sbi account. Please help, what is procedure of closing sbi account online??,” a customer tweeted.

Another user said, “…what is the point of being in a digital world if I have to wait at a retail shop and be embarrassed because SBI servers are not working…”

Last month also, SBI customers faced technical issues. “We regret the inconvenience caused. There are intermittent connectivity issues with our Servers. Kindly bear with us as our team is on the job to resolve the issue at the earliest. In the meantime, we suggest you to use our other digital channels.”

The central bank has cracked down on HDFC Bank for frequent outages in its internet and mobile banking. RBI has asked the private lender to temporarily stop all launches of its digital business generating activities under “Digital 2.0″ programme. This includes sourcing of new credit card customers.

 

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