On March 25, ICICI Bank customers complained of a technical glitch in the bank’s internet banking platform and mobile app. ICICI Bank customers were unable to access these platforms and many took to social media platforms to raise the issue.
ICICI Direct customers also complained about problems in the online, mobile platform. ICICI Direct later today tweeted about the website being down and assured that the glitches would be rectified at the earliest.
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An ICICI Bank spokesperson did not immediately respond to questions on the digital outage. An ICICI Bank official, on the condition of anonymity, said, “The servers have been down for a long time. Right now both the website and the app are not opening.
This is not the first time that ICICI Bank customers are facing a technical glitch. In September 2021 too, there was downtime on the website for a few hours. Many customers had complained of errors in transacting through Internet Banking or accessing other banking facilities.
problem for Indian banks
In recent years, frequent technical glitches on the Internet and mobile banking platforms have created problems for Indian banks. In December, 2020, RBI had banned HDFC Bank following the continuous digital outage.
Recently the restrictions were completely lifted. On March 11, RBI cracked down on Paytm Payments Bank from accepting new customers, ordering a comprehensive IT systems audit.
RBI said the action on Paytm Payments Bank was based on certain material supervisory concerns observed in the bank. Experts said that the concern could be about data privacy, your KYC, data storage etc.
Changes in the auditing process
The bank will now have to appoint an IT audit firm to initiate the auditing process and submit a report to the central bank. Removal of restrictions will depend on the outcome of the audit.
Time and again, the Reserve Bank of India (RBI) has cautioned banks to invest more on their technology platforms to ensure smooth functioning.
Last year, RBI Governor Shaktikanta Das had said that banks should invest more in building robust IT platforms to bolster public confidence in digital banking.
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