HDFC Bank Said- Working With RBI To Start The Stopped Services

HDFC Bank said – working with RBI to start the stopped services, there was a flaw in the bank’s app recently.

The country’s largest private bank HDFC Bank has said that it is in constant touch with the Reserve Bank of India (RBI) to resume restricted services.

However, the bank did not specify when it would be resolved. In fact, RBI had said that HDFC Bank will not be able to issue a new credit card until the internet and mobile banking system of HDFC Bank is fixed.

HDFC Bank said in a statement that it will create new technology in the form of the ‘Digital Factory’ and ‘Enterprise Factory’ initiative to address network-related issues.

The bank, however, admitted that it will continue with the old banking system and is working to reduce the time taken to restore the service in case of a glitch.

Significantly, in December 2020, the RBI had ordered HDFC Bank to stop new digital banking initiatives and issuance of credit cards due to glitches in the internet and mobile banking system.

Even after this action, these lapses continued and on Tuesday, the bank’s mobile application had stopped working for 90 minutes.

Sugar production increased by 13 percent till June 15, 58 lakh tonnes of export has been contracted so far.

The country’s sugar production has increased by 13 percent to 306.65 lakh tonnes in the current marketing year till June 15.

According to the Indian Sugar Mills Association (ISMA), this increase in sugar production is due to higher sugarcane production.

ISMA said that from October 1 last year to June 15 this year, sugar production has increased by 35.54 lakh tonnes as compared to the same period last year. Last year, 271.11 lakh tonnes of sugar were produced in this period.

The marketing year of sugar starts from October and lasts till September of the following year. The current Chinese marketing year will end on September 30, 2021.

According to ISMA, at present only five sugar mills are operational across the country. Sugar production in Uttar Pradesh has declined to 110.61 lakh tonnes during the period under review.

The state had produced 126.30 lakh tonnes of sugar during the same period last year. However, Maharashtra and Karnataka have shown good growth in sugar production during the same period.