HDFC Bank, India’s largest private bank, has announced in an email to its customers that its online services will not be available for 18 hours.
With most of the banking services being done online today, private banks with more customers like HDFC Bank have announced an 18-hour service shutdown, much to the shock of the bank’s customers.
Why are services disabled? Which services are disabled ..? At what time are services disabled? Let’s see ..
HDFC Banking Service
HDFC Bank said in a statement to its customers: “Credit services at the HDFC Net Banking Service will be closed from 9 pm on August 21 to 3 pm on August 22 due to maintenance work.”
Saturday and Sunday
HDFC Bank has chosen this period as the number of borrowers is low on weekends. In addition, all the services on the HDFC Net Banking service site, except for credit related services, will run without any hindrance.
Basic services are not affected
In particular, all basic services such as digital payment, card payment, ATM money transfer will operate without any restrictions. So there are no large-scale vulnerabilities for HDFC customers. Nor is there a compulsion to complete tasks in advance.
Private Banking Division
It is the largest private bank in India with 5500 bank branches and 1.16 lakh employees across the country. It is no exaggeration to say that HDFC Bank and HDFC have a high rating among investors in the stock market as well.
Permission of the Reserve Bank
The Reserve Bank of India (RBI) has banned the addition of new customers to HDFC Bank’s credit card services due to some administrative issues. The Reserve Bank of India has now given permission to remove this barrier and add new customers.
Shashidhar Jagadeesan, CEO, HDFC Bank
In an email to HDFC Bank CEO Shashithar Jagadeesan, the bank said it had approved the addition of new customers to the credit card segment. Once again, HDFC has come to assert its dominance. Not only this, HDFC is also planning to capture Citibank’s retail business.
Citibank Business
Citibank has decided to completely withdraw from its retail banking service in India. Citibank’s credit card, mortgage, wealth management, deposit and various other businesses are valued at $ 2 billion.
HDFC Bank Leading
Four Indian banks and one foreign bank are competing to capture this business. HDFC Bank is one of the top three banks in the competition and Citibank is one step ahead in capturing the retail service segment as the Reserve Bank has lifted the ban on credit cards.
Citibank customers
Citibank has 35 bank branches in India, 2.8 million retail customers, 1.2 million bank accounts and 2.6 million credit card customers. Citibank credit card customers generally spend more than other bank customers.