ICICI Bank and SBI Customers Face Digital Outage in Using Internet Banking Services | New Companies

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Customers of ICICI Bank and the country’s largest lender, State Bank of India (SBI), reported digital outages on their internet and mobile banking platforms on September 28.

The outage happened between 8 a.m. and 11 a.m., according to downdetector, a website that records digital outages. Internet banking problems were reported by 217 ICICI Bank customers.

Some State Bank of India (SBI) users have also encountered problems with online banking channels, according to the website. At the time of publication, the issues appeared to have been fixed.
Over the past two years, bank customers have been inconvenienced by frequent digital outages with banks’ service channels.

Such outages have been reported by the majority of banks. After the lender reported several outages over a two-year period, the Reserve Bank of India (RBI) imposed a restriction on new digital launches in December last year.

The ban was lifted in August this year.

The Reserve Bank of India has often reminded banks of the need to improve their technical skills to enable smooth digital transactions.

To reach a larger consumer base, banks have aggressively migrated to digital channels from older brick and store models, but the efficiency of the technology remains a concern.

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