Banking News

Banks told to explore dashboard with real-time info on services


New Delhi: The Reserve Bank of India (RBI) has asked banks to explore setting up a ‘service availability web page’ or SEWA dashboard that will help customers compare different banking facilities offered by lenders as well as provide near real-time data on the availability of digital payment channels and services.

This comes as the regulator wants to address the incidents of service outages in internet banking and other payment channels, and provide more transparent and real-time information to customers, said two people aware of the matter.

“This portal will also have information on the availability of facilitation channels such as internet banking applications, mobile banking and other payment and settlement systems such as RTGS, NEFT and UPI,” said one of the officials, requesting anonymity.

Another bank executive said the RBI wants customers to have real-time information on outages, which will give them the option to do transactions through other payment modes. “This will also push banks to address the issue more promptly through an incident response plan and build system capacity management,” he added.

Banks told to Explore Dashboard with Real-time Info on Services

Banks are now expected to give an update to the regulator on whether a common platform can be set up or if it will be bank-specific.”Sometimes bank outages are caused by the crashing of IT systems, which the lenders have outsourced to third-party vendors. This move will ensure that there will be more supervision of such entities,” the above-quoted bank executive said.Service outages have been plaguing all lenders globally. Earlier this year, Canadian bank Laurentian replaced its chief executive after an IT outage. The bank noted that the new management’s immediate priority would be to address the impact of a mainframe outage that occurred last month during a planned IT maintenance update.

In 2020, the RBI asked private lender HDFC Bank to temporarily stop all launches of its digital business-generating activities under the ‘Digital 2.0’ programme and the sourcing of new credit card customers. This came after the bank’s customers faced incidents of outages in internet banking, mobile banking and payment utilities. The restrictions were lifted in March 2022.


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