RBI Reports Minor Disruptions From Microsoft Outage Affecting Only 10 Banks And NBFCs

In the wake of the Microsoft outage, the Reserve Bank of India said that it has made an assessment of the impact of this outage on its Regulated Entities, which shows that only 10 banks and NBFCs had minor disruptions which have either been resolved or are being resolved.

In a press release issued on Friday, the RBI said that critical systems of most banks are not in cloud and further, only a few banks are using the CrowdStrike tool.

It further said overall, the Indian financial sector in the Reserve Bank’s domain remains insulated from the global outage.

The Reserve Bank has issued an Advisory today to its Regulated Entities for taking necessary steps to remain alert and ensure operational resilience and continuity.