The world is transforming to become digitally viable for any operation to facilitate day to day activities and the pandemic accelerated every mode of accessing the service provider end. Bank's digital evolution is quite slow for mobile applications, the process is monotonous to proceed for a fund or for registration. A mobile app is loaded with online information that accesses the server for almost 90% of the process, which demands the server to back it up all through the transaction.
RBI stepped in for scrutiny only on Private Banks. Recently ICICI bank has been blocked for credit card issuances and has limited online transactions. But this arouses professionals as the public bank SBI also falls in for so much of technical glitch and major oversights of the app which it is integrating all the digital services in a single platform and still overlooked.
Why can't RBI question SBI for this? Is it because SBI is a bank owned by Government and nods for every order the RBI imposes on them. The partisanship prevailed and no one questioned the organization directly.
RBI- Reserve Bank of India
SBI- State Bank of India
Good content
ReplyDelete