Indian Financial And Payments Systems Remain Largely Unaffected From Microsoft Services Outage

The Indian financial and payments systems remained largely unaffected by the Microsoft services outage. In a statement, the Reserve Bank of India said it has made an assessment of the impact of the 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.

Overall, it said, the Indian financial sector in the Reserve Bank’s domain remains insulated from the global outage. The RBI said that critical systems of



most banks are not in cloud and further, only a few banks are using the CrowdStrike tool.

National Payments Corporation of India (NPCI) chief executive Dilip Asbe said the country’s payments architecture, including the widely popular Unified Payments Interface, has been unaffected. The RBI said it has issued an advisory to all of its Regulated Entities for taking necessary steps to remain alert and ensure operational resilience and continuity