The Reserve Bank of India (RBI) said that it has conducted a thorough assessment to estimate the impact of this outage on its regulated entities in the wake of a widespread outage in Microsoft. The assessment revealed that around 10 banks and non-banking financial companies (NBFCs) experienced minor disruptions that have either been resolved or are currently being addressed, RBI said.
A police officer walks past the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India. (Reuters)
Critical systems of most banks are not hosted in the cloud and only a handful have adopted the CrowdStrike tool for cybersecurity, the central bank said. It also issued an advisory to its regulated entities, urging them to take proactive measures to maintain operational resilience and continuity.
The RBI said, “Overall, the Indian financial sector in the Reserve Bank’s domain remains insulated from the global outage.” Global IT systems were disrupted and various sectors were impacted worldwide including aviation.
The widespread Microsoft outage disrupted operations across diverse sectors, including aviation, media, and financial markets globally. In India, Akasa, IndiGo, Air India, and SpiceJet encountered operational challenges amid the outage. In the US, carriers including Frontier Airlines, Allegiant and SunCountry reported disruptions affecting their services.
{{/usCountry}}
{{#usCountry}}
The widespread Microsoft outage disrupted operations across diverse sectors, including aviation, media, and financial markets globally. In India, Akasa, IndiGo, Air India, and SpiceJet encountered operational challenges amid the outage. In the US, carriers including Frontier Airlines, Allegiant and SunCountry reported disruptions affecting their services.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Home/Business/RBI on global Microsoft outage: Indian banks insulated, only minor disruptions
{{^htLoading}}
Advertisement
{{/htLoading}}
SHARE THIS ARTICLE ON
{{#usCountry}}{{/usCountry}}
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
