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Customers from various banks unable to use net banking services; technical glitch suspected

While HDFC Bank took to Twitter to respond to a user's concern, Kotak Mahindra Bank informed a customer who faced the issue that the problem was due to a technical fault, and apologised for the same.

October 01, 2019 / 08:06 PM IST
 
 
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Customers of several banks took to Twitter on October 1,  of issues they were facing while trying to log into the net banking facility of their respective lenders.

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YES Bank, HDFC Bank, Kotak Mahindra Bank and IDFC First Bank were among the few whose customers reported the issue.

According to an Economic Times report, While HDFC Bank took to Twitter to respond to a user's concern, Kotak Mahindra Bank informed a customer who faced the issue that the problem was due to a technical fault, apologising for the same.

Banks have been making the headlines for various reasons. A fraud that was discovered in the PMC bank, and the RBI having placed Lakshmi Vilas Bank under prompt corrective action and worries over government spending having dented market sentiment. As a result, they faced  volatility in the markets amid rising fears over the asset quality.

Shares of YES Bank took a hit, plunging 30 percent intraday and touching an all-time low of Rs 29.05. Overall market capitalisation of the firm also fell below Rs 8,000 crore on BSE on October 1.

Also read | YES Bank at all-time low, market cap falls below Rs 8,000 cr

The Reserve Bank of India had earlier posted on its Twitter handle that rumours about certain banks that have been doing the rounds are no cause for concern, assuring customers that the country's banking system is safe and stable with no need for panic.

Amid rumours of possible debt distress for several other lenders, stocks of various banks cracked on October 1.

 
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