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Banks can ill-afford any further slip-ups as it will lead to further unwanted disruptions
For the past few years, banks have without fail harped on the benefits of using their digital channels for carrying out seamless transactions.
But instances of system breakdowns in the past few months have become too frequent and the worrying part is that they belong to the leading banks.
With COVID-19 threat still not over and citizens embracing digital banking, banks can ill-afford any further slip-ups as it will lead to further unwanted disruptions.
Banks should make up for lack of technological upgradation and change their approach towards servicing customers.
With the central bank moving towards 24×7 payments cycle, the banks need to become more nimble in their technological plans and ensure customers do not face any inconveniences.
Internet banking modes and apps of leading banks have faced outages, leading to an uproar on social media and questioning the ambitious Digital India narratives.
The shift towards digital banking has taken a long time and the efforts made towards achieving will go in vain if the infrastructural loopholes are not plugged.
Most customers, especially those who have opened bank accounts in the past few years, may not even be aware of the location of their home branches and are dependent on the facilities powered by digital banking.
Thus, it becomes extremely important for the banks to keep them up and running with minimal disruptions.