Microsoft services outage: RBI advises banks and NBFCs to stay vigilant

Reserve Bank of India’s assessment of the impact of a large-scale outage in Microsoft Services showed that about 10 banks and NBFCs had minor disruptions, which have either been resolved or are being resolved.

The central bank issued an Advisory on Friday to its Regulated Entities to take necessary steps to remain alert and ensure operational resilience and continuity.

Following a large-scale outage in Microsoft Services, which impacted IT systems globally and led to disruptions in various sectors, RBI assessed the impact of this outage on its Regulated Entities (REs).

• Read: Windows OS dominance amplifies impact of Microsoft outage

RBI noted that most banks’ critical systems are not in the cloud, and only a few banks are using the CrowdStrike tool.

RBI said in a statement that the Indian financial sector remains insulated from the global outage overall.