Microsoft outage: RBI assessment shows 10 banks, NBFCs experienced 'minor' disruptions
Microsoft Services, the Reserve Bank of India (RBI) on Friday said that it has conducted a thorough assessment to estimate the impact of this outage on its regulated entities, particularly within the Indian financial sector.
The assessment revealed that around 10 banks and non-banking financial companies (NBFCs) experienced minor disruptions, which have either been resolved or are currently being addressed.
According to the central bank, critical systems of most banks are not hosted in the cloud, and only a handful have adopted the CrowdStrike tool for cybersecurity.
In response to the situation, the apex bank has issued an advisory today to its regulated entities, urging them to take proactive measures to maintain operational resilience and continuity.
Also Read: RBI asks banks and payment cos to submit status update on Microsoft outage
«Overall, the Indian financial sector in the Reserve Bank’s domain remains insulated from the global outage,» the RBI said in a note.
The mishap has reverberated across global IT systems, causing disruptions in various sectors worldwide including aviation.
Impact across sectors
The widespread Microsoft outage has disrupted operations across diverse sectors, including aviation, media, and financial markets globally.
Also Read: Bank services across the world take a hit
In the aviation sector, major airlines such as India’s Akasa, IndiGo, Air India, and SpiceJet encountered operational challenges due to the outage. Similarly, US-based low-cost carriers including Frontier
