Indian financial institutions and banks avoided a worldwide Windows glitch
By MYBRANDBOOK
Only ten banks and non-banking financial organisations (NBFCs) were impacted by the worldwide Microsoft Windows outage, according to the Reserve Bank of India (RBI). Because its systems were not connected with cloud-based services, the central bank claimed to have avoided the worldwide risk. As few banks were utilising the CrowdStrike tool, the inconvenience caused by the update was not as widely reported.
“Our assessment shows that only 10 banks and NBFCs had minor disruptions which have either been resolved or are being resolved. Critical systems of most banks are not in cloud and furthermore, only a few banks are using the CrowdStrike tool,” the RBI said in the statement.
The large-scale outage in Microsoft Services occurred on July 19, impacting IT systems globally and disrupting various sectors. The RBI conducted an assessment to check the glitch's impact on its regulated entities.
The new CrowdStrike update in Windows 10 operating systems caused the blue screen flashing issue. Windows users were seeing blue screen errors on their screens, and their computers got stuck in a restart loop. Reports suggested that the scale of the outage was massive, spreading from airports to banks and even government offices.
The central bank said it had averted the global risk as its systems were not integrated with cloud-based services. Only a few banks were using the CrowdStrike tool, limiting the exposure of the disruption caused by the update.
While the central bank's domain remains “insulated” from the global outage, it has issued an advisory to the banks to stay alert and take the necessary actions to operate in a resilient manner.
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