RBI asks banks and payment cos to submit status update on Microsoft outage

The Reserve Bank of India (RBI) has instructed banks and payment companies to report on their systems' status following the Microsoft outage that recently impacted several sectors. The outage led to disruptions in banking operations, including transaction processing and online services. The RBI's directive aims to ensure that financial institutions assess and mitigate the effects of such disruptions on their services and to enhance their resilience against future incidents. The update will help the RBI gauge the extent of the impact and the measures taken to address it.