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

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

Following a large-scale outage in Microsoft Services, which impacted IT systems globally and led to disruptions in various sectors, RBI found that about 10 banks and NBFCs had minor disruptions, which have either been resolved or are being resolved. RBI noted that most banks’ critical systems are not in the cloud, and only a few banks are using the CrowdStrike tool. RBI said that the Indian financial sector remains insulated from the global outage overall.