Surat Citizens’ Council Trust (SCCT) has urged the Governor of Reserve Bank of India (RBI) and Union Finance Minister Nirmala Sitharaman for providing immediate suitable measures to resolve the software crisis that has affected NPCI’s operations and adversely impacted its affiliated banks.
Most inter bank transactions in Metro cities like Surat have been affected due to the software crisis. Banks are unable to help their customers and other account holders. However, the SCCT has written a letter to Union Finance Minister Nirmala Sitharaman to address a plethora of issues related to the current software crisis in the banking system.
SCCT has raised the issue of whether there is any back up system in case of system failure, additional provision for Standby Star Topology System, which would become operational in case of such emergency and crisis, to keep economic activities running normally till the solution to the problem is found and system software is suitably rectified.
Countrywide effect of this crisis has serious implications. Hence, SCCT has demanded for an immediate CBI investigation. Normally all banks’ software is regularly audited. In the NPCI case also, it would have been complied with. More stringent critical analysis of the present audit system is needed to avert any future crisis.
By July end, Income Tax payers are filing their ITRs and paying taxes. Present crisis is System Failure and assesses are responsible for this. Therefore, SCCT has urged the Finance Minister to consider the extraordinary circumstances and do the needful so that no penalty is levied on those assessments covered under the crisis affected area/ customers of crisis affected banks.
SCCT has demanded to introduce a Support System wherein Servers are set up in each state for its limited transactions. Likewise, Local Servers may be set up at State Bank of India which can handle local transactions. i.e. Comparable to the legacy local clearing system of cheques of the past.
