MUMBAIA team of experts constituted by the RBI is in the process of investigating the reasons for the breakdown of HDFC Bank ’s digital banking channels which caused for millions of customers to be locked out of their net banking and mobile banking accounts for over 48 hours earlier this week.“We are cognizant of the problem. It happened on 2nd of December due to technical glitches and restored on Tuesday” said the deputy governor MK Jain at Monetary Policy press conference responding to a query on whether the regulators will penalize banks such incidences. “Our team has gone to identify the reasons (for the breakdown) and find out what we can give as directions (to the bank).”Following the payday outage at the most valued lender in the country, several customers were unable to access their salary accounts to make bill payments on time expressed their displeasure on twitter even as #hdfcbankdown trended on Monday and Tuesday across the microblogging platform.“We apologise that the resolution of the technical glitch is taking more time than anticipated. Our experts are working round the clock,” HDFC Bank had tweeted responding to these customer complaints on Tuesday. While some users claimed even on Wednesday of the non-functioning of the platforms, but the RBI clarified that these channels were up and running.This is the second such major outage faced by the bank’s digital channels in recent times. Last year around the same period a new version of the bank’s application broke down forcing the private lender due to heavy payday traffic forcing the bank to restore an older version of their application.HDFC Bank is the largest private lender with a customer base of around 50 million, of which, as per the bank’s annual report, over 90 percent transact through the internet.