Minimal impact of Microsoft tech outage on MF industry, says AMFI
This story was originally published at 18:16 IST on 20 July 2024
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NEW DELHI – Most asset management companies in India were unaffected by the global outage of Microsoft systems, which adversely affected several sectors and led to cancellations of hundreds of flights across the world on Friday, the Association of Mutual Funds in India said in a release today.
"In India, all the Asset Management Companies, their Mutual Funds and Registrar and Transfer Agents functioned without any impact," the release said.
Out of the 44 asset management companies in the country, only five reported disruptions to some important functions, which were resolved during the day and did not have any material impact on operations, the association said.
"Overall, the Indian Mutual Funds industry did not witness any significant impact to the daily activities."
Outages related to products of Microsoft and global cybersecurity firm CrowdStrike adversely affected several companies across different industries worldwide. Windows hosts related to CrowdStrike agent "Falcon Sensor" faced outages and crashed due to a recent update received in the product. The concerned windows hosts experienced a "Blue Screen of Death" related to Falcon Sensor. End
Reported by Shubham Rana
Edited by Ashish Shirke
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