On Saturday, stock market exchanges issued a joint statement addressing the global outrage caused by a Microsoft systems failure. The Indian exchanges reported that their operations were largely unaffected by the incident and continued to function smoothly.
“On July 19, 2024, there was a global outage of Microsoft Systems that caused disruptions across various sectors worldwide. In India, all Exchanges and Clearing Corporations functioned without any impact,” the joint statement from Indian stock exchanges read.
The statement further clarified that only 11 trading members experienced operational disruptions due to the outage. These issues have either been resolved or are in the process of being resolved, and there has been no significant impact on clearing activities within the Indian securities market. “Out of the 1400+ trading members’ ecosystem, 11 reported disruptions to their operations. These issues were either resolved during the day or are being addressed. Overall, Exchanges & Clearing Corporations have not witnessed any significant impact on trading,” the statement added.
The disruption, which began on Friday, was attributed to a severe outage affecting Microsoft Windows systems. The global impact of the outage extended to flight operations, banking services, financial services, and hospitals, all of which experienced significant disruptions due to issues with Microsoft’s cloud services.
In response, the Indian Computer Emergency Response Team (CERT-In) issued an advisory concerning the widespread issues caused by a recent update to the CrowdStrike Falcon Sensor. This update resulted in system crashes and the infamous “Blue Screen of Death” (BSOD) on many Windows hosts running the CrowdStrike Falcon Sensor.
Reports indicated that the update led to instability, making many systems inoperable. In response, CrowdStrike rolled back the changes from the recent update. CERT-In also recommended specific mitigation steps for systems still experiencing crashes.
In India, the most notable impact was on flight operations, with nearly all airline operators forced to cancel or reschedule flights, causing significant inconvenience for travelers.Indian Stock Exchanges Remain Stable Amid Global Microsoft Systems Outage: Minimal Disruptions Reported.
(With ANI Inputs)
