The NEFT service on SBI, YONO and YONO Lite online banking services will be unavailable for 14 hours
New Delhi: India’s largest commercial lender, State Bank of India (SBI), said its digital services would be affected due to the technical upgrade of NEFT systems after business closed on Saturday, May 22. SBI customers will not be able to use SBI, SBI YONO and SBI YONO Lite online banking services between 12:01 am and 2:00 pm on Sunday.
Informing about this in a tweet, SBI said, âRBI will undertake the upgrade of its NEFT systems after the close of business on May 22, 2021. NEFT services on online banking, YONO and YONO Lite will not be available between 12:01 am. and at 2:00 pm on Sunday May 23, 2021. RTGS services will be available as usual. “
Information regarding the downtime of NEFT services for 14 hours on Sunday was first shared by the Reserve Bank of India (RBI). The central bank had urged lenders to inform their clients that NEFT transactions from 12:01 am to 2:00 pm on Sunday, May 23, 2021 would remain unavailable due to the NEFT system upgrade.
âA technical upgrade of NEFT, aimed at improving performance and resilience, is planned after the close of business on May 22, 2021. As a result, the NEFT service will not be available from 12:01 am to 2:00 pm on Sunday May 23, 2021. The RTGS system will continue to operate as usual during this period. A similar technical upgrade for RTGS was completed on April 18, 2021, “said a statement from RBI.
SBI’s online banking services have been unavailable for a period of time starting Friday, May 21. The lender has been upgrading its online services since Friday, May 21. On Thursday, May 20, SBI announced that the bank’s online systems were undergoing maintenance. The bank has alerted its customers to the temporary shutdown of its digital services. âWe ask our valued customers to stay with us as we strive to provide a better banking experience,â SBI tweeted.
It should be added that SBI changed the opening and closing times of its branches in the midst of the second wave of COVID-19 in India. Customers are advised to visit the bank only if necessary, as the bank will only be open for four hours – from 10:00 a.m. to 2:00 p.m. until May 31.