SBI alert! NEFT service will remain unavailable on THIS date

State Bank of India (SBI) may need to wrap up all their digital transactions pending for Sunday (May 23) on Saturday (May 22), as the bank’s online services will be affected due to a technical upgradation. 

The state-owned bank said that it will be upgrading its National Electronic Funds Transfer (NEFT) systems after the closure of business on Saturday. SBI customers won’t be able to use internet banking, YONO and YONO Lite from 00:01 am to 14:00 pm on Sunday. 

Announcing the blackout on Twitter, SBI said, “RBI will be undertaking upgradation of its NEFT systems after the close of business on 22 May, 2021. NEFT services on internet banking, YONO and YONO Lite will not be available between 00:01 am and 14:00 pm on Sunday, 23 May, 2021. RTGS services will be available as usual."

The information regarding the NEFT blackout on Sunday was first shared by the Reserve Bank of India (RBI). The central bank had urged lenders to update their customers that NEFT transactions from 00:01 hrs to 14:00 hours on Sunday, May 23, 2021, will remain unavailable due to the NEFT system upgrade.

"A technical upgrade of NEFT, targeted to enhance the performance and resilience, is scheduled after the close of business of May 22, 2021. Accordingly, NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday, May 23, 2021. The RTGS system will continue to be operational as usual during this period. Similar technical upgrade for RTGS was completed on April 18, 2021," an RBI statement said.

SBI is upgrading online services since Friday, May 21. On Thursday (May 20), SBI had announced that the bank’s online systems are going under maintenance. The bank alerted its customers about the temporary shutdown of its digital services. “We request our esteemed customers to bear with us as we strive to provide a better banking experience," SBI tweeted.