New Delhi: The Reserve Bank of India on Monday informed that the National Electronic Funds Transfer (NEFT) facility will not be available for at least 14 hours on May 23. The service would be disrupted from 00.01 hrs to 14.00 hrs on Sunday due to NEFT system upgrade, the RBI said in a statement.
“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 banking regulator said in a notification.
NEFT System Upgrade – Downtime from 00.01 Hrs to 14.00 Hrs. on Sunday, May 23, 2021https://t.co/i3ioh6r7AY
— ReserveBankOfIndia (@RBI) May 17, 2021
Furthermore, it asked member banks to inform their customers so that they can plan their payment operations accordingly. “Member banks may inform their customers to plan their payment operations accordingly,” the regulator stated, adding, “NEFT Members will continue to receive event update(s) through NEFT system broadcasts.”
However, the Real-Time Gross Settlement (RTGS) facility will continue to be operational as usual during this period. “The RTGS system will continue to be operational as usual during this period. Similar technical upgrade for RTGS was completed on April 18, 2021,” RBI said.
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