If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers.
The Reserve Bank of India (RBI) on Monday said that due to NEFT system upgrade, this service will not be available from 00:01 hrs to 14:00 hours on Sunday, May 23, 2021
This would mean that during this period any money transfer involving NEFT system would not be available for use by <a href="https://www.mid-day.com/mumbai/mumbai-news/article/sensex-up-500-points-banking-finance-stocks-surge-23173670" target="_blank" rel="noopener">bank</a> customers. But, the RTGS system will continue to be operational as usual during this period.
Also Read:&nbsp;<a class="ng-binding" href="https://www.mid-day.com/news/india-news/article/rbi-announces-rs-50000-crore-liquidity-window-for-covid-19-related-health-services-23171768">RBI announces Rs 50k crore liquidity window for Covid-19 related health services</a>
It may be mentioned that a similar technical upgrade for RTGS was completed on April 18, 2021.
"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," an RBI communication to banks said.
The communication advised banks to inform their customers to plan their payment operations accordingly.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

The Reserve Bank of India (RBI) on Monday said that due to NEFT system upgrade, this service will not be available from 00:01 hrs to 14:00 hours on Sunday, May 23, 2021

Bank NEFT transfers will not be operational coming weekend

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / News / India News / Article / Bank NEFT transfers will not be operational coming weekend

Bank NEFT transfers will not be operational coming weekend

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast