Thursday, August 5, 2021

NEFT services to be unavailable from 12:01 am to 2 pm on May 23

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The Reserve Bank of India (RBI) has announced that the National electronic funds transfer (NEFT) service will be unavailable available from 00:01 hours to 14:00 hours on Sunday, May 23. According to RBI, the NEFT services will be affected due to a technical upgrade targeted to enhance the performance and resilience of the NEFT systems.

However, RBI has revealed that the Real-Time Gross Settlement (RTGS) system will continue to function in the meantime. The RBI has ordered the banks to brief their customers and asked them to plan payment operations accordingly.

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