No NEFT service for 14 hrs on May 23 due to upgradation work
The online banking facility National Electronic Funds Transfer (NEFT) will not be available for 14 hours on May 23. âA technical upgrade of NEFT, targeted to enhance the performance and resilience, is scheduled after the close of business of May 22, 2021, the Reserve Bank of India said in a notification earlier this week.
As a result, the NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday, May 23, 2021, it further added. âMember banks may inform their customers to plan their payment operations accordingly, the regulator said, adding, âNEFT Members will continue to receive event update(s) through NEFT system broadcasts.
May 17, 2021
RBI asks member banks to inform their customers to plan their payment operations
The National Electronic Funds Transfer (NEFT) service will not be available from 12:01 AM to 2 PM on Sunday, May 23, 2021, as the Reserve Bank of India (RBI) will undertake a technical upgrade of the service.
The Central bank, in a statement, said the upgrade is targeted to enhance the performance and resilience and is scheduled after the close of business on May 22, 2021.
RBI asked member banks to inform their customers to plan their payment operations accordingly.
The Real Time Gross Settlement (RTGS) system, which is used to send and receive funds of ₹2 lakh and above, will continue to be operational as usual during this period.
The fund transfers in the NEFT system aresettled in 23 half-hourly batches
The National Electronic Funds Transfer (NEFT) system will not be available from 12 am to 2 pm on May 23 i.e. Sunday, so as to enhance the performance and resilience, the Reserve Bank of India said in a tweet this morning. The system will be restored at 2 pm.
Promoted
The real-time gross settlement (RTGS) system will remain operational during this period.
EFT service will not be available from 00:01 hrs to 14:00 hrs on May 23, to enhance the performance and
National Electronic Funds Transfer (NEFT) is a system of electronic transfer of funds from one bank to another. Under NEFT, people electronically transfer money from a bank branch to those holding an account in any other bank branch. These fund transfers do not occur on a real-time basis, but are settled in 23 half-hourly batches.
Bank tranfer: NEFT service won t be available on May 23 during these hours
The services will remain unavailable due to a technical upgrade. The RTGS system will continue to be operational as usual during this period, says the central bank
BusinessToday.In | May 17, 2021 | Updated 14:33 IST
NEFT members will continue to receive event updates through NEFT system broadcasts
The National Electronic Funds Transfer (NEFT) service will not be available from 00:01 hrs to 14:00 hrs on Sunday, May 23, 2021, the Reserve Bank of India said on Monday. The services will remain unavailable due to a technical 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 RBI statement said.
No NEFT service for 14 hours on May 23: RBI
By ANI| Posted by Minhaj Adnan | Published: 17th May 2021 4:05 pm IST ANI
Mumbai (Maharashtra) [India], May 17 (ANI): The National Electronic Fund Transfer (NEFT) service will not be available for 14 hours on May 23, the Reserve Bank of India (RBI) said on Monday.
“A technical upgrade targeted to enhance the performance and resilience is scheduled after the close of business of May 22. Accordingly, NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday May 23,” said RBI in a statement.
Meanwhile, the Real Time Gross Settlement (RTGS) services will continue to be operational as usual during this period. A similar technical upgrade for RTGS was completed on April 18.