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Money transfer via NEFT to be disrupted from May 23 midnight to 2 pm

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Money transfer via NEFT to be disrupted from May 23 midnight to 2 pm
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Mumbai: The Reserve Bank of India has notified about the disruption of the National Electronic Fund Transfer (NEFT) service from 12.01 am to 2.00 pm on Sunday, May 23, 2021, due to a 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," an RBI communication to banks reported.

This is to say that any money transfer involving the NEFT system would not be available for use by bank customers during this period. The communication also advises banks to inform their customers to plan their payment operations accordingly.

However, the RTGS system will continue to be operational as usual. A similar technical upgrade for RTGS was completed on April 18, 2021.

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TAGS:NEFT Payment operations 
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