RBI Alert! NEFT Service Won’t be available for 14 Hours on 23rd May 2021

Reserve Bank of India (RBI) on Monday, 17 May 2021 said that National Electronic Fund Transfer (NEFT) service will not be available for 14 hours on 23rd May 2021 due to “NEFT System Upgrade”.

NEFT System Upgrade

Vide Press Release 2021-2022/218, RBI alert that,

“A technical upgrade of NEFT targeted to enhance the performance and resilience, is scheduled after the close of business on May 22, 2021. Accordingly, NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday, May 23, The RTGS system will continue to be operational as usual during this period. A similar technical upgrade for RTGS was completed on April 18, 2021.”

Member banks may inform their customers to plan their payment operations accordingly.

NEFT Members will continue to receive event update(s) through NEFT system broadcasts.

This means that although the NEFT system would not be available for bank customers during the above-mentioned time, and RTGS system will continue to be operational as usual during this period.

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