Bank customers must take notice that you won’t be able to do NEFT transaction from tonight. Reserve Bank of India (RBI) has said that the NEFT service will not remain available till Sunday afternoon.
National Electronic Funds Transfer (NEFT) is considered to be an important feature of internet banking and one-to-one payment facility.
Bank customers can opt for Real-Time Gross Settlement (RTGS) to make any urgent payment. NEFT system, which is regulated by RBI itself, will not be available from 12.01 AM on May 23 till 2 pm on Sunday, according to a statement by the India’s central bank.
There will be a technical upgrade which RBI says will enhance the performance and resilience of NEFT. ‘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 RTGS system will continue to be operational as usual during this period.
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