NEFT offline for 14 hours on May 23: RBI

NEFT service will be offline for 14 hours on May 23 from midnightto 2 pm on Sunday the March 23^rd. RBI claims upgrade of the NEFTsystem will be performed in this scheduled downtime.

However RTGS will not be affected.

The statement by the central bank of India reads,

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“A technical upgrade of NEFT, targeted to enhance theperformance and resilience, is scheduled after the close of business of May 22,2021.

Accordingly, NEFT service will not be available from 00:01hrs to 14:00 hrs on Sunday, May 23, 2021. The RTGS system will continue to beoperational as usual during this period.

Similar technical upgrade for RTGS was completed on April18, 2021.

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

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