Fri. Jun 14th, 2024

The State Bank of India (SBI) has announced that the Unified Payment Interface (UPI) transactions for all customers will be halter temporarily on November 26, Sunday, for several hours.

SBI will temporarily shut down its UPI services on November 26, Sunday.(Mint)

India’s largest lender wrote on its X account that UPI payments will remain temporarily suspended on November 26 for technological upgrades to the platform.

The service will be down for three hours.

The public sector bank tweeted on Saturday, “We will be undertaking technology upgrade in UPI between 00:30 hours to 3:00 hours IST (midnight) on 26-11-2023. During this period, except UPI our other digital channels including Internet Banking, YONO, YONO Lite and ATM will be available.”

Those who want to make online payments through their SBI account on Sunday during this timeframe must resort to alternate methods such as internet banking and SBI’s online banking application YONO.

The disruption in UPI services in SBI is set to impact over 44 crore customers of India’s largest public sector bank. SBI is currently trying to improve its UPI services, as it has a history of having a low success rate when it comes to quick transactions.

UPI has emerged as one of the quickest and most popular form of online payment method across the country, with the internationalization of the interface still underway. Currently, the Indian government is in talks with several Western countries and Japan to launch their UPI services overseas.

The Reserve Bank of India has also announced the linkage of UPI payments with Singapore’s in-house payment method Paynow, which will result into quicker and more transparent transactions between the two countries in the future.

 

By admin

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