New Delhi: NEFT Not working! 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. Similar technical upgrade for RTGS was completed on April 18, 2021,” RBI statement reads.

The Reserve Bank of India said that 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, RBI stated.

Meanwhile, country’s largest lender State Bank of India (SBI) has said that “NEFT services on Internet Banking/YONO/YONO Lite will not be available tween 00.01 hours and 14.00 hours on Sunday, 23-May-2021. RTGS services will be as usual”. Important Notice for our customers w.r.t. NEFT technical upgradation by RBI, SBI tweeted.