Mumbai: If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers.
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It may be mentioned that a similar technical upgrade for RTGS was completed on April 18, 2021.
"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," an RBI communication to banks said.
The communication advised banks to inform their customers to plan their payment operations accordingly.