In a recent announcement on its official X handle, formerly Twitter, the State Bank of India (SBI) has informed the public that its Unified Payments Interface (UPI) transactions will be temporarily suspended for a technology upgrade.
In a tweet posted on November 25, India’s largest public service lender stated, “We will be undertaking technology upgrade in UPI between 00:30 Hrs to 03:00 Hrs IST(midnight) on November 26, 2023. During this period, except UPI, our other digital channels including internet banking services, YONO YONO Lite, and ATM will be available.”
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The planned upgrade is scheduled to take place during the early hours of November 26, 2023, from 00:30 Hrs to 03:00 Hrs IST. During this period, UPI transactions will be temporarily unavailable, while other digital channels such as internet banking services, YONO YONO Lite, and ATMs will remain operational.
The move is part of SBI‘s ongoing efforts to enhance its technological infrastructure to provide customers with an improved and secure banking experience.
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Customers are encouraged to plan their transactions accordingly and utilize alternative digital channels for their banking needs during the specified timeframe. The State Bank of India, with its extensive network and customer base, plays a pivotal role in India’s banking sector. The temporary suspension of UPI transactions reflects the bank’s dedication to staying at the forefront of technological advancements to better serve its customers.
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The internationalization of UPI system is a work in progress as it works towards linking it with more and more overseas counterparts, including some in the West and Japan. On February 21, 2023, the RBI announced the first linkage of UPI by integrating it with Singapore’s Paynow, paving the way for faster and more transparent remittances between the two countries.
