SBI halts UPI services on November 26. Know why.

By: Pune Pulse

November 25, 2023

Pune: The State Bank of India (SBI) has recently made an official announcement on its X handle, regarding the temporary suspension of its Unified Payments Interface (UPI) transactions. This suspension is necessary to facilitate a technology upgrade. 

On November 25, India’s biggest public service lender announced via a tweet that they will be implementing a technology upgrade in UPI from 00:30 Hrs to 03:00 Hrs IST (midnight) on November 26, 2023. Throughout this time period, all of our digital channels, with the exception of UPI, will remain accessible. This includes our internet banking services, YONO, YONO Lite, and ATM. 

As per the information provided, SBI is continuously striving to improve its technological infrastructure to offer customers a better and more secure banking experience, and this move is a part of that effort. Customers are advised to strategically schedule their transactions and make use of alternative digital platforms for their banking requirements within the designated period. 

As per the information received, temporary halt in UPI transactions demonstrates the bank’s commitment to embracing technological progress in order to enhance customer service. The UPI system’s internationalization is an ongoing endeavour as it strives to establish connections with additional overseas counterparts, including those in Western countries and Japan. On February 21, 2023, the RBI announced the initial integration of UPI with Singapore’s Paynow, which sets the stage for expedited and more transparent remittances between the two nations.