Reserve Bank of India has informed that National Electronic Funds Transfer (NEFT) service will not be available till 2 pm today. RBI said, due to technical upgrade of NEFT service, aimed at enhancing its performance and resilience, the facility has been suspended for all member banks for 14 hours from midnight last night. It said, the RTGS system will however continue to be operational as usual during this period. It has asked all member banks to inform their customers to plan their payment operations accordingly.
Similar technical upgrade for the RTGS transfer facility was completed last month.