SBI UPI DOWN
![Stay light & keep some cash handy; buy only after the event is over: Anand Tandon](https://img.etimg.com/thumb/msid-110068751,width-100,height-75,resizemode-4/markets/expert-view/stay-light-keep-some-cash-handy-buy-only-after-the-event-is-over-anand-tandon.jpg)
Stay light & keep some cash handy; buy only after the event is over: Anand Tandon
Anand Tandon provides insights on market dynamics, banking sector performance, consumer trends, and investment strategies amidst evolving economic landscapes and global uncertainties, suggesting cautious optimism and strategic planning for future opportunities.
![India's transaction trends: ePayment riches leave circulation of currency poorer](https://img.etimg.com/thumb/msid-109958715,width-100,height-75,resizemode-4/news/economy/finance/indias-transaction-trends-epayment-riches-leave-circulation-of-currency-poorer.jpg)
India's transaction trends: ePayment riches leave circulation of currency poorer
India's transition to digital payments is effectively curbing the traditional outflow of currency from its banking system, as evidenced by the sharpest decline in the growth of currency in circulation (CIC) since demonetisation in FY24. The Reserve Bank of India's (RBI) decision to phase out Rs 2,000 banknotes from circulation last year further contributed to this trend.
![Online credit card spends rise 20% YoY in March to a record high of Rs 1 lakh crore](https://img.etimg.com/thumb/msid-109590747,width-100,height-75,resizemode-4/industry/banking/finance/online-credit-card-spends-rise-20-yoy-in-march-to-a-record-high-of-rs-1-lakh-crore.jpg)
Online credit card spends rise 20% YoY in March to a record high of Rs 1 lakh crore
In March, online credit card spending surged past Rs 1 lakh crore for the first time, hitting Rs 1,04,081 crore, marking a 20% rise from March 2023 and a 10% increase from February 2024. This reflected a growing trend of using cards for smaller purchases. HDFC Bank led the market share at 20.2%, followed by SBI, ICICI Bank, Axis Bank, and Kotak Mahindra Bank.
![Kotak Mahindra Bank app, Net banking, UPI down? This is what the bank has to say](https://img.etimg.com/thumb/msid-109313410,width-100,height-75,resizemode-4/wealth/personal-finance-news/is-kotak-mahindra-bank-app-net-banking-upi-down-this-is-what-the-bank-has-to-say.jpg)
Kotak Mahindra Bank app, Net banking, UPI down? This is what the bank has to say
Kotak Mahindra Bank: The bank's mobile app and a few other digital services were unavailable to a large number of Kotak Mahindra Bank customers. In response to customers' complaints, Kotak Mahindra Bank stated on the social networking site, X, that its technical team is urgently addressing the matter, and a resolution can be expected shortly.
![SBI MD on RBI policy, LCR framework & more](https://img.etimg.com/thumb/msid-109058338,width-100,height-75,resizemode-4/markets/expert-view/sbi-md-on-rbi-policy-lcr-framework-more.jpg)
SBI MD on RBI policy, LCR framework & more
AK Tewari discusses the importance of adapting LCR monitoring to digital times to prevent rapid bank runs due to the instant withdrawal capability, emphasizing the critical role of deposit gathering in the banking sector amid ongoing transformations. Tiwari also says: "For all banks, especially the deposit gathering and focus will be the key thing for the next several quarters."
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SBI net banking, UPI down: State Bank of India net banking, YONO mobile app, UPI will be down today during this time
SBI down on April 1: State Bank of India (SBI) has announced that the services of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO, and UPI would be unavailable on April 1, 2024 due to Annual Closing.
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HDFC Bank asks customers to avoid this money transfer facility on April 1, 2024: Delay in salary and other payments
In an email to customers, HDFC Bank has said that this mode of money transfer may not be available on Monday, April 1, 2024. The bank has suggested HDFC customers to use other options to transfer money on Monday. Your salary may also get delayed due if it is done through NEFT due to financial year-ending on April 1, 2024. All HDFC customers must know
SBI net banking, mobile app, YONO will be down on this day: Check date, timings, alternate channels to use
SBI digital banking: Several State Bank of India (SBI) digital channels will be unavailable for some time due to scheduled activity. Services of Internet Banking, Yono Lite, Yono Business Web & Mobile App, YONO and UPI will not be available.
Paytm likely to partner with four banks for enabling UPI transactions, sources say
Paytm, India's third-largest UPI app, is set to partner with Axis Bank and other banks for UPI transactions. However, Paytm faces disruption as it must wind down its banking unit by March 15, as ordered by RBI.
Paytm’s UPI payments: Two contrasting trends
While the payment app has grown exponentially as the beneficiary bank on UPI, on the issuance side it had stagnated from mid last year.
Why only Paytm? If SBI refuses to listen to RBI, they will take action against it also: Rajnish Kumar, BharatPe
Rajnish Kumar of BharatPe says "UNO, owned by a bank with good governance, follows design principles for security and compliance. Fintechs, without a banking license, need self-regulation. Responsible behavior is crucial in the payment ecosystem to mitigate risks of fraud, cybercrime, and data breaches. Today, if you are seeing that India's banking system is much stronger, it is because the RBI has played a very critical role in providing that necessary supervision, guidance and regulations."
UPI payments failing amid server outages; multiple banks affected
Reports of UPI outage have poured in from various places as users struggle with digital payments. Major platforms like Google Pay, PhonePe, and BHIM have been reportedly affected, along with server issues in banks.
Number of credit cards up but spending down? Shweta Daptardar explains what it means
Shweta Daptardar says: “ Across the credit card industry, be it SBI Cards, HDFC and other top players, while month-on-month there has been a decline in spends post the festive month. The year-on-year growth has been phenomenally strong across key players. However, as far as cards outstanding is concerned, most of the players have maintained their market share."
SBI UPI services will be down on this day; Check your alternatives
State Bank of India (SBI) UPI services will be down for a few hours on November 26, 2023.
SBI, HDFC Bank, Bank of Baroda, other banks allow you to scan UPI QR code and pay via RBI CBDC; how it works
Several banks have recently enabled a new functionality for their customers who are transacting using e-Rupee or Digital Rupee, which is India's Central Bank Digital Currency (CBDC) product. This new functionality enables Digital Rupee users to scan UPI QR codes to make payments in CBDC. Read here for details.
Fintech to bring down operation cost as well as acquisition cost: Srinivas Jain, SBI MF
"The fall in operational costs should 100% impact the consumers, because at the end of the day, if operating costs are going to be lower, the benefit of the operating cost will be passed on to the customer. And that is what regulators, all the large institutions are pushing for."
Coming soon - a BNPL experience from your bank via UPI; Pepperfry elevates cofounder Ashish Shah as CEO
The Reserve Bank of India (RBI) has instructed banks to open up pre-sanctioned credit lines through Unified Payments Interface-based transactions.
The Rs 2,000 decision may boost consumption, enlarge banking liquidity
Interestingly, the withdrawal of the Rs 2,000 note should not impact the payment ecosystem in India, which already has been revolutionised by the Unified Payments Interface (UPI). Total digital payments as percentage-to-GDP has increased to a staggering 767 per cent in FY2023.
NPCI leans on bank partnerships to push RuPay credit cards
With UPI being allowed on RuPay credit cards, NPCI is hoping to attract more lenders as it could be a major source of attraction for consumers.
Scoop: Tiger Global’s big bet on IPL; Binny Bansal eyes stake in volleyball team Bengaluru Torpedoes
Happy Monday. Global funds and individual investors are all lining up funds for professional sports clubs, a new and emerging trend that we are capturing through two important stories in today's packed and rather sporty edition of ETtech's Morning Dispatch.
SBI server down: Customers complain about issues regarding net banking, UPI on Twitter
Many State Bank of India (SBI) customers have been complaining about the net banking and UPI services not functioning properly online.
SBI server down: Why State Bank of India net banking, UPI were down yesterday, bank clarifies
In a statement, SBI apologised to its customers for any inconvenience and assured them that steps are being taken to avoid similar situations in the future.
Why SBI UPI, netbanking, SBI YONO app and credit card not working? This could be the reason
SBI is one of the most popular digital payment provider in India. However, several SBI customers today reported issues with net banking and UPI. Several SBI customer took to microblogging site, Twitter to express their frustration with the slow service. As per customers, the server is down or non-responsive services, including net banking, UPI payments, credit card and the official SBI app (YONO).
SBI's UPI, net banking services suffer due to server outage, users complain
The State Bank of India's (SBI) UPI and net banking services were affected after the bank's server reportedly faced an outage, according to media reports. The server was reported to be down since Monday morning. Users took to Twitter to share the information and coplain about the situation.
BharatPe makes three new hires for security, audit and governance functions
The company announced the appointment of Ambuj Bhalla as its chief information security officer (CISO), Rahul Bhatia as head of internal audit, and Ravinder Oberoi as head of compliance.
Less of cash, with more to go around
A swifter expansion of digital payments, coupled with a broadening GST base and using data analytics for GST's audit trails, will provide understandings that bring down cash use. Of course, systemic reforms are also needed in sectors like real estate to curb black money generation.
SBI YONO, YONO Lite, YONO Business & INB UPI unavailable during these hours on April 1, 2022
Due to yearly account closing activities, the State Bank of India (SBI) has stated that majority of its digital banking services would be unavailable on Friday.
SBI YONO, UPI, Net banking to be unavailable on December 11: Check details here
According to the bank's official Twitter account, SBI customers will not be able to use services such as Internet Banking, YONO, YONO Lite, UPI for 300 minutes on Saturday, 1th December.
SBI internet banking will be down for some time this weekend. Check timings
Internet banking services of the State Bank of India will be down for certain hours this weekend because of maintenance work, the bank has informed.
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