UPI DOWNTIME
FD interest rate up to 8.75%: These 5 banks have revised fixed deposit rates with effect from July 1
FD interest rates in July 2024: Many banks have revised their fixed deposit interest rates effective July 1, 2024 for amounts below Rs 3 crore. Note that some banks have updated the date and rates remain the same. Check which bank offers the highest interest rates after the revision.
HDFC Bank scheduled downtime next week for more than 12 hours; UPI, ATM withdrawals, other banking services to be impacted
HDFC Bank has emailed its customers to inform them that an upcoming system upgrade will improve their banking experience by enhancing performance speed, extending capacity to manage high traffic, and increasing overall dependability.
PSBs clock higher failure rates for UPI payments
In comparison, private players like HDFC Bank, Axis Bank, ICICI Bank, Yes Bank and IDFC First have an average UPI technical decline of 0.04%. Among private players, Bandhan Bank has seen technical declines of over 1%.
Inadequate tech at banks to blame for UPI downtimes
RBI governor Shaktinata Das mentioned that downtime in the UPI payment system is primarily due to weak technology on the banks' side rather than issues from NPCI. The volume of UPI transactions per day exceeds 450 million, with several instances of downtime reported in May 2024. The central bank has been working to reduce downtime instances to less than 1%.
HDFC Bank scheduled downtime alert: 7 net banking and mobile banking services will not be available on June 9, 16
HDFC Bank scheduled Maintenance: HDFC Bank has informed its customers via SMS that select services will be unavailable during an upgrade window on June 9 and 16.
HDFC Bank's netbanking services will not be available for several hours on 9th and 16th June. Check details
HDFC Bank announces scheduled maintenance for online services on June 9 and 16, affecting netbanking, mobile app services, and transactions including UPI payments.
- Go To Page 1
HDFC Bank debit, credit cards will not be working on these two days: Check details
HDFC Bank has notified customers via email and SMS that all HDFC Bank debit, credit, and prepaid card transactions would be temporarily unavailable during an update period.
Sebi nod for Awfis IPO; Byju's NCLT saga continues
The stock market regulator has greenlit coworking startup Awfis’ IPO plans. Details on this and more in today’s ETtech Top 5.
Razorpay launches UPI switch in partnership with Airtel Payments Bank
Razorpay said this infrastructure can handle up to 10,000 transactions per second, at any given time, and enable five times faster access to UPI innovations for businesses.
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.
UPI faces outage, multiple bank servers down
Multiple users took to social media channels to flag concerns around UPI payments not going through. When ET tried to make a payment, a message cropped up saying 'recipient's server is down', HDFC Bank in this case.
RBI working on light weight, portable payment system for critical transactions during catastrophic events
The Reserve Bank of India (RBI) is developing a lightweight and portable payment system designed to operate during war or natural disasters without relying on complex wired networks. It will be called the Light weight and Portable Payment System (LPSS) and is expected to have minimalistic hardware and software and will only be made active on a need basis. The system will handle critical transactions for the economy, such as those related to the government and markets, and help maintain liquidity. RBI said the LPSS could help ensure a near-zero downtime of the payment and settlement system and enhance public confidence in digital payments.
RBI plans new payment system to safeguard essential payments against digital attack, natural calamities
In its annual report 2023-23, RBI has mentioned conceptualising this new lightweight and portable payment system that can be operated from anywhere by a bare minimum staff in the event of natural calamities and war, the regulator said.
Zomato starts own UPI offering, Flipkart to follow suit
The Gurugram-based company has partnered with ICICI Bank for the service, and will allow users to make merchant payments as well as peer-to-peer payments. Ecommerce major Flipkart has also started working on its own UPI offering, according to people aware of the matter.
T+1 settlement to come into force in India this week: Is D-Street prepared for it?
The shorter trade settlement cycle will come into force for all the listed securities in the Indian equity market from Friday.
Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions
The Union Cabinet on Wednesday approved promotional incentives for Rupay debit cards and low-value transactions of BHIM (UPI). Incentives worth Rs 2,600 crore have been approved for FY22-23 by the cabinet. The Cabinet has also approved the setting up of a national level Multi-state cooperative export society under Multi-State Cooperative Societies (MSCS) Act, 2002.
UPI transactions surge to record 782 crore in December 2022
The December figure was 7% higher than in November while, in value terms, the amount transacted last month was 8% more than the preceding one
Cloud tech’s role in driving payment modernisation
Cloud platforms enable banks to embed agility ─ banks can focus more on creating value for customers and less on transaction processing and infrastructure maintenance.
How many bank accounts do you need?
Wondering whether you have too many bank accounts? Having multiple accounts certainly has its pros and cons, just as having a single account does. There might not be any ideal number, but here's one way to consolidate all your accounts in one place
HDFC Bank updates UPI terms and conditions
The Terms and Conditions for HDFC Bank's Unified Interface Payment System have been revised, according to the bank's website.
UPI hits new milestone of five billion transactions a month in March
NPCI, which operates UPI along with other payments infrastructure including Bharat Bill Payment System (BBPS), Aadhaar Enabled Payment System (AePS), among others said that total UPI transactions recorded stood at 5.04 billion (or 504 crore), for a total value of Rs 8.88 lakh crore, in March this year.
ICICI Bank faces intermittent downtime on payment stack
It could not be ascertained what was the glitch that was causing this issue, though a few users said the issue was going on since a “few hours.” It could not be ascertained how many ICICI Bank customers were impacted due to the downtime.
Sebi gives more time for implementation of SMS alerts for IPO process under UPI system
Sebi said that sponsor bank will have to execute the online mandate revoke file for non-allottees or partial allottees and provide pending applications for unblock, if any, to the RTI, not later than 5 pm pm on BOA+1.
SBI customers face glitches just before scheduled downtime
The public sector lender had earlier tweeted about the scheduled upgrade. “We will be undertaking maintenance activities between 2:10 pm to 5:40 pm on 1st April 2021. During this period, internet banking, YONO, and YONO Lite will be unavailable,” it said in a tweet.
Digital outage hits HDFC Bank customers again
In December 2020, the RBI had barred HDFC Bank from new digital launches and issuance of fresh credit cards until it addressed its digital issues. The RBI had also asked the bank’s board to identify lapses and fix accountability.
HDFC Bank faces intermittent downtime on Payments stack
“Some users have complained about facing difficulties in processing transactions, it’s not a widespread issue, our IT teams are looking into the issue to ensure smooth delivery of our services,” said a bank official. “Meanwhile, we apologise for the inconvenience caused to our customers.”
2020 Year in Review | Stage set for UPI to unlock its promise
The year 2021 may well be one where UPI evolves as a core payment channel on top of which businesses are built, unlocking opportunities for startups and big tech to scale up their fintech solutions.
Eight banks suffer a higher rate of failure in digital transactions
The failure rate is being seen as a concern in the fintech and payments sector ahead of the full-scale launch of WhatsApp Pay
Surging UPI failure rates worry banks
Ten of the top 30 banks using the country's UPI network record failure rates of over 3% in September. Nine of these banks were state-owned.
Load More
