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State Bank of India customers face network glitches for online transactions

Several customers of faced issues to process online transactions hours before it’s scheduled maintenance. The bank which upgraded its Internet banking platform on Thursday had informed customers about a 4-hour maintenance activity. Though customers faced transaction failures from early hours Thursday morning.

Several customers took to social media to vent their frustration. While few customers claimed that they were unable to receive payments, others claimed that transactions were failing while transferring money using the Unified Payments Interface (UPI). Some users complained about the timing of undertaking such an activity, at the start of a new fiscal year when transaction activity is especially high.

The public sector lender had earlier tweeted about the upgrade activity.

“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. “We request our esteemed customers to bear with us as we upgrade our internet banking platform to provide a better online banking experience.”

The bank had faced a similar system glitch in December last year when users claimed that the bank’s mobile application was facing a technical glitch and continued to show an error M005. The RBI governor had said then that the central bank was reviewing the recent SBI outage.

“There is a need for banks and financial institutions to invest more in their IT system,” Governor Das had said in December. “We are constantly engaged with management of financial institutions where there is need to improve their IT systems.”

SBI which has a customer base of 490 million, processes at least 4 lakh transactions on its digital offerings on a daily basis. About 55% of the bank’s transactions are currently being conducted through the digital channel and half of it is contributed by YONO. The bank has more than 28 million users on YONO.

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