SBI Resolves Technical Glitch Impacting Online Banking Services for 'Few Hours', Issues Statement

The country's largest lender SBI's online banking services were impacted for a few hours due to a technical glitch on Monday, inconveniencing scores of customers. SBI, which serves nearly a fourth of the over 130 billion Indians, admitted to a "technical glitch" on Monday.

Many customers took to social networking sites to voice their concerns of service disruptions.

Customers complained of inability to access the bank's Yono banking app and also undertake any banking transactions online during the period while some said that services have been impacted since late last week.

"We regret to inform you that due to a 'technical glitch', some of our digital services were impacted for a few hours on April 3, 2023.

"However, the issue stands resolved, and the digital services are live and restored," the bank said in a late evening statement.

Details about the exact issue, services impacted and the total duration of the downtime were not disclosed.

In the past, the RBI had penalised HDFC Bank for repeated technical outages.

The regulatory action had also forced the lender into having an overhaul of its system architecture with the aim of minimising the instances of outages and restoring the systems as quickly as possible if they go down.

Earlier this year, SBI announced a partnership with PayNow, the online payment system of Singapore, for cross-border payments, after a real-time payments system linkage using the UPI platform was established between India and the city state.

The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will allow fund transfers from India to Singapore through registered mobile numbers, and from Singapore to India using the UPI ID, the bank said in a statement.