For two days in November, HDFC Bank, the biggest private bank in the nation, would not be offering its UPI service. It has declared that in order to perform critical system maintenance, the UPI service will be momentarily unavailable. Customers will have a better banking experience following this maintenance.
The bank’s website states that on Tuesday,
November 5, UPI would not function for two hours, from 12 midnight to 2 am. On November 23, UPI will also be unavailable for three hours, from midnight to three in the morning.
What won’t work?
Customers will not be able to use their HDFC Bank current and savings accounts or RuPay credit cards to make financial or non-financial UPI transactions during the maintenance time. No UPI transactions, too will be possible through the bank’s mobile banking app, Google Pay, WhatsApp Pay, Paytm, or other third-party apps. Also, all types of UPI transactions will be closed on the trading accounts linked to the bank. On Friday, the NPCI reported that 16.58 billion transactions nationwide were completed over UPI in October. It was worth approximately Rs 23.5 lakh crore. Since the introduction of UPI in April 2016, this is the largest number to date.
In October,
there were 535 million UPI transactions a day. The average daily transaction amount during this time was Rs 75,801 crore. In contrast, there were an average of 501 million transactions per day in September, with a total value of Rs 68,800 crore. Immediate Payment Service (IMPS) handled 467 million transactions in October, a 9% increase over the 430 million transactions in September. The value of transactions made using IMPS rose by 11% last month.
Read More: Banks will not open on these days in November, see the full list
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