State Bank of India (SBI), India's largest public sector bank, has announced a scheduled maintenance that will temporarily affect its digital banking services. This brief interruption is part of the bank's ongoing efforts to maintain and improve its digital infrastructure.

Maintenance Details

Affected Services

During the maintenance window, the following services will be unavailable:

• UPI (Unified Payments Interface)
• IMPS (Immediate Payment Service)
• Internet Banking
• NEFT (National Electronic Funds Transfer)
• RTGS (Real-Time Gross Settlement)
• YONO app services

Alternative Services

SBI has advised customers to use the following services during the downtime:

• ATM services
• UPI Lite

UPI Lite allows transactions under Rs 1,000 without requiring a UPI PIN. This service operates through a wallet system, and transactions made using UPI Lite do not appear in bank statements.

Rescheduled Maintenance

The bank had originally scheduled this maintenance for October 24 but postponed it by a day. This rescheduling demonstrates SBI's commitment to minimizing disruptions to its customers' banking activities.

Customer Advisory

While the maintenance window is relatively short and scheduled during off-peak hours, customers are advised to plan their digital banking activities accordingly. For any urgent transactions during this period, customers can rely on ATM services or use UPI Lite for small-value transactions.

This scheduled maintenance reflects SBI's ongoing efforts to enhance its digital infrastructure and ensure smooth, uninterrupted services for its vast customer base. By regularly updating and maintaining its systems, SBI aims to provide a secure and efficient digital banking experience to its customers.

The Central Government has made a significant appointment in the banking sector, nominating Vivek Joshi to the Central Board of Directors of State Bank of India (SBI). This move marks an important change in the leadership structure of India's largest public sector bank.

Key Details of the Appointment

Implications of the Appointment

This appointment brings a high-ranking government official with extensive experience in financial services to SBI's Central Board. As the Secretary of the Department of Financial Services in the Ministry of Finance, Joshi brings valuable insights into government policies and financial sector regulations.

The nomination of Vivek Joshi to SBI's board underscores the government's commitment to maintaining strong oversight and guidance for the country's largest public sector bank. This move is likely to facilitate better coordination between the government's financial policies and SBI's strategic decisions.

It's worth noting that this change in directorship comes at a time when the banking sector is navigating various challenges and opportunities, including digital transformation, asset quality management, and evolving regulatory landscapes.

The immediate effect of this appointment and the open-ended term ("until further orders") suggest the government's intent to ensure continuity and stability in SBI's governance structure while allowing for flexibility in future decision-making.

As this development unfolds, stakeholders will be keen to observe how Vivek Joshi's expertise and perspective influence SBI's strategies and operations in the coming months.