SBI UPI Services Face Technical Glitch, Affecting Over 1,200 Users

1 min read     Updated on 07 Oct 2025, 08:53 PM
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Overview

State Bank of India (SBI) experienced technical issues with its Unified Payments Interface (UPI) system on Tuesday, impacting over 1,200 users between 5:30 p.m. and 7 p.m. The majority of complaints (51%) were related to fund transfer difficulties. SBI acknowledged the problem on social media, promising resolution by 7 p.m. and advising customers to use UPI lite services in the interim. This incident highlights the challenges in India's rapidly growing digital payments ecosystem and the need for robust infrastructure to support increasing transaction volumes.

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*this image is generated using AI for illustrative purposes only.

State Bank of India (SBI), India's largest lender, experienced technical issues with its Unified Payments Interface (UPI) system on Tuesday, impacting a significant number of users. The disruption highlights the growing pains in India's rapidly expanding digital payments ecosystem.

Scope of the Disruption

  • Over 1,200 users reported problems between 5:30 p.m. and 7 p.m., according to DownDetector.
  • 51% of complaints were related to fund transfer difficulties.

SBI's Response

SBI acknowledged the intermittent technical issues on social media and stated:

  • The problem would be resolved by 7 p.m. Tuesday.
  • Customers were advised to use UPI lite services for uninterrupted transactions during the outage.

Impact and Context

While SBI UPI holds a smaller market share compared to popular platforms like Google Pay and PhonePe, this disruption is significant due to:

  1. SBI's position as India's largest lender.
  2. The growing reliance on UPI for daily transactions in India.

Previous Incidents

This is not an isolated event for SBI's digital services:

  • In March, around 800 users reported issues with SBI's mobile banking, online banking, and login services.

Importance of UPI Reliability

The incident underscores the critical need for robust and reliable digital payment infrastructure, especially as India continues to push for greater digital financial inclusion.

Looking Ahead

As UPI transactions continue to grow exponentially in India, banks and fintech companies must invest in strengthening their technological infrastructure to ensure seamless service and maintain user trust.

Financial institutions should focus on:

  1. Regular system upgrades
  2. Improved disaster recovery mechanisms
  3. Enhanced customer communication during outages

By addressing these areas, banks can minimize disruptions and support the ongoing digital transformation of India's financial landscape.

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Bank of India Reports Robust 11.8% Growth in Global Business, Reaching ₹15.62 Lakh Crore

1 min read     Updated on 06 Oct 2025, 05:11 PM
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Naman SharmaScanX News Team
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Overview

Bank of India has shown strong financial performance with an 11.8% year-on-year growth in global business to ₹15,61,888.00 crore. Global deposits increased by 10.08% to ₹8,53,301.00 crore, while global gross advances rose by 13.94% to ₹7,08,587.00 crore. Domestically, deposits grew by 8.53% to ₹7,30,097.00 crore, and gross advances climbed 14.62% to ₹5,96,794.00 crore. The bank's consolidated net profit increased by 32.2% to ₹2,252.00 crore. Gross non-performing assets improved to 2.92%, down 170 basis points year-on-year.

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*this image is generated using AI for illustrative purposes only.

Bank of India, one of India's leading public sector banks, has demonstrated strong financial performance, reporting an 11.8% year-on-year growth in global business to ₹15,61,888.00 crore. This growth reflects the bank's resilience and strategic initiatives in expanding its operations both domestically and internationally.

Key Highlights

  • Global business reached ₹15,61,888.00 crore, up 11.8% year-on-year
  • Global deposits increased by 10.08% to ₹8,53,301.00 crore
  • Global gross advances rose by 13.94% to ₹7,08,587.00 crore
  • Domestic deposits grew by 8.53% to ₹7,30,097.00 crore
  • Domestic gross advances climbed 14.62% to ₹5,96,794.00 crore

Deposit and Advance Growth

The bank's growth strategy has yielded positive results across various segments. Global deposits saw a significant increase of 10.08% to ₹8,53,301.00 crore, while global gross advances experienced a robust growth of 13.94%, reaching ₹7,08,587.00 crore.

In the domestic market, Bank of India's performance was equally impressive. Domestic deposits grew by 8.53% to ₹7,30,097.00 crore, with retail term deposits showing a notable 14.15% growth. This indicates increased customer trust and the bank's ability to attract retail savings. Domestic gross advances also showed strong momentum, climbing 14.62% to ₹5,96,794.00 crore, suggesting increased lending activities across various sectors.

Financial Performance

The bank's financial performance has been consistently strong. In a recent quarter, Bank of India reported a 32.2% increase in consolidated net profit, reaching ₹2,252.00 crore. This significant growth was primarily driven by expansion in retail, MSME, and overseas segments, showcasing the bank's diversified growth strategy.

Asset Quality

Bank of India has made substantial progress in improving its asset quality. Gross non-performing assets (NPAs) stood at 2.92%, showing a significant improvement of 170 basis points year-on-year. This reduction in NPAs reflects the bank's effective risk management strategies and improved recovery mechanisms.

Market Response

The market has responded positively to Bank of India's performance. As of the latest trading session, Bank of India shares closed at ₹125.90, up 0.32%, indicating investor confidence in the bank's growth trajectory and financial health.

Conclusion

Bank of India's robust performance across various business segments, coupled with improved asset quality, positions it well for sustained growth. The bank's ability to expand its global business while maintaining strong domestic growth reflects its strategic focus and operational efficiency. As the bank continues to leverage its strengths in retail banking and overseas operations, it is well-poised to capitalize on the growing opportunities in India's banking sector.

Note: All financial figures are in Indian Rupees (₹) and 1 crore = 10 million.

Historical Stock Returns for State Bank of India

1 Day5 Days1 Month6 Months1 Year5 Years
-0.32%-0.25%+6.57%+12.15%+10.30%+350.10%
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