Day: July 3, 2025

SBI Outage: YONO, NEFT, UPI & IMPS Temporarily Unavailable; Bank Issues Clarification

by adminUPI

SBI Services Hit by Major Outage; YONO, UPI, NEFT & More Affected, Now Fully Restored

India’s largest public sector bank, the State Bank of India (SBI), experienced a major technical disruption that temporarily impacted several of its core digital banking services. Key platforms including YONO, RTGS, NEFT, UPI, Internet Banking (INB), and IMPS went offline for several hours, affecting users across the country.

Customer Complaints Surge Overnight

According to real-time outage tracking platform DownDetector, the issue began around 1:00 AM, with over 400 customer complaints logged within a short period. Users reported being unable to initiate fund transfers, access their accounts through the YONO app, or complete online transactions using upi and IMPS.

The outage impacted both individual and business users who rely on SBI’s digital services for everyday banking, bill payments, and urgent financial transactions.

Bank Responds, Services Restored by Afternoon

In an official update posted on social media, SBI acknowledged the technical glitch and assured customers that their teams were working on resolving the issue. By 2:00 PM, SBI confirmed that all affected services had been successfully restored and were operating normally.

“We regret the inconvenience caused due to a technical issue impacting our services. The issue has been resolved, and all channels are now operational,” SBI stated.

No Security Breach Reported

While the bank did not disclose the root cause of the issue, it confirmed that there was no data breach or compromise to customer security. The incident appears to be purely technical in nature.

Public Reaction & Digital Banking Challenges

The incident drew sharp responses from customers on social media platforms, with many expressing frustration over the downtime—particularly as it occurred during critical early-morning hours for businesses and online payments.

This is not the first time a major Indian bank has experienced digital service disruptions, highlighting the increasing pressure on banking infrastructure to handle high transaction volumes and ensure 24/7 uptime in an increasingly digital economy.

Looking Ahead

As digital banking becomes central to India’s financial ecosystem, especially through platforms like UPI and apps such as YONO, any disruption has widespread consequences. This outage reinforces the need for stronger redundancy systems, real-time monitoring, and faster communication from banks during service lapses.

EPFO Launches 2025 Update: Instantly Withdraw PF via UPI

by adminUPI / UPI Payments

The Employees’ Provident Fund Organization (EPFO) is set to roll out a major upgrade in 2025, revolutionizing how over 7 crore members access their PF funds. Under the new system, subscribers may soon be able to withdraw PF instantly through UPI or ATMs, eliminating delays and simplifying the process.

What’s Changing?

Currently, PF withdrawals require submitting a claim, which can take days or even weeks. The upcoming update aims to eliminate claim filing altogether by linking EPF accounts with UPI IDs or bank accounts, enabling real-time access to funds.

How Will upi -Based Withdrawals Work?

Once launched, users will be able to:

  • Log into the EPFO portal
  • Choose ‘Withdraw via UPI’
  • Enter their UPI ID and amount
  • Confirm the transaction
    No documents or long waiting periods will be needed.

Additionally, the Labour Ministry is exploring ATM-based withdrawals, allowing PF access like a regular bank transaction—provided the EPF account is bank-linked.

Auto-Settlement & Claim Cap Raised

EPFO had earlier introduced auto-settlement during COVID-19, processing claims up to ₹1 lakh in 3 days. This limit has now been raised to ₹5 lakh to support urgent needs like medical emergencies, weddings, or housing.

Security Measures in Place

Despite not being a licensed bank, EPFO will partner with fintech providers to ensure secure transactions, featuring:

  • Two-factor authentication
  • Aadhaar and DigiLocker integration
  • End-to-end encryption

Traditional vs UPI Withdrawal: A Comparison

MethodProcessing TimeAvailability
Traditional2–4 weeksLimited hours
UPIUnder 1 minute24/7 access

What Members Should Do :

To take full advantage of the new system :

  • Link your Aadhaar, UPI ID, and bank details with your EPFO account.

This major upgrade aligns with the Digital India mission, aiming to boost transparency, convenience, and financial accessibility for millions.

PM Modi in Ghana: UPI Push, 4 MoUs, Defence & Mineral Ties

by adminUPI

Prime Minister Narendra Modi’s visit to Ghana marked a transformative moment in India’s engagement with West Africa. In a significant diplomatic breakthrough, India and Ghana signed four Memorandums of Understanding (MoUs) to bolster cooperation across culture, healthcare, standardization, and institutional dialogue.

The bilateral meeting between PM Modi and Ghanaian President John Mahama not only saw the signing of agreements but also the formal elevation of India-Ghana relations to a Comprehensive Partnership — a move that underscores mutual intent to deepen engagement across multiple domains.

Key Outcomes of the Visit:

  • 1. MoUs Signed:
    • Culture: Promoting shared heritage and people-to-people ties.
    • Health: Enhancing cooperation in public health systems and services.
    • Standardisation: Strengthening regulatory frameworks and aligning quality standards.
    • Institutional Dialogue: Fostering structured, high-level communication between government bodies.
  • 2. Strategic Sectors Identified for Future Cooperation:
    PM Modi emphasized India’s interest in expanding collaboration in areas of critical minerals, defence manufacturing and training, maritime security, and renewable and conventional energy. These sectors align closely with Ghana’s national development priorities and India’s strategic outreach in the Global South.
  • 3. Digital India Goes Global – UPI Push in Africa:
    The leaders discussed the potential integration of India’s Unified Payments Interface (UPI) in Ghana, positioning India as a digital solutions provider in Africa. The push aligns with India’s broader agenda of promoting its fintech capabilities on a global stage.
  • 4. Cultural and Historical Linkages:
    PM Modi highlighted the deep-rooted historical ties between India and Africa, underscoring the shared struggle against colonialism and a commitment to South-South cooperation. “Enhancing cultural linkages was also talked about,” he wrote on X.

Strategic Significance:

This visit signals India’s growing interest in resource security, particularly in critical minerals essential for clean energy technologies and electronics. Ghana, rich in bauxite, lithium, gold, and other vital minerals, is emerging as a key partner in India’s efforts to secure diversified and reliable supply chains.

At the same time, the focus on defence and maritime security points to India’s larger Indo-Pacific vision, as it seeks to ensure security across sea lanes and expand naval cooperation in the Atlantic-Africa corridor.

Slice Launches India’s First UPI-Only Bank Branch in Bengaluru

by adminUPI / UPI Payments

Fintech innovator slice has launched its first UPI-powered physical bank branch in Koramangala, Bengaluru, along with an ATM that accepts cash deposits and withdrawals via UPI. This move aims to redefine traditional banking by turning it from a routine necessity into a seamless, tech-driven experience.

The new branch marks a major milestone in slice’s mission to revolutionize credit and banking access across India. Customers can walk into the branch for instant account openings, explore banking products through self-service kiosks, and transact using the UPI-integrated ATM—all designed to maximize speed, ease, and accessibility.

Slice UPI Credit Card: No Fees, More Rewards

As part of the launch, slice introduced the slice UPI credit card, which carries no joining or annual fees. Linked to a credit line, it enables customers to make UPI payments or scan QR codes just like a regular debit UPI transaction—while enjoying the benefits of credit.

Key features include:

  • Up to 3% cashback on all spends
  • Slice in 3: Convert any purchase into three interest-free EMIs instantly

This product builds on slice’s larger vision to democratize credit in India by leveraging the power of UPI, which has already enabled digital payments for over 400 million users.

A Shift from Fintech to Full-Stack Banking

Unlike many fintech companies that depend on partner banks, slice owns its entire banking infrastructure—from core systems to underwriting engines—allowing full control over the customer experience.

Satish Kumar Kalra, MD & CEO of slice, stated:

“In my 40 years of banking, I’ve witnessed many milestones—but this feels like a revolution. With credit on UPI and full-stack control, we’re reimagining what banking can be for every Indian.”

Expanding Footprint and Vision

While slice has roots in Northeast India, this physical expansion to Bengaluru marks the next phase of its growth story. The company aims to address the credit needs of 300 million customers and merchants, many of whom have never accepted credit cards before.

“The real opportunity is enabling safe, scalable credit at the point of sale, through a mobile-first approach, while lowering cash handling costs with slice UPI ATMs. We believe this is the path to making essential banking services viable for a billion Indians.”

The Future of Banking Begins Today

Slice’s UPI-first branch delivers:

  • Complete UPI integration at every touchpoint
  • Self-service digital kiosks
  • Instant customer onboarding
  • UPI-enabled ATMs for cash deposits and withdrawals.

NRIs Can Now Use UPI in India Without an Indian Phone Number

by adminUPI / UPI Payments

IDFC First Bank Enables UPI Access for NRIs Using International Mobile Numbers

IDFC First Bank has introduced a new UPI (Unified Payments Interface) feature that allows Non-Resident Indians (NRIs) to make digital payments in India using their international mobile numbers linked to NRE and NRO accounts—eliminating the need for an Indian SIM card.

Previously, UPI access was restricted to users with Indian mobile numbers, limiting NRIs’ ability to perform seamless digital transactions such as bill payments and money transfers. With this update, NRIs can now participate in India’s UPI ecosystem using global mobile numbers.

The service is currently live for customers from six countries: United States, United Kingdom, United Arab Emirates, Canada, Australia, and Singapore. Eligible users can activate UPI services through IDFC First Bank’s mobile app or by visiting a branch. After completing verification, they can conduct transactions via any UPI-enabled platform—including QR code payments and direct transfers—just like domestic users.

This rollout supports the Reserve Bank of India’s broader initiative to globalize India’s digital payment infrastructure. It is expected to benefit NRIs by simplifying tasks such as sending remittances, managing investments, and handling real estate or utility expenses in India.

Looking ahead, IDFC First Bank plans to expand this facility to more countries and enhance its digital offerings for NRIs with features like investment tracking, utility bill payments, and EMI processing via UPI.