About 14 crore customers of HDFC Bank and Axis Bank may face disruption in banking services this weekend. Both these banks are upgrading their systems. Along with this, Axis Bank is also transitioning the business of Citi India.
Both the banks have informed their customers about the disruption in services. HDFC Bank is the country’s largest private sector lender. It has 9.32 crore customers. The bank had` announced that it would upgrade its core banking system (CBS) on July 13 to migrate it to a new engineering platform to improve customer experience.
When will HDFC Bank services be disrupted?
The bank said that UPI services will not be available to customers from 3 am to 3.45 pm and 9.30 am to 12.45 pm on July 13, 2024. Apart from this, merchants will continue to receive payments through cards, but account updates for the previous day’s payments will be available only after the upgrade.
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According to the bank, during the system upgrade, HDFC Bank customers will be able to use their debit and credit cards on swipe machines and for online transactions, but for a limited amount. They can also withdraw a limited amount from any ATM using their debit card.
Axis Bank customers will face big trouble this weekend
At the same time, Axis Bank is the third largest private sector lender in the country. It has 4.8 crore customers. The bank informed that some services on the bank’s platform will be unavailable from 10 pm on July 12 to 9 am on July 14. Services on Axis Bank’s internet banking and mobile banking apps, fund transfers from Axis Bank accounts through NEFT, RTGS and IMPS, credit card transactions, mutual fund subscriptions and loan services will be temporarily unavailable during July 13 and July 14.
The bank completed the acquisition of Citi India’s retail business on March 1, 2023 and then said that the integration would be completed in 18 months. These services will be temporarily disrupted due to the transition of Citi India’s business.
