Technical Problems Affect State Bank of India's Online Banking Services

Due to the bank's Annual Closing activities, the State Bank of India (SBI) has notified its clients that some financial services will be momentarily unavailable on April 1, 2025. The bank made the announcement through a post on X. For banks to complete financial records, reconcile accounts, and guarantee a smooth transition into the new fiscal year, this planned downtime is crucial. In its message, SBI recommended customers arrange their transactions appropriately to prevent any disruption.

Reports of SBI mobile banking failures increased, with a peak occurring between 11:00 AM and 11:30 AM IST, according to data from Downdetector. Mobile banking accounted for 64% of the reported problems, with fund transfers coming in second at 33% and ATM troubles at 3%. Consumers vented on social media about unsuccessful transactions and trouble logging into their accounts.

Official Statements of SBI and NPCI

The services of Internet Banking, Retail, Merchant, Yono Lite, CINB, Yono Business Web & Mobile App, YONO, and UPI would not be available tentatively between 13:00 and 16:00 IST on April 1, 2025, owing to Annual Closing activity, according to SBI's official website. ATM and UPI Lite services will be accessible during this time. Through its official X handle, '@TheOfficialSBI', the bank has posted the same on its social media platform.

The National Payments Corporation of India (NPCI) announced that several banks are experiencing sporadic decreases in transactions as a result of the end of the fiscal year. The UPI system is operating smoothly, and we are collaborating with the relevant banks to address any issues that may arise. Via its official X handle, @npci_npci, NPCI also posted this information on its social media platform.

Services Available Vs Non Available Services

 For more seamless transactions, SBI users might try using other bank accounts to make payments. Small transactions can be made using UPI light without a UPI PIN if it is available. Payments can also be made with ATM-cum-debit cards.

Why Banks are Closed on 1 April 2025?

On April 1, 2025, India's next fiscal year officially begins. On this day, banks prepare financial reports and audit records, close and reconcile their books for the previous fiscal year, and update loan balances and interest rates for the upcoming one. This closure is observed by banks in both the public and private sectors. Bank workers perform account reconciliation and audits in the background, while consumers are unable to transact at physical branches. Various states have planned a number of bank holidays for April 2025, including celebrations of Akshaya Tritiya, Mahavir Jayanti, Ambedkar Jayanti, Good Friday, Bohag Bihu, and Basava Jayanti.