HDFC Bank account holders may not get NEFT facility on April 1; know why
HDFC Bank Alert: If you have a account in HDFC Bank and use it regularly, you may not get NEFT transfer facility on April 1, 2024. The bank says transactions may get delayed/may not be available on April 1 due to financial year-end procedures. Due to this reason, there are other linked facilities also that may not be available on April 1.
HDFC Bank Alert: Today (April 1, 2024) is the first day of the new financial year (FY24-25). On this occasion, the Reserve Bank of India (RBI) has instructed all the banks to close their branches. Due to this reason, a lot of banks will go through procedural changes and may not provide some of their facilities. Likewise, if your bank account is in HDFC Bank, you may not get NEFT facility on April 1, as per the bank's statement.
The HDFC Bank statement read: "Dear Customer, Thank you for banking with HDFC Bank. Please note, outward NEFT transactions may get delayed/may not be available on 1st April 2024 due to financial year-end procedures. We request you to please complete your transaction using IMPS, RTGS, or UPI during this period. We regret any inconvenience this may cause. If you require any assistance, please contact our customer support team on 18001600/1800 2600. Thank you for your continued trust in HDFC Bank."
Will HDFC account holders' salaries be delayed?
HDFC Bank said that due to procedural changes, any incoming NEFT transfers, including salary or other payments scheduled for April 1, 2024, may also face delays.
Which HDFC facilities one can access?
HDFC Bank has instructed that customers who want to avoid potential delays arising due to NEFT disruptions can explore alternative transactional options such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), and Real Time Gross Settlement (RTGS).
Why are banks closed on April 1?
The RBI said that banks will remain closed across India as the closure aligns with the mandatory year-end account closing procedures.
In April 2024, banks will remain shut for a total of 14 days across different regions in India.
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