HDFC Bank has informed its customers that National Electronic Funds Transfer (NEFT) transactions may not be available on April 1, 2024, due to procedures regarding financial year-ending and advised against using NEFT facility for moving money today. It further stated that the customers getting salaries on the first day of the month through NEFT, may see delayed salaries, even as the bank cleared that other payment services like IMPS, RTGS, or UPI will work normally.
In a notification to its customers, HDFC Bank said, “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.”
Furthermore, with the new financial year 2024-25 setting in starting today, here are other announcements one should be aware of in order to avoid unnecessary hassles:
Bank operations on April 1, 2024
In another notification by the Reserve Bank of India, it was announced that banks will remain closed for operations on April 1, to enable them to close their yearly accounts. While banks are closed in most regions/ states across the country, it will remain open in Aizawl, Chandigarh, Gangtok, Kolkata, Shillong and Shimla, the RBI said.
It is worth noting that per another RBI notification, all branches of the banks dealing with Government receipts and payments were open for transactions on March 30 and March 31 just as any working week day. Earlier, in a notification dated March 20, 2024, RBI had said, “The Government of India has made a request to keep all branches of the banks dealing with Government receipts and payments open for transactions on March 31, 2024 (Sunday) so as to account for all the Government transactions relating to receipts and payments in the FY 2023-24 itself. Accordingly, Agency Banks are advised to keep all their branches dealing with government business open on March 31, 2024 (Sunday).”
Exchange of Rs 2000 note unavailable
Now another notification by the RBI on March 28, 2024 had stated that the facility to exchange Rs 2000 note will be unavailable on April 1, 2024, due to operations associated with the Annual Closing of Accounts. The facility will resume at the 19 issue offices of the RBI on Tuesday, April 2, 2024. The 19 RBI offices depositing/exchanging the bank notes are in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
SBI hikes debit card maintenance charges
Last week, the State Bank of India (SBI) announced that it has revised the annual maintenance charges for different categories of SBI debit cards, including Classic, Silver, Global, and Contactless, that will take effect on April 1. The annual maintenance fees for various SBI debit card categories, including Yuva, Gold, Combo and Platinum Debit Cards, have been increased by Rs 75. The public lender will also alter the fees associated with issuing and replacing debit cards. Starting from April 1, there have been a number of adjustments made to specific credit cards which include suspension of certain credit cards from being able to accrue reward points on rent payment transactions. Meanwhile, accumulated reward points on the transaction of rent payment for some credit cards will run out on April 15.