140 mn HDFC Bank, Axis Bank customers brace for interruption in services


140 million customers of HDFC Bank and Axis Bank are expected to face interruptions in banking services over the weekend due to HDFC Bank’s system upgrade and the transition of Citi India business to Axis Bank.


Both banks have notified their customers about the interruption in services.


HDFC Bank, the country’s largest private sector lender with 93.2 million customers, had announced that it will undertake a system upgrade on July 13, wherein it will migrate its core banking system (CBS) to a new engineered platform to enhance customer experience.


According to the bank, during the 13.5-hour upgrade, HDFC Bank customers will be able to use their debit cards and credit cards on swipe machines and for online transactions, but for a restricted amount. They can also withdraw cash from any ATM using their debit cards, up to a restricted amount.


UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024. Further, merchants will continue to receive payments via cards, but updates to the account for previous day’s payments will be available post-upgrade completion, the bank said.


The third-largest private sector lender, Axis Bank, which has 48 million customers, notified its customers that certain services on the bank’s platform will be unavailable from 10 PM on July 12 to 9 AM on July 14. Services on the Axis Bank internet banking and mobile banking app, 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.


Axis Bank completed the acquisition of Citi India’s retail business on March 1, 2023, and had said the integration would be completed in 18 months.

First Published: Jul 11 2024 | 9:31 PM IST