The online services of India's largest lender, State Bank of India(SBI) will remain unavailable for few hours today due to maintenance activities. During this period, Internet Banking / YONO / YONO Lite / UPI will be unavailable. Last month, the bank's digital banking platforms, including Yono, Yono lite, internet banking, Unified Payments Interface (UPI) was affected due to maintenance. As of December 31, 2020, it had 85 million internet banking and 19 million mobile banking users. Meanwhile, The RBI on Wednesday has imposed penalties on SBI, Bank of Baroda, IndusInd Bank, Bandhan Bank and 10 other lenders for contravention of various regulatory norms, including on lending to NBFCs.

Source: Mint July 10, 2021 05:15 UTC