SBI banking system hit by connectivity issues

State Bank of India (SBI) core banking services have been hit, the lender informed in a tweet. Although the ATMs and POS machines are not affected. The country's top lender said that intermittent connectivity issues have delayed 'making our core banking system available to our esteemed customers today (13.10.20)'. All channels except ATMs and POS machines will be affected.

"We request our customers to bear with us. Normal service will resume soon," SBI tweeted.

SBI further said that the services will be restored before noon. Many SBI customers took to the microblogging website Twitter, notifying about the glitch. YONO app users were also unable to access their accounts. "Instead of posting on twitter this important notice should have been sent to all customers through SMS," one user wrote.

Another user wrote, "Can not use online banking website or make payments through any of the UPI apps. Having trouble with SBI since yesterday."

SBI is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country. As on June 30, 2020, the bank has a deposit base of over R. 34 lakh crore with CASA ratio of more than 45% and advances of nearly ?24 lakh crore.

SBI commands nearly 34% market share in home loans and nearly 33% in the auto loans segment. The Bank has the largest network of over 22,100 branches in India with an ATM / CDM network of over 58,500 and total BC outlets of more than 62,200. The number of customers using internet banking facilities is about 76 million and mobile banking services stand a little more than 17 million. The integrated digital and lifestyle platform by SBI - YONO has crossed the landmark of 58 million downloads.

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