UPI services will be affected

Some digital services of the country’s largest private bank HDFC Bank will be disrupted for millions of customers on Sunday, June 8. UPI transactions (financial and non-financial) related to HDFC Bank’s current and savings accounts and RuPay credit cards will not be available. The bank said that during the downtime, customers can use PayZapp to complete their financial transactions.

Third-party apps will not work

UPI transactions on Google Pay, WhatsApp Pay, Paytm, and other third-party apps linked to HDFC Bank accounts will not work. Merchant UPI payments through HDFC Bank will also stop. These include net banking and mobile banking apps. In such a situation, you will not be able to see any kind of information related to the account through mobile applications. Nor will any deposit related work be done. Fund transfer (IMPS, NEFT, RTGS), instant account opening, and other digital banking services will also not be available during this time.

The bank has advised customers to complete important transactions in advance and use PayZapp Wallet, which is a secure digital wallet and virtual card, during this time. This maintenance is being done to improve the banking experience and increase the security and efficiency of the system. Customers are expected to cooperate and understand during this time.

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Usually, banks in most states, except Himachal Pradesh and Mizoram, are closed on March 31 due to Ramadan-Eid (Eid-ul-Fitr), but since it is the last day of the financial year, the government wants all government revenue collection, payments and other financial settlements to be completed on this day so that the new financial year can begin without any hitches.

As per RBI orders, the following services will continue on March 31st:

Payment of government taxes (Income Tax, GST, Customs Duty, Excise Duty)
Payment of government pension and subsidy
Disbursement of salaries and allowances of government employees
Public transactions related to government schemes and subsidies

Banks will remain closed on April 1, 2025.

However, banks will remain closed in most states on April 1, 2025 (Tuesday) due to Annual Account Closing. Banks will remain open only in Meghalaya, Chhattisgarh, Mizoram, West Bengal and Himachal Pradesh.

Digital banking services will continue.

Many digital services like tax payments, online banking and fund transfers through mobile banking will remain operational. However, customers should confirm with their banks whether digital transactions will continue smoothly with their bank.

Impact of this decision of RBI

This step of RBI will ensure that there should be no hindrance in government revenue collection. Banking services should run smoothly and no government payment should remain pending.
All necessary financial settlements can be completed on the last day of the financial year.

Banking customers are advised to plan their banking operations keeping this change in mind, especially those planning to use banking services on March 31 and April 1.

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