SBI’s core banking operations hit by connectivity issues

 The Hindu Businessline

October 13, 2020

State Bank of India (SBI) on Tuesday said all delivery channels (except ATMs and POS machines) will be affected as intermittent connectivity issues have delayed making its Core Banking System (CBS) available to its customers.

SBI has a multi-channel delivery model, which includes digital, mobile, ATM, internet, branches and business correspondent (BC) outlets.

CBS is an IT platform that networks all the operations of a bank, including branches, ATMs, POS, etc., enabling a customer to transact from any branch of the bank or seamlessly transact digitally.

“We regret the inconvenience caused and request you to bear with us. Normal service will resume soon,” SBI said.

As at March-end 2020, SBI had 44.89 crore customers. The bank had a network of 22,141 branches, 58,555 ATMs & ADWMs (Automated Deposit & Withdrawal Machines, CDMs & Recyclers) and 61,102 BC outlets.

Reference: https://www.thehindubusinessline.com/money-and-banking/sbis-core-banking-operations-hit-by-connectivity-issues/article32841551.ece

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