Bank of Baroda (BoB) has said the process of upgrading its core banking software has led to technical glitches in the NEFT, RTGS and outward clearing-related transactions, which have been addressed by its team on a war-footing basis. Thousands of customers of the bank had found their savings and current accounts wrongly debited with charges for NEFT and RTGS transactions.
“Our bank has migrated its core banking technology platform to the latest Finacle version 10.x with an objective to provide a significant enhancement in services provided to our customers. This was undertaken after meticulous planning, testing and training by our team over the past few months. The upgradation exercise went through smoothly during the weekend over August 12-13, 2017,” it stated on its website.
“Approximately 8300 accounts were also impacted on August 12, 2017 on account of erroneous debit of service charges that were not due from the customers. These charges have since been reversed and impacted customers have been duly informed via SMS on August 20, 2017,” the bank said.
“Over the weekend, alternate channels went live with transactions going through the internet and mobile banking as well as the ATM network. Considering the massive scale and magnitude of the upgradation, there have been some glitches in the NEFT/ RTGS and outward clearing related transactions, which have been addressed by our team on a war footing basis around the clock and have largely been fixed ever since,” BoB said.