[akritrime]

NEFT is not real time like IMPS (on which UPI is built). I don't think it is UPI that is unreliable, it is your bank. I have been using UPI on two accounts, SBI one is the one I face some problem from time to time. I agree with the closed source point, though.

[captn3m0]

NEFT now runs on 30 minute batches, and it is 24x7x365. RBI changed it December 2019.

It’s still not real time, but NPCI doesn’t see your transactions :)

[akritrime]

Oh that's so convenient, I thought NEFT was still limited to working hours only. I wonder how the technology underneath changed to enable this.

[captn3m0]

> wonder how the technology underneath changed

80% of fintech is excel sheets getting sent from one system to the other. A lot of these were baby-sit earlier, and RBI changed this over a year or so. They asked for banks to make sure the processes were automated first, then lots of test-runs.

I think another important reason was that the morning rush (build-up of pending transfers) was causing issues and chokepoints. Smaller window-sizes helped fix that.

[akritrime]

By babysit, do you mean someone used to go thru the sheets and update all the accounting stuff? I know its a bit idiotic question but I won't be really surprised if that's how it was.

[varbhat]

Well, i was referring to IMPS(mistyped as NEFT) as i thought it is more reliable(on which UPI is built).