The cooling period in SBI refers to the period of time after adding a new beneficiary during which you are not allowed to transfer any amount to that beneficiary. The cooling period varies from bank to bank, but in SBI, it is typically four days from the time of approval. During this period, you can transfer up to Rs. 5 lakhs to the beneficiary. After the completion of the cooling period, you will be able to transfer up to the maximum limit. The cooling period is implemented to decrease the chances of fraud and to ensure that the account and its funds are secure. However, there are some exceptions to the cooling period. For example, if a beneficiary is approved by the branch, the activation of the beneficiary will be instant and the cooling period of 4 days will not be applicable. Additionally, if you use IRATA to approve a beneficiary, you can schedule a transaction instantly.