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The di-leptons and di-neutrinos observed in the final states offlavor-changing neutral b decays provide an ideal platform for probing physicsbeyond the standard model. Although the latest measurements of $R_{K^{(*)}}$agree well with the standard model prediction, there exists several otherobservables such as $P_5^{\prime}$, $\mathcal{B}(B_s\to \phi \mu^{+}\mu^{-})$and $\mathcal{B}(B_s\to \mu^{+}\mu^{-})$ in $b\to s \ell\ell$ transition decaysthat shows deviation from the standard model prediction. Similalry, veryrecently Belle II collaboration reported a more precise upper bound of$\mathcal{B}(B\to K^+\nu\bar{\nu}) < 4.1\times 10^{-5}$ by employing a newinclusive tagging approach and it also deviates from the standard modelexpectation. The $b\to s l^{+}l^{-}$ and $b\to s\nu\bar{\nu}$ transition decaysare related not only in the standard model but also in beyond the standardmodel physics due to $SU(2)_L$ gauge symmetry, and can be most effectivelyinvestigated using the standard model effective field theory formalism.Additionally, the $b\to s\nu\bar{\nu}$ decay channels are theoretically cleanerthan the corresponding $b\to s l^{+}l^{-}$ decays, as these processes do notget contributions from non-factorizable corrections and photonic penguincontributions. In this context, we study $\Lambda_b\to (\Lambda^*(\to pK^-),\Lambda(\to p\pi))({\mu}^{+}\mu^{-},\,\nu\bar{\nu})$ baryonic decays undergoing$b\to s \ell^{+}\ell^{-}$ and $b\to s\nu\bar{\nu}$ quark level transitions in astandard model effective field theory formalism. We give predictions of severalobservables pertaining to these decay channels in the standard model and incase of several new physics scenarios.

New physics analysis of $\Lambda_b\to (\Lambda^*(\to pK^-), \Lambda(\to  p\pi))({\mu}^{+}\mu^{-},\,\nu\bar{\nu})$ baryonic decays under SMEFT  framework