UPI Issue: Users of many banks are facing problems in doing UPI and IMPA. The reason behind this is ransomware attack. Scroll to read the full news.
UPI Issue: National Payments Corporation of India (NPCI) said that UPI, IPMS and other payment systems of some banks will be temporarily unavailable to customers. This has happened due to a 'ransomware' attack on the system of C-Edge Technologies, which provides services to many banks.
What did NPCI say?
NPCI said in its statement, "To prevent major impact on the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated through NPCI. Customers of banks serving through C-Edge will not be able to access the payment systems during the isolation process."
Which banks are served by C-Edge?
C-Edge provides technology services to cooperative and regional rural banks. NPCI said, "It has been brought to the notice of NPCI that C-Edge Technologies, a technology service provider that exclusively provides services to cooperative and regional rural banks, may have been affected by a ransomware attack, affecting some of their systems."
Restoration work done
It said, "Restoration work is underway on a war footing in collaboration with C-Edge Technologies and necessary security review is in process, connectivity to the affected banks will be restored at the earliest."
What is a Ransomware Attack?
A ransomware attack is a type of cyberattack in which malware encrypts the victim's data or locks them out of their system. The attackers then demand a ransom in exchange for restoring access.
