UPI, IMPS, retail payments of these banks temporarily unavailable due to ransomware attack

The National Payments Corporation of India (NPCI) said that UPI, IPMS and other payment systems of certain banks will not be available to customers temporarily.

This happened due to systems of C-Edge Technologies- a service provider to several banks- being attacked by ‘ransomware’.

NPCI said, “To prevent larger impact to the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated by NPCI. Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation.”

Which banks are affected by the ransomware attack?

C-Edge is a technology service provider for cooperative and regional rural banks. NPCI said, “It has been brought to NPCI’s notice that C-Edge Technologies, a technology service provider who caters mostly to cooperative and regional rural banks, has been possibly impacted by a Ransomware attack impacting a few of their systems.”

It added, “Restoration work is underway on a war-footing along with C-Edge Technologies and necessary security review is in process. Connectivity to the affected banks shall be restored at the earlies.”

What is a ransomware attack?

A ransomware attack is a type of cyberattack where malware encrypts a victim’s data or locks them out of their systems. The attackers then demand a ransom payment in exchange for restoring access.