In a recent cyber attack, a ransomware incident has severely affected over 200 cooperative and regional rural banks whose systems are managed by C-Edge Technologies. This attack has created significant disruptions in the banking services offered by these institutions.
C-Edge Technologies, based in Mumbai, is a joint venture between Tata Consultancy Services (TCS) and the State Bank of India (SBI). The firm handles critical payment systems for many regional rural banks and cooperative banks. According to sources who spoke to CNBC-TV18 on condition of anonymity, the ransomware attack has compromised the firm’s systems, leading to widespread issues.
In response, the National Payments Corporation of India (NPCI) has taken decisive action. They have temporarily suspended all retail payment services provided by C-Edge Technologies to prevent further disruptions in the payment system. This decision was made to protect the overall payment ecosystem from further damage.
NPCI announced on X that this suspension is a precautionary measure. They explained, “To prevent a larger impact on the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated by NPCI.”
As a result, customers of banks served by C-Edge Technologies are currently unable to use retail payment services such as UPI (Unified Payments Interface), IMPS (Immediate Payment Service), and other payment options provided through NPCI. The full extent of the impact is still being assessed as the investigation continues.
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