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'Software glitch' halts online transactions of cooperative sector banks

By Economic Times - 4 months ago
A software glitch has disrupted online transactions at nearly 300 banks across India for the past three days, primarily affecting cooperative banks. The National Payments Corporation of India (NPCI) suspects a ransomware attack and has temporarily isolated the software. The issue, linked to 'C-Edge' software by TCS and SBI, has caused problems with RTGS and UPI payments. Banks, including 17 in Gujarat, are awaiting restoration as the RBI works to resolve the issue.

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