The National Payments Corporation of India (NPCI) has announced a temporary disruption in UPI, IPMS, and other payment systems for several banks due to a ransomware attack on C-Edge Technologies, a technology solutions provider. This attack has led to a brief suspension of access to retail payment systems managed by NPCI. The affected banks, which include cooperative and regional rural banks, will experience interruptions in their payment services during this period.
NPCI disclosed that the ransomware attack impacted some systems of C-Edge Technologies, prompting a precautionary separation of the provider from NPCI’s payment infrastructure. The move is intended to minimise disruptions to the broader payment ecosystem. During the separation, bank customers using services through C-Edge Technologies will face temporary restrictions in accessing payment systems.
C-Edge Technologies is a key IT solutions provider for cooperative and regional rural banks. The ransomware attack, which typically involves encrypting data or locking access to systems and demanding a ransom for restoration, has led to a coordinated recovery effort. NPCI is working closely with C-Edge to restore connections and ensure security protocols are followed. The restoration of services will occur as swiftly as possible once the security audit and recovery processes are completed.
Ransomware Attacks
Ransomware attacks involve malicious software that encrypts or locks a victim’s data, rendering it inaccessible until a ransom is paid. These attacks are designed to disrupt operations and extract payment from the victim. The incident involving C-Edge Technologies highlights the ongoing risks associated with cyberattacks and the need for robust security measures in digital payment systems.
The recovery process is underway with C-Edge Technologies, and NPCI is actively managing the situation to minimise impact on customers. The affected banks and their customers are advised to stay informed about the status of the service restoration. NPCI assures that all necessary steps are being taken to secure and reinstate the payment systems as soon as possible.