CPCI, the National Payments Corporation of India, has re-established several retail payment connections with banks that currently use C-Edge systems after the technology provider was struck by a ransomware attack on August 1, according to a statement released by CPCI. NPCI conducted an investigation confirming the presence of ransomware on C-Edge and the impacted systems were isolated in an attempt to 'contain the potential for further spread,' according to the company. 

Earlier this week, NCPI released a statement that states the auditor performed the necessary security checks and scans to ensure the remaining infrastructure is clean as well as the security for the rest of the system. According to a statement released by NPCI on July 31, there is a possibility that ransomware may be used to attack the C-Edge technology, and payments to banks for retailers have been suspended for customers who are affected.

In the case of the policy that was being implemented, only 200 co-operatives and regional rural banks were affected. As of Monday, customers at certain Regional Rural Banks and Cooperative Banks across the country have experienced a major outage in their payment services, such as fund transfers using NEFT or UPI, as well as withdrawing from ATMs, as a result of a ransomware attack that has affected C-Edge, a joint venture between TCS and SBI. 

In the wake of a ransomware attack affecting C-Edge Technologies, a company providing technology services to banks, the National Payments Corporation of India (NPCI) has announced that the issue has been resolved as of the next working day. A ransomware attack on C-Edge, a company that runs online banking services for cooperatives and rural banks, resulted in the NPCI isolating the provider so that it could not access its retail payment systems, for the time being. 

The main purpose of ransomware attacks is to encrypt files and deny access to them to the user as a result of malicious software. A typical cyberattack in such cases is that the attacker demands a ransom from the target in return for a decryption key that enables the attacker access to the victim's servers and files in return for the ransom.  In addition to the details provided by the payments body company has learned that C-Edge Technologies has been temporarily isolated from the NPCI's retail payment systems to prevent a "larger impact on the ecosystem of payments.".  

As well as this, it stated that for the customers of the banks (primarily cooperatives and rural banks) who were served by C-Edge, customers would not be able to make UPI payments for an unspecified period during which the service would be unavailable. Almost 300 small-to-medium-sized financial institutions across the country were hit by this ransomware attack, which disrupted ATM withdrawals and UPI transactions through the country's ATMs. 

The C-Edge system was especially affected by this problem for customers of cooperative banks and regional rural banks. Even though there were issues with the banking services, the rest of the services continued to run as usual. It was discovered that there had been a breach three days ago, for which immediate precautionary measures were taken by isolating the C-Edge system to protect the broader payment infrastructure as well. 

The breach has so far not been associated with any financial losses, which is a good thing. The National Payments Corporation of India (NPCI) has announced the full restoration of banking services following a recent ransomware attack that disrupted operations. This restoration includes the services of cooperative banks and regional rural banks, allowing them to once again offer their full range of services seamlessly to their customers, as was the case before the incident. 

The breach was discovered three days ago, triggering an immediate response from the NPCI. As a precautionary measure, the C-Edge system was isolated to protect the broader payments infrastructure from potential damage. This swift action was essential in safeguarding the financial ecosystem from further threats. Fortunately, there have been no reports of financial loss resulting from the breach. 

The NPCI's prompt and effective measures have ensured the integrity and security of the banking services. NPCI has reiterated that the services of cooperative banks and regional rural banks are now fully operational. These institutions are back to offering their complete range of services without interruption, ensuring that customers can conduct their banking activities as usual. 

This swift recovery underscores the resilience and preparedness of the NPCI and the banking sector in handling cyber threats, and maintaining the trust and confidence of the public in the banking system.