Ransomware attack on system of 300 Indian banks; Payments disrupted

A ransomware attack on C-Edge Technologies, a prominent provider of banking technology systems, has forced the temporary shutdown of payment systems for nearly 300 small local banks across India. This disruption has caused significant inconvenience to customers relying on these banks for their financial transactions.

C-Edge Technologies, which provides essential banking technology services to numerous small banks nationwide, has not yet responded to requests for comment regarding the attack. The Reserve Bank of India (RBI), the primary regulator for banking and payment systems in the country, also remained silent when approached by Reuters for a statement.

The National Payment Corporation of India (NPCI), which oversees the country's payment systems, issued a public advisory late Wednesday, stating that it had "temporarily isolated C-Edge Technologies from accessing the retail payments system operated by NPCI." This measure was taken to prevent any potential widespread impact on the broader payment network.

"Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation," the NPCI announced. Regulatory authority officials confirmed that nearly 300 small banks have been temporarily disconnected from the national payment network to contain the issue.