Ransomware Attack Disrupts 300 Small Banks Across India

A ransomware attack on C-Edge Technologies, a technology service provider, has disrupted payment systems for nearly 300 small local banks in India. The National Payment Corporation of India (NPCI) temporarily isolated C-Edge Technologies from accessing the retail payments system to prevent a broader impact, according to regulatory officials.

As a result, customers of these banks are unable to access payment systems during this isolation period. NPCI is conducting an audit to ensure the attack does not spread further. The Reserve Bank of India and Indian cyber authorities had previously warned banks about potential cyber threats.

Although nearly 300 banks are affected, this impacts only about 0.5% of the country's payment system volumes. Most of these are small cooperative and regional banks operating outside major cities.