UCO Bank halts IMPS service after technical glitch
The Hindu
UCO Bank has made IMPS offline due to a technical glitch from Nov 10-13. Bank is working to resolve issue & restore services. Financial impact yet to be ascertained. Bank assures all other critical systems operational & providing safe & secure services to customers.
Public sector lender UCO Bank has made the popular instant money transfer facility IMPS (Immediate Payment Service) offline following a technical glitch.
From November 10-13, a technical issue in IMPS was observed due to which “certain transaction(s) initiated by holders of other banks have resulted in credit to the account holders in our bank without actual receipt of money from these banks,” the Kolkata-headquartered bank said on November 15.
As a precautionary measure, UCO Bank has made the IMPS channel offline and working closely with the stakeholders to resolve the issue and restore the IMPS services at the earliest. The matter has also been reported to the law enforcement agencies for necessary action, it said.
“The bank re-iterates and assures that all other critical systems are operational and available. The bank continues to provide safe and secured services to customers. The financial impact, if any, due to the aforesaid is yet to be ascertained and the bank will endeavour to intimate the same on ascertainment,” UCO Bank said in a filing to the stock exchange.
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