Banking transactions of 13 district cooperative banks and 169 sub member banks affiliated to Gujarat State Cooperative Bank have been disrupted since last Monday. Banking sector informants say that there is a possibility that the banking transactions of these banks will be reversed this Wednesday evening. RTGS, UPI, digital transactions and IMPS have been affected.
Effect on District Bank-Member Bank Transactions
The financial and banking transactions of State Cooperative Bank in Gujarat and 13 District Cooperative Banks and 169 Sub Member Banks networked and financially connected with it have been disrupted since last Monday. Not only the Gujarat State Co-operative Bank, but also the banking and financial transactions of the rural banks associated with NABARD have been affected.
500 crore financial transactions disrupted
Those associated with the banking sector say that this problem has arisen due to the apprehension of a ransomware-like attack in TCS's subsidiary C-Edge. In the three days from Monday July 29 to July 31, financial transactions worth around 500 crores have been stuck. Which has affected various district co-operative banks, urban co-operative banks and district co-operative banks.
Transactions are likely to be reversed today
Digital transactions have been halted as part of a precautionary measure by TCS subsidiary Sea Edge Company. Claimed to have prepared a private technical problems report. Today, digital transactions are expected to become routine. However, bank transactions in Bhavnagar, Jamnagar, Kheda and Mehsana districts were not affected.
