Image used for consultant functions solely.
| Photo Credit: REUTERS
Public sector lender UCO Bank has made the favored immediate cash switch facility IMPS (Immediate Payment Service) offline following a technical glitch.
From November 10-13, a technical difficulty in IMPS was noticed as a result of 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 financial institution mentioned on November 15.
As a precautionary measure, UCO Bank has made the IMPS channel offline and dealing carefully with the stakeholders to resolve the difficulty and restore the IMPS providers on the earliest. The matter has additionally been reported to the regulation enforcement companies for needed motion, it mentioned.
“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 mentioned in a submitting to the inventory change.
