Nearly 300 Indian banks, which faced ransomware attack, have resumed operations, the National Payments Corporation of India (NPCI) announced. The attack targeted C-Edge Technologies, a banking technology service provider for these banks.
Mumbai-based C-Edge Technologies is a partnership with Tata Consultancy Services (TCS) and State Bank of India (SBI).
India is home to about 1,500 cooperative and rural regional banks that primarily serve customers in rural areas. The cyber attack impacted approximately one-fifth of these banks. In response, the NPCI temporarily isolated the affected banks from the country’s retail payments system to prevent the spread of the attack, Reuters reported.
A forensic audit conducted by a security review firm confirmed that the attack did not spread to the systems of the banks themselves but was contained within C-Edge’s systems. As a result, the impacted banks are now able to resume payments via the United Payments Interface (UPI) and other payment systems managed by the NPCI.
The ransomware attack affected Brontoo Technology Solutions, a key partner of C-Edge Technologies. According to a report by cyber-security firm CloudSEK, the attack was carried out by the ransomware group RansomEXX.
