Ransomware attack shuts down payment systems in nearly 300 Indian banks
A ransomware attack on technology service provider C-Edge Technologies has temporarily shut down payment systems across nearly 300 small local banks in India, according to two sources directly aware of the matter.
C-Edge Technologies, which provides banking technology systems to small banks nationwide, has not responded to an email seeking comment. Similarly, the Reserve Bank of India (RBI) did not reply to Reuters' request for comment.
The National Payment Corporation of India (NPCI), which oversees payment systems, issued a public advisory late Wednesday, stating that it had "temporarily isolated C-Edge Technologies from accessing the retail payments system operated by NPCI."
"Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation," the NPCI announced.
To prevent a wider impact, nearly 300 small banks have been isolated from the broader payment network, according to sources who are officials at a regulatory authority. "Most of these are small banks and only about 0.5% of the country's payment system volumes would be impacted," one source said.
India has nearly 1,500 cooperative and regional banks, mainly operating outside major cities, and some of these banks have been affected, the sources told Reuters.
NPCI is conducting an audit to ensure the attack does not spread, the second source added.
In recent weeks, the RBI and Indian cyber authorities have warned banks about potential cyber-attacks, according to banking industry sources and the first source.
With inputs from Reuters.
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Gold found in Lakkundi village in Karnataka is 'not treasure': ASI official
Gadag (Karnataka) (PTI): Gold found while digging earth to lay the foundation for the expansion of a house in Lakkundi, a village known for its architectural heritage here, is "not treasure", a senior ASI official said on Sunday.
Superintending Archaeologist, ASI -- Dharwad circle, Ramesh Mulimani visited the spot, a day after a copper pot containing the gold was found.
"This is not a treasure... many ornaments found are broken. They were found in the kitchen area of the house. In the past, our ancestors used to hide ornaments by burying them beside the kitchen stove area, as they had no treasury. This was a practice in the past and what has been found now also seems to be the same thing," Mulimani said.
"It needs to be ascertained the age of the ornaments. Many are broken. If coins were found, we could have assessed to which period they belonged," he said, adding that the gold has now been kept into safe custody at the treasury.
The government has taken possession of the 470 grams of gold comprising various forms of ornaments, including necklace, bangle and earrings.
According to police, an eighth standard student spotted the ornaments in a copper pot.
"The boy honestly told the senior members of the village. Soon after getting information, the officers and evaluators from various departments reached the spot. There were 22 items kept in the pot, which have been taken into possession," Gadag SP Rohan Jagadeesh had told reporters on Saturday.
