UCO Bank faces technical glitch; IMPS services hit

State-owned UCO Bank on Wednesday said its Immediate Payment Service (IMPS) of the bank faced some technical glitch and made IMPS offline. The financial impact due to this is yet to be ascertained, UCO Bank said in a regulatory filing.

"During the period from November 10-13, the bank has observed, due to technical issue in IMPS, 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," it said.

The bank, as a precautionary measure, has made the IMPS channel offline and is working closely with the stakeholders to resolve the issue and restore the IMPS services at the earliest, it said.


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," it said.

The financial impact, if any, due the aforesaid is yet to be ascertained and the bank will endeavour to intimate the same on ascertainment, it said.