Central Bank of India clarifies all accounts are safe after reports of 187 unauthorised transactions worth Rs 13.97 crore

Central Bank of India has clarified that no customer accounts were affected by the unauthorised RTGS transactions reported in the media. The bank said a technical issue was observed in the interface environment of its localised Real-Time Gross Settlement (RTGS) server, while its core banking system (CBS) remains safe and secure.

Central Bank of India also confirmed that RTGS services have been fully restored across all channels.

The bank’s clarification comes amid media reports that the Central Bank of India had reported 187 unauthorised transactions worth Rs 13.97 crore from its settlement account with the Reserve Bank of India (RBI). These transactions reportedly took place from October 15 to 17.


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The reports say that the bank alleged that unknown persons got into the central SFMS server of Indian Financial Technology and Allied Services (Iftas), a wholly owned RBI subsidiary.

According to these reports, Mumbai Police registered an FIR against unknown persons following a complaint filed by the bank.

What did Central Bank of India say about the RTGS issue?

In its clarification on reports of unauthorised RTGS transactions, Central Bank of India said a technical issue had been identified in the interface environment of the localised RTGS server maintained at the bank's end.

The bank stated that no customer account had been affected and that its CBS remained entirely safe and secure. The bank also confirmed that RTGS services had resumed fully across all channels.

Are Central Bank of India customers affected?

Central Bank of India in its message to its customer stated, “We wish to clarify that there was a technical issue observed in the interface environment of the localised RTGS server maintained at the bank’s end and no customer account is impacted. Also our CBS system remains entirely secure and safe.”

Rs 13.97 crore in unauthorised transactions reported

According to media reports, Central Bank of India reported unauthorised transactions worth Rs 13.97 crore from its settlement account maintained with the RBI.

The complaint reportedly led to the registration of a first information report (FIR) at Mumbai's Nodal Cyber Police Station. The complaint was reportedly filed by the bank's general manager (treasury).

As per the reports, 187 unauthorised transfers took place over three days. The complaint details six transactions on October 15, followed by 88 on October 16 and 93 on October 17.

The money was reportedly transferred to 36 bank accounts.