UCO Bank Stops IMPS Service For Customers

Public Sector UCO Bank stops IMPS service for customers due to some internal technical glitches. The popular instant money transfer facility IMPS (Immediate Payment Service) is now provided offline to customers by the bank. Earlier the bank had reported a technical issue in IMPS was observed due to 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.

Also Read – How Did Bank of Baroda Associates Steal Funds From the Accounts via Mobile App ?

“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 said.