UCO BANK IMPS TECH GLITCH

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Public sector UCO Bank on Thursday said it has been able to recover around Rs 649 crore out of Rs 820 crore, which is about 79 per cent of the amount “erroneously credited” to some customers due to a technical issue in the Immediate Payment Service (IMPS).


“The bank has initiated requisite actions to recover the balance amount of Rs 171 crore and the matter has also been reported to the law enforcement agencies for necessary action,” it said in an exchange filing.



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