Risk of erroneous fund transfers is like a hanging sword for financial services firms: Nithin Kamath

November 20, 2023

Nithin Kamath’s comments come against the backdrop of a major mishap at UCO Bank earlier this month, wherein the state-owned lender erroneously transferred a total of Rs 820 crore through mobile-based Immediate Payment Service (IMPS) to some customers due to a technical glitch

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