Look Who it Was Random video

JM SPECIAL: DIGITAL ROBBERY - UPI SCAM

1,237 views · Published 15 March 2017 · 16:06 · Indexed 8 November 2026

Channel: Jai Maharashtra News · 2017 · News & Politics

Watch on YouTube

JM SPECIAL: DIGITAL ROBBERY - UPI SCAM
The state-owned Bank of Maharashtra has filed an FIR against 50 people for illegally pulling money using the Unified Payments Interface (UPI) and causing a loss of Rs 6.14 crore to the financial institution.
The accused (in many cases their own accounts held with Bank of Maharashtra) used the UPI app to "collect" money from the accounts of the bank's customers, which did not even have requisite balance. They exploited a bug or a loophole in the bank's UPI app developed by Mumbai-based Infrasoft Technologies.
Some of these 50 people uses Real Time Gross Settlement (RTGS) to send the money thus received into another account. They also seemed to have procured mobile SIM cards for these transactions as most of the numbers are now switched off. The bank lodged the FIR against them on March 8.


BHIM app, or the Bharat Interface for Money, is the Narendra Modi government’s latest app to push India towards a cashless or ‘less-cash’ society. Prime Minister Narendra Modi today launched the BHIM app, which is available for Android OS. An iOS (Apple) app will be launched soon. According to the government, the BHIM app allows the users to make cashless payments using their mobile phones in a “fast, secure and reliable” way.
The Aadhaar-based payments app has been developed by the National Payment Corporation of India (NPCI). The ‘Made in India’ app is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts.

Subscribe to our channel for Latest news and updates in marathi, marathi news, maharashtra news, breaking news, headlines, Latest news, video, marathi newspaper, marathi movie, sports news, international news, world news, crickets, entertainment news, bollywood, National news, Agriculture, business, Politics news, health, science, business, exclusive news, Live TV, photogallery, blog, poll, opinion, मराठी न्यूज, जय महाराष्ट्र न्यूज, महाराष्ट्र न्यूज.

Don't forget to Like & Share for more news and Videos

Subscribe to our Youtube:
http://bit.ly/jmnsubscribe

Like us on Facebook: 
https://www.facebook.com/JaiMaharashtranews

Follow us on Twitter: 
https://twitter.com/JaiMaharashtraN

Circle us on Google plus: https://plus.google.com/+Jaimaharashtranews/posts

Visit us on: 
http://jaimaharashtranews.tv

Jai Maharashtra Live TV: 
http://bit.ly/2bCRYJI

For Caller Tunes & Ringtone: 
http://bit.ly/2dogPk9

More from this channel