Karnataka Bank reports suspicious cross-border UPI transaction of Rs 18.87 cr to RBI

Karnataka Bank Ltd discovered deficiencies in its reconciliation process for cross-border UPI transactions, leading to a net loss of ₹18.57 crore. The bank has reported the issue to the Reserve Bank of India and implemented enhanced control measures to prevent future occurrences.

​Karnataka Bank Ltd discovered deficiencies in its reconciliation process for cross-border UPI transactions, leading to a net loss of ₹18.57 crore. The bank has reported the issue to the Reserve Bank of India and implemented enhanced control measures to prevent future occurrences.