The Union finance ministry will meet chief executives of public-sector banks next week to discuss issues related to cybersecurity in the wake of the Rs 820 crore fraud that hit Kolkata-based UCO Bank earlier this month.

       According to sources aware of the development, the ministry has asked banks to review their digital systems and cybersecurity-related measures.

       During the Diwali week, UCO Bank was hit by an IMPS (Immediate Payment Service) fraud in which Rs 820 crore was credited to some account holders of UCO Bank without a debit from any other bank. While UCO Bank has been able to recover Rs 649 crore, or 79 per cent of the amount, the rest was withdrawn by account holders.

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