Hackers infiltrated People's Bank systems and carried out financial fraud worth more than Rs. 65 crore.

Original review summary

The review says People’s Bank attributed Rs. 656 million in overpayments to an exchange-rate conversion error in its foreign remittance system, not hacking or fraud. The bank said the error occurred between May 2023 and March 2026 and that recovery of the excess payments had begun.[S1]