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SBI transfers 100 crore to wrong account

Wednesday, September 27, 2017 • Tamil Comments
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In a bizarre incident of Bank operations, SBI branch of Ranchi mistakenly transferred Rs.100 crore to a wrong account. The money was meant for midday meal scheme account, however landed to a construction company. While the efforts are underway to recover the amount, the bank has been facing partial success with only 70% of the money transferred back to the midday meal account and the rest still with the construction company.

The responsible officer for this major goof up has been suspended and an internal enquiry has been launched as per bank officials. The money remained in the construction company's account from August 5th to September 19th, the problem came into picture when Bank did not have enough fund to release money for the next quarter.

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