Why CITI Bank sent one trillion rupees to the public account

Feb Fri 2021 09:14:43

1276 views

Why CITI Bank sent one trillion rupees to the public account

Kathmandu. CITI Bank of America has mistakenly sent 900 million US dollars or 105 billion Nepali rupees to the public account.

The bank was to send ब्याज 8 million (Rs. 930 million) in interest to the accounts of the lenders. However, the bank mistakenly sent a total of मिल 900 million (Rs. 105 billion) to the account of Revlon's creditors.

According to a CNN report, some lenders returned the amount that was misappropriated and others did not. Last August, Citibank filed a lawsuit claiming that it should get its money back. However, the bank has yet to recover डलर 500 million from 10 investment advisory firms.

A US district court has ruled that Citibank cannot recover nearly ५० 500 million in fraudulent transactions.