UCO Indian bank credited 820 crores in to the bank account holders and 649 crores only return back

Nov Sat 2023 06:32:01

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UCO Indian bank credited 820 crores in to the bank account holders and 649 crores only return back

Kathmandu. A Indian Bank UCO is in big trouble because of its small mistake. India's bank UCO bowed down and deposited 820 crore rupees in the accounts of common people. And the 8200 crore bank that was bent has not yet been brought back. So far, the bank has managed to bring back only 649 crore rupees. Which is only 79%.

820 crore erroneously credited to UCO Bank account holders. As much as Rs 820 crore were credited to account holders of UCO Bank in what the lender described as an erroneous transfer and has initiated a process to reverse the same.

The bank has recovered Rs 649 crore or 79 percent of the amount erroneously credited to some accounts of the bank via Immediate Payment Service (IMPS).

By taking various proactive steps, the bank blocked the recipients' accounts and has been able to recover Rs 649 crore out of Rs 820 crore which is about 79 percent of the amount.

The state-owned bank is yet to clarify whether this technical glitch was due to human error or a hacking attempt. The bank has initiated requisite actions to recover the balance amount of Rs 171 crore, it said, adding the matter has also been reported to the law enforcement agencies for necessary action.