scorecardresearchMan accidentally receives nearly ₹12,000 crore in his demat account; Here's what happened next

Man accidentally receives nearly 12,000 crore in his demat account; Here's what happened next

Updated: 15 Sep 2022, 05:50 PM IST
TL;DR.
  • IANS said, Ramesh Sagar has been investing in the stock market for the last five to six years. A year ago, he opened his demat account with Kotak Securities. The money was in his account for more than eight hours.
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A man in Ahmedabad received 11,677 crore in his demat account, news agency IANS reported, stating, ‘the bank rectified the error after a 'few hours'. 

However, by the time bank realised and fixed the error, Ramesh Sagar had already invested 2 crore to buy shares. 

He said, “On July 26, 2022, I received 116,77,24,43,277.10 crore in my account, of which I invested two crore in the stock market and booked profit of five lakh. That very evening around 8 to 8.30 p.m, the bank withdrew the amount.”

He said he had received a notification from the bank stating: "There is an issue with margin update in the app. you can continue to place orders, but the margin shown will not be updated. We regret the inconvenience and are working on resolving this at the earliest."

IANS said, Ramesh Sagar has been investing in the stock market for the last five to six years. A year ago, he opened his demat account with Kotak Securities. The money was in his account for more than eight hours.

 

First Published: 15 Sep 2022, 05:50 PM IST