Bank loses Rs 25 lakh as Rs 500, 2000 'swapped' at ATM

hdfc-reuters Representative image | Reuters

Customers who visited the HDFC ATM at the Bardih Bazaar in Jamshedpur were in for a treat on Thursday. Those who withdrew amounts from the ATM received four times the amount they needed. If they punched in Rs 1000, they received Rs 4000 and those who needed Rs 20,000 received Rs 80,000.

All thanks to a mistake by an employee of the private cash agency which fills money in ATMs. The employee had accidentally filled the tray meant for Rs 500 notes with Rs 2000 notes. When news of the generous ATM spread, there was a rush to visit the branch and within 12 hours it was left empty.

It was only after an investigation by the bank authorities that the mistake was realised. The bank lost around Rs 25 lakh due to the costly error.

Officials were able to find those who withdrew extra cash and requested them to give the extra cash back, but many refused, HDFC vice president Rajeev Banerjee said.

The agency can be held responsible for the lost cash according to the contract between the agency and the bank. Authorities are planning to continue their efforts to persuade those who received extra money.