Checking your bank account to find extra money you never deposited would be a shocking experience. A man from India was certainly surprised to find Rs 11,677 crore had been deposited into his Demat account. That’s a lot of extra cash.
Sadly for Ramesh Sagar, this joy was short-lived as the money was taken back after eight hours. Sagar had been investing in the stock market for the last five to six years. A year ago, he opened his Demat account with Kotak Securities.
“On July 26, 2022, I received Rs 116,77,24,43,277.10 crore in my account, of which I invested Rs two crore in the stock market and booked a profit of Rs five lakh. That very evening around 8:00 to 8.30 p.m, the bank withdrew the amount,” he said.
Sagar said he received a notification from the bank which stated, “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.”
Apparently, Sagar wasn’t the only person that this pleasant surprise happened to. Many other Demat account holders also experienced money being added to their accounts before being removed again.