Man Receives Rs 11,677 Crore In Account, His Riches Were Short Lived
NDTV
Mr Sagar has been a regular investor in the stock market for the last five to six years.
A man from Ahmedabad, Gujarat became a crorepati but only for a short while. Ramesh Sagar, a holder of a Kotak Securities Demat account received Rs 11 crore on July 26, 2022. Although the money was taken back in a couple of hours, Mr Sagar during that period made investments of around 2 crores in the stock market and made a profit of Rs 5 lakh.
Mr Sagar has been a regular investor in the stock market for the last five to six years. He opened his account a year back with Kotak Securities and invested in many stocks. Not just Mr Sagar, there were other Demat account holders too who hit a jacket that day.
The man received a notification from his bank which stated that there has been an issue with margin update in the app, you may continue to place orders but the margin shown will not be updated, according to reports. The bank said that it regrets the inconvenience and is trying to resolve the issue. The money was there in his account for eight hours before the bank rescinded the money.
This is not the first time a bank glitch took place. Last year, two children in a Bihar village became richer by nearly a thousand crore rupees, albeit momentarily, thanks to a technical glitch which was immediately rectified by the bank concerned.
