Summary of this article
Kotak Bank denies crediting Rs 1 septillion trillion to any account
Bank confirms no system glitch; all operations functioning normally
Customers urged to verify account details only via official platforms
A recent screenshot went viral, stating a Noida resident discovered more than Rs 1 septillion trillion deposited into his late mother's savings account in Kotak Mahindra Bank. This screenshot shows that a 37-digit number has been credited to the account.
As per these reports, the man had gone to the bank to view his late mother's account and reportedly saw this unusually huge sum in the balance. There are some variations of the story that also stated the account was frozen and that the Income Tax Department had been alerted.
Kotak Bank Reacts
Kotak Mahindra Bank has officially rebutted the allegations. The bank released a statement that no such credit had taken place and there was no technical fault in its systems.
The bank stated that there is no glitch in their system and no such transaction has occurred; their systems are working normally.
The bank declined to comment about the identity of the person involved or the exact branch, but said the reports were inaccurate and based on no existing records.
Advice to Customers
The bank also urged customers to crosscheck their account information only on such authorised websites like the Kotak Mahindra Bank mobile application or netbanking facilities. It advised against using screenshots or social media reports without verification.
Kotak also asserted that its systems are secure and all customer account information is safe. It requested its customers not to propagate unverified information, which would lead to unwarranted anxiety.
Bank Systems Operating Normally
The bank again asserted that the viral allegations are untrue and are not backed by any transaction history in their system. There has been no official investigation or correction, as no abnormal credit had taken place.
The bank's official statement read as follows: "Media reports suggesting an unusually large balance in a customer's account are incorrect. In light of these reports, we encourage customers to check their account details using Kotak's mobile banking app or net banking platforms."
