Bank glitch makes Gujarat man a crorepati for all of eight hours

For eight hours, one Ahmedabad citizen was a crorepati. Ramesh Sagar, the holder of a Kotak Securities demat account, checked his statement to see that he had received just over Rs 11 crore on July 26, 2022.

The money was rescinded merely hours later, but during that period Sagar made his investments, netting a profit of Rs five lakh.

"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 profit of Rs five lakh. That very evening around 8 to 8.30 p.m, the bank withdrew the amount," Sagar told IANS.


The glitch seemed to have happened to multiple account holders, with many hitting an unannounced jackpot that day.

"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," said a notification from the bank.