Teenager becomes instant billionaire - for a while

August 27th, 2008 - 12:44 am ICT by IANS  

Hapur (Uttar Pradesh) Aug 26 (IANS) For a while, the teenager could not believe his eyes when he checked his passbook: it showed his account balance at Rs.98,57,60,24,253. He had overnight became a billionaire - at least till the bank corrected the error.Pushkar Agarwal, 18, had gone to the Shankar Ganj branch of State Bank of India in Hapur to deposit Rs.400 in his savings account.

“I wanted to have a cheque book issued for my account, for which the bank asked me to maintain a minimum amount of Rs.1,000 in my account. For that, I had gone to the bank to deposit Rs.400,” he said.

Pushkar then handed over the passbook to a bank officer to make an entry for the deposit.

“I took the passbook and returned home without checking the fresh entries. Next day I went to the bank again to deposit Rs.100 in my account to take the figure to Rs.1,000. But the bank asked me to withdraw Rs.100, which I could not understand.

“Two days later, when I saw my pass book, I was, at first, taken aback to see Rs.98,57,60,24,253 as balance in my account. I was shocked and my mind went numb for a moment. So much money, all in two days, how could it be, I thought. I immediately told my father about it. He, too, was shocked,” Pushkar told IANS.

When he showed the entry to the branch manager, it turned out be a computer mistake.

Branch manager Chandrashekhar said: “It was a mistake on the part of our cashier but that inflated money could never have been witdrwan since it was blocked through our internal systems.

“Pushkar’s account was dormant as he had not operated it for 10 months. The figure shown in his account was not the balance money but an internal code of the bank. In case of dormant accounts, the computer does not accept fresh entries and sends them to our internal system from where the retrieval has to be done after checking the whole process. In this retrieval, the mistake might have occurred and a false number printed in the passbook,” he said.

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