news . TekChakra.com

In an unconfirmed story and report, a senior level data entry employee at ICICI mistakenly entered two extra zeros at the end of some transactions for one full hour, before other senior employees caught on and shut down the systems. This act cost ICICI Rs 30 crores initially, and a meeting was called immediately to discuss how to reverse the mistake. A solution was found, but by the time it was implemented only Rs 29 crore worth of inaccurate transactions could be fixed and reversed, as many account holders probably withdrew the excess and incorrect deposits - leaving the bank short changed by around Rs 1 crore. It seems this is not the first time this incident has happened at the bank.

— Vishal L    Filed under: Uncategorized