‘Bank error’ puts ₹999 crore in this Bengaluru coffee shop owner’s account; Here's what happened next: Report

Bengaluru coffee shop owner Prabhakar S discovered ₹999 crore in his wife's account. Following the deposit, his account was frozen, preventing transactions.

A Bengaluru resident, identified as Prabhakar S, who owns a small coffee shop at the Indian Institute of Management, Bengaluru, had an ordinary weekend — until he checked his wife’s savings account with the Central Bank of India and made a shocking discovery. To his disbelief, a massive ₹999 crore had been deposited into the account, a sum far beyond anything he could imagine, the Mint reported.

Within 48 hours, his account was frozen, and the massive deposit disappeared. To make matters worse, he could no longer carry out basic transactions.( AFP PHOTO)

At first, Prabhakar thought it was a mistake that would be quickly fixed, but what followed was far from simple. Within 48 hours, his account was frozen, and the massive deposit disappeared. To make matters worse, he could no longer carry out basic transactions, the report noted.

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Prabhakar spoke to the publication and said he couldn’t make simple payments for his business. Prabhakar’s attempts to resolve the issue were met with indifference from the bank. He visited in person, sent emails, and even reached out for answers, but the silence continued. As a small business owner, Prabhakar relies on daily transactions to keep things running smoothly. With his account frozen, he was unable to pay for supplies or pay vendors, putting his entire livelihood at risk, the publication added.

“And then, instead of helping, they are asking me details like, where is your house, where are you? I don't know what actually happened. All I know is that I can't make any transactions now. They have not even given any notice or date when I will be able to transact again. I told them, whatever you do, you have to release the amount. I have to pay some vendors. But they don’t seem to be responsible for anything,” he said, as quoted in the publication.

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Financial experts suggested that the massive error was likely due to a technical glitch, which will require careful investigation. Harshad Chetanwala, co-founder of MyWealthGrowth.com, advised Prabhakar to escalate the matter to the Reserve Bank of India (RBI) if the issue isn’t resolved soon.

For now, Prabhakar remains in limbo, hoping that the bank will fix the error and allow him to resume his business, the report further stated.