Kotak Mahindra Bank losts Rs 8 Lakhs due to dispensed Rs 500 instead of Rs 100 notes from ATM :- Hyderabad: Every one can see a long queue in front of every ATM across the country after the Demonetisation move. After the move of Demonetisation, ATMs had remained dispensing limited currency notes per day.
In an incident happened on Saturday that a Kotak Mahindra Bank ATM in Rajiv Gandhi International Airport in Shamshabad had dispensed new Rs 500 notes instead of Rs 100 notes.
By getting Rs 500 note instead of Rs 100 note, the people cheered. As per the report that in an hour as much as Rs 8 lakhs was withdrawn from the Kotak Mahindra Bank ATM Machine.
The authorities came to know about the cash dispensing after seeing the rush. Immediately, they informed the bank officials who have rushed to the airport at around 9 pm and temporarily shut it down.
An official from the Kotak Mahindra bank said that they mistakenly kept Rs 500 denominations in the Rs 100 slot. We are verifying the matter and shall recover the excess amount withdrawn by customers as per the database after sharing it with the concerned customer’s bank. The ATM maintenance agency refused to shoulder the blame, saying that the mistake was made by engineers who recalibrated the machine.