A fat-finger error caused Karnataka Bank to transfer ₹1 lakh crore to a non-operational account on August 9, 2023, which has now drawn RBI's attention, Moneycontrol reported. The transaction was reversed within three hours, with RBI raising concerns about why the matter was escalated to the management after six months. RBI is also questioning Karnataka Bank over its internal controls.
short by
Ashley Paul /
06:22 pm on
12 Nov