Nagpur: Khaparkheda, a town just 17 kilometres from Nagpur, became the scene of an unexpected bonanza on Thursday, September 5, when an Axis Bank ATM began dispensing more money than requested. This marked the second such occurrence of the anomaly at this particular ATM, which started malfunctioning on Wednesday night and continued until around 12:30 pm the next day, when local police stepped in to halt the cash flow.
Residents were quick to take advantage of the malfunction. Many rushed to the ATM, some even borrowing cards from friends and family to make multiple withdrawals. A few individuals reportedly transferred the extra money back into their accounts via online banking, only to return to the ATM to withdraw again.
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Thursday 09 Jan. 2025
The glitch was traced to an error where Rs 500 notes were mistakenly loaded into the tray meant for Rs 100 notes, causing the ATM to disburse higher amounts than requested. This incident followed a similar malfunction on June 15, 2022, when the same ATM dispensed Rs 2,000 instead of Rs 1,000.
Axis Bank, whose ATM services are outsourced to a private company, has initiated a review of the situation. The bank has assured the public that the issue is being addressed and appropriate measures will be taken to prevent such occurrences in the future.
The unexpected windfall has raised concerns about the potential recovery of excess funds withdrawn, though no official statement has been made regarding whether customers will be required to return the extra money.
