Everything About UCO Bank ₹820 Crore Mysterious Transactions

The core of the matter is a staggering sum of ₹820 crore, a huge amount of money that mysteriously appeared in the bank accounts of over 41,000 UCO Bank customers. This unexpected event took place between November 10 and 13. 

This money was transferred through the Immediate Payment Service (IMPS). A total of 8.53 lakh transactions were involved, coming from around 14,000 account holders of various private banks.

Here’s where things take a twist. Normally, when money is transferred, it’s debited from one account and credited to another. But in this case, the original accounts from which the money was sent showed no debits, meaning the money didn’t seem to leave these accounts. Despite this, the funds still appeared in the UCO Bank accounts.

Once these funds landed in the UCO Bank accounts, several customers withdrew them. This action has raised concerns, as it suggests that the money might have been used even though it was not meant to be in their accounts.

UCO Bank, upon discovering this anomaly, took immediate action. They approached the CBI (Central Bureau of Investigation), India’s premier investigating agency, to report the incident. 

The complaint specifically mentioned two support engineers working with UCO Bank and other unknown individuals. The bank suspects these engineers played a key role in these suspicious transactions.

The CBI has taken this matter seriously. They have started a widespread investigation, conducting searches in 13 different locations, including cities like Kolkata and Mangalore. 

These searches are part of their efforts to unravel this complex web and understand how such a large sum was moved without proper authorization.

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Regarding the bank’s involvement, it’s important to note that UCO Bank itself reported the incident. This action indicates that the bank is not complicit but rather a victim of a potential financial fraud or technical glitch.

As of now, the situation is evolving. The CBI’s investigation is ongoing, and they’re working to figure out the exact nature of these transactions, who’s responsible, and how the funds were transferred without the usual debits.