In an unusual incident in the Arai police station area of Kishangarh, Ajmer, Rajasthan, Rs.16 lakh was mistakenly credited to the account of a farmer named Kanaram Jat. The money, intended for New India Insurance Company as a crop insurance premium, was accidentally transferred to Kanaram’s account by the Bank of Baroda.
When Kanaram discovered the unexpected amount in his account, he immediately withdrew Rs.15 lakh over three days and used it to repay his outstanding loans.
Bank’s Mistake Leads to Chaos
The bank realized the error only after more than a week, causing a panic among its staff. On investigating, they discovered that Kanaram had already spent the money.
Bank Manager’s Statement
Jitendra Thakur, the Bank of Baroda manager, explained that the funds were credited on December 31. By the time the bank discovered the mistake on January 10, Kanaram had already withdrawn Rs.15 lakh in three installments from January 2 to January 4.
When bank officials contacted Kanaram to request the return of the money, he refused, claiming it was already spent to clear his debts.
Legal Action and Recovery Plans
With the farmer refusing to return the funds, the bank approached the local police for assistance. A formal complaint was filed at the Arai police station.
Bank’s Next Steps
The manager stated that Kanaram’s Kisan Credit Card details and documents of his 16 bighas of land are with the bank as collateral. If he does not return the money, the bank plans to recover the amount by auctioning his land.
Police Investigation
Arai Police Station Officer Ramswaroop Jat confirmed that the matter is under investigation. Statements from the farmer and bank officials are being recorded to resolve the case.
Key Highlights of the Case
- Error by Bank: Rs.16 lakh was accidentally credited to Kanaram Jat’s account instead of New India Insurance Company.
- Farmer’s Actions: Kanaram used Rs.15 lakh of the amount to repay his loans within three days.
- Bank’s Recovery Efforts: The bank has filed a complaint and may auction Kanaram’s land if he fails to repay.
- Police Investigation: The police are investigating to determine the next steps.
This incident highlights the importance of double-checking large transactions to avoid such costly errors.
