Kiran Kumar 04 January 2024
I had wrongly done a transaction. But the account number and IFSC Code combination is incorrect. That means I had entered account number of Mumbai bank of baroda and IFSC code of tamilnadu branch. Usually when account number does belongs to branch money will not get deposited. In my case it got deposited.
Can I appeal in RBI ?
Is bank liable for processing a incorrect payment
Pls help
P. Venu (Advocate) 04 January 2024
Have you taken up the issue with the Bank concerned?
T. Kalaiselvan, Advocate (Advocate) 04 January 2024
You may first approach the bank for this incorrect transaction and request for reverting the amount back to your account.
If there's no proper response then you can plan for further legal action
Kiran Kumar 05 January 2024
Okay sir Thanks for your response sir
Shruti 22 April 2024
IFSC code is meaningless. It's just a formality. There are other things that are meaningless entries in a banking transaction that I am not elaborating here. So be careful.
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