Legal Question in Banking Law in India

Hi, I want to ask a question related to banking sector, I have two account with ICICI Bank, one is normal saving account and other is direct account, One day on the month of February, I was making transaction of Rs. 4000 from my saving account to direct account, during transaction process I got massage of "System under maintenance, please try again" I again tried I got the same massage, so finally I tried after 5 to 10 minutes, this time transaction was sucessfull, after this I logout and went to bed. Next day on evening I checked my account balance and I found that I got Rs. 12000 instead of Rs. 4000, I thought this might due to technical error, I left the money as it was, next day I again checked the balance and It was same(Rs. 12000, I have not got any call from bank side, therefore I withdraw my money, after a week I got call from ICICI Bank regarding this, I said them I would return your money. After this they never tried to call me again, therefore I didn't return their money now after 3 months they are asking for it. So I just want to know if I don't return their money what legal action they take on me, however there was zero fault from my side, please help me out

Rajesh Kumar

Asked on 5/02/13, 10:00 am

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP


Dear Rajesh,

You are liable to return the excess money back to ICICI Bank and you should return it back immediately, irrespective of whether the bank officials follow up for it or not.


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Answered on 5/03/13, 4:30 am

Mr Rajesh...

since excess of money has been givin by bank so you need to return that but send a letter stating that you are ready to retuen but need some time to do so as you have used the money thinking yours... this will not creat any liability on you and you can retuen when you feel so... do keep the receiving copy....for any legal query mail me at [email protected]

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Answered on 5/05/13, 5:54 am

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