Fund Transfer Error: More than two months ago, a family from Miryalaguda lost ₹6 lakh when they transferred tuition funds to the incorrect U.S. bank account.
Dongari Chakravarthi is enrolled in the University of North Texas’ Advanced Data Analytics program, according to Times of India. For his term fees, his family sent $7,100 (₹5,99,174).
On August 27, his older brother Dongari Pavan transferred the money from SBI’s Miryalaguda branch. However, an account number error caused the funds to be sent to the incorrect person, making it difficult for the family to get the money back. “Pavan said, “My parents are farmers. It was with great difficulty that we managed to secure a loan for the money needed to pay my brother’s fees.”
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SBI was unable to assist
After the event, Chakravarthi visited the bank to find out who received the money that had mistakenly been taken from his account. However, the bank refused to share any information about the account holder, citing privacy concerns. Meanwhile, the university has been pushing him to pay his outstanding fees.
In the meantime, Pavan reached out to representatives at the SBI branch in Miryalaguda for help in identifying the account holder who received the money. According to reports, the staff informed him that the beneficiary bank in the US would need to provide that information.
“Despite numerous attempts to get a resolution from the bank, we have not received any favourable response. The situation is stressful for us,” Pavan told TOI.
On August 30, Pavan promptly brought the issue to SBI Miryalaguda’s attention and received an acknowledgement from the bank. 64 days have passed since the issue first appeared. We have not been able to get our money back, despite my repeated appeals to the authorities of both banks,” he continued.
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On October 5, SBI responded to Pavan’s “X” post regarding his issue by advising him against sharing his banking or personal information online for security reasons.
