Parijat Saha, from the town of Balurghat in West Bengal state, said he had checked his State Bank of India account online last Sunday to confirm reception of a 10,000 rupee ($200) interest payment.
"Instead I saw this astronomical amount," he told AFP by telephone.
The account showed a balance of 496 billion rupees.
After recovering from the initial shock at becoming an overnight billionaire - at least on paper - Saha, 42, said he immediately called a friend he knew at the bank to point out what was obviously a major accounting error.
The State Bank of India said it was not immediately clear how the amount came to be registered in Saha's account.
"We are trying to ascertain what went wrong," said local branch manager Subhashish Karmakar.
"We have informed our regional headquarters in Kolkata and national headquarters in Mumbai," he said.
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we should make stun at least 5 lecturers by 20b $ bank balance
@ Raj - you are right ...but unfortunately the global banks are highly rated as compared to their nation's economy and debt size. Indian banks are comparatively much secured and maintains the object of welfare by considering their profits as surplus. In fact one prominent banker even said " We would love to acquire an Indian bank at this point of time " . Interestingly, none of the banks were available for sale, since they are now contemplating to establish global footprints with their moto of welfare !!
How many banks in the world have $10 billion spare cash. Indian banking system is very strong and profitable.
strong text New billionare in india ad on in fobes magazine.
Let's Zafar Qureshi and Tariq Khosa to India to investigate