Police reached the spot and stopped customers from further withdrawing cash. (Representational)
A snag in an ATM of Axis Bank led to some customers receiving five times the money they had sought to withdraw.
At least two customers of the bank received five times the amount they had entered in the interface of the ATM, situated in Vijay Nagar in CIDCO area, last night, a bank official said.
More than Rs 2 lakh were withdrawn from the ATM before the malfunctioning came to light, said assistant manager Praveen Bhise of Axis Bank.
After fresh cash was loaded in the ATM yesterday afternoon, a debit card holder who sought to withdraw Rs 1,000 received Rs 5,000.
Another customer, Amol Golait, received Rs 20,000 instead of Rs 4,000.
Mr Golait informed the bank, after which Mr Bhise rushed to the ATM and alerted Ambad police too.
Police reached the spot and stopped customers from further withdrawing cash, Mr Bhise said.
The bank will probe the malfunctioning, and also check, from the CCTV footage and card usage data, who else received extra cash and recover the excess money from such card-holders, he added.
In a statement, an Axis Bank spokesperson said, "The incident was an isolated one resulting from an operational error by the concerned cash replenishment agency (CRA). The matter has been rectified and there is no loss either to the customer or the bank.