Rs 100 cr VANISH from SBI!

New Delhi: India's top bank SBI has done major blunder or could be said irresponsibility at work, when it wrongly transferred 100 crores which were actually allocated for mid-day meal (MDM) in Jharkhand, but were transferred to a construction company, according to a report published in the "The Indian Express".

According to the report, wrongly transferred money stayed in the wrong account for a period between August 5 and September 19, which was rerouted to around seven or eight other accounts of the company. SBI has recovered the 70% of the money, and bank is making its best efforts to get the rest back. 

An internal inquiry has been launched and an official responsible for it had been suspended, SBI deputy general manager (Ranchi zone) D K Panda said.  

The official works with Hatia Branch of SBI. A formal complaint has been lodged with CBI unit in Ranchi.