Citibank transfers over Rs 3,600 crore by mistake, the court says transactions not subject to revocation

In what could be termed as the biggest mistake in the banking history, Citibank transferred USD 900 million to a group of lenders, only to be later told by the US court that the transaction was "final and complete transactions, not subject to revocation." A US federal judge on Tuesday said Citigroup Inc is not entitled to half a billion dollars of its own money that it mistakenly wired, as per report.