General Studies · Legal and Regulatory Aspects
A Paying Banker mistakenly credits the wrong customer's account (Account B instead of Account A) during an internal fund transfer, and the amount is immediately withdrawn by Customer B. The bank seeks to recover the funds from Customer B. The bank's action is governed by which section of the Indian Contract Act, 1872?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Section 64
- 2Section 72✓
- 3Section 70
- 4Section 20
Correct answer
Section 72
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