Displaying items by tag: Bank of Baroda

An exposé has shown that the Bank of Baroda made it simple and easy for its agents to steal money from customers’ accounts - and some of them did. The bank’s employees had linked unauthorised mobile numbers to accounts before uploading them onto the bank’s new mobile app. These numbers were of bank staff, managers, guards, their relatives, and bank agents in remote areas. Internal documents show that some of the bank’s agents withdrew tens of thousands of rupees from customers’ accounts. The bank’s head office has asked the managers concerned to do everything necessary to restore the money to the accounts. The  Reserve Bank of India (RBI) has ordered an audit, and has told the bank to stop registering new customers on its app.