MUMBAI: Bank of Baroda is understood to have suspended over 50 employees across states, including several at the level of assistant general manager, as part of its action against irregularities in onboarding customers onto its mobile banking app – bob World.
The action follows RBI’s order last week banning the bank from onboarding new customers onto its mobile banking app. RBI issued the order after discovering that staff entered third-party numbers at the back-end to increase the number of registered mobile banking users.
Insiders said that this is the largest disciplinary action undertaken by the bank in terms of its magnitude, based on the number of employees against whom action has been initiated. “Any further onboarding of customers of the bank on the ‘bob World’ application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI, ” the central bank had said while issuing its order.
According to Devidas Tuljapurkar, general secretary, Maharashtra State Bank Employees Federation, banks are experiencing stiff competition and are engaged in a rat race, setting ambitious targets. To achieve these goals, they are, at times, mistreating field staff without providing adequate resources and infrastructure.
The action follows RBI’s order last week banning the bank from onboarding new customers onto its mobile banking app. RBI issued the order after discovering that staff entered third-party numbers at the back-end to increase the number of registered mobile banking users.
Insiders said that this is the largest disciplinary action undertaken by the bank in terms of its magnitude, based on the number of employees against whom action has been initiated. “Any further onboarding of customers of the bank on the ‘bob World’ application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI, ” the central bank had said while issuing its order.
According to Devidas Tuljapurkar, general secretary, Maharashtra State Bank Employees Federation, banks are experiencing stiff competition and are engaged in a rat race, setting ambitious targets. To achieve these goals, they are, at times, mistreating field staff without providing adequate resources and infrastructure.