Bank of Baroda suspends 11 AGM and 60+ staff over BOB World App issue

- Advertisement -

Bank of Baroda has suspended over 60 employees, including 11 assistant general managers (AGMs), for irregularities in its mobile banking app, BOB World. The action is part of a rectification drive based on an audit of the app.

According to people familiar with the matter, most of the suspended employees are from the Vadodara region. The employees have been accused of feeding unauthorized mobile numbers into customer accounts and registering and deregistering them from BOB World without their consent.

One of the suspended employees told that he will only receive one-third of his salary during the suspension period. He said that if he is found guilty, he could be given a punishment posting or even sacked. If he is found not guilty, the bank will give him a compensation salary for the months of suspension.

- Advertisement -

The RBI had suspended onboarding of new customers to BOB World in October 2023, after media reports alleged that the app was tampering with customer accounts. The RBI had said that the action was based on certain material supervisory concerns observed in the manner of onboarding customers onto the app.

Bank of Baroda is expected to submit a rectification report to the RBI in the next two weeks.

- Advertisement -

Share this article...

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Download Budget 2024-25 PDF, Budget important points and Highlights PDF

Download Budget 2024-25 PDF, Budget important points and Highlights PDF

Govt launches internship scheme for youth, Rs.5000 will be given monthly to Youth

Govt launches internship scheme for youth, Rs.5000 will be given monthly to Youth

Good news for Employees! Govt announced to review NPS and make changes in pension scheme

Good news for Employees! Govt announced to review NPS and make changes in pension scheme

Budget 2024: PSU banks will develop in-house capabilities for credit assessment of MSMEs

PSU banks will develop in-house capabilities for credit assessment of MSMEs

Budget 2024: Mudra Loan Limit increased to Rs.20 Lakh

Budget 2024: Mudra Loan Limit increased to Rs.20 Lakh

Income Tax Rate changed, Check new Income Tax Slab in 2024

Income Tax Rate changes, Check new Income Tax Slab

Rs.25 crore Fraud in SBI: CBI Books Private Firm and Directors for Cheating SBI of Rs 25.62 Crore

Rs.25 crore Fraud in SBI: CBI Books Private Firm and Directors for Cheating SBI of Rs 25.62 Crore

Latest News