The RBL Bank has taken legal action against its credit card department’s national head, along with 10 other senior officers from various offices in Gurugram, Mumbai, Rajkot, and Ahmedabad. The bank has also included their unknown associates in the case. The allegations state that these individuals defrauded the bank of Rs 12.02 crore (approximately $1.6 million).
FIR Registered Based on Complaint by RBL Bank Employee
Following a complaint filed by Vikrant Kadam, an assistant deputy president in the vigilance department of RBL Bank, the NM Joshi Marg police registered a First Information Report (FIR) against the national head of the credit card department, Rudhir Bhupinder Sarin, and 10 others. The complaint alleges that between March 2021 and March 2022, the accused officials collaborated with direct selling agents to deceive the bank. They allegedly accepted kickbacks and caused a wrongful loss of Rs 12.02 crore to the bank.
Accused Officials Allegedly Siphoned Off Money
According to the complaint, the accused bank officials conspired with direct selling agents to sell credit cards and received excess fees from the bank. They also allegedly sold credit cards in the names of non-existing or bogus agents. The complainant alleges that the accused accepted kickbacks of Rs 4.29 crore from the direct selling agents, resulting in the loss of Rs 12.02 crore to the bank.
Investigation Reveals Massive Fraud
The fraud came to light on March 23, 2021, when the chief vigilance officer of the bank received information from a whistleblower. The bank conducted a thorough investigation and found that the named bank executives from Mumbai, Gurugram, Rajkot, and Ahmedabad offices were involved in the fraud. The accused officials allegedly accepted kickbacks directly into their and their relatives’ bank accounts.
Legal Action and Further Investigation
The NM Joshi Marg police have booked the accused officials under various sections of the Indian Penal Code (IPC), including criminal conspiracy, cheating, criminal breach of trust, forgery, and falsification of documents. The case is likely to be transferred to the Economic Offences Wing of the Mumbai police for further investigation.
