The people cited above, speaking on condition of anonymity, said most of the action was centered around the Gujarat branch. This comes after Bank of Baroda conducted an internal investigation into allegations that some of its employees were fraudulently linking mobile numbers to customer accounts to increase the app’s active user base. . The phone number did not belong to the customer and was used to avoid logging.
According to the first person cited above, the internal investigation aimed to find discrepancies in the customer onboarding process and see if employees were violating any rules. This week, multiple branch employees received notices to end their administrative leave, the person said.
The Reserve Bank of India on October 10 banned new customers from registering on the Bob World application until further notice.
“Although the bank has already taken remedial steps to address the RBI’s concerns, we have initiated further steps to fill the remaining gaps identified and we are working closely with the RBI to We will address their concerns as soon as possible and work to their satisfaction,” the bank said. Baroda said after the regulator’s announcement.
The bank said it did not expect the regulation to have a material impact on its overall business and growth plans.
In July, Al Jazeera published a report in collaboration with the Reporters Collective, citing a whistleblower who said employees were pressured to collect customer numbers on a mobile app. According to the report, branch employees used a list of bank accounts that did not have mobile phone numbers linked to them and linked their contact numbers or the contact numbers of their acquaintances. Then use these numbers to log into your mobile app and register as a new customer onboarded to the app.
The report claimed that BoB’s Baroda branch had the highest number of such frauds.