Bank of Baroda Suspends 11 AGMs Amid Digital App Controversy

Bank of Baroda

Public-sector lender Bank of Baroda (BoB) has taken strict measures, suspending more than 60 employees, including 11 Assistant General Managers (AGMs), as part of a rectification drive following an audit of the BOB World app case. The AGMs, who usually hold key positions like area managers and zonal heads, have faced suspension due to serious irregularities identified during their tenure. The bank, in its suspension letters, acknowledged that the employees committed acts of feeding inaccurate numbers into customer accounts and unauthorized registration and deregistration of the BOB World application without customer consent.

The bank emphasized that these actions warranted a departmental inquiry and, prima facie, justified the suspension of the employees from service. The rectification drive is set to continue, with most of the suspended individuals hailing from the Vadodara region. The ongoing drive may extend to other zones like Lucknow, Bhopal, Rajasthan, and parts of eastern Uttar Pradesh.

The suspended employees face uncertainty during the suspension period, receiving only one-third of their salary. The bank has the authority to impose punishment postings or terminate employment based on the outcomes of the inquiry. BoB is expected to submit a rectification report to the Reserve Bank of India (RBI) in the coming weeks, following the RBI’s directive to halt new customer onboarding on the BOB World app due to supervisory concerns. The suspension move aligns with BoB’s commitment to addressing issues and ensuring compliance in its digital banking operations.

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