RBL Bank sues the National Head of its credit card department and ten other people
By MYBRANDBOOK
For allegedly robbing the bank of Rs 12.02 crore, the RBL Bank has filed a fraud case against Rudhir Bhupinder Sarin, the national head of its credit card department, and ten other top personnel from their offices in Ahmedabad, Rajkot, Mumbai, and Gurugram, as well as their unidentified associates. The accused bank employees colluded with direct selling agents and forced the complaint bank to pay them an excessive charge in order to syphon off money under the guise of selling credit cards from their bank.
According to the complaint, between March 2021 and March 2022, the accused appointed agents for direct selling of the bank's credit card. “The accused bank officials, under the pretext of selling credit cards of their bank, connived with direct selling agents and made the complainant bank pay them an excess fee to siphon off money. The accused, in order to siphon off money, also allegedly sold credit cards in the name of non-existing or bogus agents,” the complainant states in the FIR.
The accused persons allegedly accepted kickbacks of Rs 4.29 crore from the direct selling agents, causing a wrongful loss of Rs 12.02 crore to the bank, the complainant alleged in his statement to the police.
The entire fraud surfaced on March 23, 2021, when chief vigilance officer of the bank Durgadas Rege received inputs from a whistleblower about executives from Mumbai credit card sales unit— Ansari Wahid and Sumit Jaiswal—accepting kickbacks from direct selling agents.
After the information was found to be true, the bank conducted a thorough investigation and found that the named bank executives from Mumbai, Gurugram, Rajkot and Ahmedabad offices carried out the massive fraud and accepted kickbacks directly in their and their relatives’ bank accounts, states the FIR.
“We have booked the accused Sarin and other bank executives under 15 sections of the IPC for criminal conspiracy, cheating, criminal breach of trust, forgery, falsification of documents, etc. The case is likely to be transferred to the Economic Offences Wing of the Mumbai police for further investigation,” said an officer from the NM Joshi Marg police station.
BREAKING NEWS
TECHNO TRENDS
Parliamentary panel pulls up IT ministry for underutilizing se
A parliamentary panel on Communications and IT has pulled up the MeitY fo...
GST Council likely to reduce tax on food delivery to 5%
The Goods and Services Tax (GST) Council is reportedly considering a prop...
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
E-Magazine
TECHNOTAINMENT
Pushpa 2 leaks online after recording highest pre-sales in Ind
Pushpa 2, which is one of the most anticipated films of the year, has had a
Eloelo teams up with Elvish Yadav for India's biggest digital
Eloelo, India’s leading platform for live entertainment and creator-drive
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
EXIDE INDUSTRIES LTD.
BPE INDIA PVT. LTD.
VERSA NETWORKS INDIA PVT. LTD.
NETWEB TECHNOLOGIES INDIA LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SUNIL BHARTI MITTAL
Sunil Bharti Mittal is the Founder and Chairman of Bharti Enterprises,...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
ICONS OF INDIA : SACHIN BANSAL
Sachin Bansal is an Indian entrepreneur. He is best known as the found...
PARTNER SPEAKERS
PSU
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
