Deposit manipulation by bankers
You may have gotten a call from your banker to help by moving some money in your bank account at month end and some even saying sir you can move it out in the first week of the coming month.
The entire system does this and it is a scam as the incentive calculations are done basis month end balance.
HDFC among all banks caught it. In many others its still persisting. Regulator RBI must be activated to act against this. The whole chain up to senior management of banks are incentivised to make this scam work for them to get their incentive.
This needs fix. Couldn’t think of a better place than Local Circles so shared. more
The entire system does this and it is a scam as the incentive calculations are done basis month end balance.
HDFC among all banks caught it. In many others its still persisting. Regulator RBI must be activated to act against this. The whole chain up to senior management of banks are incentivised to make this scam work for them to get their incentive.
This needs fix. Couldn’t think of a better place than Local Circles so shared. more
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All are hand in glow after. Digitalization of banking system the india tradition of honesty integrity and accountability and transparency is totally lost and no reply from bankers if we rise any issue against the staff more
May 02
My account was hacked as I don't use any digital mode of activities only traditional banking cheque book system raised my concerns to bankers head office legal team cybercrime and rbi no action are we trust bank official more
May 02
people who are close to customers in banks resort to this and tell them after a week they can transfer it back. more
May 01
This is not new and it happens in almost every bank. I have seen this over three decades and I see it today as well. This is done to shore up the Balance Sheet especially at times when the reporting period is around the corner. Usually, this happens based on diktats from the bosses. It may not directly impact anyone's incentives etc., but temporarily helps in ensuring more presentable numbers. No account holder can be forced to compromise and yield to any such accommodation putting oneself at a loss. You will only help if it is harmless and causes no financial loss to you. more
May 01
