Banker - Business Collusion
I recently came to know of a dirty collusion that exists between some people/business and bank officials.
These people collude with bankers and the banker shares with them the financial position (credit, debit balance) of whatever account they want.
They use this information as intelligence in various ways including jeopardizing their competitions business.
Sometimes you go to your supplier saying, we cant pay you and he says no ma'am we know you habe just gotten a receipt of X.
The senior leaders at banks have no culture/discipline of information protection and their are no processes. Its an open for all game.
Ministry of Finance needs to get on this immediately so their is Government action against bank CEO/CFOs if their bank clerks/officials are found leaking information. more
These people collude with bankers and the banker shares with them the financial position (credit, debit balance) of whatever account they want.
They use this information as intelligence in various ways including jeopardizing their competitions business.
Sometimes you go to your supplier saying, we cant pay you and he says no ma'am we know you habe just gotten a receipt of X.
The senior leaders at banks have no culture/discipline of information protection and their are no processes. Its an open for all game.
Ministry of Finance needs to get on this immediately so their is Government action against bank CEO/CFOs if their bank clerks/officials are found leaking information. more
Viewed by 1495
View all 34 comments Below 34 comments
May be few people in the Banks are doing mischief, but they are basically law abiding employees. Specific cases should be brought to the notice of the bank management or even to the knowledge of RBI for taking action. more
Jul 14
I think we are all forgetting that banks are not reducing interest rates in line with RBI. What they are doing is keeping, say, our home loan rates high (rapaciously increasing tenures at will) to compensate losses with businesses & fat salaries. Whether they are held responsible or not, let us remember that it is WE, the common citizen who is losing out, be it low SB account interest, low FD interest, high Home Loan tenures or high borrowing rates. It is not lower employees of banks, but top management who should be held to task. The Finance Ministry is useless, and is more given to speeches than citizen-pro action. more
May 18
Black sheep are there in all walks of life. So let us not call all bankers corrupt. There enough regulations in place, but human mind always finds a way to bend/circumvent the rules. In the recent instance in TN, it is not very difficult to trace out from where such large withdrawals were made. Some time back we read a report of how large sums of money were deposited into an account. Though there are measures to automatically trigger alerts, the branch manager ha overridden to disable this. Till today no one knows what action has been taken against him. Dismissal from service and criminal prosecution will show the governments intention to tackle corruption in right earnest. Col (Dr) A P Gupta (Retd) Secunderabad more
May 18
