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Following an internal examination, the state-owned Bank of Baroda has suspended a number of workers in the continuing "Bob World" mobile banking application issue.
Although the precise number of suspended employees is still unknown, it is known that the majority of them were assigned to Bank of Baroda branches in Gujarat and other northern and northwesterly parts of India.
The charges of tampering with client accounts to artificially boost registrations on the bank's mobile app, "Bob World," are directly tied to the suspension letters that were sent out on October 16, 2023. The "wrongful registration, activation, and deregistration of the 'Bob World' app without the authorization of consumers," a breach of bank policies, is the explanation given in the suspension letters.
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According to an unnamed bank source, some staff linked to the suspected fraud have previously been punished by being moved to smaller districts. However, these personnel were ultimately suspended following additional consideration and examination ordered by the Central Bank of India (RBI).
This new information furthers the ongoing investigation into the "Bob World" issue, which was allegedly started by claims that consumer accounts were linked to illegitimate mobile numbers.
This new information furthers the ongoing investigation into the "Bob World" issue, which was allegedly started by claims that consumer accounts were linked to illegitimate mobile numbers.
At 2:58 pm, Bank of Baroda's share price was trading at Rs 203.60 on the NSE, down 1.8%.
To stay updated about such bans and frauds, stay tuned to our page.
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