RBL Bank Registers Case against National Head of Its Credit Card Dept, 10 Others in Rs12 Crore Fraud: Report
Moneylife Digital Team 30 April 2024
RBL Bank Ltd has filed a fraud case against the national head of its credit card department and 10 other senior officers from its Gurugram, Mumbai, Rajkot and Ahmedabad offices and their unknown associates, for allegedly defrauding the Bank of Rs12.02 crore, says a report.
 
According to the report from Indian Express, on the directions of a city court, the NM Joshi Marg police in Mumbai has registered a first information report (FIR) based on a complaint filed by Vikrant Kadam, assistant deputy president in the vigilance department of RBL Bank, against the bank's credit card department's national head Rudhir Bhupinder Sarin and 10 others.
 
The entire fraud surfaced on 23 March 2021, when RBL Bank's chief vigilance officer received inputs from a whistle-blower about executives from the Mumbai credit card sales unit— Ansari Wahid and Sumit Jaiswal—accepting kickbacks from direct selling agents. 
 
"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, to siphon off money, also allegedly sold credit cards in the name of non-existing or bogus agents," the report says, quoting the complainant.
 
The accused allegedly accepted kickbacks of Rs4.29 crore from the direct selling agents, causing a wrongful loss of Rs12.02 crore to RBL Bank, the complainant alleged in his statement to the police.
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