Mumbai News: 10 RBL Bank Officers Booked For ₹12.75 Crore Credit Card Sales Fraud

Mumbai: The NM Joshi Marg police have lodged an FIR against 10 RBL Bank officials from its credit card sales unit for allegedly appointing direct sales agents at higher compensation and causing the bank a loss of Rs12.75 crore. It is alleged that the officials (two from Mumbai) posed as agents and received illegal fees. The case was registered after the bank approached the metropolitan magistrate court in Shivadi.

The internal complaint was lodged on March 23, 2021, alleging that the officers accepted bribes from these direct agents. The complainant in the matter is Vikrant Kadam, assistant vice-president of the vigilance department. 

Action after repeated complaints

RBL Bank’s main office is in Kolhapur, while its corporate office is at One World Center at Lower Parel in Mumbai. The recruitment of direct sales agents is managed by the bank’s credit card sales department, which is tasked with selling cards to achieve sales objectives.

After receiving several complaints, the bank launched a probe and confirmed the allegations that between March 2021 and March 2022, the accused officials accepted kickbacks to the tune of Rs4.29 crore from a few direct selling agents into their own and their relatives’ accounts. They also impersonated agents to receive money in their names, causing the bank a loss of Rs12.75 crore. The bank approached the metropolitan magistrate court in Shivadi, which ordered the NM Joshi Marg police to register the FIR.