BoB World App Case: Bank Asks Employees For Explanatory Notes—Exclusive

Bank of Baroda has asked some employees, allegedly associated with the BoB World App mess, to submit explanatory notes, according to five people with knowledge of the matter.

Based on a review of its records, the bank has identified people allegedly involved in irregularities in mobile transactions, according to a communication by the bank to its employees. It has also asked them to explain the rationale for their actions.

NDTV Profit has reviewed a copy of the communication.

“However, you may share your rationale for your actions by way of an explanatory note on the above issues within -07- days from date of receipt of this letter. Your rationale on the said points of EN should be supported by documentary evidence and a copy of the same be attached along with reply/rationale,” it read.

So far, at least 50 people have been asked to submit these notes across different branches, said the second person quoted above. The investigation is still on and more people may be asked to submit them, said the first and second person quoted above.

At present, the audit is being executed by an external agency and this action is a part of that, all five people confirmed.

Since the preparation of these notes can be a ‘meticulous’ process, the Federation of Bank of Baroda Officers’ Association has also extended its assistance, according to a Dec. 12 circular reviewed by NDTV Profit.

“It is imperative to note that all officers receiving explanation letters can seek support from us, irrespective of their affiliation with FBOBOA or not,” it read.

The action comes days after Bank of Baroda asked employees to upload relevant documents regarding BoB World App activations, according to two of the five people quoted above.

On July 11, Al Jazeera reported an exposé alleging that BoB employees were inflating registration numbers on the BoB World App. NDTV Profit previously reported that incentives to employees, poor app security, and third-party workers all played to the system together, leading to this fiasco.

The fraudulent financial transactions were taking place on the app as users were sharing their credentials with others. The dynamic one-time passwords shared via email were being leaked.

In the aftermath of the mess, the inspection department at the bank identified over 40 lakh accounts with changed mobile numbers, according to a Dec. 8 circular by FBOBOA.

This action further led to the activation of mobile banking on the numbers, as the document stated. Hence, the bank’s branches and employees have been given the task of uploading these documents on a designated portal, it said.

The step is also a part of the rectification process but is becoming a tedious task for employees, according to both the persons quoted above. Employees are being asked to work on holidays and the portal only works for one or two hours a day, the circular alleges.

At present, the Reserve Bank of India's order to block further onboarding of customers on the BoB World App is still being imposed.