One of the suspended employees told Moneycontrol that he will get only one-third of salary during the suspension period.
“If the bank finds me guilty, it can give me a punishment posting or can even sack me. If not guilty, the bank will give a compensation salary of those months,” he said.
An email sent to BoB, seeking comments, remained unanswered till the time of publishing this report.
On October 16, Moneycontrol reported that BoB may soon file a rectification report based on its audit of the World app to the Reserve Bank of India (RBI) in the next two weeks.
“The RBI had suspended onboarding of new customers to our BOB World app,” an official had said. “We are doing a rectification drive and hoping to send a report to the RBI in the next two weeks,” he had said.
The RBI, on October 10, directed BoB to stop onboarding new customers to BOB World, the lender’s digital banking application.
“Bank of Baroda should suspend, with immediate effect, any further onboarding of customers onto the BOB World mobile application. This action is based on certain material supervisory concerns observed in the manner of onboarding customers onto this mobile application,” the central bank said in a press release on October 10.
Earlier, in July 2023, media reports said that BOB World was tampering with customer accounts. The report alleged that the lender linked the contact details of different people to increase the number of mobile application registrations.