Wednesday, January 19, 2011

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SBI to send staffs on leave to dig fraud

  • Wednesday, January 19, 2011
  • SavvY
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  • Following a string of frauds that have rattled several financial institutions in recent months an easy and important measure for detection of fraud which has been a customary practice in MNC banks, has been adopted by India's largest lender State Bank of India. The easiest way for a bank to catch a crooked officer is to send the person on leave and ask someone else to do the job. Walking on the same path, SBI has told all its officers to take a compulsory "preventive vigilance leave" for at least 10 days in every financial year.
    While reviewing high value frauds, the committee had found out that they had been perpetrated by officers who had a reputation for being dedicated and hardworking. There are the employees who did not avail of any leave earned by them. The frauds only came to light when such employees went for training or took leave for some other reason.

    1 Responses to “SBI to send staffs on leave to dig fraud”

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    February 13, 2011 at 9:39 PM

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