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  • Category: Miscellaneous

    When banks questions us to drawn our own money how come crores get transferred?

    I was getting more curious about the ways of banks working style as for the ordinary person like you and me when we want to draw some huge money they would raise questions and even ask us to visit after banking hours, in the recent happenings of a famed actor's death and his account being emptied which had 48 crores and now has pittance as cash balance proved that large and very large amount of money has been withdrawn and how come bankers even not sought the nod of the account holder and just arranged transfer without verification of the receiver?
  • #706267
    The author has asked a very difficult question but answer to that is not much complicated. When the officials whether private or Govt are hand in gloves in an incident then such things happen very easily as the person who has to verify and stop that transaction is himself facilitating in that. This has happened in many cases and when we go in details of them we would find a bigger nexus and pressure from top in these matters and generally some gullible or simpleton worker down below the line would be caught in the fire. That is why cross checks and counter cross checks are required to be put in the system and even one honest person in the organisation would be able to check that discrepancy and stop it happening.
    Knowledge is power.

  • #706269
    Now situation is so bad that account holders should not keep large amount in one bank only. It's safer to deposit in different banks.

  • #706278
    Banks have different set of rules for the different customers. Even the payments to the tune of crores would be processed instantaneously for some special customers but for others the rules are stringent. I wonder how the payment of such a large amount was processed at one go without making verifications prior to payments. In the normal cercumstances an ordinary depositer may not withdraw beyond Rs 50, 000/- but being a special customer, no such rules are applicable.
    However, the machinery should see that so many financial scandals have taken place in the past resulting in heavy losses incurred in the past and hence they should stick to the regulations applicable to the banks.

  • #706284
    I expressed the same doubt in my recent thread for which link is given below. When I read that the police caught some crores of rupees from an auto.
    How they are managing that much cash?
    The bank officers may be making a glue in the hand of these big people and helping them. But a common man can't manage the bank officials. So they can't be allowed to draw much cash.
    Another point is the performance evaluation of the branch and the branch officials will be more dependent on the cash they are mobilising and the transactions. That point also will be taken by the big people by opening accounts in the banks and doing transactions also.

    always confident

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