Cobrapost fallout: RBI extends investigation to 34 banks

.....“RBI has questioned how non-sales staffs, involved on operational matters like a person who is in the teller counter, can have a target. Lure of achieving target leads to not doing the basic duty,” said a senior banker. RBI is likely to issue norms banning sales incentives to operational staff of the banks. Similarly, target on selling gold coins by operational staff will also be abolished. However, violation of anti money-laundering norms has not been found. “Money laundering has a criminal connotation. It was not found in the initial investigation that bank employees are indulging in such activities,” said banking industry sources.......

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