New Scam of Union Bank of India : Hear from Ex - Employee About New Gold Loan Fraud

Every one talks about PNB scam however there are  more scams which doesn not gets reported or let say never get unearthed as they are done by people who can easily dig the hole in the system. Here is another such scam which is being reported by one of the ex-bank employee of Union Bank of India on Quora, though answer is anonymous we have not verifed the identify however we feel PSU Banks are full of curruption, irredularity which needs to cleaned
  

  New PNB Like Scam of Union Bank of India Bank

 Here is story narrated by Ex-Employee of Union Bank Of India, taked directly from Quora    

"After PNB fraud another fraud in hiding.I'm an employee of union Bank of India. I had joined this bank as a probationary officer in the year 2015 in one of the southern state. I had cleared ibps competitive exams and interview and joined this so called esteemed organisation. Once I joined I was in cloud 9 that I'm going to work for government and my life is settled but after my training period I was posted in one of the top Cities in southern India. Life was going good when I stumbled upon some documents, these documents belong to the gold loans taken by a customer and selling of properties which belong to defaulters. I got to know that the gold loan taken by a poor farmers who cannot afford to pay the interest and principal amount would thus leave it with the bank and as per banks policy they need to auction it after some period of time and they have to give an notice in the top newspaper but the catch is the managers who were there previously won't allow for auction instead they will pay the principal and interest amount together and forge the poor farmers signature and take the gold loan for himself or for his colleagues for eg. (If the farmer have kept the gold for say 1lac ruppes but his gold value is 2 lac and with time that interest amount reached 1.5 lac he won't be able to return it.) So these kinda fraud are still happening and these people have amassed a large amount of wealth. Now you might ask why I didn't send complaints for the same. I tried my level best to bring those culprits out. I sent a mail chain keeping all the MD's managers etc but I didn't got any reply from anyone that much is the depth of corruption in the banking sector now. And at the end as I expected I was sidelined from various managers got bad feedback, regularly thrashed for being straight and got trapped in some fake loan sanction where I was suspended for few months, enough of this shit I quitted my job and trying to make a new life.While writing this post sbi have charged 147.56 has a ATM transaction fee. These people will loot poor peoples money.hope this reaches a concerned person and before anything similar like PNB happens government should awaken."


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