New Delhi: From fake certificates to the Rs 400 crore Citibank fraud: The RBI has initiated a probe, the governor is expected to make a statement on Saturday. The case has shaken the trust of consumers in their bankers. CNN-IBN tells you a few simple tips that you should take to ensure that the relationship manager at your bank does not manipulate you.
It's no lottery - just one of corporate India's biggest frauds. Shivraj Puri, a relationship manager at Citibank's Gurgaon branch, allegedly siphoned off Rs 300 crore from high net worth investors. The ploy used an investment scheme that promised two per cent returns every month. The incident has left many customers worried about their investments as the trust that they have in their banks is now shaken. So CNN-IBN spoke to bankers and wealth managers for some tips.
-Known names do not guarantee safety from errant employees. Be on your guard.
-If it sounds too good to be true, it probably is.
-Check your returns on a regular basis. If not, every day or week, at least once a month.
-If you're told an investment proposal is endorsed by Securities and Exchange Board of India (SEBI), question why a markets regulator would endorse an investment proposal.
-If it's a large investment, speak to a senior manager or head of the wealth management branch.
-Don't sign blank cheque and documents.
So, it's your money; it's up to you to keep it safe.
Comments
0 comment