Bank Employee Suicide, Family Alleges Workplace Harassment

 

A senior ICICI Bank employee, Vivek Samdarshi, allegedly died by suicide in Bengaluru, with his family accusing top bank officials of workplace harassment and excessive work pressure. Concerns regarding toxic work environments in corporate settings have been raised by the incident.

Vivek Samdarshi, the deceased, was the Regional Head of Sales at ICICI Bank and had been working with the bank for over five years. His family claims that he was under immense stress due to alleged workplace harassment and unrealistic performance expectations set by his seniors.

His elder brother, Vikash Samdarshi, has formally submitted a police case at Thalaghattapura Police Station, naming Raghu Kumar (Regional Head, ICICI Home Loan Department) and John Joseph (Zonal Head, ICICI Bank Home Loan Department) as the individuals allegedly responsible for abetting his suicide.

According to the complaint, Vivek had constantly confided in his family about the intense strain and ongoing humiliation he was enduring at work. Raghu Kumar, according to his brother, made demeaning comments, telling Vivek, "If you can't perform, you should die." John Joseph is accused of encouraging such toxic behavior instead of addressing these issues, which made Vivek's conditions worse.

The tragedy transpired in the early hours of March 7, 2025. Around 3 am, Vikash Samdarshi received a frightening phone call, notifying him that his brother was in critical condition. Despite prompt medical attention, Vivek succumbed to his injuries later that day. He was reported dead at 11:30 pm at DHEE Hospital.

The police have registered a case and are currently investigating the allegations against the bank officials. ICICI Bank hasn't yet released an official statement about the incident or the family's allegations, though.

Anna Sebastian Perayil, a 26-year-old employee of Ernst & Young in Pune, committed suicide a few months prior to this tragic incident. In public, Anna's mother had claimed that her daughter's death was brought on by a "excessive workload." Ernst & Young offered their sincere condolences after the incident and reaffirmed their commitment to improving working conditions in all of their Indian offices.

Vivek Samdarshi’s story has once again raised serious questions about job stress, harassment, and mental health difficulties in corporate organizations. According to experts, businesses should be proactive in preventing toxic workplace cultures and offering high-pressure workers mental health support.

The investigation into Vivek’s death is ongoing, and his family continues to demand strict action against those responsible.

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ICICI Bank Q3 Profit up 15% YoY; NII grows 9%

India's second largest private sector lender ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter.

It's net interest margin stood at 4.25% in Q3 FY25 compared to 4.27% in Q2 of FY25 and 4.43% in Q3 of FY24. The net NPA ratio was flat sequentially at 0.42% while provisioning coverage ratio on non-performing loans was 78.2% at December-end.

Also Read - Quarterly Results of all banks for Q3FY25

ICICI Bank's total period-end deposits increased by 14.1% YoY and 1.5% sequentially to Rs 15,20,309 crore. The average deposits increased by 13.7% YoY and 2.1% sequentially to Rs 14,58,489 crore during the quarter.

The average current account deposits increased by 13.1% YoY and 4.5% sequentially while average savings account deposits increased 12.3% YoY and 1.3% sequentially.

The average current account and savings account (CASA) ratio was 39% in Q3.

The net domestic advances grew by 15.1% YoY and 3.2% sequentially during the quarter. The retail loan portfolio grew by 10.5% YoY and 1.4% sequentially, and comprised 52.4% of the total loan portfolio.

The gross NPA ratio improved marginally to 1.96% in Q3 vs 1.97% in Q2 of FY25. The gross NPA additions were Rs 6,085 crore in Q3 compared to Rs 5,916 crore in Q1 of FY25 and Rs 5,073 crore in Q2 of FY25.

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Farmer commits suicide inside Bank premises in Telangana

Jadhav Devrao, 54, a farmer from Bela Mandal in Adilabad, Telangana, tragically committed suicide at a nearby ICICI Bank office on January 18, 2025. Devrao was having trouble repaying a loan of ₹3.4 lakh that he had taken out in 2019 using his five acres of property as security. He said that because he failed to make his October 2024 ₹25,000 installment, bank authorities harassed him. Devrao entered the bank's grounds on the day of the incident and ingested the insecticide Monosil. He was sent to RIMS hospital, but it was not enough to save him. He is survived by his son, Akash Devrao, and his wife, who suffers from kidney disease. In his police complaint, Akash has accused the bank harassment.

Although the initial results of the police inquiry have not yet verified the claims of harassment, the problem has been brought to their attention. Although Devrao had obtained the credit through the PM Kisan Credit Mortgage program, the Congress government's farm loan waiver program did not apply to his loan. Mortgage loans, such as Devrao's, were not covered by the program, but loans up to ₹2 lakh were. Political reactions have been triggered by the tragedy. On social media, Bharat Rashtra Samithi (BRS) working president KT Rama Rao attacked the Congress administration. He revealed the bank's CCTV footage and referred to the incident as the consequence of the government's "failed governance."

"This is daylight murder of a Telangana farmer by your Congress government," said Rama Rao, expressing his ire. 50-year-old tribal farmer Jadhav Devrao felt that his only choice was to take his own life after you failed to fulfill your promises. He left his sick wife and son behind and ingested poison in the bank. all as a result of your broken promises. He further accused the Congress government of failing to fulfill its promises, saying that the government's Rythu Bharosa scheme was ineffectual and that less than 40% of farmers were given the ₹2 lakh farm debt waiver. In closing, he urged the Congress to recognize the hardships faced by Telangana farmers and to take action to alleviate their issues.

He further accused the Congress government of failing to fulfill its promises, saying that the government's Rythu Bharosa scheme was ineffectual and that less than 40% of farmers were given the ₹2 lakh farm debt waiver. In closing, he urged the Congress to recognize the hardships faced by Telangana farmers and to take action to alleviate their issues. As they continue to collect evidence, the police investigation is still ongoing. Concerns over how farmers are treated and how financial strains affect their wellbeing have been brought up by the occurrence.

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Top 10 Mobile Banking Applications in India

Over the past few decades, technology has advanced significantly. From computers to laptops and iPads, software to applications, and mobile phones to Android devices, the digital age is pervasive. These days, many people use mobile banking apps. When conducting online transactions, a mobile banking app provides convenience, speed, and flexibility.

Nowadays, a large number of Indians are uncomfortable using traditional banking. They have therefore embraced mobile banking. Because of this, practically all private sector and PSU banks offer mobile banking apps for online transactions. This lessens the need for a laptop or desktop computer, and most importantly, it eliminates the need for you to physically visit the bank in order to complete any banking task.

 

1. Kotak-811 & Mobile Banking App

Kotak-811 - A app from Kotak Mahindra Bank offers a zero-balance savings account with an internationally enabled virtual debit card. It features a slick digital banking app UI. It is the first app in India to offer WhatsApp banking. You may now bank on a familiar platform using this app.

Features

* View account details and transaction details, and download e-statements.

* Send and receive money for instant transfers using IMPS, NEFT, and UPI.

* Manage your zero-balance savings account with an internationally enabled virtual debit card for online payments.

* Connect your bank account with WhatsApp and initiate banking transactions through a chat interface.

Pros

User-friendly interface with innovative features, ero-balance savings account with virtual debit card,WhatsApp banking for convenient banking on a familiar platform

Cons

Limited investment options compared to dedicated investment apps, Occasional app crashes reported by some users, Might be overwhelming for users who only need basic functionalities

2. HDFC Bank Mobile Banking App

The HDFC Bank app from one of India’s largest banks, allows you to manage your finances conveniently. You can check account summaries, make payments, transfer funds, and pay utility bills all within the HDFC net banking app.

Features

* Send and receive money using IMPS, NEFT, and UPI through the HDFC bank mobile banking app.

* Schedule and pay various bills, including utilities and credit cards.

* Personalize your app dashboard to display the features you use most frequently.

* Access a streamlined version of the HDFC app download for users with slower internet connections.

Pros

User-friendly interface with customizable features, Reliable and secure platform from a major bank, Lite version available for users with slower internet

Cons

Limited investment options compared to dedicated investment apps, Some users report occasional app crashes, May not offer the most advanced features compared to some other apps

3. YONO SBI 

YONO SBI- App of State Bank of India, Previously known as SBI Anywhere Personal, YONO SBI offers a user-friendly and secure platform for SBI account holders. It supports multiple languages and allows click-based and voice-assisted transactions for a convenient banking experience.

Features

* Use YONO app to send and receive money using IMPS, NEFT, and UPI.

* Schedule and pay various bills, including utilities and credit cards.

* Access the SBI mobile banking app in multiple regional languages for broader accessibility.

* Perform banking transactions using voice commands for added convenience.

Pros

Voice-assisted transactions, All-in-one Platform (investments, shopping, travel booking), Cardless Cash Withdrawal

Cons

Might be overwhelming for users who only need basic functionalities., Customer service responsiveness might vary.,Limited investment options compared to dedicated investment apps.

4. Axis Mobile App

Renowned for its stability, Axis Mobile offers a comprehensive suite of banking services.

Features

* Use the Axis Bank app to schedule automatic payments for various bills, including utilities and credit cards.

* Track your mutual fund investments within the Axis mobile app.

* Set spending limits, turn contactless payments on/off, and temporarily block your card if misplaced.

Pros

Stable and reliable performance, Wide range of features for managing finances, Auto-pay functionality for bills, Debit card control options

Cons

Occasional app crashes reported by some users, Limited investment options compared to dedicated investment apps

5. IDBI Bank GO Mobile+ App

Designed for a smooth banking experience, IDBI GO Mobile+ offers a user-friendly interface and various services. You can check account statements, make payments, recharge prepaid mobiles, and pay utility bills.

Features

* Choose seasonal themes or customize your login screen on the IDBI bank app.

* Secure your login with a selfie picture.

* Use IDBI app to view holdings and transactions directly within the app.

Pros

Simple and easy-to-use interface,Supports regional languages,Covers essential banking needs,Mobile recharge functionality

Cons

Limited investment and advanced features,Customer service responsiveness might vary

6. BOB World

Developed by the Bank of Baroda, BOB World is an app known for its user-friendliness.

Features

* Withdraw cash at BOB ATMs using a one-time MPIN generated within the Bank of Baroda app.

* Generate QR codes on BOB mobile banking app for easy bill payments at merchant locations.

* Store and manage digital receipts for your transactions within the app.

Pros

Convenient bill payments & organized receipts, Simplified cash deposits, Security features (2FA, biometrics, data encryption)

Cons

Relies on QR reader compatibility & increases app storage use, Limited branch availability for cash deposit requests, Responsiveness of customer service

7. ICICI Bank iMobile Pay App

A highly rated app by ICICI Bank, iMobile Pay offers a comprehensive suite of banking services.

Features

* Open fixed deposits (FDs), invest in recurring deposits (RDs) and manage existing investments.

* Access and manage your ICICI Bank life insurance policies on the ICICI Bank mobile app.

* Get quick access to personal loans against your credit card on the imobile app.

Pros

The ICICI bank app features a streamlined layout for effortless navigation, Customize your dashboard for quick access to frequently used features, Clear menus and categorized services

Cons

The app may experience occasional technical glitches or crashes, Some users report slower processing times for transactions, The app might require frequent updates to ensure smooth performance

8. Canara Bank ai1 Mobile Banking App

Designed with the goal of “One Bank, One App,” Canara Bank’s ai1 app offers a variety of banking services.

Features

* Use Canara bank app to pay instantly at stores with a tap using your phone (RTGS/NEFT enabled).

* Start fixed or recurring deposits or invest in mutual funds all within the Canara bank mobile app.

* Set up recurring payments for your bills and savings goals.

Pros

Book flights, hotels, buses, and cabs directly through the app, Check your credit score and pay bills seamlessly through Bharat Bill Payment,Access insurance, Demat services, and IPO applications

Cons

Occasional problems might occur with UPI transactions, Features might be limited for users who don’t have a Canara Bank account, The app might experience occasional slowdowns or technical glitches.

9. Bank of India BOI Mobile App

BOI Mobile boasts a secure and comprehensive banking experience for Bank of India account holders.

Features

* View balances and statements and manage all accounts on the Bank of India app.

* Transfer funds quickly with IMPS, NEFT, and RTGS, and utilize the “Favourite” feature on the Boi mobile app.

* Locate ATMs, manage cheques, and access various banking services.

Pros

Efficient navigation for transfers and management, User-friendly interface with easy account access, Streamlined process for adding “Favourites.”

Cons

Interface might be challenging for new users to navigate, Lacks advanced features compared to some competitors, Occasional transaction delays and app crashes reported.

10. Punjab National Bank PNB ONE App

PNB ONE is the official mobile banking app from Punjab National Bank.

Features

* Gain quick access to all your accounts through an interactive interface by downloading the PNB One app.

* Invest in term deposits and mutual funds, all within the PNB One app.

* Track cheque status, request stop payments, and manage cheques conveniently.

Pros

Access value-added services like PAN/Aadhaar registration, Manage existing credit/debit cards, Enjoy the app in English, Hindi, and other languages.

Cons

 Features might be limited for non-PNB customers, May be complex for new users to navigate, App crashes and slow processing times reported.

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ICICI Bank Q2 net profit jumps 14% on-year

 

ICICI Bank's Q2 FY25 standalone net profit rose by 14.5 percent on-year to Rs 11,746 crore, from Rs 10,261 crore in the year-ago period, exceeding Street expectations. A Moneycontrol poll of brokerages had forecasted the bank’s profit at Rs 10,989 crore.

The private sector lender’s net interest income (NII) increased by 9.5 percent to Rs 20,048 crore, but it missed Moneycontrol poll estimate of Rs 20,845 crore. ICICI Bank reported its net interest margin (NIM) at 4.27 percent, which fell from 4.36 percent seen in the previous quarter and 4.53 percent in the year-ago period.

The bank also reported non-interest income growth of 10.8 percent to Rs 6,496 crore, with a 13.3 percent rise in fee income to Rs 5,894 crore, largely driven by contributions from retail, rural, and business banking customers.

ICICI Bank's loan portfolio showed steady expansion, with domestic loans growing 15.7 percent year-on-year to Rs 12.43 lakh crore. Total deposits at the end of the quarter were also up 15.7 percent on-year at Rs 14.98 lakh crore, with the average CASA ratio recorded at 38.9 percent.

Asset quality continued to be robust, with the gross NPA ratio narrowing to 1.97 percent at September 30, 2024 compared to 2.15 percent on June 30, 2024. Net NPA ratio remained nearly flat at 0.42 percent at the end of September, against 0.43 percent in the previous quarter. The provisioning coverage ratio on non-performing loans stood at 78.5 percent.

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ICICI Bank Q4 Net Profit Rises 17.4%

Private sector lender ICICI Bank on Saturday reported a 17.4 per cent year-on-year jump in its net profit to Rs 10,708 crore for the March 2024 quarter (Q4FY24). Its net interest income (NII) during January-March 2024 rose 8.1 per cent year-on-year to Rs 19,093 crore, compared with Rs 17,667 crore in the year-ago period.

ICICI Bank’s net NPA ratio declined to 0.42 per cent in the March 2024 quarter, from 0.44 per cent as on December 31, 2023, according to a BSE filing.

The board recommended a dividend of 10 per equity share of face value of 2 each, subject to requisite approvals. The dividend on equity shares, will be paid/despatched on or after the same is approved by the shareholders at the ensuing Annual General Meeting (AGM) of the bank.

Provisions (excluding provision for tax) were Rs 718 crore in Q4 FY24 compared to Rs 1,619 crore in Q4 FY23.

The net interest margin stood at 4.40 per cent in Q4-2024 compared to 4.43 per cent in Q3-2024 and 4.90 per cent in Q4 2023.

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Police summons MDs of 4 Banks, 11 Bank Employees arrested

A number of bankers have been arrested in recent cyber fraud investigations due to allegations that they were involved in fraudulent operations. The managing directors of Yes Bank, ICICI Bank, RBL Bank, and Kotak Mahindra Bank are among the four private banks that the city police have written to, demonstrating how seriously they regard this issue. The letter's objective is to ask them to come in person the next week to provide an explanation for why no legal action should be taken against them.

Role of Bankers in Cyber Fraud Cases

When authorities discovered that the account holders implicated in illegal activities were unaware that they had opened such accounts, the role of bankers came under investigation. It was found that the bankers had helped cyber criminals open these accounts after more inquiry. The fact that the bankers charged a sizable commission in each instance suggests that they were aware that they were involved in illegal activity.

Victims of Fraudulent Investment and Task-based Schemes

Many people have been duped by schemes that promise large returns on investments or possibilities depending on tasks. In addition to apprehending the cyber criminals, the local police have shown initiative by making the bankers answerable for their involvement in these cyber fraud cases. As a result, the city police are the only law enforcement agency in the nation authorized to detain bankers in conjunction with other suspects in similar circumstances.

Read More - सबसे बड़ा बैंकिंग घोटाला: भारत देश में अब तक का सबसे बड़ा बैंक फ्रॉड, करोडो का बैंको को लगाया चुना

Exposing the Role of Bankers

During the investigation, it was discovered that the employees of Kotak Mahindra Bank’s MG Road branch were involved in fraudulent activities. They were subsequently arrested, and during the interrogation, they confessed to the involvement of several other bankers in similar fraudulent acts. Recognizing that bank accounts are a crucial component in cyber frauds, the police decided to investigate the criminal activities of bankers in such cases.

Violations of KYC Norms

In light of the recent arrests, the city police have written to the managing directors of Kotak Mahindra Bank, ICICI Bank, RBL Bank, and Yes Bank. The purpose of this letter is to request their personal appearance and an explanation as to why legal action should not be initiated against them for clear violations of the Reserve Bank of India’s (RBI) Know Your Customer (KYC) norms.

Bankers’ Methods and Tactics

During the ongoing investigations, the police have found that the bankers accused of aiding cyber criminals opened bank accounts using identification and address proofs collected from factory workers and laborers. They even gained access to the bank accounts of daily-wage workers by offering them money. Additionally, the police noticed the use of fake IDs, address proofs, and forged signatures to open bank accounts, further exposing the deceptive tactics used by these individuals.

Read More - Suspicious transactions detected in this bank,three staffs arrested

Bank Responsibilities and Accountability

The Deputy Commissioner of Police(Cyber Crime), Siddhant Jain, emphasized that bank managements have a responsibility to safeguard their clients’ money and protect it from cyber criminals. If bank employees are involved in criminal activities and aiding fraudsters, it is the duty of the bank managements to explain why action should not be taken against them. The police are determined to hold the responsible parties accountable for their actions in order to protect the public and maintain the integrity of the banking system.

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ICICI Bank Q3 Results: PAT jumps 24% YoY, beats estimates

ICICI Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24) results, reporting a rise of 23.5 per cent in standalone net profit at ₹10, 272 crore, compared to ₹8,312 crore in the year-ago period.

India's second largest private sector lender's net interest income (NII) increased by 13.4 per cent to ₹18,678 crore in the December quarter from ₹16,465 crore in the corresponding period last year. 

The gross non-performing assets (NPA) ratio declined to 2.30 per cent at December 31, 2023 from 2.48 per cent at September 30, 2023. The net NPA ratio was 0.44 per cent at December 31, 2023 compared to 0.43 per cent at September 30, 2023 and 0.55 per cent at December 31, 2022.

The net additions to gross NPAs, excluding write-offs and sale, were ₹363 crore in Q3-2024 compared to ₹116 crore in Q2-2024. The gross NPA additions were ₹5,714 crore in Q3-2024 compared to ₹4,687 crore in Q2-2024. 

Recoveries and upgrades of NPAs, excluding write-offs and sale, were ₹5,351 crore in Q3-2024 compared to ₹4,571 crore in Q2-2024. The bank has written off gross NPAs amounting to ₹1,389 crore in Q3-2024. The provisioning coverage ratio on NPAs was 80.7 per cent at December 31, 2023.

The total period-end deposits increased by 18.7 per cent year-on-year and 2.9 per cent sequentially to ₹13,32,315 crore at December 31, 2023. Period-end term deposits increased by 31.2 per cent year-on-year and 4.9 per cent sequentially to ₹8,04,320 crore at December 31, 2023. Average current account deposits increased by 11.6 per cent year-on-year in Q3-2024. Average savings account deposits increased by 2.8 per cent year-on-year in Q3-2024.

The net domestic advances grew by 18.8 per cent year-on-year and 3.8 per cent sequentially at December 31, 2023. The retail loan portfolio grew by 21.4 per cent year-on-year and 4.5 per cent sequentially, and comprised 54.3 per cent of the total loan portfolio at December 31, 2023.

Including non-fund outstanding, the retail portfolio was 46.4 per cent of the total portfolio at December 31, 2023. The business banking portfolio grew by 31.9 per cent year-on-year and 6.5 per cent sequentially at December 31, 2023.

Provisions (excluding provision for tax) were ₹1,050 crore in Q3-2024 compared to ₹2,257 crore in the year-ago period.

In Q3-2024, provisions included ₹627 crore on investments in Alternate Investment Funds as per RBI circular dated December 19, 2023.

The non-interest income, excluding treasury, increased by 19.8 per cent year-on-year to ₹5,975 crore in Q3-2024 from ₹4,987 crore in Q3-2023

Fee income grew by 19.4 per cent year-on-year to ₹5,313 crore in Q3-2024 from ₹4,448 crore in Q3-2023. Fees from retail, rural, business banking and SME customers constituted about 79 per cent of total fees in Q3-2024

There was a treasury gain of ₹123 crore in Q3-2024 compared to ₹36 crore (US$ 4 million) in Q3-2023.

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