HDFC BANK, CASE 6: A. KAR, BRANCH MANAGER, KOLKATA, WEST BENGAL
OPERATION RED SPIDER, PART- 1

HDFC BANK, CASE 6: A. KAR, BRANCH MANAGER, KOLKATA, WEST BENGAL

Cobrapost |
July 26, 2011

“Business to aap kar hi sakte hain. Aaloo patti hai, kuch patti hai, to cash transaction to ho sakta hai (It will be known if it is a savings transaction. You can do business, always, like you deal in potatoes, so there can be cash transaction).”


“Business to aap kar hi sakte hain. Aaloo patti hai, kuch patti hai, to cash transaction to ho sakta hai (It will be known if it is a savings transaction. You can do business, always, like you deal in potatoes, so there can be cash transaction).”
The manager of this branch of HDFC Bank in a smart area of Kolkata suggests playing it safe when the Cobrapost journalist approaches her to invest a big amount of black money in cash. The investment should be made in the names of three persons close to the politician, she says, to convert it into white.
Invest in a business fund, Kar advises, for safety. She said: “Let us do. This is a business fund actually. Not a saving transaction. Savings mein upar aa jayega. Business to aap kar hi sakte hain. Aaloo patti hai, kuch patti hai, to cash transaction to ho sakta hai. Aap dikha sakte ho. Ismein kya karenge current account mein we will open (It will be known if it is a savings transaction. You can do business, always, like you deal in potatoes, so there can be cash transaction. You can show it. Here what we will do is we will open a current account). Or, what can we do we can have one saving account and one current account. We will have two accounts for the customer.”
Explains Kar further: “So the thing… what happens in current account, we will deposit 5 lakh in current account … whatever… and in saving account, we can also 5 lakh … 10 lakh so we will not have to repeat. So that is why we are creating a channel so that at least we have three current account sets and three saving accounts. But we will not open in the same day … different days. So when the auditing is done during the processing, they do not get the documents for three–four different accounts on the same day.”
Don’t go for fixed deposits, Kar says: “Yahan pe bank FD mein karne se kya hota hai … we are under tax … usmein tax mein aa jaati hai (What happens if we invest in bank FDs is … we come under tax … it shows up in taxes). We are giving draft for investment option and which does not require any verification. We putting the money into different… which does not require verifications like any medicals. We are not putting [the money] into equity market. Uske chakkar mein hum log nahin ja rahe. Ek saath karenge. Abhi paisa denge to next year fir paisa jaa raha hai. In between koi update nahin jayega (We are not going for that. We will invest in one go. You will give money today and next year again you will have to give. In between, there will be no update sent).”


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