Wednesday, December 29, 2010

Citi falls asleep!

The tag line of Citibank was "Citi never sleeps" meaning over the globe, at any point time, branches of Citibank are always functioning and cater to the customer needs.  Wonderful.

What an unfortunate development that a news item hit headlines in print and electronic media in this week that the bank was caught sleeping.  An employee in their Gurgaon branch appeared to have single handedly handled the wealth management accounts of priority customers and indulged in a fraud to the tune of Rs. 400 crores.  After all, all those employed in Foreign Banks are supposed to be smart and highly intelligent when compared to PSB staff.  In the last two decades these PSB staff have been competing with Foreign Banks in order to render first class customer service at door steps. 

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