ING Vysya Bank, Case 2: A. Bhaskar, Deputy Manager, Chandigarh
Young and brash, he is confident and realizes the needs of customers of laundering their money. He would as well collect the cash from the client’s residence.
The Cobrapost reporter enters this branch of ING in somewhere Chandigarh and asks Deputy Manager A. Bhaskar about long-term plans, where the money is safe and returns are higher than in FDs.
Bhaskar starts explaining about ING Star, a product with guaranteed 9 per cent tax-free returns, with no TDS, plus bonus. So, an investment of Rs. 50 lakh will fetch us Rs. 65 lakh and bonus. Fair enough.
Sotto voce, we say the money is in cash, and we want it converted into white within 5–7 years. The manager gets interested. We say we could talk this over at our residence over a cup of tea.
So eager the banker is that he asks: “Abhi chal padun (Shall we go right away).”
Our reporter reins him in, explaining that the minister would be present only in the evening. It is his money, and the investment would be made in three names: me, my wife and the minister’s wife.
The banker breaks into a smile when we ask him not to inquire about the name of the minister. Taking his business card out, the officer tells how his family has relations with some big politicians, who also happen to be his clients.
“Iska hoga kaise … cash (How will this be done? In cash)?” asks the manager.
We ask for his advice, whatever is safe.
He wants a clear clarification: “Aap cash de rahe hain ki cheque de rahe hain (Are you giving cash or cheque)?”
We say if it were in cheque, why would we come to him?
But he still wants a reconfirmation: “Aap cash hi denge na (You will give cash, right)?”
We say yes and tell him that we will withdraw after three years, as mentioned in the plan. We say that we are okay if we get about Rs. 65 lakh.
“Thik hai (Ok),” the banker says.
So should we consider it done, we ask?
“Bilkul done (Absolutely done),” says Bhaskar
So when do we fix a time for this?
Replies Bhaskar: “Aap jo marzi time rakhiye (You decide whatever time you want).”
And how will you do this? What forms will be needed?
“Hai mera form (I have the form),” Bhaskar says assuredly.
And what documents should we submit?
He seeks an ID proof.
We say we can give passports.
“Passport… aur kya de sakte hain (Passport … and what else can you give)?”
Maybe a photograph and driving license.
This is sufficient: “Bus theek hai … bahut hai… PAN card toh daalna nahin … pakre jayenge (Alright … that’s enough … you don’t want to give your PAN card … you’ll get caught).”
Do we bring the money to the bank or will you get it collected from the house?
“Jaisa aap kahein (As you say),” says Bhaskar.
On further prodding, he says: “Ghar se le lenge (We’ll get it from the house).” The banker would come in his own car to do us the favour.
The investment basics out of the way, we shift our focus to lockers for Rs. 5–6 crore, expected in early January.
Do you have lockers, we ask?
“Hain (Yes),” he responds.
Will it be available, we further inquire?
He nods.
In whose name should we have this?
“Apne naam se daal lijiye (Get it in your name),” he suggests.
What size are these lockers?
“Medium,” says Bhaskar.
Can that accommodate Rs. 5–6 crore?
He cannot answer that, because he does not know the size of the vault, as he says laughing:
“Main khud nahin gaya abhi (I haven’t been there myself).”
Do you have an idea of any customer putting in Rs. 1–2 crore?
“Ek do crore aa jayega (Rs. 1–2 crore will fit),” he assures.
“Account open hoga (Will accounts be opened)?” he asks.
We ask him to advice. It has to be safe.
He says: “Aap ko mil kar kehte (I will tell you when I meet you).”
We ask him to have everything ready.
The banker agrees.
We come to the topic of pulling money out of the country. We tell him that the minister’s wife goes to Jordan and that an NRI account is needed to help route the money to be kept in the locker, abroad.
Says a confident Baskar: “Jordan me route karna? Collection jayegi … Foreign mein collection hogi … wo bhi dekh lenge … wo bhi apne paas ho jayega (To be routed to Jordan? The collection will go … the collection will go in foreign exchange … we will see to it … that will be done by us).”
We repeat our needs and he reassures: “Koi dikkat nahin … aap mujhe phone kar dijiyega… mujhe che baje bata dijiyega (No problem … you give me a call … tell me at 6 pm).”
We ask him to bring along his senior or branch manager. He agrees.
We shake hands and part.
