HDFC Bank, Case 22: Sudeshna, Investment Banker; Zibran, Assistant Manager, Kolkata
You can invest black money without PAN card: “Bina PAN card ke obviously possible to hai. Ye to aise bahut saare investment aise hote bhi hain (Without PAN card it is obviously possible. There are a large number of investments made this way).”
Again posing as a frontman for a politician, the Cobrapost journalist visits another branch of HDFC Bank in Kolkata. Here, he meets Sudeshna, who looks after investments, and Zibran, who works as a Relationship Manager with the branch. They are given the same story.
It is Sudeshna who does all the talking. She first asks the client to get a DD from a nationalized bank. But then she goes on to suggest a way to help the client: “Sir aap usko kisi national bank mein jama karke DD banwa sakte hain? Hum log ko DD karna parega. National bank mein hota hai wo paisa de ke cash de ke wo log DD bana dete hain. Ya agar account open kar ke yahan pe aap dheere dheere daal ke. Wahan se main DD nikaal loongi har roz. Bina PAN card ke obviously possible to hai. Ye to aise bahut saare investment aise hote bhi hain (Sir, you can deposit it in some national(ised) bank and make DD? We will have to do it through DD. What they do in a national(ised) bank is they issue a DD for the cash you give them for a fee. Or, you open an account here and deposit it slowly. I can make DD from there every day. Without PAN card it is obviously possible. There are a large number of investments made this way).”
Then Sudeshna begins to discuss if the black money could be invested with her bank: “Aapko doh kaam karna hai. Pehle to aap savings account khol lo aapke naam pe, aapki wife ke naam pe, baby ke naam pe and Nita ke naam pe. PAN card aapko jab main investment karungi tab mujhe chahiye hoga kyunki PAN card yahan pe dene se aap safe ho. Teeno account mein hum har roz 49,999 matlab pachas hazaar se ek rupaya kum (You have to do two things. First, you open a savings account here in your name, your wife’s name, in your baby’s name and Nita’s [politician’s wife] name. I will need the PAN card when I will go for the investment because if you give the PAN card you will be safe. Everyday we will deposit Rs. 49,999 in all three accounts, which means a rupee less than 50,000).”
Won’t it be cumbersome for him to deposit money every day? Don’t worry. It will be taken care of, replies Sudeshna: “Hum hi log jayenge … ghar se le ke aate hain, kyunki ek saath aap kabhi bhi daaloge na to wo nazar mein aayega. Aapko to thoda safely ghumana parega. Bina PAN card ke kijiye. Wo zyada safe hai (We ourselves will go. We will collect it from your home. Because if you put in the entire money in one go, it would come into notice. You will have to move it safely. You do it without PAN card. That will be safe).”
If a PAN card is furnished, then how much cash could their bank accept? Replies Sudeshna: “Har roz teen lakh. Koi problem nahin hoga kyunki bank ke paas poora jo bhi aap details de rahe ho wo absolutely safe. Koi nahin pakrega. Isko jab hum route karenge ismein kya suvidha hai yeh poora paisa white ho ke aayega (Rs. 3 lakh every day. There would be no problem because whatever details you are providing to the bank it is absolutely safe. No one will catch you. When we route it this way, the entire money will come to you in white, this is the benefit).”
Continuing with the modus operandi, Sudeshna says: “Pandrah din mein … 16 maan lijiye … poora pachas lakh aa gaya account mein. Yahan se DD ban jayega. Hum log deal kar lenge … insurance mein humlog daal denge paisa aapke naam pe, aapke biwi ke naam pe. Baaki ka paisa FD kar denge. Poora ek saath to pachas nahi daalenge (In 15 days, suppose 16, the entire amount of Rs. 50 lakh comes into the account. DD will be made from here. We will deal with it. We will invest the money in insurance in your name, in your wife’s name. The rest of the money we would put in FD. We will not put in Rs. 50 lakh in one go).” The reason for the caution about putting in Rs 50 lakh in one go is Sudeshna knew what she proposed is illegal.
The reporter asks how many investments involving black money she has handled. Sudeshna replies: “Hum log ek crore do crore daala sir. Main aapko safety hi bata rahi hun. Ye jo aapka 10-10(D) inbuilt hai koi bhi aapko pakad nahin payega. Ye paisa poora white ho jaata hai jab aap uthate ho (We have handled Rs. 1–2 crore, Sir. I am talking about the safety. This 10- 10(D) is inbuilt. No one will be able to catch you. When you withdraw the money it is fully in white).”
