Page 43 - A Banker Down the Rabbit Hole

8. Payment of a cheque with forged

signatures

I was posted as a loan officer at a branch after my probation period.

One day, the officer in charge of deposit department and officer
looking after bills department went on leave due to their
exigencies. I was asked to work in Deposit Department for that day
to handle routine matters e.g. scrutinizing and passing cheques up to 2
pm, the closing business hours in those days.

After some time on that seat, there appeared a smart young man on the
counter who presented a cheque of small amount of Rs. 700/- for payment.
I tallied the depositor's signature but clearly it was differing substantially. I
told him to go back to the account holder for correct signature. He complied
willingly and reappeared at the bank counter after about half an hour with
one more same differing signature on the cheque. I again told him that
signature of depositor differs and cheque cannot be paid. He glanced
around and called on our Agriculture Field Officer who shouted from his
seat, "I know this boy Rajpal who hails from Vijay Nagar locality. The small
amount cheque may be paid." As the amount of the cheque was small and
in case of any mistake, the risk was small for me, I paid the cheque after
getting signature of Rajpal on reverse of the bearer cheque.

The depositor in-charge joined back the next day. I had almost forgotten
the incident. After about 3 months, one lady customer came to the branch
to withdraw Rs. 1 00,000/- from her account. The officer informed her that
balance was only Rs. 20,000/- and she can't withdraw such a big amount.
She was stunned to know this position. She told the officer that she never
withdrew the amount of Rs. 700/- and thereafter Rs.100,000/- shown in
the passbook completed just then at the counter. The case was referred
to the Branch Head. He asked her "Who else was handling the passbook
and cheque book of the account in your family?" She disclosed that her
son only knew where she kept the passbook and the cheque book."

40 | A Banker down the Rabbit Hole