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AIBOBOU Flags Concerns Over Ozone Urbana Case Investigation at Bank of Baroda
The All India Bank of Baroda Officers’ Union has raised objections regarding the handling of an internal investigation into the Ozone Urbana Infra Developers Pvt. Ltd. project. The union has appealed to the Bank of Baroda’s top management for a fair and transparent review of the case.
Author: V.Gayathri
Published: 5 hours ago
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The All India Bank of Baroda Officers’ Union (AIBOBOU) has written to the Managing Director and CEO of Bank of Baroda (BOB), expressing serious concern over alleged irregularities in the investigation of the Ozone Urbana Infra Developers Pvt. Ltd. project in Bengaluru Rural Region. The letter, dated October 14, 2025, highlights what the union describes as a “biased and predetermined” line of inquiry targeting junior officers.
Union Questions Fairness of Investigation
According to the AIBOBOU, the ongoing investigation led by Shri Raj Kumar Yadav, Chief Manager, Zonal Office, Bengaluru, appears to have unfairly placed responsibility on branch-level officers. These officers, the union stated, had acted based on directives from senior management and did not have the authority to take independent decisions regarding project sanctions.
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Image - AIBOBOU raises concerns over the Ozone Urbana project investigation in a letter to BoB management
Alleged Violation of RBI Accountability Guidelines
The letter draws attention to the Reserve Bank of India’s (RBI) Master Circular on Customer Service, which emphasises maintaining clear staff accountability records. AIBOBOU alleged that these standards are not being followed uniformly, as only junior officers are being held answerable while senior officials remain untouched. The union stressed that accountability should be applied equitably across all levels of hierarchy.
Operational Risk Management Concerns
Citing the RBI’s Guidance Note on Management of Operational Risk, the union pointed out that the Board of Directors is ultimately responsible for effective risk oversight in banks. It also stated that separation of responsibilities and reporting lines must be ensured to avoid conflicts of interest. AIBOBOU expressed concern that the current investigation process undermines this framework.
Union’s Appeal for Fair Action
In its concluding appeal, the union urged BOB’s top management to review the case thoroughly, ensuring that all levels of responsibility — including those in senior management — are examined. It also called for corrective measures to prevent recurrence of what it described as unfair and biased accountability practices.
AIBOBOU’s letter underscores the union’s demand for transparency and fairness in staff accountability procedures. It calls upon the BOB leadership to uphold just investigation standards aligned with RBI norms, ensuring equal treatment of officers across all designations.
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