Was My Termination Justified for a Cash Deposit Mistake? Seeking Advice from Peers

Dear Seniors, I am an employee of a private bank in India. Recently, I was terminated by the company, and I want to know whether the decision of the company is as per the norms.

Incident Description

I made a mistake in depositing cash into one of the customers' accounts. Instead of ₹11,110/-, I deposited ₹1,110/- wrongly. At the end of the day, while closing the branch, I found the mistake. What I did wrong was out of fear that my boss would scold me. I spoke with the customer, informing them that I would deposit the correct amount the next day. I then modified the voucher, and the very next day, I deposited the correct amount into the account that I was handling the previous day.

Investigation and Termination

The next day, while checking the vouchers, my colleague had doubts and asked me about it. I explained the whole story, and then they reported it as fraud. The bank conducted an investigation for 6 months, and they issued a termination letter for me.

Seeking Advice

I want to know if there is no reputational or financial loss for the company, is it justified that they took such a drastic step with just one letter? What is my position now? Can I apply for another job?

I am awaiting your reply.

It is a very difficult question to answer. At the end of the day, there would have been surplus cash with you - Rs. 10,000. How come you did not rectify the mistake then and there? Banks have zero tolerance for such kinds of errors.

Understanding Employee Termination and Legal Rights

Whatever the mistake may be, every human being is prone to error. Having gained the customer's confidence, there was no fraud as the amount shown in the voucher was deposited. It would have been different if the amount in the voucher falsely showed a higher amount, but the amount was misappropriated by the employee.

In essence, what needs to be examined is whether a proper domestic inquiry was conducted as per Section 41 of the Tamil Nadu Shops and Establishment Act. If not, challenge it before the appropriate authority. If the employee is covered under the definition of a workman as defined under the Industrial Disputes Act, then he will have the right to challenge under the Industrial Disputes Act.

In your relieving letter, the employer will mention termination due to misconduct, which will work against your merits.

Thanks,

Sushil

Dear seniors,

Thank you for your reply. They have mentioned in my termination letter that I was terminated because the bank has lost trust in me. I requested them to issue a relieving letter for me so that I can apply for another job. I want to know if they can issue me a relieving letter. If they have not issued it, what should I do with this termination letter? Please suggest to me for a better future.

Thank you.

Hi Abdul, As Sushil mentioned, every human being is prone to error. Still, when you modified the voucher, did you request the customer to come and sign it? When handling money, there is a very thin line between trust and distrust. Such acts give customers a feeling that the bank executives can play with their accounts as they wish. If this is the basis for the bank saying they do not trust you anymore, then I doubt you can rectify it.

Outcome of the Domestic Investigation

What was the exact outcome of the domestic investigation? Does it clearly state you might have done it purposefully or if the incident was a mistake? In either way, the bank can terminate you, saying they have lost trust.

In this situation, you can request the bank to rely on the rest of your trustworthy service and provide a relieving letter without mention of this error incident or domestic investigation, considering your future on it.

Whether a relieving letter is available or not, the next job can reach out to this bank for reference. So, it will be better if you leave on good terms and with a good relieving letter now.

Frankly, I have seen such errors happening in banks and executives correcting them in a similar fashion. But if the bank decides to pursue this so seriously (6 months of inquiry and termination), then this is not just a simple issue of technical error. It seems that some egos and external reasons are involved.

Best of luck.

Regards, Amod.