Related to banking industry

There are inconsistencies in the post.   Normally probationary officers should not have such discretionary powers to sign for and on behalf of any bank, or authenticate the transactions.  Only after confirmation and issue of such POA, an officer gets such powers and authority.  Without any iota of doubt, the manager will be dismissed from services after the establishment of fraud by Vigilance dept.,  It is very difficult to state about probationary officer unless a charge sheet is issued as every officer should act responsibly and keep the password to himself alone and at the most, they may state contributory negligence.  In such cases, if the other officer is innocent, a mere reprimand was given after issuing a charge sheet.

Just wanted to know about the severity of the punishment. The probationaries fault was that he gave his password when the manager requested. He may have wanted to stay in his good books. The amount is below Rs 4 lacs and can be repaid. 

Members can not provide such opinions without knowing facts and witnesses statement.  Normally, if you are innocent, minor punishment that may not affect your career in the form of reprimand is possible.  Even if the Chairman requested, the officer should not give his password.  If you have stated in writing that you have given your password to your manager on his request, to stay in good books of management, then there is contributory negligence.  In a bank , they are not bothered about the loss either they can recover from the Manager or from fraud insurance reimbursement.  I know cases where probationer got his term extended for further three months just for a shortage of Rs.30/- of stamp value Rs.5/-   Trust and credibility are the essential requirements for a Banker