Hey TFCians,
Today, CA Roshan (@RoshanAgarwal) unveiled some lesser-known practices widely adopted by Axis Bank employees and customers to easily obtain the Magnus Burgundy credit card without needing to invest Rs. 30 lakhs.
I thought it’d be a good time to share some insider details about the Axis Reserve replacement loophole and Magnus loopholes from back in the day. With permission from @TechnoFino, I’m sharing some information that was originally discussed in our private WhatsApp group.
In 2023, when one of our group members accidentally discovered the Axis Reserve replacement loophole, we did manage to accumulate some points before it was fixed. However, I was baffled by how certain individuals on Twitter attacked TechnoFino for supposedly exploiting the loophole.
The real issue isn’t that TechnoFino didn’t report the loophole to Axis Bank immediately—it’s that some of these critics were upset they didn’t get to take advantage of it themselves.
Now, let’s set the record straight. TechnoFino did notify Axis Bank employees (Not directly, but hints were given to gauge their thoughts on those loopholes) about the loophole a few months after its discovery. However, instead of resolving the issue, some employees reportedly started exploiting it themselves. This wasn’t just limited to the Reserve replacement loophole—it extended to the Reserve transfer loophole, Magnus book-and-cancel loophole, and several others.
People on Twitter giving lectures about devaluation don’t understand the bigger picture. They remain clueless about the internal mismanagement that contributed to these devaluations. Many Axis Bank employees were exploiting these issues rather than fixing them. And a product like the old Magnus couldn’t sustain in the long run because it offered insane value back and was easily accessible to a large number of people.
This story goes to show there’s a lot more behind the scenes than meets the eye. Perhaps someday, all these hidden stories will come to light. Until then, let’s be mindful before pointing fingers.
Today, CA Roshan (@RoshanAgarwal) unveiled some lesser-known practices widely adopted by Axis Bank employees and customers to easily obtain the Magnus Burgundy credit card without needing to invest Rs. 30 lakhs.
I thought it’d be a good time to share some insider details about the Axis Reserve replacement loophole and Magnus loopholes from back in the day. With permission from @TechnoFino, I’m sharing some information that was originally discussed in our private WhatsApp group.
In 2023, when one of our group members accidentally discovered the Axis Reserve replacement loophole, we did manage to accumulate some points before it was fixed. However, I was baffled by how certain individuals on Twitter attacked TechnoFino for supposedly exploiting the loophole.
The real issue isn’t that TechnoFino didn’t report the loophole to Axis Bank immediately—it’s that some of these critics were upset they didn’t get to take advantage of it themselves.
Now, let’s set the record straight. TechnoFino did notify Axis Bank employees (Not directly, but hints were given to gauge their thoughts on those loopholes) about the loophole a few months after its discovery. However, instead of resolving the issue, some employees reportedly started exploiting it themselves. This wasn’t just limited to the Reserve replacement loophole—it extended to the Reserve transfer loophole, Magnus book-and-cancel loophole, and several others.
People on Twitter giving lectures about devaluation don’t understand the bigger picture. They remain clueless about the internal mismanagement that contributed to these devaluations. Many Axis Bank employees were exploiting these issues rather than fixing them. And a product like the old Magnus couldn’t sustain in the long run because it offered insane value back and was easily accessible to a large number of people.
This story goes to show there’s a lot more behind the scenes than meets the eye. Perhaps someday, all these hidden stories will come to light. Until then, let’s be mindful before pointing fingers.
