Page 10 - Bank Of Baroda

Diwali bonanza: BoB has a plethora of deals, offers for credit card users

The offer is available with brands such as Amazon, Flipkart, Paytm, HP, Dell, Xiaomi, MMT, and more, both online and in-store

BOB suspends senior officials for manipulations involving 'bob world' app

Most of these employees who are facing actions have been part of the branch network in the North and Western region of the country

Three banks raise deposit interest rates in a bid to meet credit demand

Bankers have stated that rates have been adjusted in some tenures to align with market rates, given the competition to attract more money into deposits

RBI ban on BOB to source new customers via mobile app may hit its business

This development led to a 3.27 per cent drop in its stock price, closing at Rs 207.2 per share on BSE

RBI action may weigh on growth, increase costs for Bank of Baroda

The Q1FY24 data indicates over 90 per cent of savings and current accounts are sourced digitally

BoB announces increased interest rates on domestic retail term deposits

/ -- Bank of Baroda (Bank), one of India's leading public sector banks, today announced increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 50 basis points across various tenors up to 3 years. These rates are applicable on deposits below Rs 2 crore, with effect from October 9, 2023. The Bank is offering interest rates of up to 7.40% p.a. for general citizens and up to 7.90% p.a. for senior citizens, which includes 0.50% p.a. of additional interest for senior citizens and 0.15% for non-callable deposits. The Bank has also realigned interest rates on its Tiranga Plus Deposit Scheme for 399 days. Senior Citizens will earn 7.80% p.a. on non-callable deposits under the scheme. Shri Ravindra Singh Negi, Chief General Manager - Retail Liabilities & NRI Business, Bank of Baroda said, "We are pleased to offer attractive interest rates to customers, enabling them to earn higher assured returns. In the 2 to 3 years investment tenor, ...

After RBI bans Bob World, Bank of Baroda shares decline around 3%

Shares of state-owned lender Bank of Baroda declined more than 3 per cent on Wednesday. On Tuesday, the Reserve Bank of India barred the Bank of Baroda from onboarding new customers on its mobile app 'Bob World' following material supervisory concerns. The action taken by the central bank is based on certain material supervisory concerns observed in the manner of onboarding customers onto its mobile application. In late morning trade, shares of Bank of Baroda declined 3.10 per cent to Rs 207.55 apiece and plunged further to Rs 207.20 apiece, registering a 3.27 per cent fall during the day on the BSE. On the NSE, the stock of the company dived 2.96 per cent to Rs 207.95 per piece and went lower by 3.22 per cent to close at Rs 207.40 per scrip. In the volume terms, 12.69 lakh equity shares were traded on the BSE, while 4.30 crore shares were on the NSE, during the day. The 30-share BSE Sensex rose 393.69 points to close at 66,473.05, while NSE Nifty gained 121.50 points to settle a

Bank of Baroda to raise Rs 10,000 cr to fund infra, housing projects

Bank of Baroda (BoB) on Wednesday said its board has approved a proposal to raise up to Rs 10,000 crore to fund infrastructure and affordable housing projects. The approval is for raising Long Term Bonds for Financing of Infrastructure and Affordable Housing aggregating to a total size of up to Rs 10,000 crore, in single or multiple tranches during 2023-24 and beyond, if found expedient, BoB said in a regulatory filing. The Reserve Bank of India on Tuesday barred state-owned BoB from onboarding new customers on its mobile app 'bob World' following material supervisory concerns. "The Reserve Bank of India has, in exercise of its power, under Section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the 'bob World' mobile application," the central bank had said in a statement. The action, the RBI had said was based on certain material supervisory concerns observed in the manner of onboard

RBI suspends Bank of Baroda from adding new customers to mobile app

Lender will be allowed to add customers to 'bob World' after rectifying deficiencies, says regulator

RBI orders Bank of Baroda to suspend onboarding customers to its mobile app

RBI asked the bank to ensure that no existing customer of the app faces any disruption due to this suspension

CBI arrests 5 officials from RLDA, BoB for misappropriation Rs 31.50 cr

The CBI has arrested five people, including two retired officials of the Rail Land Development Authority (RLDA) and Bank of Baroda in connection with alleged misappropriation of Rs 31.50 crore, officials said Monday. The agency presented the arrested accused - RLDA's former manager Vivek Kumar, former branch manager of Bank of Baroda Jaswant Rai, and three private individuals Gopal Thakur, Hitesh Karelia and Nilesh Bhatt - before a special court, which remanded them to judicial custody, the officials said. The CBI had registered the case on a complaint by the RLDA alleging it had suffered a loss of Rs 31.50 crore by unidentified individuals. "It was alleged that the RLDA had initially invested an amount of Rs 35 crore (approx) for one year in the form of fixed deposit (FD) at Bank of Baroda, Vishwas Nagar branch, Shahdra, Delhi and thereafter the maturity proceeds were supposed to be re-invested, for a period of three months," a CBI spokesperson said. He said the bank allegedly ...

Stocks to Watch: MCX, TCS, Reliance, Bank of Baroda, Titan, Liquor, sugar

Stocks to Watch on October 9, 2023: MCX has received approval from Sebi's technical advisory panel to shift to the new commodity derivative trading platform

Cricket World Cup may add $2.4 billion to Indian economy: Bank of Baroda

The quadrennial tournament, which starts on Thursday and runs through mid-November, is expected to draw large numbers of visiting fans domestically and internationally

Inclusion in JP Morgan's Bond index to aid BoP improvement: Experts

India's can manage address oil price hike better

Corporate employment growth slows to 5.5% in FY23: Bank of Baroda report

The report looked at the data from annual reports of 1,601 companies in 36 sectors having total sales of around Rs 97 trillion in FY23

Is Nifty PSU Bank nearing an interim peak? Keep an eye on this pivot point

In a past instance, the Nifty PSU Bank corrected over 23 per cent in the following two months after the index entered overbought zone on the monthly scale.

Stocks to Watch today, Sep 13: Infosys, Vedanta, BoB, Paytm, KEC, SpiceJet

Stocks to watch on Wednesday, September 13, 2023: Steel stocks too may see some action India and the US plan to enable exports of at least 336,000 tonnes of certain steel and aluminium products withou

BoB's festival offer: Home loans at 8.4%, 80-bps discount on personal loans

Offers 80 bps discount on personal loan

Bank of Baroda enables UPI ATM facility at over 6,000 ATMs across country

State-owned Bank of Baroda (BoB) on Friday announced that it has enabled the UPI ATM facility at over 6,000 ATMs across the country. It is the first public sector bank to launch UPI ATMs, in coordination with the National Payments Corporation of India (NPCI) and powered by NCR Corporation, BoB said in a statement. Customers as well as customers of all participating issuer banks using any UPI-enabled Mobile app can withdraw cash from Bank of Baroda UPI ATMs without using their debit card, it said. Using the Interoperable Cardless Cash Withdrawal (ICCW) technology, which facilitates cardless cash withdrawals through ATMs, the UPI ATM enables seamless QR-based cash withdrawals, doing away with the need to carry a Card to withdraw cash, it said. One of the major benefits of the UPI ATM facility is that customers can withdraw cash from multiple accounts linked to UPI, it said. UPI ATM transactions are also quicker, convenient, and secured as they generate a single-use dynamic QR code f

IREDA ropes in Union Bank, BoB to co-finance renewable energy projects

State-owned IREDA has partnered with public sector lenders Union Bank of India and Bank of Baroda to co-finance renewable energy projects. Under the Ministry of New and Renewable Energy, IREDA is a non-banking financial institution engaged in extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation. In a statement on Tuesday, the Indian Renewable Energy Development Agency Ltd (IREDA) said it has signed Memorandum of Understanding (MoU) with Union Bank of India (UBI) and Bank of Baroda (BoB). These agreements will facilitate co-lending and loan syndication for a wide range of renewable energy projects, IREDA said. IREDA General Manager (Technical Services) and Dhirendra Jain, General Manager (Large Corporate Vertical) of UBI signed the MoU in presence of IREDA CMD Pradip Kumar Das and A Manimekhalai, Managing Director & CEO of Union Bank of India. While Bharat Singh Rajput of IREDA and Dhiren Lalai, ...