Page 11 - Bank Of Baroda

Ireda partners with banks to boost renewable energy projects in India

Agreements with Union Bank of India and Bank of Baroda set to empower renewable energy projects

Sowing of paddy rises around 4% and pulses down 8.53% this season

A report by Bank of Baroda pegs upto 4 per cent rise in kharif rice output, but 12 pc decline in pulses production

Baroda UP Bank to rationalise over 250 branches in semi-urban, rural areas

Appoints BCG for organisational revamp

BoB withdraws Sunny Deol's villa auction notice, cites technical reasons

Reversal in decision comes within a day of the initial auction notice for the actor's Juhu property

Sunny Deol offers to settle dues for his Mumbai bungalow: Bank of Baroda

State-owned Bank of Baroda on Monday said actor Sunny Deol has offered to settle the dues related to his bungalow in Mumbai. The lender's statement comes hours after it withdraw the public notice to auction the villa owned by actor and sitting BJP Member of Parliament to recover Rs 56 crore dues. "In the meantime, the borrower has approached the bank for settling the dues as per the sale notice published on August 20, wherein the borrower/guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted," the bank said.

Why did the Bank of Baroda want to auction Sunny Deol's Juhu bungalow?

On Monday, Bank of Baroda said it had withdrawn the auction notice for Sunny Deol's Juhu bungalow

BoB to auction Sunny Deol's Juhu villa to recover Rs 56 cr on Aug 25

State-owned Bank of Baroda has put on the block a property owned by actor and sitting BJP Member of Parliament Sunny Deol to recover Rs 56 crore through an e-auction to be held on August 25. The Gurdaspur MP, whose latest flick Gaddar 2 is a box office success having already grossed over Rs 300 crore since the release last week, has been in default on a Rs 55.99 crore loan from the bank and interest and penalty, since December 2022, the second largest state-owned lender said in a public tender on Sunday. The bank, which has attached the property, Sunny Villa located on the Gandhigram Road in the tony Juhu area of the megapolis, has fixed the reserve price for the auction at Rs 51.43 crore and an earnest money deposit of Rs 5.14 crore. Apart from the Sunny Villa, the 599.44 square metre property also houses Sunny Sounds, which is owned by the Deols, and is the corporate guarantor to the loan, while his actor-politician father Dharmendra is the personal guarantor of the debt, accordin

Bank of Baroda, Canara Bank, BoM hike lending rates by up to 10 bps

A number of public sector banks, including Bank of Baroda (BoB) and Canara Bank, raised the marginal cost of funds based lending rates (MCLR) by up to 10 basis points even though RBI retained policy rate on Thursday. The move will make EMIs linked to MCLR expensive. The one-year tenor MCLR is the rate against which most consumer loans are tied to. The revised one-year MCLR would be 8.70 per cent as against the existing rate of 8.65 per cent, BoB said in a regulatory filing. The new rate would be effective from August 12, it said. Canara Bank too raised its MCLR by 5 basis points to 8.70 per cent effective August 12. Another public sector lender, Bank of Maharashtra (BoM) has increased its MCLR by 10 basis points. With the hike, the rate of one-year MCLR rises to 8.60 per cent as compared to 8.50 per cent, BoM said in a filing. The revised rate is effective from August 10, 2023, it said. The Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 6

Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat

Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent

Stocks to Watch today, Aug 07: Yatharth, TD Power, RIL, BoB, GNFC, Zen Tech

Stocks to watch on August 07, 2023: Shares of consumer discretionary such as Dixon Tech and Amber Enterprises are expected to be in focus after government relaxed curbs on laptop imports.

Bank of Baroda Q1FY24 proft rises 87.7% on growth in net interest income

The non-interest income almost tripled YoY to Rs 3,322 crore. Sequentially, it was down from Rs 3,466 crore in Q4FY2

Bank of Baroda to report Q1FY24 results on Aug 5; here's what to expect

Bank of Baroda Q1FY24 results preview: Analysts expect growth in personal loan book to remain robust, taking the total loan book to Rs 9.61 trillion

Erratic rainfall may lead to higher inflation in near term: BoB research

Economics research department of Bank of Baroda (BoB) said that erratic rainfall across the country has resulted in lower 'kharif' sowing this year which is likely to translate into higher inflation in the near term. A report prepared by the department said that rainfall has been six per cent above the long-period average (LPA) till July 30. However, the Eastern and North Eastern region received lower precipitation, while the North Western region recorded higher rainfall. This has resulted in lower 'kharif' sowing this year with pulses registering much lower as compared to last year. "This is expected to translate into a higher inflation in the near term, as IMD expects El Nino conditions will develop in the middle of the monsoon period", the report said. 'Kharif' season is the sowing season from June to the end of October. The country's CPI inflation rate rose to a three-month high of 4.81 per cent, with WPI inflation at 4.12 per cent. The RBI Governor-led six-member monetary p

Digital push minus customers' safety

The bank is apparently working on a clean-up, but that is not enough. The regulator is also investigating the case, but what will come of it?

Make hay while the sun shines

It's time for the government, the majority owner of public-sector banks, to reap the benefit of the rally in bank stocks

Power sector lender REC set to raise $1 bn via loans to fund infra projects

The state-owned company's fundraising via external commercial borrowing is split in two tranches, with the first expected to close this month amounting to $505 million

Bank of Baroda's new chief looks to reduce cost-to-income ratio to 40%

The lower the C/I ratio, the higher the efficiency and profitability of a bank

IIFL Finance raised $175 million in June from HSBC, Union Bank and BoB

With a borrowing of $100 million in March, the total borrowing in 2023-24 (FY24) so far has reached $275 million

Bank of Baroda to divest 49% in credit card arm BOB Financial Solutions

State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd. Currently, it is 100 per cent owned by BoB. The bank has floated a Request for Proposal for roping in a strategic investor, and the process is expected to complete in one year, a senior bank official said. BOB intends to offload up to 49 per cent in a combination of primary and secondary capital from one or multiple investors to create more value in BOB Financial Solutions and take it to the next level of growth, the official said. BOB Financial doubled the acquisition of new credit cards in FY23 by issuing close to 1.2 million credit cards compared to 0.5 million a year ago. "Retail spends too more than doubled compared to FY 2022, clocking approximately Rs 17,300 crore (compared to Rs 7,000 crore in FY 2022)," BoB said in its annual report. At the same time, the net profit of the NBFC also more than doubled to Rs 24.62 crore against Rs 10.07 crore in t

Lenders set to clear Rs 400 crore to bring Go First back on runway

Go First plans to operate around 150 daily flights with 22 aircraft. The airline also plans to operate charter flights for defence forces in the initial phase