Page 7 - Bank Of Baroda

Bank of Baroda aims to double tech team headcount to 3,000 by end of FY26

State-owned Bank of Baroda is aiming to double its in-house technology team headcount to 3,000 in the next two years, a top official has said. The new additions to the current team strength of 1,500 employees will be done both through the regular hiring processes and lateral hires of specialist talent, Debadatta Chand, its managing director and chief executive officer told PTI recently. "In the next two years, we will double the number of people in our IT team," Chand said after the announcement of its March quarter earnings. Recently, the Reserve Bank of India has taken stringent action on banks for shortfalls in technology architecture which impacted the ability to execute transactions. Apart from the 1,500 in-house workers, there are also contractual employees engaged by the bank in the IT function, Chand said. The bank is wanting to hire contemporary talent as part of the efforts to significantly up its strength of IT professionals, he said. The lateral talent will be across

Bank of Baroda, Yes Bank, GE Power among top stocks to track on June 21

As of 6:39 AM, GIFT Nifty futures showed a slight increase, trading 7 points higher at 23,589.5 from their previous close

Abki baar Sensex 80,000 paar? Here's what analysts said on market outlook

On the technical front, too, analysts remain bullish on the markets and suggest the Sensex is set to reach higher levels in the months ahead.

Nifty PSU Bank index zooms 9%; SBI, Central Bank, BOB rally up to 12%

India's banking system continues to ride the good economic growth momentum, well supported by recent structural improvements in the system.

Finance Ministry asks PSBs to review their IT disaster preparedness

Initially, the government directed major banks such as SBI, BOB and Canara Bank to assess their disaster recovery systems

Bank of Baroda Q4 results: Net profit rises 2.3% to Rs 4,886 crore

State-owned Bank of Baroda (BoB) on Friday posted a marginal 2.3 per cent rise in net profit at Rs 4,886 crore for the fourth quarter ended March 2024. The bank had earned a net profit of Rs 4,775 crore in the January-March quarter a year ago. The total income increased to Rs 33,775 crore during the quarter under review, as against Rs 29,323 crore in the same period last year, BoB said in a regulatory filing. Interest income grew to Rs 29,583 crore during the latest three-month period from Rs 25,857 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross Non-Performing Assets (NPAs) moderated to 2.92 per cent of gross advances as of March 31, 2024, from 3.79 per cent at the end of March 2023. Net NPAs also declined to 0.68 per cent of the advances, from 0.89 per cent at the end of 2023. As a result, provisions for bad loans and contingencies eased to Rs 1,302 crore, as against Rs 1,421 crore earmarked during the same quarter a year ago. The Pro

Why did RBI lift ban on Bank of Baroda's mobile app and what does it mean?

he RBI, which regulates India's banking system, found "material supervisory concerns" with Bank of Baroda's customer onboarding process for bob World.

Bank of Baroda Q4 preview: Analysts see dip in profit amid soft loan growth

Bank of Baroda Q4 results preview: Bank of Baroda, which posted a net profit of Rs 4,775.3 crore in the corresponding quarter of the previous fiscal (Q4FY23), may report up to 8 per cent year-on-year

Tata Power, L&T, BoB, VI, and TVS Motor among six stocks to track on May 9

Stocks to watch on Thursday, May 9: inancial services company Citigroup on Wednesday sold shares of telecom company Vodafone Idea for over Rs 233 crore through an open market transaction

Pre-market report: Nifty weekly expiry, PSBs, OMCs on investors radar today

All you need to know before the market opens on Thursday, May 09: Stock specific action likely to dominate trading sentiment today. Check key levels for the Nifty and Bank Nifty by market experts here

RBI removes restrictions on BoB app, allows new customer enrollment

Bank will now on-board customers through mobile app

RBI lifts curb on boarding of new customers on Bob World app after 6 months

The RBI had imposed restriction on state-owned Bank of Baroda (BoB) on October 10, 2023 from onboarding new customers on its mobile app 'Bob World'

Premji Invest inches closer to majority stake acquisition in Nainital Bank

Bank of Baroda, a public sector lender and the majority shareholder holding around 98% of Nainital Bank, is expected to divest its entire stake

BoB World app scam: How FinMin plans to deal with financial frauds

The finance ministry proposes an enhanced KYC procedure and extensive due diligence by banks and financial institutions for onboarding merchants to safeguard customers against cyber risks

Election season may hit govt capital expenditure spending, FDI inflows

In case of FDI, the total FDI inflows was over $50 billion in FY20 and its share during the election months of April-May 2019 turned out to be 18.1 per cent

Stocks to Watch today: TCS, Bharti Hexacom, PVR Inox, BoB, Vodafone Idea

Stocks to watch on Friday, April 12, 2024: TCS to announce March quarter results today; likely to set the tone for the IT sector; Bharti Hexacom to debut.

Bank of Baroda hikes lending rates by 5 basis points across three tenures

The one-year MCLR has risen to 8.85%, while the six-month and three-month MCLR rates have been increased to 8.65% and 8.45%, respectively

PNB reports 11.5% loan growth in quarter ending March, BoB's up by 12.4%

State-owned Punjab National Bank (PNB) on Friday said it has posted a credit growth of 11.5 per cent at Rs 9.85 lakh crore for the March quarter. Total advances were Rs 8.84 lakh crore at the end of March 31, 2023, PNB said in a regulatory filing. The lender reported a 7 per cent increase in total deposits to Rs 13.70 lakh crore as against Rs 12.81 lakh crore at the end of the fourth quarter of the previous financial year. Total business of the bank rose 8.8 per cent to Rs 23.56 lakh crore as compared to Rs 21.65 lakh crore at the end of March 31, 2023. The Credit Deposit (CD) ratio increased to 72 per cent at the end of March 31, 2024 as against 69.1 per cent in the year-ago period. Another public sector lender Bank of India reported a credit growth of 13.56 per cent at Rs 5.86 lakh crore for the March quarter. The outstanding credit was Rs 5.15 lakh crore at the end of March 31, 2023, Bank of India said in a separate regulatory filing. The total deposit of the bank rose 10.20

India's Apr-Feb fiscal deficit at Rs 15.01 trn, hits 86.5% of FY24 target

The Centre's fiscal deficit is estimated at Rs 17.34 trillion for FY24

Bank of Baroda wins co-branding rights for three Delhi Metro stations

State-owned Bank of Baroda (BoB) on Tuesday announced that it has acquired the co-branding rights for three stations of Delhi Metro. These stations are Inderlok, South Extension and Rajouri Garden. Delhi Metro Rail Corporation (DMRC) awarded the naming rights to the bank for a period of 10 years, beginning from 2024, BoB said in a statement. In addition to the exclusive co-branding rights, the bank will get a dedicated space for branding, display of products and installation of an ATM/Digital Banking Unit (DBU)/ kiosk to serve customers, it said. Meanwhile, the bank's executive director Ajay K Khurana inaugurated the new station branding at Inderlok Metro station. The Delhi Metro is India's largest and busiest metro rail system with daily ridership of more than 60 lakh, it claimed.