Page 8 - Bank Of Baroda

Bank of Baroda launches green term deposit scheme with 7.15% interest

The scheme offers annual interest rates, ranging from 6.75% for a tenure of 12 to 18 months to 7.15% for 777 days

BoB announces special offers for female account holders on Women's Day

State-owned Bank of Baroda on Thursday announced special offers for its women account holders on the occasion of International Women's Day. International Women's Day is celebrated on March 8. This offer is applicable for accounts, either a BoB Mahila Shakti Savings Account or a BoB Women Power Current Account, opened till June 30, 2024, and loan facilities availed till December 31, 2024, Bank of Baroda (BoB) said in a statement. These women-centric accounts come with a bundle of offers exclusively for women, including up to 25 basis points interest rate concession on retail loans (concession of 0.25 per cent on two-wheeler loans, 0.15 per cent on education loans, 0.10 per cent on auto loans, home loans and mortgage loan). Besides, there would be a complete waiver of processing charges on retail loans (including personal loans) and a 50 per cent discount on annual safe deposit locker charges, it said. "On this International Women's Day, we are pleased to extend our support to women

Axis Bank set to tap infrastructure bond market after 2 years: Report

Infrastructure bonds are issued to finance long-term development projects

Bank of Baroda reduces floating rate car loan by 65 basis points to 8.75%

The Mumbai-based public sector lender also offers a fixed rate of interest option on Baroda Car Loans, starting at 8.85 per cent per annum

CBI court convicts Bank of Baroda manager after 27 years of chargesheet

A special CBI court in Mumbai has convicted a manager of the Bank of Baroda in two separate cases after 27 years of charge sheet for causing a total loss of over Rs 15 crore to the bank, officials said on Monday. The CBI had charge-sheeted Ramchandra Shridhar Joshi, then Chief Manager posted in Walkeshwar Road Branch, Mumbai, in 1996 in two cases -- for causing loss of Rs 10.50 crore and Rs five crore -- by fraudulently diverting bank's money to accused conspirators, the agency said in a statement. The central probe agency had taken over the probe in 1994 and had filed a charge sheet in both cases in 1996, it said. After the completion of the trial, the special CBI court sentenced him to under two years rigorous imprisonment with a fine of Rs three lakh in the first case and one year imprisonment with a fine of Rs 1.37 lakh in the second case. "The case against two charge sheeted accused was abated due to their death during trial while another accused was discharged," a CBI ...

India's GDP to grow at around 6.75-6.8% in FY25, says Bank of Baroda

The International Monetary Fund has projected the Indian economy to grow at 6.7%

BoB raises Rs 2500 cr via Tier-II bonds at 7.57%, surpasses mkt estimates

Robust demand from investors for long tenure paper due to softer rate expectation

SBI, BoB, PSB: Track these levels while riding the rally in PSU Banks

The Nifty PSU Bank index was the top performing sector post Interim Budget on Thursday; the index was up almost 12 per cent in the last four days.

BoB Q3 results: PAT up 19% at Rs 4,579 cr; to raise upto Rs 2,500 cr in Q4

Its Capital Adequacy Ratio stood at 14.72 per cent with Common Tier I Capital of 11.11 per cent at the end of December 2023

BoB Q3 results: Profit up 19% at Rs 4,579 cr, total income at Rs 31,416 cr

State-owned Bank of Baroda (BoB) on Wednesday posted a 19 per cent increase in profit at Rs 4,579 crore for third quarter ended December 2023. The bank had earned a net profit of Rs 3,853 crore in the same quarter a year ago. Total income increased to Rs 31,416 crore during the quarter under review from Rs 27,092 crore in the same period last year, BoB said in a regulatory filing. Interest income of the bank rose to Rs 28,605 crore from Rs 23,540 crore in the third quarter of previous fiscal. Gross Non-Performing Assets (NPAs) of the bank declined to 3.08 per cent of gross loans by the end of December 2023 from 4.53 per cent a year ago. Similarly, net NPAs or bad loans came down to 0.70 per cent from 0.99 per cent at the end of third quarter of the previous fiscal. However, Capital Adequacy Ratio of the bank moderated to 14.72 per cent as against 14.93 per cent at the end of December 2022. During December quarter FY24, the bank made a contingent provision of Rs 50.49 crore in re

Bank of Baroda to report Q3FY24 results on Jan 31; Here's what to expect

Bank of Baroda news: Higher cost of deposits could put pressure on net interest margins, brokerages pointed out in their result preview report.

Stocks to Watch today: Bajaj Auto, Tata Steel, Tech M, TVS Motor, IOC, BoB

Stocks to watch on Thursday, January 25, 2024: Among companies announcing Q3 results yesterday, Tata Steel reported a turnaround while IOC and Ceat postged a 10-fold and 5-fold jump in net profit.

BoB raises Rs 5,000 cr via infra bonds; completes Rs 10,000 cr target

The coupon was fixed at 7.57 per cent for the 10-year paper. Bond market sources said the initial guidance for the coupon was 7.63-7.64 per cent

Bank of Baroda to raise up to Rs 5,000 cr via infra bonds in Jan: Bankers

The state-run bank is likely to invite bids from bankers and investors for the proposed issue this month, they said

BoB's new deposit scheme offers 7.1-7.6% interest on short-term deposits

Public sector lender Bank of Baroda on Monday announced a new deposit scheme offering interest payments in the range of 7.1-7.6 per cent per annum. Bank of Baroda in a statement said its special short-term retail deposit scheme offers an interest rate of 7.60 per cent annually for senior citizens and 7.10 per cent for others. The scheme opened on Monday and is applicable on retail deposits below Rs 2 crore. The bank had been offering 6.25 per cent for 271 days bulk deposits earlier. Existing and new customers of the bank can open this bulk deposit scheme, called the BoB360, at any branch, online or through the mobile app. Banks are offering higher interest on deposits as more and more people are investing in mutual funds and stock markets which are offering better returns than bank deposits. The flight of money out of the banking system can lead to asset-liability mismatches in banks' books. This had the Reserve Bank recently warning banks about a likely crisis as when the policy

Indian Bank to float operations support subsidiary, aims to optimise cost

Two large public sector banks - State Bank of India and Bank of Baroda -- have already formed such units for servicing customers in rural and semi-urban areas

States lag Centre in capex push so far in FY24: CAG-Bank of Baroda data

Centre had allotted Rs 1.3 trillion for FY24 under the interest-free loans scheme for capital investment by states

PNB hikes MCLR, Union Bank withdraws festive discount on vehicle loans

A PNB executive said there is intense competition for mobilising resources for which banks have and are raising deposit rates, increasing the cost of funds

REC, Bank of Baroda sign MoU to finance power, infra and logistics projects

The collaboration aims to catalyse transformative projects that will positively impact communities and drive socio-economic progress

REC, Bank of Baroda join hands to finance power, infra, logistics projects

State-owned REC Ltd has inked an initial pact with Bank of Baroda to jointly offer loans for power, infrastructure and logistics projects in India over the next three years. By pooling resources and expertise, both entities endeavour to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide, a power ministry statement said. According to the statement, REC has signed a Memorandum of Understanding (MoU) with Bank of Baroda to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years. The MoU was signed on Wednesday in the presence of Vivek Kumar Dewangan, Chairperson and Managing Director of REC, and Debadatta Chand, Managing Director & CEO of Bank of Baroda, along with Lalit Tyagi, Executive Director at Bank of Baroda. "By harnessing synergies between REC's expertise in the power sector and Bank of Baroda's financial prowess, we aim to catalyse .