RBI lifts restrictions on Bob World to onboard customers

Reserve Bank of India (RBI), vide its letter dated 8th May 2024, conveyed to Bank of Baroda its decision to lift the above mentioned restrictions on Bob World with immediate effect, as such the bank is free to onboard customers through Bob World application in accordance with the applicable guidelines and extant laws / regulations.

The Bank will now resume onboarding new customers in the Bob World application. The Bank remains committed to ensure adherence and compliance of regulatory guidelines.

RBI had earlier directed Bank of Baroda to suspend, with immediate effect, any further onboarding of customers onto its 'Bob World' mobile application, based on certain supervisory concerns that RBI observed in the Bank's mobile banking onboarding processes.

Shares of Bank of Baroda was last trading in BSE at Rs. 262.70 as compared to the previous close of Rs. 259.20. The total number of shares traded during the day was 596047 in over 6782 trades.

The stock hit an intraday high of Rs. 266.25 and intraday low of 258.40. The net turnover during the day was Rs. 156970707.00.

Source : Equity Bulls

Keywords

BankofBaroda INE028A01039 RBI Restrictions Removed BobWorld