Digital Banking Units: Bank of Baroda, one of the top public sector banks in India, opened at least 8 DBUs as part of the initiative that PM Narendra Modi announced.
The CBI has alleged that the department of forests and wildlife, government of Delhi, had deposited its surplus funds of Rs 223 crore to Bank of Baroda, Paharganj branch, under Fixed Deposit Receipt (FDR) in the name of ''Ridge Management Board Fund''.
The Reserve Bank on Wednesday announced to hike the benchmark repo rate -- the short term lending rate it charges to banks -- by 0.40 per cent to 4.40 per cent with immediate effect.
The bank's home loan rates start at 6.75 per cent and car loan rates at 7 per cent. It has also waived off processing fee on home loans.
The customers can continue their banking services from their home in order to maintain the COVID-19 norms at the bank branches.
Bank of Baroda home loan rates start at 6.75 per cent and car loan rates at 7 per cent, mortgage loan at 7.95 per cent and education loans at 6.75 per cent.
In a major banking fraud, prominent banks in the country have been cheated of over 500 crore rupees. The Central Bureau of Investigation (CBI) has registered two separate cases relating to the bank frauds.
Bank of Baroda had made certain changes with effect from November 1, 2020, with regard to the number of free cash deposits and withdrawals per month. Opposition political parties had also protested against the move.
The bank in a release said women borrowers will get further concession of 5 basis points in rate of interest over and above this reduction for such loans. The new rates are effective from November 1.
With the cut in the external benchmark repo linked rate, all retail loans of the bank would get automatically adjusted. The customers availing home loan, mortgage loan, car loan, education loan, personal loan and all other retail loan products could avail of this benefit.
Bank of Baroda (BOB) will start charging its customers for transactions beyond the prescribed limits from today. Names of other banks like Bank of India, PNB, Axis Bank and Central Bank are also emerging in reports, but they are yet to take a final call on the matter.
Qualified Institutional Placement (QIP) would be the most preferred way and public sector banks are likely to take a call on taking this route after finalisation of their second quarter results, merchant banking sources said.
Banking Services Rules Changes: In order to give people some relief due to COVID-19 pandemic, the government had relaxed some rules of financial services like transaction charges after exhausting free cash withdrawal limit on ATM, minimum account balance. The new banking services rules have set in from today.
State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government.
Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply. The NPA of Bank of Baroda (BoB) rose from Rs 11,876 crore at March-end 2014 to Rs 73,140 crore at December-end 2019, the RTI reply showed.
The bank has taken steps for BCs' financial security, in terms of ex-gratia payment of Rs 10 lakh to the nominee in case of loss of life due to COVID-19, and health insurance facility of Rs 60,000 to each active BC, it said in a statement.
State-owned Bank of Baroda on Thursday announced to cut marginal cost of funds based lending rate by 0.15 per cent across all tenors, which will bring down cost of consumer loans.
In the wake of COVID-19 pandemic, public sector lender Bank of Baroda has launched "Baroda Personal Loan COVID 19" for its existing retail loan customers (home loan, auto loan & loan against property).
Bank of Baroda on Monday said it has slashed the interest rate on loans for retail, personal and Micro, Small and Medium Enterprises (MSMEs) to 7.25 per cent with effect from March 28.
Finance Secretary Rajiv Kumar on Wednesday inaugurated Baroda Startup Banking, an initiative aimed at making the bank a preferred banking partner for the start-up community and establishing connect with at least 2,000 start-ups over the next two years.
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