RBI gave big relief to Bank of Baroda, customers will get this benefit

‘Bob World’ Mobile Application: The financial institution mentioned that now it will begin including new customers on the Bob World app once more. Along with this, it mentioned that it’s dedicated to guaranteeing compliance and adherence to regulatory pointers.

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‘Bob World’ Mobile Application: The Reserve Bank of India (RBI) on Wednesday allowed Bank of Baroda to add new customers by way of the ‘Bob World’ utility after about seven months. RBI had stopped the general public sector financial institution from including new customers by way of its cellular app ‘Bob World’ on October 10, 2023. The transfer was taken following oversight considerations.

Bank of Baroda mentioned in a communication despatched to the inventory alternate, ‘We want to inform that the RBI vide its letter dated May 8, 2024 has knowledgeable the Bank of its determination to take away the above talked about restrictions on Bob World with quick impact. Is. The Bank is now free to have interaction customers by way of this app in accordance with the relevant pointers and present legal guidelines or laws.

The financial institution mentioned that now it will begin including new customers on the Bob World app once more. Along with this, it mentioned that it’s dedicated to guaranteeing compliance and adherence to regulatory pointers.

Last week, RBI had additionally eliminated the ban on Bajaj Finance from giving loans by way of Ecom and Insta EMI playing cards. Earlier, the Reserve Bank had banned personal sector Kotak Mahindra Bank from including new customers by way of on-line and cellular banking and issuing new bank cards.

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