After a brief pause, the Reserve Bank of India (RBI) on Wednesday, May 8 lifted the restriction imposed on Bank of Baroda’s ‘Bob World’, a mobile application.
Earlier, the RBI has asked the bank to halt any new customer sign-ups due to concerns about the onboarding process.
After the RBI’s recent decision, the bank can now resume adding new customers through the Bob World app, following all the rules and regulations laid out by the authorities.
“Now, We wish to inform that the RBI, vide its letter dated 8th May 2024, conveyed to the Bank 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,” Bank of Baroda added in the regulatory filing.
Bank of Baroda shares
The shares of Bank of Baroda on Wednesday at 3:30 pm IST closed at Rs 262.90, up by 1.49 per cent.
(This is a Developing story.)
