RBI orders Bank of Baroda to suspend onboarding customers on bob World app
1 year, 2 months ago

RBI orders Bank of Baroda to suspend onboarding customers on bob World app

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Tuesday ordered state owned lender Bank of Baroda to suspend further onboarding new customers on “bob World”, its mobile banking application. “Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the ‘bob World’ mobile application. This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application,” the central bank said in a press release. The bank has been further directed to ensure that already onboarded ‘bob World’ customers do not face any disruption on account of this suspension,” said the central bank.

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RBI lifts restrictions on adding customers on Bank of Baroda’s mobile app
7 months, 2 weeks ago

RBI lifts restrictions on adding customers on Bank of Baroda’s mobile app

Live Mint  

The Reserve Bank of India on Wednesday lifted restrictions imposed on Bank of Baroda in October last year, allowing the public sector lender to onboard customers to its mobile banking app, bob World. “We wish to inform that the RBI, vide its letter dated 8 May 2024, conveyed to the bank its decision to lift the above mentioned restrictions on …

RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds
8 months, 1 week ago

RBI ban on Bank of Baroda World app: Finance ministry's likely plan on frauds

Hindustan Times  

Union finance ministry may propose stricter measures to protect citizens from cyber fraud, it was reported. This comes after an increase in incidents of frauds, including the Bank of Baroda World app scam, the Times of India reported citing sources who “mentioned a recent inter-ministerial meeting focused on bolstering cybersecurity and tackling financial fraud”, it noted. In October 2023, the …

Bank of Baroda board meeting tomorrow to discuss fundraising
1 year, 1 month ago

Bank of Baroda board meeting tomorrow to discuss fundraising

Live Mint  

Bank of Baroda has scheduled a meeting of the Capital Raising Committee tomorrow, November 18, 2023, to discuss and finalise the issuance of Tier I and Tier II debt capital instruments and long-term bonds for the financing of infrastructure and affordable housing within the board-approved capital raising plan. “We advise that the Meeting of the Capital Raising Committee of our …

Bank of Baroda denies officials inflated mobile app registrations
1 year, 5 months ago

Bank of Baroda denies officials inflated mobile app registrations

Live Mint  

Mumbai: India’s second largest state-owned lender Bank of Baroda on Tuesday denied its officials used phone numbers of strangers to inflate registrations on its mobile banking app bob World. “The bank has a current mobile banking activated user base of 30 million customers, all of whom are linked to a unique mobile number seeded with their bank account,” a spokesperson …

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