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HomePersonal FinanceRBI Issued New Order: Big news! Bank of Baroda customers will not...

RBI Issued New Order: Big news! Bank of Baroda customers will not be able to do this work, RBI has banned

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RBI Issued New Order: Big news! Bank of Baroda customers will not be able to do this work, RBI has banned. RBI has banned adding new customers on Bank of Baroda’s ‘BoB World’ mobile app. After this order, new customers will not be able to join the ‘Bob World’ app.


RBI: Reserve Bank of India (RBI) has taken major action against Bank of Baroda. RBI has banned adding new customers on Bank of Baroda’s ‘BoB World’ mobile app. BoB has been banned from adding new customers with immediate effect. After this order, new customers will not be able to join the ‘Bob World’ app.

RBI said in a tweet, action has been taken against Bank of Baroda under Section 35A of the Banking Regulation Act, 1949. RBI directed Bank of Baroda to suspend further entry of its customers on ‘Bob World’ mobile application with immediate effect.

This action is based on some material concerns we observed about the way we engage our customers on this mobile application. Further participation of the Bank’s customers on the ‘Bob World’ application will be subject to rectification of the deficiencies observed to the satisfaction of RBI and strengthening of related processes by the Bank. The bank has been directed to ensure that already connected ‘Bob World’ customers do not face any problem due to this suspension.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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