RBI lifts ban from Bank of Baroda App: Reserve Bank of India (RBI) had banned Bank of Baroda’s mobile app Bob World 7 months ago. Now RBI has removed this restriction. This means that Bank of Baroda customers can now easily avail banking services through this app.
Bank of Baroda issued a notification related to this. In this notification, the bank said that the Central Bank, in its letter dated 8 May 2024, has ordered to lift the ban on BOB World with immediate effect. Now banks can freely contact customers through BOB World.
RBI had taken action against BOB World in October last year.
Why was Bob World banned?
According to media reports, Bob World was tampering with the accounts of its customers. BOB World App linked the mobile number to the app without customer approval. For this reason, RBI took action against Bob World in October 2023.
Action will be seen on Bank of Baroda shares
Experts say that the effect of the relief given by RBI will be seen on the shares of Bank of Baroda today. On Wednesday, the bank’s shares closed at Rs 262.90 per share with a rise of 1 per cent.
In the last 6 months, the bank’s shares have given a return of 36.22 percent. At the same time, the bank’s shares have given a return of 47.82 percent in one year.
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