Page 5 - Bank Of Baroda

States lag Centre in capex push so far in FY24: CAG-Bank of Baroda data

Centre had allotted Rs 1.3 trillion for FY24 under the interest-free loans scheme for capital investment by states

PNB hikes MCLR, Union Bank withdraws festive discount on vehicle loans

A PNB executive said there is intense competition for mobilising resources for which banks have and are raising deposit rates, increasing the cost of funds

REC, Bank of Baroda sign MoU to finance power, infra and logistics projects

The collaboration aims to catalyse transformative projects that will positively impact communities and drive socio-economic progress

REC, Bank of Baroda join hands to finance power, infra, logistics projects

State-owned REC Ltd has inked an initial pact with Bank of Baroda to jointly offer loans for power, infrastructure and logistics projects in India over the next three years. By pooling resources and expertise, both entities endeavour to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide, a power ministry statement said. According to the statement, REC has signed a Memorandum of Understanding (MoU) with Bank of Baroda to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years. The MoU was signed on Wednesday in the presence of Vivek Kumar Dewangan, Chairperson and Managing Director of REC, and Debadatta Chand, Managing Director & CEO of Bank of Baroda, along with Lalit Tyagi, Executive Director at Bank of Baroda. "By harnessing synergies between REC's expertise in the power sector and Bank of Baroda's financial prowess, we aim to catalyse .

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Stocks to watch on Friday, December 29, 2023: Tata Consumer, Tata Coffee fixes merger date; Innova Captab to debut; PNB board okays Rs 7,500 crore fund raise and more such stocks in the news today.

Bank of Baroda hikes domestic retail term deposit rates upto 125 bps

Aims to increase share of short-term retail deposits

Bank of Baroda raises Rs 2,500 crore through basel-III tier-II bonds

The bank received a total of 88 bids amounting to Rs 6,803 crore, according to a note by the bank

Bank of Baroda to raise up to Rs 2,500 cr via Basel III compliant bonds

Public sector lender Bank of Baroda on Friday said it plans to raise up to Rs 2,500 crore by issuing Basel III compliant bonds. The 'Capital Raising Committee' has approved a proposal to raise tranche I of Basel III compliant Tier II bonds with a base issue size of Rs 1,000 crore with a green-shoe option to retain oversubscription of up to Rs 1,500 crore, it said in a BSE filing. Under Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes. The bank's shares were trading at Rs 219.20 apiece on BSE, down 0.36 per cent over the previous close. The stock had touched a 52-week high of Rs 224.30 on Thursday.

Bank of Maharashtra raises Rs 259 cr at 7.99% through tier-II bonds

The issue had a base size of Rs 250 crore and a greenshoe option of Rs 750 crore

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Stocks to Watch on December 13, 2023: PE giant Bain Capital is likely to sell up to 1.1 per cent stake in Axis Bank via a block deal, reported Moneycontrol

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Stocks to watch on Thursday, November 30, 2023: Debutants Tata Technologies, Gandhar Oil Refinery and Fedbank Financial Services likely to hog the limelight in trades today.

BoB to raise upto Rs 5,000 cr via 1st tranche of infrastructure bond

The bank had said that it will use the amount to fund business growth

RBI slaps penalty on Citibank, Bank of Baroda, IOB for violating norms

On Bank of Baroda, RBI said the lender failed to ensure accuracy and integrity of data on large exposures submitted to RBI with respect to some accounts

RBI slaps penalties totalling Rs 10.34 cr on Citibank, BoB, and IOB

The Reserve Bank on Friday imposed penalties totalling Rs 10.34 crore on Citibank, Bank of Baroda, and Indian Overseas Bank for contravention of various regulatory norms. The highest penalty of Rs 5 crore has been imposed on Citibank NA for non-compliance of norms related to depositor education and awareness fund scheme, and code of conduct on outsourcing of financial services, the RBI said in a statement. A fine of Rs 4.34 core was imposed on the state-owned Bank of Baroda for violation of certain directions related to the creation of a central repository of large common exposures, and others, another release said. Chennai-based public sector lender Indian Overseas Bank was slapped with a Rs 1 crore fine for contravention of directions concerning loans and advances. In all three cases, the Reserve Bank of India said, penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks

Banks focusing on client acquisition, less on grievance redress: RBI's Rao

The deputy governor also said that an excessive exposure to risk within banks and financial institutions can lead to catastrophic outcomes if not effectively managed

Audit report of 'bob World' is in progress; RBI decision to impact capital

In October, RBI had ordered Bank of Baroda (BoB) to suspend further customer onboarding on its 'bob World' mobile app with immediate effect

Bank of Baroda yet to complete forensic audit on mobile app fraud: Official

Leading public sector lender Bank of Baroda is yet to complete the forensic audit into the recent graft allegations against some of its key employees of its mobile app Bobworld, a senior bank official said on Thursday. "We are still working on the forensic audit as the central bank is still doing some more due diligence on the app Bobworld," Joydeep Dutta Roy, an Executive Director of the bank, told reporters on the sidelines of the two-day national banking summit organised by IBA and Ficci. On October 10, the Reserve Bank of India (RBI) banned the lender from on-boarding new customers on its mobile app after finding certain material supervisory concerns. "The Reserve Bank has directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers on to the Bobworld mobile application," the central bank had said in a statement. The action, the RBI had said was based on certain material supervisory concerns observed in the manner of onboarding of their .

Bank of Baroda plans to raise up to Rs 15,000 crore through bonds

State-owned Bank of Baroda (BoB) on Saturday said it proposes to raise up to Rs 15,000 crore via bonds to fund business growth. The capital raising committee of the bank in its meeting held on Saturday has approved the issuance of Rs 2,000 crore Tier II/sub debt bond with the greenshoe option to raise another Rs 3,000 crore totalling Rs 5,000 crore (10 years with call option at the end of 5 years), BoB said in a regulatory filing. The bank has further decided to issue Infrastructure Bonds amounting to Rs 2,000 crore with a greenshoe option to raise an additional Rs 8,000 crore totaling the issue size of Rs 10,000 crore (tenure up to 7 years), it said.

Bank of Baroda stock correction offers an opportunity for value investors

Recoveries from written-off loans were good at Rs 1,230 crore, and trading gains were at Rs 300 crore, along with a revaluation of investments of Rs 180 crore

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Stocks to watch on Monday, November 06, 2023: Shares of PSU Banks are likely to hog the limelight following Q2 results announced by major banks over the weekend.