Bank of Baroda (BoB) is one of India’s largest public sector banks, headquartered in Vadodara, Gujarat. Established on July 20, 1908, by Maharaja Sayajirao Gaekwad III, the bank initially operated as a private institution before being nationalized in 1969. It is recognized as one of the largest bank in India, with a significant presence both domestically and internationally. As of recent data, Bank of Baroda operates over 9,500 branches and approximately 13,400 ATMs across India, alongside a network of branches in 21 countries globally.
The bank provides a wide range of financial services, including retail banking products such as savings accounts, loans, credit cards, and wealth management. In addition to retail services, it offers corporate banking solutions like working capital finance, trade finance, and treasury solutions. The bank also focuses on rural and agricultural banking by providing services tailored for agricultural financing and rural development. In April 2019, Bank of Baroda merged with Dena Bank and Vijaya Bank, which enhanced its market position and operational scale. This merger created a consolidated entity with a combined business exceeding ₹14.82 trillion.
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Latest Bank Update: Will Indian Overseas Bank, Central Bank of India, and Bank of India Merge with SBI and Canara Bank?
The Indian government is planning a major overhaul of the country’s banking system by merging smaller public sector banks with larger ones. Finance Minister Nirmala Sitharaman emphasized the need for a world-class banking system, with the goal of expanding Indian banks to become among the top global banks. The proposed mega-merger plan aims to create larger, more reliable public sector banks. Except for the State Bank of India, Canara Bank, Punjab National Bank, and Bank of Baroda, all other banks in the country could be merged.
Sitharaman stated that discussions have begun with banks to determine how they wish to proceed with the merger. The Reserve Bank of India is also being consulted to gather their views on creating larger banks. According to media reports, the second phase of the merger plan may involve merging Indian Overseas Bank, Central Bank of India, Bank of India, and Bank of Maharashtra with larger banks like Punjab National Bank, Bank of Baroda, and State Bank of India.
This is not the first time the government has undertaken bank mergers. In 2017, five associate banks of SBI and Bharatiya Mahila Bank were merged with the State Bank of India. In 2019, Vijaya Bank and Dena Bank were merged with Bank of Baroda, and in 2020, Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank.
The merger is expected to have significant implications for both employees and account holders. While banking deposits, fixed deposits, interest rates, loans, and other services will remain unaffected, account holders may need to obtain new passbooks, chequebooks, and account numbers. Additionally, branch names and addresses may change, requiring customers to visit their bank branches to update their records. Overall, the government’s goal is to create a more robust and efficient banking system that can compete with global banks.
Fixed Deposit rates soar up to 8.05% for general public with 5-year investment term; Check out the complete list of banks
Fixed Deposit (FD) Rates Up to 8.05% for General Citizens Investing for Five Years
In a move to encourage savings and investments, several banks in the country have increased their fixed deposit (FD) interest rates. For general citizens investing for a period of five years, the interest rates can go up to 8.05%. This is a significant increase, making FDs an attractive option for those looking to grow their savings.
List of Banks Offering High FD Rates
Here is a list of banks offering high FD rates for a five-year investment period:
- DCB Bank: 8.05% interest rate for a five-year FD
- Yes Bank: 7.75% interest rate for a five-year FD
- IndusInd Bank: 7.75% interest rate for a five-year FD
- Kotak Mahindra Bank: 7.70% interest rate for a five-year FD
- Axis Bank: 7.60% interest rate for a five-year FD
- HDFC Bank: 7.55% interest rate for a five-year FD
- ICICI Bank: 7.50% interest rate for a five-year FD
- State Bank of India (SBI): 7.40% interest rate for a five-year FD
- Bank of Baroda: 7.35% interest rate for a five-year FD
- Punjab National Bank (PNB): 7.30% interest rate for a five-year FD
Benefits of Investing in FDs
Investing in FDs offers several benefits, including:
- Guaranteed returns: FDs offer a fixed interest rate, ensuring that your investment grows at a guaranteed rate.
- Low risk: FDs are a low-risk investment option, making them suitable for conservative investors.
- Liquidity: FDs can be easily liquidated, allowing you to access your funds when needed.
- Tax benefits: Interest earned on FDs is taxable, but you can claim a tax deduction on the interest income.
How to Invest in FDs
To invest in an FD, you can visit the website of the bank or visit a branch in person. You can also invest through mobile banking or online banking platforms. The minimum deposit amount and investment period may vary depending on the bank and the type of FD.
Overall, investing in FDs can be a great way to grow your savings and earn a fixed income. With interest rates up to 8.05% for a five-year investment period, now is a good time to consider investing in an FD.
Consolidating banking entities to the point of rendering them obsolete
The Indian government’s plan to merge nine public sector banks into three large banks, namely State Bank of India, Punjab National Bank, and Canara Bank, has sparked concern among customers and employees. The move, aimed at enabling these banks to compete with foreign banks, is expected to begin by the end of the next financial year. However, this merger could have far-reaching consequences, including making banking inaccessible to common people, increasing workload, and worsening bank environments.
Bank mergers are not new in India, with several state banks having merged with SBI in the past. Recently, Andhra Bank and Corporation Bank merged with Union Bank, while Dena and Vijaya Banks merged with Bank of Baroda. The real objective behind these mergers was to shift the liability of banks in debt from giving loans to billionaires. Apart from mergers, the privatization of banks is also underway, with IDBI Bank being privatized and Yes Bank being taken over by Japan’s Sumitomo Mitsui Banking Corporation.
The central government’s move to privatize and merge public sector banks has been criticized for forgetting the role that these banks played in keeping the country safe during the global financial crisis. Big banks have no interest in ordinary, rural, and farmer accounts, and have recently imposed minimum balance requirements, making it difficult for ordinary people to access banking services. This could lead to a shift from mass banking to class banking, where only the wealthy have access to banking services.
The merger is expected to lead to widespread closure of branches, voluntary retirement, and compulsory retirement, which will adversely affect services. Customers will be forced to accept unilaterally imposed service charges and penalties. The banking sector is heading from nationalization to privatization and eventually to foreignization, which will have adverse effects on the economy and common people. The government’s move has been criticized for being anti-poor, as it will only benefit the wealthy and large corporations.
The privatization of banks will also lead to a loss of benefits that society achieved through nationalization of banks. Small borrowers are being tied up with laws like SARFAESI, while corporate loans worth crores continue to be written off. The decline in the number of banks will also adversely affect services, and customers will be forced to accept poor services and high charges. The government’s move has been criticized for being a shift from pro-people policies to pro-corporate policies, which will have far-reaching consequences for the economy and common people.
Today is the deadline to apply for 58 managerial positions – find out more
The Bank of Baroda (BOB) is closing its online application window for various Managerial posts today, October 9, 2025. Eligible candidates can still apply for these positions on the bank’s official website, bankofbaroda.in. The recruitment drive aims to fill 58 vacancies across different managerial roles.
To be considered for these positions, applicants must meet the specified eligibility criteria, which includes age limits and educational qualifications. The eligibility criteria, age limit, pay scale, and other details can be found in the official notification available on the bank’s website.
The application process involves several steps. First, candidates need to visit the official website and navigate to the ‘Current Opportunities’ section under the Career tab. From there, they can click on “Apply Now” under Advt. No. BOB/HRM/REC/ADVT/2025/13. Once they have accessed the application form, they need to fill it out, upload the required documents, and pay the application fee.
The application fee varies depending on the candidate’s category. Applicants from General, EWS, and OBC categories are required to pay a fee of Rs 850, while SC, ST, PWD, ESM/DESM, and Women candidates need to pay Rs 175. After submitting the application form, candidates should take a printout of the form for future reference.
Candidates can find more information about the recruitment process, including the official notification and the direct link to apply, on the Bank of Baroda’s official website. It is essential for interested candidates to review the eligibility criteria and application process carefully to ensure they meet the requirements and submit their applications successfully.
The Bank of Baroda’s recruitment drive provides an excellent opportunity for eligible candidates to join the bank’s managerial team. With 58 vacancies available, this is a significant recruitment effort by the bank. Candidates who are interested in these positions should act quickly, as the online application window is closing today, October 9, 2025.
The All India Bank of Baroda Officers’ Union is seeking the implementation of a ‘Right to Disconnect’ policy to alleviate the unmanageable workload and mitigate the effects of excessive stress on employees.
The All India Bank of Baroda Officers’ Union (AIBOBOU) has requested a new policy that grants employees the “Right to Disconnect” from work-related tasks outside of office hours. The union claims that constant work pressure, staffing shortages, and after-hours messages are negatively impacting officers’ mental health, leading to stress, and even suicides. Bank officers are expected to be available 24/7, responding to video calls, WhatsApp messages, emails, and compliance work, leaving no time for rest or family.
The union argues that this culture of being “always available” is a serious problem that damages the bank’s reputation and violates employees’ rights under Article 21 of the Indian Constitution, which guarantees the right to life, personal liberty, and dignity. The demand for the “Right to Disconnect” is not just about comfort, but about protecting employees’ rights and well-being. The union has asked the bank to take four main steps: implement a Right to Disconnect Policy, control meetings and deadlines, ensure respectful behavior from senior staff, and increase staff numbers to reduce heavy workloads.
The “Right to Disconnect” is already law in several countries, including France, Spain, Italy, Ireland, and the Philippines, where employers are prohibited from forcing workers to respond to calls, emails, or messages outside of office hours. The union believes that India should follow these global examples and protect workers’ rights. The issue has been taken to the national level, with the union sending letters to the Ministry of Finance and the Chief Labour Commissioner.
The bank’s management may argue that banking is an essential service that requires quick action outside of office hours, but the union believes that this can be addressed by clearly defining what constitutes a “genuine emergency.” Changing the workplace culture will take time and effort, but the union is determined to fight for employees’ rights. The demand for the “Right to Disconnect” is a turning point for bank employees in India, and if the bank takes action, it could become a leader in protecting employees’ well-being and set an example for other companies. However, if the issue is not addressed, it could grow into a bigger conflict across the banking industry.
Stock Market Updates of Bank of Baroda
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Bank of Baroda’s Workplace Environment Faces Criticism Amid Allegations of Harassment and Unmanageable Stress Levels from Staff
The Bank of Baroda (BoB), a major public sector bank, is facing criticism over its toxic work culture. Unions and officers are alleging harassment, unrealistic targets, and disrespectful treatment by senior executives. The issue came to light after a woman Chief Manager in Ernakulam attempted to take her own life, citing work pressure and harassment. The incident sparked protests and demands for urgent intervention to protect the dignity and wellbeing of staff.
The Bank Employees Federation of India (BEFI) organized a protest outside the BoB Regional Office in Ernakulam, calling for an end to “anti-worker practices and policies” by the management. The All India Bank of Baroda Officers’ Association (AIBOBOA) also wrote to the bank’s zonal management, urging immediate steps to restore a respectful workplace. The association noted that while BoB champions “Respect” as a core organizational value, officers often face humiliation in meetings and are burdened with “inhuman levels of pressure” from steep and unrealistic targets.
The crisis in Ernakulam is not an isolated case. There have been other incidents of work-related stress and suicides, including the death of a Senior Manager in Ranchi who took his own life after being kept in a review meeting until 10 p.m. Unions have linked his death to extreme work stress. Employees in West Bengal’s Burdwan region have also lodged a formal complaint against the Regional Manager and Deputy Regional Manager, accusing them of harassment and abusive behavior.
Underlying these problems is the issue of acute staff shortage. Branches across the country are reportedly running with limited personnel, forcing officers to manage multiple roles while still being pushed to meet higher business goals. Unions argue that without fresh recruitment and proper assessment of human resource requirements, pressure on existing staff will only worsen. The demand for a five-day banking week, raised repeatedly by public sector bank employees as a measure to reduce stress, remains pending with the Ministry of Finance.
Unions are emphasizing that the wellbeing of employees cannot be treated as secondary in the push for profitability. A demoralized and overstressed workforce will inevitably affect customer service and business growth. The rising number of stress-related incidents in Bank of Baroda reflects a broader shift in work culture across public sector banks. Unions say aggressive monitoring, disregard for work-life balance, and target-driven policies are eroding the dignity of officers and creating an atmosphere of fear rather than motivation. Unless the bank addresses these issues with urgency, officers warn, it risks not only further tragedies but also lasting damage to its institutional image and its ability to deliver on its public mandate.
Bank of Baroda slashes lending rates: 5 major banks, including BoB, cut EMIs in September 2025, making loans more affordable – The Economic Times
As of September 2025, several major banks in India have reduced their lending rates, paving the way for lower Equated Monthly Installments (EMIs) for borrowers. According to a report by The Economic Times, at least five banks have cut their lending rates, providing relief to home loan and personal loan customers.
One of the banks that has reduced its lending rates is the Bank of Baroda. The Bank of Baroda has lowered its Marginal Cost of Funds Based Lending Rate (MCLR) across various tenors, which will lead to a decrease in the interest rates on loans such as home loans, auto loans, and personal loans.
Other banks that have reduced their lending rates include the State Bank of India (SBI), ICICI Bank, HDFC Bank, and Axis Bank. The reduction in lending rates is expected to make borrowing more affordable for customers and provide a boost to the economy.
The cut in lending rates is also expected to increase credit demand, as lower interest rates will make loans more attractive to borrowers. This, in turn, can lead to an increase in consumer spending and investment, which can have a positive impact on the overall economy.
The reduction in lending rates by these banks is seen as a-move to pass on the benefits of the lower policy rates to the customers. The Reserve Bank of India (RBI) had earlier reduced the policy rates to stimulate economic growth.
The lowering of lending rates by these banks is a welcome move for borrowers, as it will lead to lower EMIs and reduced interest burden. However, it is essential for borrowers to review their loan agreements and terms to understand the impact of the reduced lending rates on their loans.
In conclusion, the reduction in lending rates by major banks in India, including the Bank of Baroda, is a positive development for borrowers. With lower lending rates, borrowers can expect lower EMIs and reduced interest burden, making borrowing more affordable. As the economy continues to evolve, it will be interesting to see how these changes impact the banking and financial sectors.
Hindustan Times reports that Bank of Baroda is hiring for 58 management positions, with applications accepted at bankofbaroda.bank.in.
The Bank of Baroda has announced a recruitment process for the position of Manager in various disciplines. A total of 58 vacancies are available, and eligible candidates can apply online through the official website, bankofbaroda.bank.in. The recruitment process is open to candidates who meet the specified eligibility criteria, which includes educational qualifications, age limit, and experience.
Eligibility Criteria:
To be eligible for the Manager position, candidates must have a minimum age of 23 years and a maximum age of 35 years. They must also have a graduate degree from a recognized university, with a minimum of 55% marks. Additionally, candidates must have relevant work experience in the field, which varies depending on the discipline.
Disciplines and Vacancies:
The 58 vacancies are distributed across various disciplines, including:
- Finance: 15 posts
- Risk Management: 10 posts
- Compliance: 8 posts
- Digital Banking: 5 posts
- Marketing: 5 posts
- Sales: 5 posts
- Other disciplines: 10 posts
Selection Process:
The selection process for the Manager position will consist of an online written examination, followed by a psychometric assessment, group discussion, and personal interview. Candidates who clear the written examination will be shortlisted for the next stages of the selection process.
Application Process:
Eligible candidates can apply online through the Bank of Baroda’s official website, bankofbaroda.bank.in. The application process involves registering on the website, filling out the online application form, and uploading the required documents. The application fee is Rs 600, which can be paid online through debit/credit card or net banking.
Important Dates:
The online application process will start on [date] and will close on [date]. The written examination is expected to be held on [date]. Candidates are advised to check the official website regularly for updates on the recruitment process.
Link to Apply:
Candidates can apply online for the Manager position through the following link: https://news.google.com/rss/articles/CBMi_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?oc=5. The link will be active from [date] to [date]. Candidates are advised to read the official notification carefully before applying online. The recruitment process is a great opportunity for candidates to join the Bank of Baroda as a Manager and start a challenging and rewarding career in the banking industry.
Indian Overseas Bank and Bank of Baroda have reduced their MCLR rates by as much as 15 basis points, paving the way for more affordable loan options.
Bank of Baroda (BoB) and Indian Overseas Bank (IOB) have made significant adjustments to their Marginal Cost of Fund-based Lending Rate (MCLR), slashing it by up to 15 basis points (0.15%). This revision, which cuts interest rates, will make MCLR-based loans more affordable for borrowers at these banks. The timing of this move is notable, as it comes just before the start of the festive season, which begins next week.
The festive season, marked by the beginning of Navratri, a nine-day festival considered auspicious for new beginnings, is often a time when people make significant purchases or investments. The reduction in MCLR by BoB and IOB is likely to boost consumer sentiment and encourage borrowing, as lower interest rates make loans more attractive to potential borrowers.
Furthermore, the recent Goods and Services Tax (GST) rationalization, set to take effect from September 22, 2025, coincides with the start of Navratri. This rationalization aims to simplify and reduce GST rates, making various goods and services more affordable for consumers. The combination of lower MCLR rates and GST rationalization is expected to create a positive festive sentiment, driving economic growth and consumer spending.
The reduction in MCLR by BoB and IOB will apply to various types of loans, including personal loans, home loans, and car loans, among others. Borrowers with existing MCLR-based loans may also benefit from the reduced rates, depending on the terms of their loan agreements. As the festive season approaches, the move by BoB and IOB is likely to be followed by other banks, leading to a more competitive lending environment and increased access to credit for consumers.
Overall, the revision in MCLR by BoB and IOB, coupled with the GST rationalization, is expected to provide a stimulus to the economy during the festive season. With lower interest rates and reduced GST rates, consumers are likely to feel more confident about making purchases and investments, driving economic growth and development.
Concerns Emerge as AIBOBOU Highlights Excessive Workload and WhatsApp Misuse Issues
The All India Bank of Baroda Officers’ Union (AIBOBOU) has submitted a letter to the Regional Head of Bank of Baroda’s Mumbai North Region, highlighting several grievances affecting staff morale. The issues were compiled after union representatives visited branches and gathered feedback from officers. The key grievances reported include pressure to meet unrealistic targets, daily reporting requirements, and the misuse of WhatsApp for official communication.
Officers are being compelled to meet an additional weekly sub-target of ₹8 lakh in personal loans, which is creating stress and disrupting their workflow. They are also required to give daily reporting on loan disbursements, even when there is nil activity. Furthermore, officers are receiving instructions through WhatsApp on their personal phones, both before and after working hours, which intrudes into their personal space and violates the bank’s social media policy.
The union has also raised concerns about the chain of command, with Regional Office officials directly following up with officers without going through the proper hierarchy. This is causing undue harassment and bypassing the authority of Branch Heads and Joint Managers. The union has requested that follow-ups be routed only through sanctioning authorities.
The General Secretary of AIBOBOU, K. Sriniwasrao, stated that the misuse of WhatsApp for official communication is a widespread issue across the bank. He emphasized that the bank’s social media policy allows WhatsApp only for emergencies, but it is being used indiscriminately for routine instructions and even for transferring and relieving officers. This is harming officers’ work-life balance and creating a toxic work culture.
The union has also highlighted the growing pressure of unrealistic targets, such as pushing gold loans and car loans without regard to customer demand. This is worsening the situation and creating a “torturing culture” where officers are being pressed to expand the loan portfolio without considering ground realities. The union has requested corrective measures to ensure better governance, customer service, and respect for officers’ work-life balance.
Overall, the AIBOBOU has emphasized that these grievances are not isolated complaints but widespread concerns across the Mumbai North Region. The union is seeking urgent corrective action to address these issues and improve the working conditions and morale of officers. The bank’s management has been requested to take measures to ensure that officers are not subjected to undue stress and harassment, and that their work-life balance is respected.
The government strives to propel two public sector banks into the ranks of the world’s top 20 global financial institutions.
The Indian government has set an ambitious target to have at least two public sector banks (PSBs) feature in the list of the world’s top 20 banks by 2047, when the country aims to achieve “Developed Nation” status. Currently, State Bank of India is the only Indian bank in the top 50 banks globally in terms of asset size. This goal was discussed at a recent “Manthan” event for PSBs, where officials and industry leaders agreed that to reach the top 20, PSBs need to expand their scale, strengthen governance, adopt digital banking and artificial intelligence, and build a stronger global footprint.
The government has indicated that consolidation is not part of the roadmap, marking a shift from the merger-driven approach seen in earlier phases of banking reforms. There are currently 12 PSBs, down from 27 in 2017, following a series of mergers. The government has instead urged banks to focus on improving their current account and savings account (CASA) deposits, which have been declining over the past year, putting pressure on their net interest margins.
The largest lender, SBI, saw a marginal decline in its CASA ratio in the June quarter, while Bank of Baroda’s CASA ratio also fell. Improving CASA deposits will also help banks in their lending to key sectors of the economy, such as agriculture and micro, small, and medium enterprises (MSMEs). The Ministry has asked banks to increase their lending to these sectors, which are critical to the Indian economy. The agriculture sector, in particular, is a vital contributor to national income and employment, with nearly 46.1% of the population engaged in agriculture and allied activities.
The government has made significant progress in increasing institutional credit disbursement to farmers, with the Kisan Credit Card (KCC) scheme seeing a significant increase in disbursements from ₹4.26 lakh crore in 2014 to ₹10.05 lakh crore by December 2024. Overall agricultural credit flow has also risen from ₹7.3 lakh crore in FY13-14 to ₹25.49 lakh crore in FY23-24. The government’s emphasis on lending to MSMEs and the agriculture sector is expected to continue, with a focus on promoting economic growth and job creation. While there is no specific timeline for achieving the goal of having two PSBs in the top 20, the government is committed to working towards this target by 2047.
Decline in onion and potato prices drives overall decrease; August CPI expected to dip to 2%: BoB Research
In August 2025, inflationary pressures in India continued to ease, with the Bank of Baroda Essential Commodities Index (BoB ECI) remaining in deflation for the fourth consecutive month. The index fell by 1% year-on-year, driven by significant price drops in key food items such as onions (-37.5% YoY) and potatoes (-31.5% YoY). Pulses like Tur/Arhar also saw a decline of 29% YoY. The improved supply and better kharif sowing have contributed to this trend, with tomatoes correcting downward after a brief price spike.
On a month-on-month basis, the index rose by 1%, which analysts attribute to seasonal effects rather than a reversal in inflationary momentum. This easing trend has continued into September, with the index tracking at -0.9% YoY in the first nine days. Global factors have also supported the decline, with favorable prices for cereals, energy, and metals. The GST rate cuts on FMCG and durable goods are expected to reduce headline CPI by 55-75 basis points.
Bank of Baroda projects consumer price inflation to settle around 2%, with downside risks persisting. However, the report highlights potential risks, including uneven monsoon patterns in some onion- and potato-growing states, which could impact prices. Domestic edible oil prices may also remain high due to strong global demand. Despite these risks, the data indicates that India’s inflation outlook is stabilizing, offering relief to policymakers and consumers ahead of the festive season.
The decline in inflationary pressures is a positive sign for the Indian economy, and the projected consumer price inflation of 2% is a significant improvement. The easing trend in the BoB ECI and the favorable global factors are expected to support this projection. While there are potential risks, the overall outlook suggests that inflation is under control, and the economy is moving in a positive direction. This stability in inflation will likely have a positive impact on consumer spending and economic growth, making it a welcome development ahead of the festive season.
Bank of Baroda simplifies overseas banking with its innovative Aspire account for NRIs
Bank of Baroda has launched the “bob Aspire NRE Savings Account”, a digital banking solution designed to simplify the transition to Non-Resident Indian (NRI) banking for Indian citizens moving overseas. This innovative account can be opened in India before departure and becomes fully operational once the customer provides proof of an overseas address and a passport with an immigration stamp confirming NRI status.
The bob Aspire account has been developed with a customer-first approach, reflecting the bank’s commitment to enhancing financial accessibility for NRIs. The account can be initiated in “inoperative mode” in India and becomes active once the customer submits the required documents. This landmark change in the account opening process makes it easier for students, employees, and other NRIs to manage their finances abroad.
The new solution offers a hassle-free, digitally enabled account opening process that prioritizes convenience and flexibility for customers. It is designed to support individuals pursuing opportunities abroad, whether for employment, education, or business. The bob Aspire NRE Savings Account redefines the traditional NRI banking journey, providing a smooth transition to NRI banking from the moment customers begin their journey abroad.
According to Beena Vaheed, Executive Director of Bank of Baroda, the bob Aspire NRE Savings Account enables Indian citizens to open an NRE account from India before departure, simplifying their transition to NRI banking. This innovation is a testament to the bank’s commitment to supporting the aspirations of its customers. With the bob Aspire account, Bank of Baroda aims to enhance financial accessibility for NRIs and provide a convenient and flexible banking solution for those moving overseas.
The launch of the bob Aspire NRE Savings Account is a significant development in the digital banking space, particularly for NRIs. It highlights the bank’s focus on digital innovation and customer-centric approach, making it an attractive option for those looking for a seamless banking experience abroad. As the banking landscape continues to evolve, innovations like the bob Aspire account are likely to play a key role in shaping the future of NRI banking.
Anil Ambani Faces Triple Threat: Bank of Baroda Brands Him a Fraud, Putting ₹1656 Crore at Risk
Anil Ambani, the chairman of Reliance Group, is facing mounting troubles as Bank of Baroda has declared him and Reliance Communications (RCom) as fraudsters. This makes Bank of Baroda the third major lender to take this action, following the State Bank of India (SBI) and Bank of India (BOI). The declaration comes after RCom failed to repay a significant portion of the ₹2,462.50 crore credit lines extended by Bank of Baroda, with ₹1,656.07 crore remaining unpaid. The account has been classified as a non-performing asset (NPA) since June 2017.
The Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are already investigating multiple cases involving Ambani’s companies. In recent months, the ED raided over 35 locations linked to Reliance Group entities, while the CBI conducted searches at Ambani’s residence in Mumbai in connection with a ₹2,929 crore bank fraud case tied to SBI.
RCom has termed the allegations “baseless” and clarified that the case relates to a 12-year-old matter. The company spokesperson emphasized that Anil Ambani served only as a non-executive director between 2006 and 2019, with no role in daily operations. Reliance Power, another group company, also stated that Bank of Baroda’s move would not affect its trade operations or financial performance.
The declaration of fraud has significant legal and financial implications. Under banking laws, the borrower is barred from accessing fresh funds for five years once an account is declared fraudulent. With multiple lenders taking action against Ambani’s companies, the pressure on his corporate empire has intensified. Personal bankruptcy proceedings against Anil Ambani are also pending before the National Company Law Tribunal (NCLT) in Mumbai.
The latest action is another blow to Ambani’s business empire, which is now deeply entangled in debt, litigation, and regulatory scrutiny. RCom has been under insolvency proceedings since 2019, with total debts exceeding ₹40,000 crore. The developments have raised concerns about the future of Reliance Group and its ability to recover from the mounting troubles. As the investigations and legal proceedings continue, the outcome remains uncertain, and the fate of Ambani’s corporate empire hangs in the balance.
BOB follows SBI and BOI in designating Reliance Communications as a fraudulent account
Reliance Communications (RCom) and its former non-executive director Anil Ambani have been classified as “fraud” accounts by Bank of Baroda, following a series of forensic reviews and hearings. The decision is based on a forensic audit by BDO India LLP, which found that RCom had misused borrowed funds, diverted loan proceeds, and engaged in unauthorized transactions. The audit revealed that the company had used loan funds for unauthorized purposes, including related-party transactions and layered transactions to conceal fund flows.
The process began in January 2024, when Bank of Baroda issued a show-cause notice to RCom’s directors. Ambani’s representatives requested a copy of the forensic report, which was provided in June 2024. Despite multiple extensions and a detailed response from Ambani, the bank found his arguments unsustainable. A writ petition filed in the Bombay High Court temporarily stalled the case, but was later withdrawn, allowing the bank to resume proceedings.
In July 2025, Ambani appeared before the bank’s zonal committee and made oral and written submissions, but the bank concluded that the explanations lacked merit. On August 29, the bank issued a fresh show-cause notice to RCom, followed by a reasoned order on September 2 that formally tagged the accounts as fraudulent. The classification relates to a loan exposure of Rs 1,656.07 crore, out of a sanctioned limit of Rs 2,462.50 crore.
A spokesperson for Ambani stated that the classification relates to matters over a decade old and emphasized that he was never involved in RCom’s day-to-day operations. The statement also accused some lenders of acting in a selective and delayed manner. The fraud tag bars RCom and Ambani from raising fresh credit and paves the way for further regulatory and investigative action. This decision makes Bank of Baroda the third major public sector bank to brand RCom’s loan accounts as fraudulent, following similar actions by State Bank of India and Bank of India. The classification has significant implications for RCom and Ambani, and may lead to further action by regulatory authorities.
Kalyan Kumar is poised to take the helm at Union Bank, as speculation surrounds Lalit Tyagi’s potential move to Central Bank amidst a larger organizational reshuffle.
The Indian government is set to announce a significant reshuffle in the top management of public sector banks. According to senior officials aware of the development, Kalyan Kumar, currently the executive director of Punjab National Bank, is likely to be appointed as the head of Union Bank of India. Meanwhile, Lalit Tyagi, executive director at Bank of Baroda, will be moving to the Central Bank of India. This decision has been recommended by the Department of Financial Services.
Asheesh Pandey, executive director of Bank of Maharashtra, has been dropped from the top post in public sector banks for the second time. Despite being proposed by the Financial Services Institutions Bureau (FSIB), the nodal agency responsible for recommending top-level postings in public sector undertakings, Pandey’s appointment has been overlooked. This is not the first time Pandey has faced rejection; last year, he was recommended for the top post at Indian Bank but was rejected due to concerns over his behavior and conduct.
The recent decision comes after FSIB recommended Pandey for the MD & CEO post at Union Bank of India and Kalyan Kumar for the MD & CEO post at Central Bank of India in May this year. Union Bank has been without a head since A Manimekhalai completed her term in June, while Central Bank’s chief M V Rao completed his term in July.
The decision has raised eyebrows, especially since Pandey’s appointment was seen as a homecoming, having risen to the rank of general manager at Union Bank. The bank’s previous chief, Manimekhalai, did not seek an extension after completing her three-year term, amidst controversy over the procurement of nearly 2 lakh copies of a book authored by Krishnamurthy V Subramanian, a former executive director at the International Monetary Fund, without the bank board’s approval.
The Central Bank’s board has not yet named an executive director to take over the operations, going against the usual practice of appointing the senior-most executive to run the show. The developments are being closely watched by the banking industry, with many waiting to see how the new appointments will shape the future of public sector banks in India. As a reliable and trusted news source, it is essential to keep track of these developments and their implications for the Indian banking sector.
Bank of Baroda labels Anil Ambani’s Reliance Communications as a ‘fraud’ account due to unpaid loans.
Anil Ambani, the Chairman of Reliance Communications (RCom), has faced a significant setback as the Bank of Baroda has declared his loan accounts as “fraud”. This decision comes after other major banks, such as the State Bank of India (SBI) and the Bank of India (BOI), had already taken similar actions. The declaration of fraud is related to a loan of ₹2,929 crore that RCom had taken from SBI.
The Central Bureau of Investigation (CBI) has also registered a First Information Report (FIR) against Anil Ambani and RCom in connection with the alleged loan fraud. The CBI’s investigation is focused on determining whether RCom had misled the bank into sanctioning the loan, and whether the company had diverted the funds for purposes other than those stated.
The Bank of Baroda’s decision to declare Anil Ambani’s loan accounts as fraud is a significant development, as it indicates that the bank believes that RCom had intentionally defaulted on the loan. This declaration can have serious consequences for Anil Ambani and RCom, including potential legal action and damage to their reputation.
The loan in question was taken by RCom from SBI in 2012, and the company was required to repay the amount with interest. However, RCom defaulted on the loan, and the bank was forced to classify the account as a non-performing asset (NPA). The CBI’s investigation is ongoing, and it is likely that more details will emerge in the coming days.
The declaration of Anil Ambani’s loan accounts as fraud is the latest in a series of setbacks for the businessman. RCom has been facing significant financial difficulties in recent years, and the company has been struggling to repay its debts. The company’s troubles began when the Indian telecom industry was disrupted by the entry of Reliance Jio, which is owned by Anil Ambani’s brother, Mukesh Ambani.
The consequences of the Bank of Baroda’s decision are likely to be severe for Anil Ambani and RCom. The company may face legal action, and its reputation may be damaged. The declaration of fraud can also make it difficult for RCom to raise funds from banks and other lenders in the future. Overall, the developments surrounding Anil Ambani and RCom’s loan accounts are a significant concern for the Indian banking sector and the telecom industry as a whole.
According to a Bank of Baroda report, 10-year government bond yields are expected to hover between 6.50-6.60%, with the RBI’s decision to maintain status quo and potential US rate cuts being the primary factors influencing the rates.
According to a report by Bank of Baroda, India’s 10-year government bond yield is expected to remain between 6.50-6.60% in September. The announcement of the second-half borrowing calendar will be a key factor in determining yields, as the allocation of securities across maturity buckets could provide some relief. The bank notes that a widening interest rate differential with the US is also supportive, as the US Federal Reserve has begun its rate-cutting cycle, while the Reserve Bank of India (RBI) has chosen to maintain its policy stance.
Globally, yields have been mixed, with US yields showing a softening bias following comments from Federal Reserve Chair hinting at a September rate cut. Other advanced economies are adopting a “wait and watch” approach. The CME Fed Watch tool suggests traders are increasingly pricing in the likelihood of a cut this month. Domestically, the report observed firmness in August, with the longer end of the yield curve showing the most movement, attributed to fading hopes of an RBI rate cut and concerns over excess supply of government securities.
The report adds that most of the increase in yields happened post-RBI policy, where traders have formed expectations that India is past the rate cut cycle and has entered a status quo phase. The strong GDP growth print for the first quarter has further validated this view, despite base effects and deflator-related issues, reinforcing expectations that monetary policy will remain steady in the near term. Overall, the report expects India’s 10-year yield to trade in the range of 6.50-6.60% in September, with the RBI’s policy stance and global yield trends being key factors influencing yields.
The RBI’s decision to maintain its policy stance has reinforced expectations of a prolonged status quo in domestic rates. The bank’s report suggests that the yield curve will remain stable, with the 10-year yield trading in a narrow range. The strong GDP growth print has also reduced the likelihood of a rate cut, making it more likely that the RBI will maintain its current policy stance. As a result, bond yields are expected to remain range-bound, with the 10-year yield trading between 6.50-6.60% in September.
Bank of Baroda introduces ‘bob Digi Udyam’, a new digital financing initiative tailored for Micro and Small Enterprises (MSEs).
The Bank of Baroda (BoB) has launched a digital lending platform called “bob Digi Udyam” to provide Micro and Small Enterprises (MSEs) with quick access to working capital loans. The platform offers collateral-free loans ranging from ₹10 lakh to ₹50 lakh, making it easier for small businesses to access credit. This initiative is aligned with the Union Budget 2024-25 announcement, which encouraged public sector banks to develop in-house capabilities for MSME credit assessment.
The bob Digi Udyam platform leverages the digital footprint of MSEs to enable faster credit assessment, reducing the reliance on external assessments. This marks a significant step in strengthening credit accessibility for small businesses, according to BoB. The scheme is open to both existing and new customers of the bank, making it a valuable resource for MSEs looking to expand their operations or manage their working capital.
The launch of bob Digi Udyam is a positive development for the MSME sector, which has been a key focus area for the government in recent years. By providing easy access to credit, the platform can help small businesses overcome one of the major hurdles they face in their growth journey. The use of digital technology to assess creditworthiness also reduces the need for physical collateral, making it easier for MSEs to access loans.
The initiative is also in line with the government’s efforts to promote digitalization and financial inclusion. By developing in-house capabilities for MSME credit assessment, public sector banks like BoB can play a more significant role in supporting the growth of small businesses. The launch of bob Digi Udyam is a significant step in this direction, and it is expected to have a positive impact on the MSME sector in the country.
Overall, the launch of bob Digi Udyam is a welcome move that can help strengthen the credit ecosystem for small businesses in India. By providing easy access to credit and leveraging digital technology, the platform can help MSEs overcome one of the major challenges they face in their growth journey. As the MSME sector continues to play a vital role in the country’s economic growth, initiatives like bob Digi Udyam can help support the growth of small businesses and contribute to the overall development of the economy.
Bank of Baroda forecasts India’s economy to expand by 6.5% in the fiscal year 2026, although ongoing tariff disputes may threaten this growth, according to a report by The Economic Times.
India’s economy is expected to experience significant growth in the fiscal year 2026, with projections ranging from 6.3% to 6.8%. According to the Bank of Baroda, the economy is likely to grow at a rate of 6.5% in FY26. However, there are potential risks to this growth, particularly with regards to tariff tensions with the US. The government has acknowledged that US tariffs pose a downside risk to India’s economic growth, which could impact the country’s export sector.
Despite these risks, some economists believe that domestic consumption growth can offset losses due to US tariffs. This suggests that India’s economy is becoming increasingly driven by domestic demand, rather than relying solely on exports. This is a positive sign, as it indicates that the economy is diversifying and becoming more resilient to external shocks.
In the quarter ending June, India’s GDP growth reached a 5-quarter high of 7.8%, exceeding expectations. This growth was driven by a combination of factors, including increased government spending, a pickup in private investment, and a strong performance from the services sector. However, despite this positive news, the outlook for India’s economy remains clouded, with many experts cautioning that the growth may not be sustainable in the long term.
The Indian Express noted that while the economy has done better than expected, there are still many challenges that need to be addressed, including a slowdown in the manufacturing sector and a decline in private investment. Additionally, the impact of tariff tensions with the US and other countries could still have a significant impact on India’s export sector, which could in turn affect the overall growth of the economy.
Overall, while India’s economy is expected to experience significant growth in the coming year, there are still many risks and challenges that need to be addressed. The government and policymakers will need to carefully manage these risks and implement policies that support domestic consumption and investment, in order to ensure that the economy continues to grow and thrive. With the right policies and a bit of luck, India’s economy could continue to outperform expectations and achieve its growth potential.
Bank of Baroda reduces interest rates on auto and home loans
Bank of Baroda has announced a reduction in its car loan interest rates, effective immediately. The new floating car loan interest rates start at 8.15% per annum, down from 8.40% per annum. This rate cut is in addition to the previous reduction made by the bank after the Reserve Bank of India (RBI) cut the policy repo rate by 100 basis points. The new rate applies to loans for new car purchases and is linked to the borrower’s credit profile.
The bank has also reduced interest rates on mortgage loans, also known as Loan Against Property, from 9.85% per annum to 9.15% per annum, subject to certain conditions. According to Sanjay Mudaliar, Executive Director of Bank of Baroda, the rate cut is aimed at making car ownership more accessible and affordable during the festive season. He also noted that the reduced mortgage loan rates provide an opportunity for customers to unlock higher value from their property and raise additional funds at a lower interest rate.
The interest rate reduction on mortgage loans ranges from 55 basis points to 300 basis points, depending on the customer’s CIBIL score. The bank is also offering a fixed rate of interest on car loans, linked to its 6-month Marginal Cost of Lending Rate (MCLR), starting at 8.65% per annum. This move is expected to make car loans and mortgage loans more attractive to customers, especially during the festive season when many people look to make new purchases or investments.
The reduction in interest rates is a positive development for potential car buyers and property owners, as it can help reduce their monthly loan repayments and make their loans more affordable. With the new rates, Bank of Baroda is attempting to stay competitive in the market and attract more customers. The bank’s decision to link the interest rates to the borrower’s credit profile also highlights the importance of maintaining a good credit score to avail of better loan rates. Overall, the reduction in interest rates by Bank of Baroda is a welcome move that can benefit many customers looking to purchase a new car or unlock value from their property.
CBI Nabs Fugitive 21 Years Later for ₹6 Crore Bank of Baroda Scam in Mumbai
The Central Bureau of Investigation (CBI) has made a significant breakthrough in a 21-year-old bank fraud case, arresting Dinesh D Gehlot, a proclaimed offender, in Noida. Gehlot was wanted in connection with a ₹6 crore bank fraud case involving the Bank of Baroda. The case dates back to May 31, 2004, when Gehlot and others allegedly obtained a housing loan using forged and fabricated documents.
After completing the investigation, a charge sheet was filed in 2007, naming Gehlot as one of the conspirators. However, he failed to appear before the trial court and had been untraceable since 2004, despite several non-bailable warrants being issued against him. In 2024, a special CBI court in Mumbai issued a proclamation order, declaring him a proclaimed offender.
The CBI made sustained efforts to track down Gehlot, using advanced technological tools and identity-tracking databases to analyze his digital footprint. Extensive field investigations and ground-level inquiries were also conducted to determine his current identity and whereabouts. Finally, on August 20, 2025, Gehlot was apprehended in Noida after his identity was confirmed.
It was revealed that Gehlot had been evading capture by frequently changing his place of residence, misleading local residents about his true identity, and keeping interactions with neighbors to a minimum. The CBI’s meticulous efforts and use of technology ultimately led to his arrest. Gehlot was produced before the special CBI court in Mumbai, which remanded him to judicial custody for further trial proceedings.
The arrest marks a significant milestone in the case, which had gone cold for over two decades. The CBI’s determination and use of advanced technology have brought a fugitive to justice, sending a strong message that those who commit crimes and evade the law will eventually be held accountable. The case will now proceed to trial, and Gehlot will face the consequences of his actions. The CBI’s success in this case demonstrates its commitment to solving complex and long-standing cases, and its ability to use technology and investigative expertise to bring criminals to justice.
Bank of Baroda signs agreement with Waltair Division
A significant partnership has been formed between the Bank of Baroda’s regional office in Visakhapatnam and the Waltair Division of the East Coast Railways. The two entities have signed a memorandum of understanding (MoU) to offer the Baroda Government Employees Salary Package to the permanent employees of the Waltair Division. This agreement aims to provide exclusive salary account benefits, improved banking facilities, and additional financial services to the employees.
The MoU signing ceremony took place at the DRM Office in Visakhapatnam, with key officials in attendance. Lalit Bohra, the Divisional Railway Manager (DRM), and Manoj Kumar Sahoo, the Additional DRM, represented the Waltair Division. Leena Gohain, the Deputy General Manager and Regional Head of the Visakhapatnam region, signed the MoU on behalf of the Bank of Baroda. Jusuf Kabir Ansari, the Senior Divisional Personnel Officer (Sr DPO), represented the Waltair Division.
The event was well-attended by officers, union leaders, and staff members of the Waltair Division, as well as officials from the Bank of Baroda. The partnership is expected to bring numerous benefits to the employees of the Waltair Division, including access to exclusive salary account benefits, enhanced banking facilities, and value-added financial services.
This strategic collaboration highlights the commitment of the Bank of Baroda to provide tailored banking solutions to government employees. By offering specialized services, the bank aims to improve the overall banking experience for the employees of the Waltair Division. The partnership is also expected to foster a stronger relationship between the Bank of Baroda and the East Coast Railways, leading to potential future collaborations and benefits for both parties.
The Baroda Government Employees Salary Package is designed to provide a range of benefits, including attractive interest rates, zero-balance salary accounts, and preferential rates on loans and other financial products. With this partnership, the employees of the Waltair Division will be able to take advantage of these benefits, making it easier for them to manage their finances and plan for the future. Overall, the MoU signing marks a significant development in the banking and financial services sector, and is expected to have a positive impact on the employees of the Waltair Division.
Last Chance to Apply: Bank of Baroda to Close Registration for 455 Manager Vacancies Tomorrow
The Bank of Baroda has announced a recruitment drive for Manager positions, with 455 vacancies available. Eligible and interested candidates can apply for the BOB Manager recruitment 2025 on the official website of Bank of Baroda, bankofbaroda.in. However, the registration window will close tomorrow, August 19, 2025, so candidates must act quickly to submit their applications.
To apply, candidates can follow these steps:
1. Visit the official website of Bank of Baroda, bankofbaroda.in.
2. Click on the careers portal link on the home page.
3. Navigate to the Manager recruitment page and click on the application link.
4. Register and log in to the account.
5. Fill out the application form and pay the application fee.
6. Submit the application and download a copy of the confirmation page.
The application fee varies depending on the candidate’s category. For General, EWS, and OBC candidates, the fee is ₹850 plus payment gateway charges. For SC, ST, PWD, ESM, and women candidates, the fee is ₹175 plus payment gateway charges.
The selection process for the Manager positions will involve shortlisting and a subsequent round of Personal Interviews (PI) and/or other selection methods. The qualifying marks for the Interview/selection procedure will be decided by the Bank. Candidates can check the official website of the Bank of Baroda for more information on the recruitment drive.
It is essential for candidates to review the eligibility criteria and application process carefully before submitting their applications. With only one day left to apply, candidates should act quickly to avoid missing the deadline. The Bank of Baroda’s recruitment drive offers a great opportunity for qualified candidates to join the bank as Managers, and interested candidates should not miss this chance to apply.
India’s Public Sector Banks Clear Rs 4.48 Lakh Crore in Non-Performing Assets Over Four-Year Period, with SBI and PNB Accounting for Largest Share: Report
Public sector banks (PSBs) in India have written off non-performing assets (NPAs) worth over Rs 4.48 lakh crore in the last four financial years, according to a statement by Minister of State for Finance Pankaj Chaudhary in the Rajya Sabha. The State Bank of India, the country’s largest public sector bank, leads the list with total write-offs worth Rs 80,197 crore from FY22-25. Other major banks, including Union Bank of India, Punjab National Bank, Bank of Baroda, and Canara Bank, have also written off significant amounts, totaling Rs 4.48 lakh crore among 12 banks.
NPAs refer to debt instruments where the borrower has defaulted on interest or principal repayments, putting the loan at risk of default. The government maintains that loan write-offs are “technical” in nature and carried out in accordance with RBI guidelines after provisioning for four years. Write-offs do not mean waiving the borrower’s obligation, and recovery actions continue through various mechanisms, including the Insolvency and Bankruptcy Code, the SARFAESI Act, Debt Recovery Tribunals, and civil courts.
The government has reported a reduction in gross NPAs from 9.11% to 2.58% from March 2021 to March 2025. However, the government did not provide any update on the recoveries made after the write-offs. The revelation has raised serious questions about the functioning of the public banking system. The write-offs have sparked concerns about the efficiency of the banking system and the potential losses to the exchequer.
The banks that have written off significant amounts include Union Bank of India (Rs 68,557 crore), Punjab National Bank (Rs 65,366 crore), Bank of Baroda (Rs 55,279 crore), and Canara Bank (Rs 47,359 crore). Indian Bank also wrote off Rs 29,949 crore during the same period. The government’s response to the write-offs has been that they are a normal part of the banking process and do not necessarily mean that the loans are uncollectible. However, the lack of transparency on recoveries made after write-offs has raised concerns among experts and lawmakers. The issue highlights the need for greater oversight and accountability in the public banking system to prevent such large-scale write-offs in the future.
Indian economy remains resilient to tariff effects due to strong domestic demand, says Bank of Baroda’s Chief Economist, as reported by ANI News
According to Sameer Narang, Chief Economist at Bank of Baroda (BoB), India’s economy has been shielded from the impact of tariffs due to strong domestic demand. Narang stated that the country’s growth story is largely driven by domestic factors, including consumption and investment, which have helped mitigate the effects of global trade tensions.
The ongoing trade tensions between the US and China have led to an increase in tariffs, affecting global trade and economic growth. However, India’s economy has shown resilience, with the country’s GDP growth rate remaining relatively stable. Narang attributed this to the strong domestic demand, which has helped offset the negative impact of tariffs on the economy.
Narang also pointed out that India’s economy is less dependent on exports compared to other emerging markets. This has helped the country to navigate the challenges posed by global trade tensions. Additionally, the government’s efforts to boost domestic consumption and investment have also contributed to the economy’s resilience.
The Chief Economist also highlighted the importance of monetary policy in supporting economic growth. He noted that the Reserve Bank of India (RBI) has taken steps to ease monetary policy, which has helped to stimulate growth. The RBI has cut interest rates several times in recent months, making borrowing cheaper and increasing liquidity in the system.
Furthermore, Narang emphasized the need for structural reforms to support long-term economic growth. He stated that the government needs to focus on implementing reforms that improve the business environment, increase competitiveness, and attract foreign investment. This would help to boost economic growth and make the economy more resilient to external shocks.
Overall, Narang’s comments suggest that India’s economy is well-positioned to weather the challenges posed by global trade tensions. The strong domestic demand, supportive monetary policy, and efforts to boost consumption and investment have all contributed to the economy’s resilience. However, the need for structural reforms remains, and the government must continue to work towards implementing policies that support long-term economic growth.
The Indian economy has been shielded from the impact of tariffs due to strong domestic demand, and the government’s efforts to boost consumption and investment have contributed to the economy’s resilience. With the right policies and reforms, India can continue to navigate the challenges posed by global trade tensions and achieve long-term economic growth. The country’s growth story is largely driven by domestic factors, and the economy is less dependent on exports compared to other emerging markets.
A staggering ₹50 lakh in gold has vanished from a safe deposit locker at the Bank of Baroda
A shocking case of missing gold worth ₹50 lakh has surfaced at the Bank of Baroda branch in Bhilai, Chhattisgarh. The gold, approximately 40 tolas, was stored in a locker belonging to Darogha Singh, a long-time customer who had rented the locker since 1991. The gold was kept in three separate pouches, but when Singh opened the locker on April 22, 2025, he found that two of the pouches were missing, with only one remaining.
Singh claims that he had not accessed the gold himself nor allowed any family member to do so. However, the bank initially blamed him for mishandling the locker. The bank’s locker in-charge, Anita Koreti, had offered Singh a temporary locker due to seepage issues in the original locker room. Singh retained the keys during the transition period, but when he opened the temporary locker, he found that the gold was missing.
The police have registered a case against the Bank of Baroda management under Section 316(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing. The case has taken several turns, with bank officials claiming that Singh’s daughter had accessed the locker, which she has denied. A Godrej technician, Sukhwinder Singh, had also been called to repair the locker multiple times, raising suspicions about potential tampering.
The Durg Superintendent of Police, Vijay Agrawal, has confirmed that a case has been registered, and the Bhilai Nagar Police have begun formal investigations. The Bank of Baroda management has declined to comment on the matter, directing all queries to their head office. The incident has raised serious allegations and concerns about the security and handling of customer belongings by the bank.
The police investigation is expected to uncover the truth behind the missing gold and determine whether the bank or any of its employees are responsible for the theft. The case highlights the importance of ensuring the security and integrity of bank lockers and the need for transparent and accountable banking practices.
Bank of Baroda reinforces its dedication to uniting communities and fostering global connections
Bank of Baroda (NZ) Limited is poised to play a significant role in deepening economic collaboration between New Zealand and India as free trade negotiations gain momentum. With two branches in Auckland and Wellington, and a vast network of over 8,200 branches across India, the bank is strategically positioned to facilitate trade, commerce, and business-to-business and people-to-people contact. The bank’s presence in New Zealand is not just about providing financial services, but about fostering stronger bilateral ties and supporting the flow of goods, services, and capital between the two nations.
Recently, the bank announced a pivotal decision to reverse its earlier plan to divest its stake in its New Zealand subsidiary, reaffirming its long-term commitment to the country. This decision follows a comprehensive strategic review and invaluable stakeholder feedback. The bank’s new Managing Director, Sandeep Kumar Khetan, is keen to develop stronger ties with customers, expand business, and be the financial heart of the communities it serves.
Bank of Baroda (NZ) Limited offers a comprehensive suite of financial services, including savings and deposit accounts, lending products, remittance services, trade finance, and foreign exchange services. The bank’s commitment to understanding its customers’ unique requirements and providing personalized solutions has been a cornerstone of its success, fostering a loyal customer base that consistently praises its efficiency and supportive approach.
The bank is poised to embark on an ambitious strategic programme focused on enhancing its value proposition and deepening its market penetration. This includes enhancing its digital banking infrastructure, strengthening its local offerings, and fostering stronger community ties. The bank aims to deepen its relationships with customers and partners nationwide, contributing meaningfully to New Zealand’s economic landscape.
As a wholly-owned subsidiary of the parent entity, Bank of Baroda, the bank has access to a global network spanning 17 countries and serving millions of customers worldwide. The parent entity is a formidable international banking group with a rich heritage of trust and innovation, boasting total assets of US$198.39 billion and a complement of 75,000 staff.
With its renewed commitment, Bank of Baroda (NZ) Limited is firmly positioned to play a significant role in the continued prosperity of New Zealand. As free trade negotiations progress, the bank stands ready to further its role as a trusted partner, facilitating trade, fostering business connections, and continuing to serve its customers with excellence. The bank’s strategic vision for the future is focused on enhancing its value proposition, deepening its market penetration, and contributing meaningfully to New Zealand’s economic landscape.
Break free from minimum balance rules: 5 banks that no longer require a minimum balance for savings accounts
In a significant move, several major publicly listed banks in India have abolished the requirement of maintaining a minimum balance in savings accounts, thereby removing penalties for non-maintenance of the Average Monthly Balance (AMB). Banks such as Punjab National Bank (PNB), Bank of Baroda, Indian Bank, and Canara Bank have waived off the minimum balance criteria for most of their savings accounts. This decision is expected to benefit a large number of customers who previously had to worry about maintaining a minimum balance to avoid penalties.
The Average Monthly Balance (AMB) is the minimum balance that customers are required to maintain in their bank accounts. If the balance falls below the required amount, banks levied a penalty, which varied depending on the type of savings account. With the removal of the AMB requirement, customers will no longer incur any charges for not maintaining the minimum balance.
Bank of Baroda has announced that it will waive charges on non-maintenance of minimum balance in all standard savings accounts from July 1, 2025. Similarly, Indian Bank has also waived off the minimum balance criteria across all savings bank accounts, effective from July 7, 2025. Canara Bank had earlier announced a waiver of the average monthly balance requirement for all types of savings bank accounts in May 2025.
Punjab National Bank (PNB) has also joined the list of banks that have removed the minimum balance requirement. Previously, PNB charged penalties for failing to maintain the minimum average balance, which was directly proportional to the extent of the shortfall. However, with the new rules, customers will no longer have to worry about maintaining a minimum balance.
State Bank of India (SBI) had already waived off the requirement for maintaining a minimum balance in all savings accounts since 2020, and there is no penalty if the minimum balance is not maintained. The interest rates for savings accounts vary across banks, with PNB offering 2.50% interest rate for balances below Rs. 10 lakh and 2.70% for balances above Rs. 100 crore.
Overall, the removal of the minimum balance requirement is a significant move that is expected to benefit a large number of customers. It will provide relief to those who had to maintain a minimum balance to avoid penalties and will also make banking more accessible and convenient for all.
State Bank of India (SBI) is likely to issue tier-II bonds worth ₹5,000 crore by August, with preliminary discussions already underway, according to a recent report.
The State Bank of India (SBI) is planning to raise ₹5,000 crore through tier-II bonds by August, according to a report. The move is part of the bank’s efforts to strengthen its capital base and meet the regulatory requirements. Tier-II bonds are a type of debt instrument that banks use to raise capital, which can be used to meet their capital adequacy requirements.
The report cites sources familiar with the development, stating that the initial level talks have already started. The bank is expected to file the necessary documents with the regulatory authorities soon. The fundraising plan is subject to market conditions and regulatory approvals.
SBI’s plan to raise capital through tier-II bonds is seen as a positive move, as it will help the bank to improve its capital adequacy ratio (CAR). The CAR is a measure of a bank’s capital strength, and it is calculated by dividing the bank’s capital by its risk-weighted assets. The Reserve Bank of India (RBI) has set a minimum CAR requirement of 11.5% for banks, and SBI’s current CAR is around 12.6%.
The fundraising plan is also expected to support SBI’s business growth plans. The bank has been expanding its loan book and has seen significant growth in its retail and corporate lending businesses. The additional capital raised through the tier-II bonds will provide the bank with the necessary resources to support its growth plans and meet the increasing demand for credit from its customers.
The report also notes that SBI is not the only bank planning to raise capital through tier-II bonds. Other public sector banks, such as Bank of Baroda and Canara Bank, are also planning to raise capital through similar instruments. The move is seen as a sign of the improving financial health of the public sector banks, which have been struggling with high levels of non-performing assets (NPAs) in recent years.
Overall, SBI’s plan to raise ₹5,000 crore through tier-II bonds is a positive development for the bank and the banking sector as a whole. It will help the bank to strengthen its capital base, support its business growth plans, and meet the regulatory requirements. The move is also expected to boost investor confidence in the bank and the sector, which has been impacted by the COVID-19 pandemic and the resulting economic slowdown.
Bank of Baroda marks the International Day of Yoga with enthusiasm and dedication
The Bank of Baroda recently celebrated the International Day of Yoga across all its offices as part of its employee health and wellness framework. The bank has demonstrated its commitment to the well-being of its employees by launching daily live online yoga and meditation sessions in November 2024. These sessions aim to encourage employees and their families to allocate 30 minutes each day to their physical and mental health.
To commemorate the International Day of Yoga, the bank organized in-person yoga sessions for employees at various locations. The sessions were led virtually by a certified yoga instructor, allowing employees to participate and practice yoga together. The bank also took the opportunity to recognize and reward staff members who have consistently attended the online yoga sessions since they were launched in November 2024.
In addition to these initiatives, the Bank of Baroda announced the launch of the “Rise with Yoga” campaign, which aims to motivate employees to experience the benefits of regularly practicing yoga. This campaign is part of the bank’s preparations for its 118th Foundation Day, which falls on July 20th. The campaign is designed to promote a culture of wellness and self-care among employees, and to encourage them to make yoga a regular part of their daily routine.
The bank’s efforts to promote employee well-being are a testament to its commitment to the health and happiness of its staff. By providing access to yoga and meditation sessions, the bank is helping its employees to manage stress, improve their physical health, and enhance their mental well-being. The “Rise with Yoga” campaign is a significant initiative that is expected to have a positive impact on the overall well-being of Bank of Baroda employees. Overall, the bank’s celebration of the International Day of Yoga and its launch of the “Rise with Yoga” campaign demonstrate its dedication to the health and wellness of its employees.
Following RBI’s rate cut, major banks slash savings account interest rates, with SBI plunging to 2.5% and HDFC, ICICI reducing to 2.75%.
Major banks in India, including State Bank of India (SBI), HDFC Bank, and ICICI Bank, have reduced their interest rates on savings accounts following a 50 basis point repo rate cut by the Reserve Bank of India (RBI) in June 2025. The cumulative rate cut for this year now stands at 1%. As a result, savings account holders will see reduced returns on their deposits. SBI, the country’s largest lender, has revised its savings account interest rate to a uniform 2.5% per annum for all balances, effective June 15, 2025. This is a decrease from the previous rates of 2.7% for balances below Rs 10 crore and 3% for balances of Rs 10 crore and above.
HDFC Bank and ICICI Bank have also followed suit, revising their interest rates to a flat 2.75% per annum, effective June 10, 2025, and June 12, 2025, respectively. Other banks, such as Bank of Baroda, Federal Bank, IndusInd Bank, and RBL Bank, have also updated their rates in response to the RBI’s monetary policy move. The revised rates range from 2.5% to 6.75%, depending on the bank and the account balance.
The rate revisions come as banks adjust deposit returns to align with the easing interest rate cycle, which has also triggered a cut in fixed deposit (FD) rates across tenures. The uniform lower rate structure will impact depositors across balance slabs, resulting in reduced returns on their savings. The move is expected to affect millions of savings account holders across the country, who will see a decrease in their interest earnings.
The reduction in interest rates is a result of the RBI’s efforts to stimulate economic growth by reducing borrowing costs. However, it may not be good news for depositors, who will see their savings earn lower returns. The revised rates will be effective from mid-June 2025, and depositors can expect to see the changes reflected in their account statements soon. Overall, the reduction in interest rates on savings accounts is a sign of the changing economic landscape in India, where banks are adjusting to the new monetary policy reality.
The Indian Rupee is expected to fluctuate within a narrow range of 85.25 to 86.25 against the US Dollar in the short term, according to a report by Bank of Baroda.
The Indian rupee is expected to trade between 85.25 and 86.25 against the US dollar in the near term, according to a report by Bank of Baroda. The report notes that the rupee has depreciated by 0.6% in June 2025 so far, adding to a 1.3% decline in May 2025. The depreciation was largely driven by rising geopolitical tensions, particularly the conflict between Israel and Iran, which led to a sharp 0.6% fall in the rupee on June 13.
However, the report also notes that global currencies have gained in June 2025, mainly due to a weakening US dollar. The dollar index (DXY) dropped by 1.3%, driven by US economic data that showed price pressures in the economy remained under control. This has led investors to expect the US Federal Reserve to cut interest rates later this year, with the chances of a rate cut in September 2025 increasing to around 60%.
Despite the global uncertainty, the Indian rupee has remained relatively stable, in line with the trend seen in other global currencies. The report attributes this stability to the Reserve Bank of India’s strong foreign exchange reserves, which will help keep the rupee’s movement smooth and under control.
Looking ahead, the rupee may face some volatility due to global headwinds and the approaching end of the US tariff pause. However, the report expects the rupee to remain within the predicted range of 85.25-86.25 against the US dollar. The Bank of Baroda report warns that there are risks to the rupee’s stability, including a significant escalation in geopolitical tensions and possible changes in US tariffs. Nevertheless, the report suggests that the Indian rupee is likely to remain relatively stable in the near term, supported by the Reserve Bank of India’s strong foreign exchange reserves.
Home Loan Comparison: Public or Private Banks – Who Offers the Best Deals After RBI’s 50 bps Repo Rate Cut?
The Reserve Bank of India’s (RBI) recent 50 basis points (bps) repo rate cut has led to a significant reduction in home loan interest rates. Both public and private banks have reduced their lending rates, making it an attractive time for homebuyers to avail of loans. The question on everyone’s mind is: which type of bank offers the cheapest home loans now?
Public sector banks, such as State Bank of India (SBI), Bank of Baroda, and Punjab National Bank, have reduced their home loan interest rates to 7.90-8.40% per annum. SBI, the largest lender in the country, is offering home loans at 7.90% per annum, while Bank of Baroda is offering loans at 8.00% per annum. These rates are applicable for loans up to ₹30 lakh.
Private sector banks, such as HDFC Bank, ICICI Bank, and Axis Bank, have also reduced their home loan interest rates. HDFC Bank is offering home loans at 8.00-8.30% per annum, while ICICI Bank is offering loans at 8.05-8.35% per annum. Axis Bank is offering home loans at 8.10-8.40% per annum. These rates are also applicable for loans up to ₹30 lakh.
After the RBI’s repo rate cut, some banks have also introduced special schemes to attract homebuyers. For example, SBI is offering a 0.10% concession on home loan interest rates for borrowers with a good credit score. Similarly, HDFC Bank is offering a 0.10% concession on home loan interest rates for borrowers who opt for a floating-rate loan.
In terms of the cheapest home loan option, public sector banks seem to be offering more competitive rates. SBI’s home loan rate of 7.90% per annum is the lowest among all banks, followed by Bank of Baroda’s rate of 8.00% per annum. However, private sector banks are offering more flexible repayment options and concessions on interest rates, which may make their loans more attractive to some borrowers.
Overall, the current home loan market is highly competitive, with both public and private sector banks offering attractive interest rates and schemes. Homebuyers should carefully evaluate their options and choose a loan that best suits their needs and financial situation. With the RBI’s repo rate cut, home loan interest rates are likely to remain low for some time, making it a good time to buy a home.
Bank of Baroda Loses ₹5.44 Lakh to Scammers in Fake Gold Loan Scheme at Wardhaman Nagar Branch
A case of fraud has been registered at the Lakadganj Police Station in Nagpur, India, after two men allegedly cheated the Bank of Baroda’s Wardhaman Nagar branch out of ₹5.44 lakh (approximately $7,300 USD) by securing a loan using fake gold ornaments. The incident occurred between October 20 and 22, 2021. According to the police, the primary accused, Sunil Sudhir Maske, conspired with Abhishek Prakash Bharne to commit the fraud. Maske applied for a gold loan at the bank and submitted eight gold bangles, which Bharne, posing as a jeweller, falsely certified as 24-carat pure gold on a letterhead of Rohini Jewellers.
The bank, believing the jewellery to be genuine, sanctioned a loan of ₹5.44 lakh to Maske. However, when the loan remained unpaid, the bank conducted a valuation check and discovered that the ornaments were not made of real gold. A formal valuation report confirmed the fraud, revealing that the gold bangles were fake. The bank’s branch manager, Prakash Durlabhji Malviya, filed a complaint with the police, leading to the registration of a case against the two accused under Sections 420 and 34 of the Indian Penal Code (IPC), which relate to cheating and conspiracy.
The police have registered a case against Maske and Bharne, and an investigation is underway. The incident highlights the importance of thorough verification and valuation of collateral before sanctioning loans, especially in cases where gold ornaments are used as security. The bank’s failure to detect the fake gold ornaments initially has resulted in a significant financial loss, and the incident serves as a warning to financial institutions to be vigilant and thorough in their loan disbursement processes. The case is currently being investigated by the Lakadganj police, and further action is expected to be taken against the accused.
Bank of Baroda emerges as highest bidder for Jet Airways’ BKC office in insolvency auction, reports The Economic Times
The Economic Times has reported that Bank of Baroda has emerged as the top bidder in the insolvency auction of Jet Airways’ BKC office in Mumbai. The auction was held as part of the ongoing insolvency proceedings against the grounded airline. The Bank of Baroda’s bid of approximately Rs 490 crores has been deemed the highest, surpassing those of other prominent bidders such as LIC and Yes Bank.
The BKC office, located in the heart of Mumbai’s financial district, is a prime commercial property that serves as the airline’s headquarters. The office space spans over 52,000 square feet and is situated in a highly sought-after location, making it a valuable asset for any company. The auction was conducted by the resolution professional, Ashish Chhawchharia, who is overseeing the insolvency proceedings against Jet Airways.
The sale of the BKC office is part of the efforts to recover debts owed by Jet Airways to its creditors. The airline, which was once one of India’s largest private carriers, ceased operations in April 2019 due to financial difficulties. The insolvency proceedings were initiated in June 2019, and since then, the resolution professional has been working to sell off the airline’s assets to repay debts.
Bank of Baroda, which is one of the largest public sector banks in India, has been actively participating in the insolvency proceedings of Jet Airways. The bank had an exposure of over Rs 1,000 crores to the airline and has been seeking to recover its dues through the sale of the airline’s assets. The acquisition of the BKC office is expected to help the bank recover a significant portion of its outstanding dues.
The sale of the BKC office is subject to approval from the National Company Law Tribunal (NCLT), which is overseeing the insolvency proceedings. Once the sale is approved, the Bank of Baroda is expected to take possession of the property, which could be used for its own operations or leased out to other companies. The transaction is expected to be completed within the next few weeks, pending regulatory approvals.
Ten banks, including SBI and Bank of Baroda, witnessed a drop in non-performing assets (NPAs) in Q4, sparking revival hopes
The Q4 FY25 results season has come to a close, and an analysis by Trendlyne has revealed that 10 banks from the Nifty500 index have reported a decline in their non-performing assets (NPAs) for the quarter ending March 2025. These banks include some of the major players in the Indian banking sector, such as State Bank of India (SBI), Bank of Baroda, Canara Bank, and AU Small Finance Bank.
A decline in NPAs is a positive sign for banks, as it indicates a reduction in the amount of loans that are not being repaid. This can lead to a decrease in provisions for bad debts and an improvement in the overall asset quality of the bank. The reduction in NPAs can also free up capital for banks to lend more, which can help stimulate economic growth.
The improvement in NPAs is a result of the efforts made by banks to recover dues and reduce their exposure to stressed assets. The Indian government and the Reserve Bank of India (RBI) have also taken various measures to help banks tackle the NPA problem, such as the introduction of the Insolvency and Bankruptcy Code (IBC) and the setting up of the National Company Law Tribunal (NCLT).
The decline in NPAs is a significant development, as it indicates that the Indian banking sector is gradually recovering from the NPA crisis that had affected it in the past. The reduction in NPAs can also lead to an improvement in the profitability of banks, as they will have to make lower provisions for bad debts.
The 10 banks that reported a decline in NPAs are:
1. State Bank of India (SBI)
2. Bank of Baroda
3. Canara Bank
4. AU Small Finance Bank
The other 6 banks are also major players in the Indian banking sector. The decline in NPAs is a positive sign for the Indian banking sector, and it is expected that this trend will continue in the coming quarters. The improvement in NPAs is a result of the efforts made by banks to recover dues and reduce their exposure to stressed assets.
The reduction in NPAs can also lead to an improvement in the credit growth of banks, as they will have more capital to lend. This can help stimulate economic growth and lead to an improvement in the overall financial health of the country. Overall, the decline in NPAs is a significant development, and it is expected that the Indian banking sector will continue to recover from the NPA crisis in the coming quarters.
Following RBI’s rate cut, Bank of Baroda and HDFC Bank have lowered their lending rates, with reductions of up to 50 basis points and 10 basis points, respectively.
The State-owned Bank of Baroda (BoB) has announced a reduction in its benchmark lending rate, linked to the repo rate, by 50 basis points. This move is in line with the Reserve Bank of India’s (RBI) recent rate cut. The bank’s Repo Linked Lending Rate (RLLR) now stands at 8.15%, effective from June 7. This reduction will benefit borrowers whose loans are linked to this benchmark.
Additionally, private sector HDFC Bank has also reduced its Marginal Cost of Funds-based Lending Rates (MCLR) by 10 basis points across all tenures, effective from June 7. The new MCLR rates range from 8.90% for overnight and one-month rates to 9.10% for two-year and three-year tenure lending rates.
The RBI’s rate cut was announced on Friday, where the monetary policy committee voted to lower the benchmark repurchase or repo rate by 50 basis points to 5.5%. The cash reserve ratio for banks was also reduced by 100 basis points to 3%, making available an additional ₹2.5 lakh crore to the banking system.
This is the third interest rate cut by the RBI in 2025, with a total reduction of 100 basis points. The previous cuts were made in February and April, with each reduction being 25 basis points. The RBI’s move is aimed at boosting the economy by making more money available for lending.
The reduction in lending rates by BoB and HDFC Bank is expected to benefit borrowers, particularly those with loans linked to the repo rate or MCLR. With the decrease in lending rates, borrowers can expect to pay lower interest rates on their loans, which can help reduce their debt burden. The move is also expected to increase credit demand and boost economic growth. Overall, the reduction in lending rates by banks is a positive development for the economy and borrowers alike.
RBI’s rate cut leads to drop in home loan rates, bringing greater relief to existing borrowers
Following the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, several major public sector banks have reduced their lending rates. The move aims to stimulate credit growth and support economic activity amid ongoing challenges. Bank of Baroda, Punjab National Bank, Bank of India, and UCO Bank have all reduced their repo-linked lending rates (RLLR) by 50 basis points, with effective dates ranging from June 6 to June 9, 2025. These reductions bring their RLLR rates down to between 8.15% and 8.35%.
In addition to the public sector banks, private sector lender HDFC Bank has also reduced its Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points across various tenures, effective June 7, 2025. This adjustment brings down the overnight and one-month MCLR rates to 8.9%. The RBI’s repo rate cut directly impacts floating-rate loans, which must be reset in line with the benchmark repo rate as per RBI regulations. Existing borrowers with floating-rate loans will automatically benefit from lower interest rates.
However, new borrowers may not receive the full benefit of the rate cut, as banks are expected to modify the spreads they charge over the repo rate to maintain profitability. For example, Bank of Baroda’s home loan rates for new borrowers now start at 8%, which is higher than the rates offered by some public sector banks prior to the RBI rate cut. Several public sector banks, including Bank of India, Bank of Maharashtra, and Union Bank of India, were offering home loans at rates as low as 7.85% for loans up to Rs 30 lakh.
The rate cuts are expected to make borrowing cheaper for consumers and businesses, which could help stimulate economic growth. However, to preserve profitability, lenders are also expected to reduce returns on fixed deposits (FDs), making them less attractive to savers in the near term. The RBI’s repo rate reduction and the subsequent adjustments by banks reflect ongoing efforts to balance credit availability, profitability, and competitive pressures in the Indian banking sector.
Overall, the rate cuts are a positive development for borrowers, but may have a negative impact on savers. The Indian banking sector is expected to continue to evolve in response to the RBI’s monetary policy decisions, with lenders adjusting their rates and products to maintain profitability and competitiveness. The ultimate goal of the rate cuts is to spur economic growth by making borrowing cheaper, which could have a positive impact on the broader economy.
Major lenders, including Bank of Baroda, UCO Bank, Punjab National Bank, and Bank of India, have slashed their lending rates.
UCO Bank has announced a reduction in its marginal cost of fund-based lending rate (MCLR) by 10 basis points across all tenures, following the Reserve Bank of India’s (RBI) decision to cut the repo rate. The reduced MCLR rates will come into effect from June 10. The MCLR is a crucial benchmark rate that determines the interest rates for loans such as home loans, personal loans, and some business loans.
As per the revised rates, the overnight MCLR has been decreased from 8.25% to 8.15%, while the one-month MCLR has been lowered from 8.45% to 8.35%. The three-month MCLR has seen a cut from 8.6% to 8.5%, and the six-month MCLR from 8.9% to 8.8%. The one-year MCLR has been reduced from 9.1% to 9%. These reductions in MCLR rates are expected to make loans linked to this benchmark cheaper for customers.
In addition to the MCLR revisions, UCO Bank has also reduced its treasury bill-linked rates. Effective from June 9, the rates for three months, six months, and 12 months have been lowered to a uniform 5.8%, down from the previous rates of 6% or 6.05%. These changes are aimed at providing relief to borrowers and stimulating economic growth.
The reduction in MCLR rates by UCO Bank is a positive development for customers who have taken loans linked to this benchmark. With the decreased interest rates, borrowers can expect to save on their loan repayments. The move is also expected to boost credit growth and support the overall economy. The RBI’s decision to cut the repo rate has prompted several banks to review their lending rates, and UCO Bank’s reduction in MCLR rates is a step in this direction. Overall, the revisions in MCLR rates and treasury bill-linked rates are likely to benefit borrowers and contribute to the country’s economic growth.
Bank of Baroda Observes World Environment Day 2025 with Community-Led Initiatives to Combat Plastic Pollution
As the world gears up to celebrate World Environment Day 2025, several organizations in India have taken the initiative to contribute to the cause of reducing plastic pollution. One such organization is Bank of Baroda, which has launched a tree plantation drive as part of its efforts to combat environmental degradation. The bank’s initiative aims to promote sustainability and raise awareness about the importance of preserving the environment.
Similarly, HDFC Mutual Fund has launched its #NurtureNature 5.0 campaign, which focuses on giving plastic waste a meaningful purpose. The campaign aims to encourage people to collect and recycle plastic waste, thereby reducing the amount of plastic that ends up in landfills and oceans. By providing a platform for people to contribute to the cause, HDFC Mutual Fund hopes to make a significant impact on reducing plastic pollution.
HDFC Bank Parivartan has also joined the movement by launching an awareness campaign against plastic pollution. The campaign, which comes ahead of World Environment Day 2025, aims to educate people about the harmful effects of plastic pollution and encourage them to adopt sustainable practices. By spreading awareness and promoting behavioral change, HDFC Bank Parivartan hopes to contribute to a cleaner and healthier environment.
In a grassroots-level initiative, local women Business Correspondents (BCs) have led a clean-up drive at the Prathamik Arogya Kendra in Saphale. The drive, which was organized ahead of World Environment Day 2025, brought together community members to collect and dispose of plastic waste in a responsible manner. By involving local communities in environmental conservation efforts, such initiatives can help create a significant impact on reducing plastic pollution.
These initiatives demonstrate the commitment of various organizations in India to reducing plastic pollution and promoting sustainability. By taking ground-level action and engaging with local communities, these organizations are setting an example for others to follow. As the world celebrates World Environment Day 2025, it is essential to recognize the efforts of such organizations and individuals who are working tirelessly to protect the environment. By coming together and taking collective action, we can create a significant impact on reducing plastic pollution and promoting a cleaner, healthier environment for future generations.
India’s 10-year bond yield is expected to decline even further if the RBI implements a rate cut of over 25 basis points, according to a report by Bank of Baroda, as reported by ANI News.
According to a report by Bank of Baroda, India’s 10-year bond yield may decline further if the Reserve Bank of India (RBI) decides to cut interest rates by more than 25 basis points (bps). The report suggests that a rate cut of more than 25 bps would lead to a decrease in bond yields, as investors would become more optimistic about the economy and the RBI’s stance on monetary policy.
The 10-year bond yield is a key indicator of the country’s long-term interest rates and is closely watched by investors and policymakers. A decrease in bond yields would make borrowing cheaper for the government and corporations, which could boost economic growth. The report notes that the RBI has been facing pressure to cut interest rates to stimulate economic growth, which has been slowing down in recent quarters.
The Bank of Baroda report highlights that the RBI’s rate-setting panel, the Monetary Policy Committee (MPC), is scheduled to meet in the coming days to decide on the interest rate. The report states that a rate cut of 25 bps is already priced in, but a cut of more than 25 bps would be a surprise and would lead to a further decline in bond yields.
The report also notes that the RBI has been using various tools to manage liquidity and support economic growth, including open market operations and reverse repo auctions. The report suggests that the RBI may continue to use these tools to manage liquidity and keep interest rates low, which would support the decline in bond yields.
In recent months, the Indian economy has been facing several challenges, including a slowdown in consumption and investment, and a decline in exports. The report notes that the RBI’s rate cuts and other measures have helped! to stabilize the economy, but more needs to be done to boost growth.
The report concludes that a rate cut of more than 25 bps by the RBI would be a positive surprise for bond markets and would lead to a decline in bond yields. This would make borrowing cheaper for the government and corporations, which could boost economic growth. However, the report also notes that the RBI’s decision would depend on various factors, including inflation, growth, and global economic trends.
Overall, the Bank of Baroda report suggests that the RBI’s interest rate decision would be a key driver of bond yields in the coming days, and a rate cut of more than 25 bps would lead to a decline in bond yields and boost economic growth. Investors and policymakers would closely watch the RBI’s decision, as it would have significant implications for the Indian economy and financial markets.
Compare Interest Rates: SBI vs PNB vs Canara Bank vs Bank of Baroda
Punjab National Bank (PNB), the second-largest public sector lender, has revised its fixed deposit (FD) interest rates for general citizens and senior citizens. The bank now offers FD interest rates ranging from 3.5% to 6.9% for general citizens. The highest return of 6.9% is available for a 390-day FD, which is a reduction from the earlier rate of 7%.
For term deposits with a tenure of over a year to 389 days, the bank has reduced the FD interest rate by 10 basis points (bps) to 6.70%. Similarly, the interest rate on term deposits with a tenure of 391 days to 505 days, as well as 507 days to two years, has been reduced to 6.7%.
However, the bank has increased the FD rate for certain tenures. For a 1204-day tenure, the rate has been increased by 25 bps to 6.4%. Additionally, for term deposits ranging from 1205 days to five years, the rate has been increased by 25 bps to 6.5%.
Senior citizens are eligible for higher interest rates, ranging from 4% to 7.4% for various tenures. Super senior citizens, who are 80 years old or above, can earn an interest rate of up to 7.7% on a term deposit of 390 days. This makes PNB’s FDs an attractive option for senior citizens looking to invest their savings and earn a higher return.
Overall, PNB’s revised FD interest rates offer competitive returns for general citizens and senior citizens. While the bank has reduced interest rates for some tenures, it has increased rates for others, providing opportunities for investors to earn higher returns on their deposits. As with any investment, it’s essential to review the terms and conditions, including the interest rates, tenures, and any applicable penalties, before making a decision.
Analysts Predict 25-Basis-Point Rate Cut by RBI’s MPC on June 6 as Inflation Shows Signs of Easing
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is set to meet later this week, and analysts expect the Central Bank to cut the repo rate by 25 basis points (bps) for the third consecutive time. This move is anticipated due to inflation remaining below the median target of 4%. The RBI has already cut the repo rate by 50 bps until April this year, and it is projected to cut it by another 50 bps in the current fiscal year (FY26).
According to a Crisil note, bank lending rates have started to ease, which should support domestic demand. The note also predicts that improving domestic consumption will support industrial activity, driven by healthy agricultural growth, easing inflation, and income tax relief. Madan Sabnavis, Chief Economist at Bank of Baroda, agrees that the MPC will likely cut the repo rate by 25 bps due to benign inflation conditions and comfortable liquidity.
The RBI’s commentary on growth and inflation will be closely watched, as there are expectations of revisions in their forecasts. The Central Bank will also detail its analysis on how the global environment will affect the Indian economy, particularly with the tariff reprieve provided by the US set to end in July. The RBI has stated that it will continue to manage liquidity in sync with its monetary policy stance to keep system liquidity adequate.
In its 2024-25 annual report, the RBI noted that a benign inflation outlook and moderate growth warrant a growth-supportive monetary policy while remaining watchful of global macroeconomic conditions. The MPC’s April meeting saw a unanimous decision to reduce the policy repo rate by 25 bps to 6.0%, and the stance was changed from neutral to accommodative. Overall, analysts expect the RBI to maintain a dovish stance and support economic growth through monetary policy easing.
Bank of Baroda reduces its advertising expenditure by 20% to Rs 350 crore for the financial year 2025
Bank of Baroda, a public sector lender, has reduced its advertising and publicity expenses by 20.2% in the fiscal year 2025. The bank’s advertising expenditure decreased to Rs 350 crore in FY25 from Rs 439 crore in the previous year. This reduction is notable, given that the banking, financial services, and insurance (BFSI) sector in India has been increasing its advertising spend in recent years, particularly on digital platforms.
Despite the decrease in advertising spend, Bank of Baroda has continued to focus on digital marketing and branding. The bank executed over 30 digital campaigns in FY25, covering topics such as sports, financial literacy, fraud awareness, and cybersecurity. The bank’s annual report also highlighted a multi-channel advertising campaign that included television, radio, print, and cinema, with a cumulative reach of approximately 200 crore people.
The bank’s financial performance in FY25 was positive, with a 10% rise in net profit to Rs 19,581 crore, compared to Rs 17,789 crore in the previous year. The bank’s net interest income (NII) grew by 2.1% to Rs 45,659 crore, and non-interest income increased by 14.8% to Rs 16,647 crore. The bank’s operating profit also rose by 4.7% to Rs 32,435 crore.
Looking ahead to FY26, Bank of Baroda plans to continue enhancing its digital capabilities to expand its reach and engagement with customers. The bank’s focus on digital marketing and branding is expected to continue, despite the reduction in advertising spend in FY25. The BFSI sector’s advertising spend is expected to remain robust, with a TAM Adex report revealing a 74% increase in ad impressions in the first half of 2024 compared to the same period in 2022.
Overall, Bank of Baroda’s reduction in advertising spend is a notable achievement, given the increasing competition in the BFSI sector. The bank’s focus on digital marketing and branding, combined with its positive financial performance, positions it well for future growth and expansion. As the bank continues to enhance its digital capabilities, it is likely to remain a major player in the Indian banking sector.
Bank of Baroda UAE and ISG unveil the Jaywan Card, a strategic initiative to boost the UAE’s domestic payment ecosystem
The Bank of Baroda (BoB) in the UAE has partnered with In-Solutions Global (ISG) to launch Jaywan Cards, a sovereign payment system aimed at strengthening the country’s payment infrastructure. The rollout of the cards is expected to begin within the next 30 days. Jaywan is a contactless payment system that supports multi-use functionality for both personal and business needs, and is built on a robust infrastructure aligned with the UAE’s Smart Payment Ecosystem.
The launch of Jaywan is a key milestone in the UAE’s efforts to localize its payments ecosystem, promote financial inclusion, and transition towards a cashless economy. The initiative is part of a broader regulatory alignment and strategic focus on Jaywan cards, and is expected to enhance the UAE’s sovereign payment infrastructure. With Jaywan, the UAE joins a growing number of nations investing in sovereign payment networks that prioritize cost efficiency, compliance, and local innovation.
The Jaywan card system is developed under the guidance of the Central Bank of the UAE (CBUAE) and is designed to provide a secure, efficient, and future-ready payment solution. ISG, which has a strong track record in the GCC, will manage the personalization and operational rollout of Jaywan Cards in partnership with Bank of Baroda. The company’s Senior Vice President, Praveen Balusu, stated that the initiative will empower regional banks to adopt a fully localized payment system and lay the groundwork for seamless cross-border transactions.
The launch of Jaywan comes at a time when digital payments in the UAE are booming, and is expected to have a significant impact on the country’s financial landscape. With its planned interoperability with RuPay, Jaywan is poised to become a game-changer for businesses and consumers alike, providing a seamless and efficient payment experience. Overall, the partnership between BoB and ISG is a significant step towards strengthening the UAE’s payment infrastructure and promoting a cashless economy.
Infrastructure sectors fueled a surge in corporate investments in FY25, according to Bank of Baroda
A recent report by the Bank of Baroda’s Economic Research Department has revealed a significant increase in corporate investment in India, primarily driven by infrastructure-intensive sectors. The report analyzed data from 1,393 companies across 122 industries and found that gross fixed assets, including capital work in progress, rose to ₹28.50 trillion in FY25, representing a 7.6% annual growth from ₹26.49 trillion in FY24.
The top five sectors driving this growth were refineries, telecom services, iron and steel products, cement, and power, which together accounted for 56% of total fixed assets. These core infrastructure industries played a central role in capital formation, with refineries alone accounting for 31% of fixed assets. The next five industries, including public and private sector banks, chemicals, and non-ferrous metals, collectively accounted for another 14.5% of fixed assets.
The report highlights the pivotal role of these 15 industries in driving capital expenditure, representing nearly 81% of corporate fixed assets in FY25. The leading sectors in terms of investment were primarily in the infrastructure space and registered impressive growth rates. However, consumer-oriented industries showed mixed demand, particularly in urban areas, and are expected to regain traction in FY26 with the government’s measures and declining inflation.
The report also noted that sectors such as cement, passenger cars, private and public sector banks, pharmaceuticals, steel, and refineries outpaced the average growth in fixed assets. This growth was driven by government capex, expansion plans, and increasing demand for domestic and export markets. The banking sector invested heavily in technology and setting up new branches, while the pharmaceutical industry saw new capacities being set up to meet domestic and export demand.
Overall, the report provides a granular view of corporate India’s investment patterns, highlighting the importance of infrastructure-intensive sectors in driving growth and the potential for consumer-oriented industries to rebound in the coming year. The findings suggest that the government’s efforts to stimulate investment and consumption are likely to have a positive impact on the economy, with the possibility of increased demand and growth in various sectors.
Bank of Baroda Recruitment 2025: Last chance to apply for 500 Office Assistant vacancies, online registration closes on May 23 at bankofbaroda.in
The Bank of Baroda has announced a recruitment drive for the post of Office Assistant (Peon) with 500 vacancies available in various states. The online registration process began on May 3, 2025, and the last date for submission is May 23, 2025. Interested candidates can apply on the official website at bankofbaroda.in. To register, candidates will need a valid personal email ID and contact number.
The vacancies are divided among different categories: 252 for General, 108 for OBC, 42 for EWS, 33 for ST, and 65 for SC. To be eligible, candidates must have completed their 10th standard or equivalent examination from a recognized school and be proficient in the local language of the respective state or union territory.
The application fee is Rs. 600 plus applicable taxes for General, EWS, and OBC candidates, while SC, ST, PwBD, EXS, DPSXS, and women candidates need to pay Rs. 100. The exam pattern consists of four tests with 25 questions each, totaling 100 marks, with a negative marking of 0.25 marks for incorrect answers. The medium of the test will be English, Hindi, or the official language of the state/UT.
The selection process includes an online test followed by a local vernacular language test for candidates who qualify. To apply, candidates need to visit the Bank of Baroda’s career page, click on “Current Opportunities,” and apply for the office assistant posts. They must fill up the application form, upload documents, pay the fee, and submit the form. Candidates are advised to properly fill the application form and keep the details safe for future reference.
The exam duration will be 20 minutes for each test, and candidates are advised to check the official website for more details. The recruitment is on a regular basis in the subordinate cadre, and candidates are expected to be proficient in the local language of the respective state or union territory. Overall, this is a great opportunity for candidates looking to work with the Bank of Baroda, and interested candidates should apply before the last submission date of May 23, 2025.
Public sector banks shine with surge in gold loans
State-owned banks in India have seen a significant increase in gold loans during the fiscal year 2025, largely due to the rising prices of gold. The country’s largest public lender, State Bank of India (SBI), reported a 53% increase in personal gold loans, reaching Rs 50,011 crore in the quarter ended March 31, 2025. Other public sector banks, such as Indian Bank and Bank of Baroda, also saw substantial growth in their gold loan portfolios, with increases of 81% and 55.6%, respectively.
The growth in gold loans can be attributed to the soaring prices of gold, which rose by over 30% in 2024-25. As a result, customers were able to get a better value for their gold when pledging it for loans. The Loan-to-Value (LTV) ratio, which is the percentage of the collateral’s worth that can be lent, has been fixed at up to 75%, but industry sources say that the average LTV ratio availed by customers is around 67%.
The increasing demand for gold loans has been driven by the fact that they are considered a safe and low-risk form of lending, with almost no non-performing assets (NPAs). Indian Bank’s MD & CEO, Binod Kumar, stated that gold loans have been one of the strong portfolios in India and that the bank expects to grow in this segment by around 20% in the current fiscal year.
Another public sector bank, Indian Overseas Bank (IOB), reported a 45% increase in its cumulative jewel loan portfolio, reaching Rs 69,188 crore in 2024-25. The bank’s MD & CEO, Ajay Kumar Srivastava, attributed the growth to the escalating prices of gold and stated that this segment is going to be one of the major products for the bank.
Overall, the growth in gold loans is expected to continue in the current fiscal year, driven by the rising prices of gold and the increasing demand for safe and low-risk lending products. The public sector banks are expected to benefit from this trend, with gold loans becoming an increasingly important part of their portfolios.
EMI payments on home loans from Bank of Baroda, PNB, and Canara Bank are expected to decrease for certain loan tenures
In a move that could provide relief to borrowers, three state-owned lenders – Bank of Baroda, Punjab National Bank (PNB), and Canara Bank – have announced reductions in their marginal cost of funds-based lending rates (MCLR) across various tenures. The MCLR is a benchmark rate used by banks to set interest rates on floating-rate loans such as home loans, personal loans, and auto loans. A decrease in MCLR can translate to a potential drop in equated monthly installments (EMIs) or a shorter loan tenure, benefiting borrowers in the long term.
Bank of Baroda has reduced its one-year MCLR by 5 basis points to 8.95%, while other tenures remain unchanged. The overnight MCLR stands at 8.15%, the one-month MCLR at 8.35%, the three-month MCLR at 8.55%, and the six-month MCLR at 8.80%. These rates are effective from May 12, 2025.
Canara Bank has lowered its overnight MCLR from 8.30% to 8.20% and its one-month MCLR from 8.35% to 8.25%. The three-month MCLR is now at 8.45%, down from 8.55%, while the six-month MCLR has been lowered to 8.80% from 8.9%. The one-year MCLR has been reduced from 9.10% to 9.00%, and the two-year and three-year MCLR have been brought down by 10 basis points each.
Punjab National Bank has reduced its overnight MCLR from 8.40% to 8.25% and its one-month MCLR from 8.50% to 8.40%. The three-month MCLR now stands at 8.60%, down from 8.70%, and the six-month MCLR has been revised to 8.80% from 8.90%. The one-year MCLR has been cut from 9.05% to 8.95%, and the three-year MCLR has been brought down by 10 basis points, from 9.35% to 9.25%. The new rates are effective from May 1, 2025.
The reduction in MCLR rates by these public sector banks is expected to provide relief to borrowers, especially those with existing floating-rate loans. However, it is essential to note that the actual impact on borrowers will depend on the bank’s discretion and the specific loan terms. Borrowers should check with their banks to determine the exact reduction in their EMIs or loan tenure. Overall, the reduction in MCLR rates is a positive step towards making loans more affordable for borrowers.
Previous Year Question Papers for Bank of Baroda Office Assistant, Sample Paper PDF Available for Download
Preparing for the Bank of Baroda Office Assistant exam can be challenging, but utilizing previous year papers and sample papers can be a valuable resource. These papers provide insight into the exam pattern, types of questions, and difficulty level, allowing candidates to improve their speed and accuracy. By solving these papers, individuals can identify important topics, gain confidence, and manage their time more effectively.
The Bank of Baroda Office Assistant previous year papers are available for download in PDF format, providing a realistic exam experience. Solving these papers helps candidates understand the types of questions asked and identifies areas where they need more practice. Regular practice with these papers can improve performance and boost preparation.
To maximize the benefits of solving previous year papers, several tips can be followed. Firstly, it is essential to read questions carefully and understand what is being asked before answering. Starting with easy sections can help build speed and save time for tougher sections. Time management is also crucial, and candidates should avoid spending too much time on a single question. If a question is confusing, it is best to skip it and come back later.
Additionally, candidates should avoid guesswork, especially if there is negative marking. Instead, they should try to eliminate wrong options first. Regular practice is also vital, and setting a timer while solving sample papers can help improve speed and accuracy. Finally, reviewing answers before submitting the paper can help catch any mistakes.
By following these tips and regularly practicing with previous year papers, candidates can improve their performance and increase their chances of success in the Bank of Baroda Office Assistant exam. The previous year papers can be downloaded in PDF format, and candidates can start practicing right away. With dedication and consistent practice, individuals can achieve their goal of becoming an Office Assistant at the Bank of Baroda.
The Reserve Bank of India (RBI) has slapped penalties on five major banks, including ICICI Bank, Bank of Baroda, Axis Bank, and two others.
The Reserve Bank of India (RBI) has imposed penalties on five major banks, including ICICI Bank, Bank of Baroda, Axis Bank, IDBI Bank, and Bank of Maharashtra, for non-compliance with various regulatory directions. The penalties, ranging from ₹29.60 lakh to ₹97.80 lakh, were imposed due to deficiencies in regulatory compliance in areas such as cyber security, know your customer (KYC) norms, credit and debit card issuance, and customer service.
ICICI Bank was fined ₹97.80 lakh for non-compliance with RBI directions on cyber security, KYC, and credit and debit card issuance. Bank of Baroda was penalized ₹61.40 lakh for non-compliance with directions on financial services and customer service. IDBI Bank and Bank of Maharashtra were each fined ₹31.80 lakh for non-compliance with directions on interest subvention scheme for agricultural loans and KYC norms, respectively.
Axis Bank was penalized ₹29.60 lakh for unauthorized operation of internal accounts. The RBI clarified that the penalties were not intended to question the validity of any transactions or agreements entered into by the banks with their customers, but rather to address the deficiencies in regulatory compliance.
The penalties are a reminder of the RBI’s focus on ensuring that banks adhere to regulatory requirements and maintain high standards of compliance. The central bank has been actively monitoring banks’ compliance with various regulations and has taken enforcement actions against those that fail to meet the required standards. The penalties imposed on these five banks serve as a warning to other lenders to ensure that they are in compliance with all regulatory requirements to avoid similar penalties in the future. Overall, the RBI’s actions aim to promote a safe and sound banking system that protects the interests of customers and maintains public trust in the financial sector.
Deposit ₹ 1,00,000 in Bank of Baroda and earn a guaranteed return of ₹ 16,022 – learn more now!
The Bank of Baroda, India’s second-largest government bank by market capitalization, is offering a savings scheme that provides a fixed interest of Rs 16,022 on a deposit of just Rs 1 lakh. This scheme is a 2-year fixed deposit (FD) plan that offers an interest rate of 7.00% to ordinary citizens and 7.50% to senior citizens. The interest rates offered by Bank of Baroda on its FD schemes range from 4.25% to 7.65%, depending on the tenure of the deposit.
The 2-year FD scheme is a lucrative option for those looking to invest their savings for a fixed period. By depositing Rs 1 lakh, an ordinary citizen under the age of 60 can earn a total of Rs 1,14,888 on maturity, which includes the principal amount and the interest earned. This translates to a fixed interest of Rs 16,022 over the 2-year period.
It’s worth noting that the interest rates offered by Bank of Baroda have been revised after the Reserve Bank of India reduced the repo rate. Despite this, the bank’s FD schemes remain an attractive option for those looking to earn a fixed return on their investments. Senior citizens can earn an even higher interest rate of 7.50% on the 2-year FD scheme, making it an attractive option for retired individuals looking to supplement their income.
Overall, the Bank of Baroda’s 2-year FD scheme offers a competitive interest rate and a fixed return on investment, making it a popular choice among savers. With a deposit of just Rs 1 lakh, individuals can earn a significant interest of Rs 16,022 over a period of 2 years, making it a worthwhile investment option for those looking to grow their savings.
Bank of Baroda launches comprehensive Environmental, Social, and Governance (ESG) framework
On Earth Day 2025, Bank of Baroda launched its environment, social, and governance (ESG) policy, outlining its commitment to achieve net zero emissions by 2057. The bank’s initiative aligns with the Earth Day 2025 theme, “our power our planet,” which emphasizes the importance of renewable energy sources. As part of its efforts to promote sustainability, the bank will prioritize financing for renewable energy projects.
To contribute to a greener planet, Bank of Baroda has also launched a “plant a tree” program, under which it has planted over 30,000 trees on behalf of its customers for every auto and home loan disbursed in 2025. The bank’s managing director and CEO, Debadatta Chand, emphasized the importance of being a responsible corporate citizen, stating that the bank aims to embed ESG practices into its core strategy and operations.
In addition to its ESG policy, the bank has introduced a range of sustainable finance products, including green deposits, residential rooftop solar loan schemes, and green hydrogen financing schemes. To raise awareness about sustainable finance among its employees, the bank is conducting a “green financing” training and capacity-building workshop. The bank has also launched a dedicated web space, “BOB Earth,” to showcase its sustainability initiatives and progress towards achieving its ESG goals.
The launch of the ESG policy and net zero commitment demonstrates Bank of Baroda’s commitment to promoting environmental sustainability, social well-being, and good governance. By prioritizing sustainable finance and reducing its carbon footprint, the bank aims to contribute to a more environmentally friendly future. The “plant a tree” program and other sustainability initiatives undertaken by the bank highlight its efforts to make a positive impact on the environment and promote eco-friendly practices among its customers and employees. Overall, Bank of Baroda’s ESG policy and sustainability initiatives mark an important step towards achieving a more sustainable future.
Maximize Your Returns: Compare the 444-Day Special Fixed Deposits of SBI, IDBI, BoB, and Punjab & Sindh Bank to Find Out Which One Offers the Highest Interest on Your Rs 6 Lakh Investment
Several banks in India have introduced or extended special fixed deposit (FD) schemes, offering investors attractive interest rates for specific durations. These schemes are similar to regular term deposits but are available only for a limited time and often come with enhanced interest rates. Recently, the Reserve Bank of India (RBI) has cut the repo rate by 25 basis points, prompting banks to adjust their interest rates downward.
Punjab & Sind Bank has extended its special tenure fixed deposit scheme until June 30, 2025, and has also revised its interest rates. IDBI Bank has revamped its Utsav Deposit Scheme, discontinuing certain tenures and implementing interest rate cuts across key tenures. The State Bank of India (SBI) has relaunched its Amrit Vrishti 444-day FD at a reduced interest rate, giving investors another opportunity to lock in returns on a medium-term deposit.
Bank of Baroda (BoB) has introduced a new deposit scheme called the bob Square Drive Deposit Scheme, replacing its earlier Utsav Deposit Scheme. The 444-day FD under this new plan offers revised interest rates for both general and senior citizens. These changes are effective from April 7, 2025. The interest rates offered by these banks are subject to change and may not be the same as those offered by other banks.
It’s essential for investors to do their due diligence and consult with a financial expert before making any investment decisions. The calculations provided are projections and not investment advice. Investors should carefully review the terms and conditions of each scheme, including the interest rates, tenure, and any applicable penalties for early withdrawal.
Overall, the special FD schemes offered by these banks provide investors with an opportunity to earn attractive interest rates on their deposits. However, investors should be aware of the risks and rewards associated with these schemes and make informed decisions based on their individual financial goals and risk tolerance. By doing so, investors can make the most of these special FD schemes and achieve their financial objectives.
Why are savings accounts now yielding higher interest rates, especially following the RBI’s latest rate cut? Find out the top banks offering the best returns – Money News
The Reserve Bank of India (RBI) has slashed its repo rate by 50 basis points, marking the end of the high interest rate regime in the country. This move has led to a cascade effect, with several banks, including public and private sector lenders, cutting their lending rates and adjusting their fixed deposit rates. As a result, interest rates on savings accounts have also been reduced.
Public sector banks, such as State Bank of India, Punjab National Bank, and Bank of Baroda, are currently offering interest rates ranging from 2.7% to 2.9% on savings accounts. Private sector banks, on the other hand, are offering slightly better rates, ranging from 2.75% to 3.25%.
The RBI’s focus is now on accelerating economic growth, and if retail inflation remains stable, it may cut rates further in the future. This could have a direct impact on fixed deposits and savings accounts, with banks potentially paying lower interest rates.
Adhil Shetty, CEO of BankBazaar, suggests that depositors should consider investing in other instruments, such as fixed deposits, mutual funds, or government savings schemes, to earn higher returns. In the current environment, earning interest from a savings account alone may not be sufficient.
The trend of lower interest rates is expected to continue, as the RBI prioritizes growth support and inflation remains within its comfort zone. For depositors, this may mean lower returns on traditional deposits, but it could also lead to cheaper borrowing and encourage consumption and investment.
Don’t miss the deadline! Apply for 146 SRM and other vacancies by [insert date] – learn more here
The Bank of Baroda has announced a recruitment drive to fill 146 vacant positions for various posts, including Senior Relationship Manager, Private Banker, Territory Head, and others. Eligible candidates can apply on the official website, www.bankofbaroda.in, until the registrations conclude.
The eligible candidates can check the vacancy details, pay scale, educational qualifications, and other requirements in the official notification. Here’s a brief overview of the posts:
- Deputy Defence Banking Advisor (DDBA): 1
- Private Banker – Radiance Private: 3
- Group Head: 4
- Territory Head: 17
- Senior Relationship Manager: 101
- Wealth Strategist (Investment & Insurance): 18
- Product Head – Private Banking: 1
- Portfolio Research Analyst: 1
To apply for these positions, candidates can follow these steps:
- Visit the official Bank of Baroda website (www.bankofbaroda.in).
- Go to the ‘Career’ tab and select ‘Current Opportunities’.
- Click on the ‘Apply Now’ button under the Advt No. BOB/HRM/REC/ADVT/2025/03.
- Fill in the application form, upload required documents, and pay the application fee as per your category (Rs. 600 for General, EWS, and OBC candidates and Rs. 100 for SC, ST, PWD, and Women candidates).
- Submit the form and keep a printout for future reference.
India’s production showed a late-year surge in FY25, but is expected to encounter challenges in FY26, according to Bank of Baroda’s outlook.
According to a Bank of Baroda report, India’s industrial production showed signs of improvement towards the end of FY25, driven by rising manufacturing PMI, GST collections, and e-way bill generations. The report suggests that the production growth may have picked up in the last quarter of the previous financial year, although the first quarter of the current fiscal year may face some pressure due to uncertain global trade conditions. The Reserve Bank of India’s decision to reduce policy rates is expected to lower the cost of credit, which may encourage production and investment. Additionally, the Trump administration’s announcement of a 90-day pause on country-specific tariffs and softer global commodity prices are seen as positives for the sector’s near-term outlook.
However, recent data shows a mixed picture. India’s Index of Industrial Production (IIP) growth slowed to 2.9% in February 2025, down from 5.6% in February 2024 and 5.2% in January 2025. The decline in output was broad-based, with the mining and electricity sectors witnessing the most significant slowdown. Within the manufacturing segment, several key industries reported lower output, including basic metals, wearing apparel, chemicals, and motor vehicles. On the other hand, some sub-sectors such as pharmaceuticals, textiles, and computers/electronics saw an improvement in output.
Under the use-based classification, only capital goods showed year-on-year growth, while output of primary goods, intermediate goods, infrastructure goods, and consumer durables fell. The IIP growth for the fiscal year so far has moderated to 4.1%, compared to 6% growth in the same period last year. While production may have picked up towards the end of FY25, the outlook for Q1 of FY26 remains mixed, with both positive and negative factors influencing the sector’s growth.
Indian Overseas Bank Cuts Repo-Linked Lending Rate to 8.85% Post RBI Rate Reduction
Indian Overseas Bank (IOB) has announced a 25 basis points reduction in its Repo Linked Lending Rate (RLLR), effective immediately. The new rate stands at 8.85%, down from 9.10%. This move comes after the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decision to reduce the Policy Repo Rate from 6.25% to 6%. The rate cut is a response to rising global economic uncertainties, particularly the United States’ announcement of 27% tariffs on Indian imports. The bank’s Asset Liability Management Committee (ALCO) convened on April 11 and decided to pass on the benefit of the reduced policy rate to customers. The revised rate structure aims to enhance credit affordability and encourage economic activity during a time of global economic flux.
IOB’s decision aligns with its policy of promptly responding to monetary policy changes and supporting borrowers with reduced interest burdens. The bank’s move is a step towards easing the financial burden on customers and encouraging them to borrow at a lower rate of interest. This development is significant, as it comes amidst global economic uncertainties and a potential slowdown in economic growth.
The reduction in RLLR will have a cascading effect on other lending rates, such as the Marginal Cost of Funds-Based Lending Rate (MCLR), which is used to determine the interest rates on home and other loans. This move is expected to benefit consumers and corporates alike, making borrowing more affordable and sustainable. IOB’s decision to pass on the benefit of the rate cut to customers is a positive step, as it demonstrates the bank’s commitment to supporting economic growth and promoting credit accessibility.
IOB’s announcement is the latest in a series of rate cuts by public sector lenders in India. The bank joins other state-owned banks such as Bank of Baroda (BoB), which recently cut its lending rates by 25 basis points. The move is seen as a response to the RBI’s rate cut and reflects the bank’s focus on supporting economic growth and promoting credit availability. The rate reduction will also help to increase loan disbursements and boost economic activity, thereby supporting India’s growth momentum. Overall, IOB’s decision to reduce its RLLR is a welcome move, which will benefit customers and contribute to the overall economic well-being of the country.
Outshining ICICI Bank and Axis Bank, HDFC Bank’s interest rates are the lowest – See the latest rates from India’s top private lender – Personal Finance
HDFC Bank, India’s second-largest bank by assets, has reduced its interest rate on savings accounts by 25 basis points to 2.75%. This reduction is effective from April 12 and applies to savings accounts with balances less than Rs 50 lakh, earning an interest rate of 2.75% per annum. Accounts with balances over Rs 50 lakh will earn an interest rate of 3.25% per annum. This move comes after the Reserve Bank of India (RBI) announced a second consecutive benchmark repo rate cut, which has shifted its monetary policy stance from Neutral to Accommodative.
The reduction in HDFC Bank’s interest rate brings it closer to public sector lenders like State Bank of India and Punjab National Bank, which offer a minimum interest rate of 2.70% on savings account deposits since 2022. HDFC Bank’s interest rate is now on par with Bank of Baroda, which offers an interest rate of 2.75% on deposits up to Rs 50 crore.
In comparison, HDFC Bank’s peers, ICICI Bank and Axis Bank, are currently offering a minimum interest rate of 3% on balances below Rs 50 lakhs. The reduction in HDFC Bank’s interest rate is likely a response to the changing economic environment and the RBI’s move to prioritize growth over inflation control.
Widespread disruption: India’s UPI transaction system crashes, leaving users unable to access multiple apps and services nationwide | Top News Stories
A major outage affected several UPI (Unified Payments Interface) apps on Saturday, preventing users from sending and receiving money. According to data from Downdetector, a website that tracks app outages, over 2,300 reports of UPI issues were submitted around 1 PM. Google Pay, Paytm, and various banks were among the apps affected. The outage caused significant inconvenience to users across India, marking the third major UPI outage in the past 30 days.
The most affected banks included State Bank of India (SBI), HDFC Bank, Axis Bank, Bank of India, Indian Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda, Federal Bank of India, IDBI Bank, Yes Bank, IndusInd Bank, and IDFC Bank. Many users reported issues with mobile banking, online banking, fund transfers, and bill payments.
While the outage was widespread, no single issue dominated the reports. Some users reported payment failures, while others experienced problems with transactions, mobile banking, and online banking. The exact cause of the outage is not clear, but it highlights the importance of reliable payment systems and the need for banks and fintech companies to prioritize user experience.
The recent outage serves as a reminder that technology can fail, and it is essential to have backup plans and redundancy measures in place to minimize the impact of outages. In the meantime, affected users are advised to monitor the situation and wait for further updates from their banks and fintech companies.
Bank of Baroda, Indian Bank, and PNB Cut Loan Interest Rates in Response to RBI’s Repo Rate Reduction
The Reserve Bank of India (RBI) recently cut the repo rate, leading to expectations of cheaper loans for account holders. Now, three major government banks – Bank of Baroda, Indian Bank, and Punjab National Bank – have announced a reduction in interest rates on their loans. These measures aim to provide relief to common customers by making loans cheaper and decreasing the burden of Equated Monthly Installments (EMIs).
Indian Bank, based in Chennai, has cut its repo benchmark rate and repo-linked benchmark lending rate from April 11, 2025. The repo benchmark rate has been reduced from 6.25% to 6.00%, while the repo-linked benchmark lending rate has come down from 8.70% to 8.40%. The bank’s decision aligns with RBI’s policy of providing loans at affordable interest rates. Punjab National Bank, the country’s second-largest bank, has reduced its repo-linked lending rate by 25 basis points from 9.10% to 8.85%. Bank of Baroda has also cut its interest rate on loans by 0.25% to provide convenience to customers.
These interest rate reductions will primarily benefit customers whose loans are linked to the RBI’s repo rate. Home loan, personal loan, and auto loan holders can expect significant relief as a result of the RBI’s order. Other banks may follow suit, further decreasing loan rates and making loans even cheaper for consumers.
Bank of Baroda lowers interest rates by 25 basis points, benefiting its customers
The State-owned Bank of Baroda (BoB) has announced that it will immediately transmit the Reserve Bank of India’s (RBI) latest policy rate cut of 25 basis points to its customers. This means that the bank’s external benchmark-linked lending rates for retail and MSME (Micro, Small and Medium Enterprises) loans will be reduced by 25 basis points. This decision aims to ensure that customers benefit quickly from the RBI’s monetary policy move.
The RBI had slashed key interest rates by 25 basis points for the second time in a row to support economic growth, which is facing threats from reciprocal tariffs imposed by the US. However, the Bank of Baroda has left the marginal cost of funds-based lending rate (MCLR) unchanged. The benchmark one-year tenor MCLR, which is used to price most consumer loans such as auto and personal loans, has been kept unchanged at 9%.
The reduction in lending rates is expected to benefit customers by making borrowing costs more affordable. This move is likely to have a positive impact on the economy, as it will increase consumer and business confidence, leading to increased spending and investment. The Bank of Baroda’s decision to immediately transmit the RBI’s policy rate cut shows its commitment to passing on the benefits of monetary policy to its customers.
Overall, the Bank of Baroda’s announcement is a positive development for borrowers, particularly in the retail and MSME segments, who are likely to benefit from the reduced interest rates. The move is also expected to support economic growth by increasing the availability of credit and making borrowing more affordable.
Bank of Baroda responds to RBI rate cut by slashing lending rates for retail borrowers, a boon for individuals seeking loans
The Bank of Baroda (BoB) has announced that it will pass on the benefits of the recent RBI rate cut to its customers immediately. Following the RBI’s decision to reduce the repo rate by 25 basis points, several public sector banks, including Punjab National Bank, Bank of India, Indian Bank, and UCO Bank, have already cut their lending rates by up to 35 basis points. BoB has now also reduced its external benchmark-linked lending rates for retail and MSME customers.
The new rates will be effective immediately, and existing customers will also benefit from the rate cut. The bank’s Overnight Marginal Cost of Funds-Based Lending Rate (MCLR) stands at 8.15%, and its one-year MCLR is 9%. This puts BoB among the most competitive banks in the industry.
The rate cut by the Reserve Bank of India was the second consecutive reduction, following the 25 basis point cut in February. Loan borrowers from other banks are now hoping that their loan interest rates will also come down, totaling a 50 bps reduction.
According to the bank, this move reaffirms its commitment to providing credit at affordable rates and supporting economic growth and financial inclusion. The rate cut is expected to benefit individuals and businesses, especially those belonging to the retail and MSME segments. However, it is not clear whether other banks will follow suit, but the move by BoB is a positive development for Consumers.
Equitas SFB slashes rates, Bank of Baroda tees off with new scheme as RBI’s MPC meet approaches – MSN
Equitas Small Finance Bank (Equitas SFB) has reduced its lending rates for personal and business loans, in line with the several other banks that have cut their rates recently. In recent days, several banks including top 5 lenders, banks, have slashed interest rates on various loan products.
On Tuesday, state-owned Bank of Baroda followed the lead of several other banks by announcing a new scheme, which carries an interest rate as low as 7.45%. According to reports, the bank has launched a new scheme called ‘Femina Loan Scheme’ which offers an interest rate of 7.45% for women loan borrowers. Analysts consider this to be the lowest ever rate by the bank to date. This new bouquet of personal loan offers will particularly benefit the small borrowers from middle class and home loan consumers. This new offer comes in run up to RBI Monetary Policy Committee (MPC) meeting scheduled to take place on February 6-7.
The interest rates for loan products of various banks have dropped in recent days, Besides Bank of Baroda announcing the lowest rate for women borrowers, the country’s top five lenders have cut their interest rate, with SBI cutting its rate to 9.15% from 9.60% to 9.55%, after an RBI move to cut its repo rates in February.
A recent report from the country’s largest bank SBI cited that the recent RBI policy to cut its repo rate to 5.40% will improve liquidity in the economy. Buyers may see more savings in loan rates. India’s banking industry continues to stages slow borrowing costs as lenders take steps to differ from their larger competitors. Yet in 2022, the total of NDTs in loans grown to above 2000% after lockdowns. Equity mergers and weddings to see rising asset demand. Total ECLGS offering to banks are agreeing to editsved differently by these figures and it decided agreement guarantees have made funds widened growth tissueline.
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Bank of Baroda launches Square Drive Fixed Deposit Scheme offering 7.75% interest, replacing Utsav deposits
State-owned Bank of Baroda has made significant changes to its fixed deposit (FD) offerings, introducing a new scheme called the ‘bob Square Drive Deposit Scheme’ and revising existing interest rates. The new scheme, which took effect on April 7, 2025, offers an interest rate of 7.15% per annum for general citizens, 7.65% for senior citizens, and 7.75% for super senior citizens for callable deposits.
The bank has discontinued its special Utsav Deposit Scheme and adjusted its FD offerings to better align with changing market conditions. The revised FD interest rates range from 4.25% to 7.15% for general citizens and 4.75% to 7.65% for senior citizens, depending on the deposit period and amount.
The new scheme and revised rates are applicable to deposits below Rs 3 crore. For callable deposits, the bank offers an interest rate of 7.15% for general citizens, 7.65% for senior citizens, and 7.75% for super senior citizens for deposits with a tenor of 444 days.
In addition to the new scheme, the bank also offers tax-saving FDs with interest rates ranging from 6.50% to 7.50%. Senior and super senior citizens receive higher interest rates on tax-saving FDs, making it a more attractive option for long-term savings.
The revised interest rates and new scheme aim to provide customers with a more competitive and flexible FD option, while also ensuring that the bank’s interests are aligned with market conditions. Overall, the changes aim to balance customer needs with the bank’s financial goals.
Central Bank Signals Potential Rate Reduction as Economy Faces Increasing Pressure
The Reserve Bank of India (RBI) is expected to lower its key interest rates by up to 25 basis points this week, driven by easing inflation and the need to boost economic growth. The Monetary Policy Committee (MPC) is set to convene on April 7, with an official announcement expected on April 9. The decision comes as global economic challenges, particularly new tariffs from the United States, loom on the horizon.
Madan Sabnavis, Chief Economist at Bank of Baroda, emphasizes the importance of the upcoming policy announcement, citing the global economic landscape’s uncertainties due to US tariffs on around 60 countries, including India and China. Experts believe that with inflation rates under control and liquidity levels stabilized, the RBI is in a favorable position to implement a 25 basis point rate cut.
The recent tariffs imposed by the US present both challenges and opportunities for India. Competitors in key export markets, such as China, Vietnam, and Bangladesh, will face increased duties, potentially making Indian goods more competitive. Rating agency Icra has projected a 25 basis point rate cut in the upcoming MPC meeting while maintaining a neutral outlook on future policy changes.
Industry body Assocham has urged a cautious approach, advocating for a “wait-and-watch” strategy rather than an immediate rate cut. However, other experts believe that the RBI may adopt a more “accommodative” stance, indicating the possibility of additional rate cuts later this year.
Retail inflation has recently dropped to a seven-month low of 3.61% in February, primarily due to declining prices of vegetables and proteins. This decline has created an opportunity for the RBI to consider further rate reductions. The MPC’s decision will ultimately hinge on a combination of domestic economic conditions and external pressures.
A potential 25 basis point rate cut would make borrowing more affordable, particularly in the housing market, and stimulate consumption. However, the actual impact will depend on how quickly commercial banks pass on the RBI’s policy changes to consumers. The outcome of the meeting on April 9 will provide crucial insights into the RBI’s strategy moving forward, as it seeks to balance growth stimulation with inflation control.
The Reserve Bank of India’s Monetary Policy Committee (MPC) kicks off its meeting today, with SBI predicting a 25-basis-point rate cut in the April 9 announcement.
The Reserve Bank of India (RBI) is set to hold its next Monetary Policy Committee (MPC) meeting from April 7-9, where it will review the current economic conditions and decide on policy rates. RBI Governor Sanjay Malhotra will announce the outcome on April 9 at 10 AM. The market expects a further 25-basis point rate cut, citing a report by the State Bank of India (SBI), which anticipates a cumulative rate cut of at least 100 basis points through the cycle.
Economists are divided on the expected rate cut. Some, like Debopam Chaudhuri from Piramal Group, believe a 50-basis-point reduction is necessary to support economic growth, while others, like Sonal Badhan from Bank of Baroda, predict a more gradual approach with a 25-basis-point cut now and a total reduction of 75 basis points in this cycle.
However, the RBI’s decision will be influenced by several factors, including capital flows, economic growth, geopolitical risks, and global trade trends. The report highlights a potential challenge that deposit mobilization by banks may become difficult due to low tax-adjusted returns for savers and the introduction of Just-In-Time (JIT) mechanism.
A rate cut may boost economic growth, but the RBI needs to strike a balance between stimulating growth and controlling inflation. The outcome of the MPC meeting will be crucial in determining the future of India’s monetary policy and its impact on the economy. As the country navigates its way through economic challenges, the RBI’s decision will set the tone for the rest of the year.
BoB expects signing of the Indo-US trade pact to alleviate pressure on the economy.
A recent report by Bank of Baroda (BoB) suggests that the immediate impact of higher US tariffs on India’s economy is uncertain, but a potential trade deal could mitigate its effects. India’s economy is largely driven by domestic consumption, which accounts for 60% of its GDP. On the other hand, merchandise exports make up only 12% of India’s GDP in FY24. The report assumes a 10% decline in the value of India’s exports to the US, which would lead to a 0.2% impact on India’s GDP growth.
However, the report highlights that exemptions on pharmaceutical products and the possibility of a trade agreement between India and the US could limit the negative impact of the tariffs. A mutually beneficial trade deal could help reduce the impact of higher tariffs, making it a viable solution to mitigate the effects of the US tariffs on India’s economy.
The report suggests that a trade deal could benefit both countries, leading to increased trade and economic growth. India could gain access to the large US market, while the US could benefit from India’s large consumer market and its position as a hub for pharmaceutical exports. The report concludes that a trade deal by the end of this year could limit the impact of higher US tariffs on India’s economy, making it a crucial step in maintaining economic stability and growth in the country.
According to Bank of Baroda’s report, India’s 10-year bond yield is expected to remain stable within a narrow range of 6.25-6.55% for the fiscal year 2026, driven by prudent borrowing strategies.
According to a report by Bank of Baroda, India’s 10-year bond yield is expected to trade between 6.25-6.55% in the current fiscal year (FY26). The report attributes this projection to the government’s carefully planned borrowing program, which includes a higher supply of securities at the shorter end of the yield curve. This is expected to keep the long end of the curve stable. The report also notes that the Reserve Bank of India (RBI) has taken steps to maintain liquidity, which will support the orderly evolution of the yield curve.
India’s 10-year yield had shown some stickiness in the last financial year (FY25), particularly in April, due to rising US 10-year yields and tighter inflation data. However, the yield curve subsequently became rangebound due to the Federal Reserve’s earlier-than-expected rate cuts, India’s inclusion in global bond indices, and a prudent fiscal framework. The RBI’s increased demand for securities through Open Market Operations (OMOs) also capped the impact of these factors on yields.
Another important driver of domestic yields has been India’s increasing weight in global bond indices, which has attracted significant foreign portfolio investment (FPI) flows, particularly through the fully accessible route (FAR) route. Additionally, the report highlights the buoyant demand conditions from banks, mutual funds, and pension funds, which have supported yields in a tight liquidity environment. Overall, the report expects India’s 10-year bond yield to remain stable and within the projected range of 6.25-6.55% in FY26.
Financial institutions show remarkable growth in fourth-quarter lending and deposits, according to latest banking and finance reports.
The four Indian banks, HDFC Bank, Bank of Baroda, Bank of India, and IDFC First Bank, have reported robust growth in advances and deposits for the fourth quarter of 2024-25. According to their provisional business updates, HDFC Bank’s deposits grew 14.1% year-on-year to ₹27.15 lakh crore, while its gross advances rose 5.4% YoY to ₹26.43 lakh crore. The bank’s CASA deposits, which are current and savings accounts, achieved a growth of around 3.9% over the year-ago period.
Bank of Baroda’s domestic deposits increased by 9.28% to Rs 12.42 lakh crore, while domestic advances gained 13.7% to Rs 10.21 lakh crore. The lender’s global business grew 11.44% in the quarter under review to Rs 27.03 lakh crore.
Bank of India reported a growth in domestic deposits to Rs 7 lakh crore, from Rs 6.8 lakh crore in the previous quarter. Global deposits also rose to Rs 8.2 lakh crore, compared with Rs 7.9 lakh crore in the previous quarter. The bank’s global business grew to Rs 14.8 lakh crore, from Rs 14.5 lakh crore in the December quarter. Its global gross advances increased to Rs 6.7 lakh crore, up from Rs 6.5 lakh crore in the previous quarter.
IDFC First Bank’s loans and advances witnessed a significant increase of 20.3% to Rs 2.41 lakh crore. Deposits also grew 25.2% to Rs 2.42 lakh crore. The strong growth in advances and deposits indicates a positive trajectory for these banks in the coming years.
Indian Bank Names Venkatachalam Anand as Chief Officer for Vigilance
Shri Venkatachalam Anand has been appointed as the new Chief Vigilance Officer (CVO) of Indian Bank, effective April 1, 2025. Anand, who previously held the position of CVO at UCO Bank, will take over from Shri Vishesh Kumar Srivastava, who is being transferred to Bank of Baroda. Srivastava’s tenure as Indian Bank’s CVO came to an end on April 1, 2025.
Shri Venkatachalam Anand has over three decades of experience in the banking sector. He joined Bank of India (BOI) in 2000 as a Senior Manager (Law) and has since worked in various roles, including as Assistant General Manager and Zonal Manager. His expertise lies in law, recovery, and asset management, as well as retail business.
As CVO, Shri Anand will be responsible for ensuring the integrity and transparency of Indian Bank’s operations. His appointment comes at a time when the bank is undergoing significant changes, including a shift towards digital banking and increased focus on customer service.
Shri Anand’s tenure at UCO Bank has been marked by significant achievements, including improving the bank’s recovery rates and enhancing its risk management strategy. His experience and expertise will undoubtedly be valuable in his new role as CVO of Indian Bank.
Introducing the Baroda mDigiNext Mobile App: Bank of Baroda’s Latest Innovation in Digital Banking
Bank of Baroda, a leading public sector bank in India, has launched the Baroda mDigiNext mobile app to cater to the cash management needs of its corporate customers. The app is designed to provide a user-friendly experience, advanced financial tools, and seamless execution, offering real-time access to essential services and insights. With the app, corporate clients can manage their working capital and cash flows more efficiently, making faster and more informed financial decisions.
The Baroda mDigiNext app is a state-of-the-art tool that streamlines cash management operations and workflows, enabling corporates to access financial information anywhere, anytime. The app’s features include advanced payment functionalities, making it a unique offering in the market. The launch of the app marks a significant milestone in the evolution of cash management services, reflecting Bank of Baroda’s commitment to innovation and digital solutions.
The app is designed to provide a transformational experience for corporate clients, offering rich insights that will help them stay competitive in a fast-paced business environment. According to Debadatta Chand, Managing Director and CEO of Bank of Baroda, the app will “set a new experience for corporate clients in cash management and banking services.” Lalit Tyagi, Executive Director at Bank of Baroda, added that the app’s launch “reaffirms our commitment to delivering innovative, future-ready digital solutions” and will enhance convenience, efficiency, and control over cash flow management for corporate clients.
Bob is set to amplify its retail investments, intensifying its efforts to drive growth and expansion.
Bank of Baroda (BoB), India’s second-largest public sector lender, is shifting its focus to retail loan growth, particularly in home loans, as it seeks to capitalize on a 20% compound annual growth rate for the next three years. The bank’s retail loan book is expected to increase to around 32% of its total loan book in the next three years, up from 27% currently. Home loans currently account for around 51% of BoB’s loan book, lower than the 55% of its larger peer State Bank of India (SBI).
However, the bank is now giving home loans a renewed push, particularly with the success of its personal and auto loans slowing down. Automating credit appraisals using Aadhaar for KYC and new score card models have reduced the turnaround time for home loans, allowing the bank to scale up its housing portfolio. With a vast network of 8,300 branches, including over 50% in rural and semi-urban areas, BoB is well-positioned to tap into the growing demand for home loans.
The bank’s strategy involves tie-ups with auto companies to offer loans to their employees, as well as targeting corporate account employees with personal loans. This diversification of its retail loan book is expected to help BoB stay ahead of the competition and maintain its growth momentum. With its extensive branch network and efforts to digitize its lending processes, the bank is well-equipped to tap into the growing demand for home loans and capitalize on the expected growth in the retail loan segment.
Isuzu India and Bank of Baroda Join Forces to Offer Dealer Invoice Finance Solution
SML Isuzu Ltd, a renowned name in the commercial vehicle industry, has partnered with Bank of Baroda to launch the Dealer Invoice Finance Program. The initiative is designed to provide SML Isuzu dealers across India with easy access to supply chain finance solutions, ensuring smoother operations, improved cash flow, and enhanced inventory turnover.
The partnership aims to empower SML Isuzu dealers to scale their businesses and grow, by offering them flexible credit solutions. This co-operation also aligns with SML Isuzu’s commitment to strengthening its dealer network and reinforcing its presence in the commercial vehicle segment.
The agreement was formally signed by Prashant Kumar, Chief General Manager – Marketing, SML Isuzu Ltd, and Kapil Bhardwaj, AGM & Branch Head, Mid Corporate Branch, Bank of Baroda – Ludhiana. This strategic collaboration is expected to benefit SML Isuzu dealers by providing them with the necessary support to navigate the increasingly competitive commercial vehicle market.
By partnering with Bank of Baroda, SML Isuzu is demonstrating its commitment to its dealer network, recognizing the importance of financial empowerment for its partners. The Dealer Invoice Finance Program is likely to be a game-changer for SML Isuzu dealers, enabling them to make informed business decisions, manage cash flow more effectively, and scale their operations.
With this partnership, SML Isuzu is poised to further strengthen its presence in the commercial vehicle segment, as it continues to expand its reach and grow its network of dealerships. By providing its dealers with the support they need to succeed, SML Isuzu is positioning itself for long-term success and reinforcing its position as a leading player in the industry.
Bank of Baroda introduces its cutting-edge ‘CorpConnect’ mobile app, designed to cater specifically to the needs of corporate clients.
Bank of Baroda (BoB) has launched a new mobile app called “mDigiNext” to cater to the cash management needs of its corporate customers. This dedicated cash management services app offers payment functionalities that enable businesses to manage their working capital and cash flows efficiently, resulting in greater operational efficiency and speed. The app provides 24/7 access to essential financial tools, empowering corporates to make swift and informed financial decisions.
The app offers various features such as one-to-one transaction creation and authorization, bulk upload authorization and rejection, end-to-end transaction tracking, and real-time transaction status inquiries. It also allows users to access account summaries, view a consolidated dashboard of all group entities, and includes enhanced security features with OTP verification and 3-Factor Authentication. The app is currently available on Android and will soon be available on iOS.
Debadatta Chand, Managing Director & CEO of Bank of Baroda, said that the app combines a user-friendly interface, advanced tools, and capabilities with seamless execution, enabling customers to stay agile in a competitive business landscape.
The launch of mDigiNext is aimed at streamlining cash management operations and workflows for corporates, providing them with greater control and flexibility in managing their finances. With the app, corporates can now access and manage their accounts and transactions remotely, 24/7, empowering them to make quicker and more informed financial decisions. Overall, the mDigiNext app is designed to provide a convenient, secure, and efficient way for corporate customers to manage their cash management needs with Bank of Baroda.
Senior Citizens’ FD Offer: Take advantage of 9.10% interest rates on Fixed Deposits from these top banks, find out more details here!
Fixed Deposits (FDs) have been a popular investment option in India for many years, particularly among senior citizens. This is because FDs are considered to be a safe and secure way to invest, with a high return on investment. Senior citizens can earn higher interest rates than normal citizens, typically around 0.5% more, making it an attractive option for those looking to generate a steady income post-retirement.
Banks and non-banking financial companies (NBFCs) offer FDs with interest rates ranging from 2.50% to 9.10% for a period of 7 days to 10 years. Many private banks offer interest rates up to 7%, while some NBFCs offer 9% interest on FDs. This makes FDs a lucrative option for those seeking a high return on investment.
Top banks and NBFCs in India offer FD rates as follows:
* Public Sector Banks: Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, State Bank of India, and Union Bank of India offer interest rates ranging from 7.75% to 7.95%.
* Private Sector Banks: Axis Bank, Bandhan Bank, DBS Bank, HDFC Bank, ICICI Bank, and Yes Bank offer interest rates ranging from 7.75% to 8.25%.
* Small Finance Banks: AU Small Finance Bank, Jan Small Finance Bank, North East Small Finance Bank, Unity Small Finance Bank, and Utkarsh Small Finance Bank offer interest rates ranging from 8.40% to 9.10%.
FDs provide several benefits to senior citizens, including the option to withdraw the full or partial amount before maturity, as well as the option to renew the FD once it matures. Additionally, the Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage up to Rs 5 lakh on deposits with participating banks. With a minimum investment requirement as low as Rs 100, FDs are an accessible and secure investment option for senior citizens.
Bank of Baroda launches a milestone Phygital Branch in New Delhi, marking a significant milestone in digital banking in the city.
Bank of Baroda, one of India’s leading public sector banks, has launched its latest phygital branch at Parliament Street in New Delhi. This innovative branch combines physical and digital banking services to provide a seamless customer experience. The Phygal branch features self-service kiosks, a video contact center for non-financial services, and universal service desks for in-person assistance.
The phygital branch aims to cater to diverse customer needs, offering both self-service and assisted service models. Customers can use self-service kiosks with interactive touchscreens to access a range of services, such as PAN updates, account statements, and nominee changes. The video contact center allows customers to connect with the bank’s contact center through video calls for assistance on non-personalized and non-financial services.
The universal service desks provide a one-stop solution for customers requiring in-person assistance with banking needs. The phygital branch is the fifth of its kind in the country, with the goal of redefining the banking experience for customers.
Speaking at the launch, Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “We are pleased to add another phygital branch in New Delhi, taking the milestone forward in redefining the banking experience for our customers. This initiative has started showing better customer experience.” The phygital branch has already started demonstrating improved customer experience, according to the bank. With this innovative model, Bank of Baroda aims to cater to a wide range of customer needs, offering both independent self-service and personalized assistance for those who prefer human interaction.
Banking Jobs Alert! Ministry of Finance Announces Director Positions Available at Government-Owned Institutions – Application Procedure Inside
The Indian Ministry of Finance has acknowledged the existence of vacancies in the boards of public sector banks (PSBs) and is taking steps to fill them. According to Pankaj Chaudhary, the Minister of State in the Ministry of Finance, filling director positions is a regular process. He assured that the government is taking necessary action to fill vacancies as soon as possible.
The ministry provided an update on the number of directors and vacancies on the boards of all PSBs. The details include: Bank of Baroda (16 directors, 6 vacancies), Bank of India (16 directors, 5 vacancies), Bank of Maharashtra (14 directors, 8 vacancies), and so on. It is clear that several public sector banks have vacancies on their boards, including Bank of Maharashtra, where the position of Chairman and all Managing Directors/Chief Executive Officers are currently filled.
The Ministry’s statement comes in response to a query by Revolutionary Socialist Party (RSP) MP N K Premachandran, who had raised concerns about the vacancies in public sector banks. In his queries, Premachandran asked if the government proposed to fill the vacancies, what action it had taken in this regard, and whether it was aware that the Director vacancies in Maharashtra State Bank/Bank of Maharashtra had not been filled.
Premachandran also asked if the government proposed to amalgamate other public sector banks with State Bank of India (SBI). The Ministry clarified that there is no proposal under consideration to amalgamate other public sector banks with SBI. Overall, the Ministry of Finance has assured that it is working to fill the vacancies on the boards of public sector banks and is committed to ensuring the effective governance of these institutions.
Bank of Baroda opens its doors to its newest Regional Office in Anand, marking a significant milestone in its growth and expansion strategy.
The Bank of Baroda has inaugurated its new regional office in Anand, Gujarat. The event was attended by Shri Lal Singh, Executive Director of the bank, along with other senior executives, including Shri Ashwini Kumar, General Manager and Zonal Head, Ahmedabad, Shri Rakesh Chalavariya, Deputy General Manager (Business Development), and Shri Rajkumar Mahavar, Regional Head, Anand.
The new premises are designed to provide better convenience to customers and employees, reinforcing the bank’s commitment to excellence in banking services. The modern, state-of-the-art facilities are equipped with the latest technology and infrastructure, enabling customers to enjoy a seamless and efficient banking experience.
The new office is a reflection of the bank’s growth and expansion in the region, as well as its commitment to providingcustomers with high-quality services and products. The bank is constantly striving to improve and innovate, and its new premises in Anand are a testament to this vision.
As part of its ongoing efforts to enhance customer experience, the Bank of Baroda has implemented various initiatives, such as digital channels, mobile banking, and ATM networks, to make banking more convenient and accessible. The bank has also been at the forefront of Digital India initiatives, leveraging technology to transform the way it operates and deliver services to its customers.
The new regional office in Anand is another step towards the bank’s goal of providing excellent customer service, increasing accessibility, and improving efficiency. The bank’s commitment to excellence is evident in its continuous effort to innovate and invest in new technologies, infrastructure, and processes, ensuring that its customers can enjoy a seamless and secure banking experience.
Overall, the Bank of Baroda’s new regional office in Anand reflects the bank’s growth, innovation, and commitment to excellence in banking services, making it a benchmark for other banks to follow.
All roads lead to ‘E’ as Route claims a dominant win, while BoB and DY ‘A’ register a convincing victory, setting the stage for an exciting finale with WNS Global and Central Bank.
The “A” Division Times Shield, a three-day first-round knockout tournament, has seen several matches played out. Outright wins were recorded by Route Mobile and Bank of Baroda, while WNS Global Services and Central Bank teams qualified for the final of the E Division.
In the “A” Division, Jain Irrigation “A” took on Income-Tax “A” and set a target of 323/4d, which was chased down by Income-Tax “A” who reached 116/2. Route Mobile also won against Tata, setting a target of 178/8d, which was surpassed by Tata, but only to 142.
In the other matches, Mumbai Customs drew with BPCL, while Bank of Baroda defeated Nirlon, setting a target of 267 and overhauling their opponents’ score of 267 and 119. CGST & CEX, Mumbai lost to D Y Patil “A”, who set a target of 261 and 205, which was chased down to 67/1.
In the E Division, Deutsche Bank lost to WNS Global Services, who set a target of 183/5, while Satellite Developers lost to Central Bank, who set a target of 101/2.
The dates and venue for the final of the E Division have yet to be announced. The tournament is being played at various venues.
Compare FD returns: Which bank offers the highest interest rates on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh deposits for a 5-year tenure: State Bank of India, Punjab National Bank, or Bank of Baroda?
The article compares the returns offered by State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) on fixed deposits (FDs) for a five-year tenure. The comparison is based on a lump sum investment of Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh.
The yields on FDs vary depending on the bank and investment amount. For a five-year FD, SBI offers the highest returns, ranging from 5.30% to 6.30% for amounts between Rs 3 lakh to Rs 9 lakh. PNB offers a slightly lower yield, ranging from 5.20% to 6.20%. BoB offers the lowest returns, ranging from 5.10% to 6.10%.
The returns are based on the assumption that the interest is compounded quarterly, and the interest is paid out quarterly. For example, an investment of Rs 3 lakh in SBI’s 5-year FD for a quarter will earn an interest of Rs 4,950, which is approximately 0.65% of the principal amount.
It is essential to remember that the interest rates and returns are subject to change, and you should consult the banks’ official websites or authorized dealers for the most up-to-date information. It is also recommended to consult a financial expert or conduct your own research before making an investment decision. The goal is to provide a general idea of the returns offered by SBI, PNB, and BoB for a five-year FD, enabling readers to make an informed decision.
Take advantage of high-yield savings: Four top banks now offer fixed deposits with interest rates of 9.50% or higher – The Economic Times
According to a recent article in The Economic Times, four banks are currently offering fixed deposit (FD) interest rates above 9%. This is significant, considering that the average FD interest rate in the Indian banking system is around 5.5-6.5%. The higher interest rates on offer from these four banks provide attractive options for individuals looking to save and invest their funds for a fixed period.
Here are the four banks offering FD interest rates above 9%:
Kotak Mahindra Bank: 9.50% p.a. (compounded quarterly) for a 5-year tenure
Kotak Mahindra Bank is offering a highly competitive FD interest rate of 9.50% per annum for a 5-year tenure. This rate is 2.75% higher than the average FD interest rate offered by most banks.DCB Bank: 9.30% p.a. (compounded quarterly) for a 5-year tenure
DCB Bank, a private sector bank, is offering an FD interest rate of 9.30% per annum for a 5-year tenure. This rate is 2.8% higher than the average FD interest rate.IndusInd Bank: 9.25% p.a. (compounded quarterly) for a 5-year tenure
Indusind Bank, another private sector bank, is offering an FD interest rate of 9.25% per annum for a 5-year tenure. This rate is 2.7% higher than the average FD interest rate.- Bank of Baroda: 9.20% p.a. (compounded quarterly) for a 5-year tenure
Bank of Baroda, a public sector bank, is offering an FD interest rate of 9.20% per annum for a 5-year tenure. This rate is 2.65% higher than the average FD interest rate.
These higher interest rates can be beneficial for individuals looking to save and invest their funds for a fixed period. However, it’s essential to note that FD interest rates may vary depending on factors such as the bank’s tier-wise classification, deposit amount, and tenure. It’s recommended to check the interest rates and terms and conditions of each bank before investing in an FD.
Maximize your returns: Compare FD interest rates up to 9% with top banks, including 1-year fixed deposits at MSN.
The article discusses the current fixed deposit (FD) interest rates offered by various banks in India. With the Reserve Bank of India (RBI) increasing the interest rate to 9% to control inflation, banks have also hiked their FD rates to attract depositors. Here are the highest and one-year FD interest rates offered by different banks in India:
Highest FD Interest Rates:
- Axis Bank: 9.10% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- HDFC Bank: 9.05% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- ICICI Bank: 9.00% (for a deposit of ₹2.5 lakh to ₹5 lakh)
- SBI: 8.90% (for a deposit of ₹1 lakh to ₹1 crore)
- Kotak Mahindra Bank: 9.00% (for a deposit of ₹2 lakh to ₹5 lakh)
One-Year FD Interest Rates:
- Axis Bank: 7.50%
- HDFC Bank: 7.40%
- ICICI Bank: 7.30%
- SBI: 7.20%
- Kotak Mahindra Bank: 7.20%
Other Top Banks’ FD Rates:
- Bank of Baroda: 8.60% (for a deposit of ₹1 lakh to ₹5 crore)
- Yes Bank: 8.40% (for a deposit of ₹1 lakh to ₹5 crore)
- IndusInd Bank: 8.30% (for a deposit of ₹1 lakh to ₹5 crore)
- Punjab National Bank: 8.20% (for a deposit of ₹1 lakh to ₹5 crore)
Things to Keep in Mind:
- The interest rates mentioned are subject to change and may vary based on the deposit amount, tenure, and other factors.
- It’s essential to compare the different FD rates offered by various banks before investing.
- It’s also important to consider other factors such as the bank’s reputation, branch network, and customer service while choosing an FD.
- FDs can be a low-risk investment option, but it’s crucial to assess your financial goals and risk tolerance before investing.
In conclusion, with the RBI increasing the interest rate to 9%, banks have also hiked their FD rates to attract depositors. The interest rates mentioned above are effective as of the date of the article and may change over time. It’s essential for investors to stay informed about the current FD rates and rates offered by different banks before making an investment decision.