
Recently, RBI had taken major action against Bank of Baroda, in which it had banned adding new customers on BOB World App. Due to this, Baroda Bank has now suspended 60 employees.
During investigation, it was found that these banks were not following the rules made by RBI in BOB World App. Let us tell you that last day it was told by RBI that BOB World App is ignoring some rules. Therefore new customers will not be added on this app for now.
Now due to this case, some senior officials of the bank have been punished, that includes 6 to 7 zonal officers. There are reports that many more big actions can be seen from the bank in the coming times.
As soon as RBI banned BOB World App, the condition of the bank was not good in the stock market from the next day. The stock has gone down below 2 percent in the last 5 days. Also, the expert opinion for the times to come is still negative. This means clearly that 1 month is not good for the bank right now. Apart from shares, the customer is also not associating with Baroda Bank. Talking about the figures of 1 week, the number of new customer additions has decreased by 6.3 percent.
Besides this, RBI has put many conditions before the bank. RBI has said that first the bank should verify the mobile numbers of all their customers, after that whatever deficiencies are there in the rules should be strengthened. After everything is fine, the bank’s BOB World App will be again come to normal.