‘Bob World’ Mobile Application: The bank said that now it will start adding new customers on the Bob World app again. Along with this, it said that it is committed to ensuring compliance and adherence to regulatory guidelines.
‘Bob World’ Mobile Application: The Reserve Bank of India (RBI) on Wednesday allowed Bank of Baroda to add new customers through the ‘Bob World’ application after about seven months. RBI had stopped the public sector bank from adding new customers through its mobile app ‘Bob World’ on October 10, 2023. The move was taken following oversight concerns.
Bank of Baroda said in a communication sent to the stock exchange, ‘We wish to inform that the RBI vide its letter dated May 8, 2024 has informed the Bank of its decision to remove the above mentioned restrictions on Bob World with immediate effect. Is. The Bank is now free to engage customers through this app in accordance with the applicable guidelines and existing laws or regulations.
The bank said that now it will start adding new customers on the Bob World app again. Along with this, it said that it is committed to ensuring compliance and adherence to regulatory guidelines.
Last week, RBI had also removed the ban on Bajaj Finance from giving loans through Ecom and Insta EMI cards. Earlier, the Reserve Bank had banned private sector Kotak Mahindra Bank from adding new customers through online and mobile banking and issuing new credit cards.
