RBI’s draft norms on project financing to hit credit cost by 7-8 bps: Bank of Baroda
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Bank of Baroda MD & CEO Debadatta Chand, in an exclusive interview with CNBC TV18, also indicated a robust performance in both retail and corporate segments.
Debadatta Chand, MD & CEO of Bank of Baroda, on Tuesday (May 14) shed light on the impact of the Reserve Bank of India’s (RBI) proposed draft guidelines on financing.
Chand stated that while the draft regulations are in the consultation phase, the bank is anticipating a maximum impact of 7-8 basis points on credit costs.
The RBI’s proposal aims to enforce stricter rules governing lending to projects under implementation. This will necessitate lenders to allocate 5% of the total loan amount as general provisions.
Chand also discussed the status of IndiaFirst IPO, highlighting that its execution hinges on market conditions and valuation attractiveness. He noted that the current market conditions in the insurance sector haven’t aligned with favourable valuations.
Regarding asset quality, Chand expressed optimism, noting a downward trend in both gross non-performing assets (NPAs) and net NPAs over several quarters. Despite a slight increase in provisions due to a particular account, Chand highlighted improvements in slippage ratios compared to the previous year.
Chand also shared insights on the bank’s loan growth trajectory, indicating a robust performance in both retail and corporate segments. With a projected loan growth of 12-14% for the full year, Bank of Baroda aims to sustain its strong momentum in lending activities.
Last week, Bank of Baroda reported a 2.3% rise in net profit for the fourth quarter of FY24.
The bank’s performance surpassed the estimates of analysts, with net profit standing at ₹4,886.5 crore versus the CNBC-TV18 poll projection of ₹4,576.2 crore.
Key highlights of Bank of Baroda’s Q4 FY24 earnings include a loan growth of 13% year-on-year and 4% quarter-on-quarter.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
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View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda’s Q4 net profit beats estimates; 370% dividend announced
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Key highlights of Bank of Baroda’s Q4FY24 earnings include a loan growth of 13% year-on-year and 4% quarter-on-quarter.
Bank of Baroda on Friday (May 10) reported a 2.3% rise in net profit for the fourth quarter of FY24. The bank’s performance surpassed the estimates of analysts, with net profit standing at ₹4,886.5 crore as opposed to the CNBC-TV18 poll projection of ₹4,576.2 crore.
Key highlights of Bank of Baroda’s Q4FY24 earnings include a loan growth of 13% year-on-year and 4% quarter-on-quarter.
Additionally, the Net Interest Margin (NIM) witnessed an improvement, reaching 3.27% compared to 3.10% in the previous quarter.
In terms of asset quality, the Bank of Baroda reported a reduction in its Gross Non-Performing Assets (NPA) ratio to 2.92% from 3.08% in the previous quarter.
The net NPA ratio stood at 0.68% in Q4FY24 compared to 0.89% in Q4FY23, while the Provision Coverage Ratio reached 93.30%.
However, slippages in the quarter increased to ₹3,200 crore from ₹2,618 crore QoQ. The slippage ratio in Q4 rose to 1.12% from 0.95% in Q3.
The lender’s net interest income for the quarter stood at ₹11,793 crore from ₹11,525 crore from last year. The bank saw a compression in its net interest margin which fell to 3.18% from 3.31% last year.
Total domestic deposits for the bank amounted to ₹11.28 lakh crore, reflecting a 7.7% annual growth from ₹10.47 lakh crore.
Domestic advances also witnessed a healthy increase of 12.9%, reaching ₹8.98 lakh crore in Q4FY24 from ₹7.95 lakh crore in Q4FY23.
Bank of Baroda also announced a dividend of ₹7.60 per equity share for the financial year 2023-24.
Through an exchange filing, the lender said that the board had recommended a dividend payout of 370% on each stock. The current face value of each share of Bank of Baroda is ₹2.
Accordingly, the 370% dividend translates into a payout of ₹7.60.
It has fixed June 29, 2024, to July 5, 2024, as book closure dates for its 28 AGM and dividend payment.
Shareholders having shares on the cut-off date of June 28 will be eligible for the payout.
In a noteworthy development, the bank reversed ₹31.32 crore in the March quarter of FY24 from the total ₹50.49 crore made on investments in alternative investment funds (AIF).
This reversal followed a clarification by the Reserve Bank of India (RBI) regarding AIF provisions guidelines.
Meanwhile, Bank of Baroda’s share price declined over 3% following the announcement of the Q4 results.
It settled 2.67% lower at ₹255.65 apiece on BSE.
ALSO READ | Bank of Baroda free to onboard customers via BoB World app as RBI lifts ban
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
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View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda free to onboard customers via BoB World app as RBI lifts ban
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The regulator had asked the BoB on October 10 to suspend any onboarding of customers onto its BoB World mobile application following concerns over service disruptions and the unauthorised linking of mobile numbers to bank accounts of customers to show higher registrations on its mobile banking application.
The Reserve Bank of India (RBI) has allowed the Bank of Baroda (BoB) to onboard customers on its mobile app, BoB World, after remedial measures taken by the bank.
“The RBI, vide its letter dated 8th May 2024, conveyed to the Bank its decision to lift the above mentioned restrictions on BoB World with immediate effect, as such as the bank is free to onboard customers through BoB World application in accordance with the applicable guidelines and extant laws/regulations,” the lender informed in an exchange filing.
The regulator had asked the BoB on October 10 to suspend any onboarding of customers onto its BoB World mobile application following concerns over service disruptions and the unauthorised linking of mobile numbers to bank accounts of customers to show higher registrations on its mobile banking application.
#JustIn | Bank of Baroda : RBI lifts restriction on bank’s Bob World with immediate effect. The bank is now free to onboard costumers through Bob World application
Here’s more👇 pic.twitter.com/MBJesHXdEQ
— CNBC-TV18 (@CNBCTV18Live) May 8, 2024
A CNBC-TV18 report in mid-October last year revealed that the state-owned lender suspended several employees after an internal audit for alleged tampering of customer accounts to boost registrations.
The RBI lifting the ban on the lender to onboard customers via the BoB World app could turn out to be a huge boost for the public sector bank stock. A Macquarie report last year showed that the app accounts for 43% of time deposits and three-fourths of all BoB retail loans.
Bank of Baroda shares were trading 2.04% higher at ₹267.8 apiece at 10 am on Thursday, May 9.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
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View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Finance Ministry takes steps to crack down on financial fraud
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The Ministry of Finance has ordered banks and financial institutions to strictly enforce the know your customer (KYC) process when onboarding new businesses, as part of a campaign to combat cybercrime.
The Ministry of Finance recently banned Bank of Baroda’s World app after a series of incidents, including a scam. This is one of the steps the government has taken as part of a campaign to combat cybercrime.
The government has convened a meeting to discuss these issues, following the recent actions by RBI, The Times of India reported.
The Ministry of Finance has ordered banks and financial institutions to strictly enforce the know your customer (KYC) process when onboarding new businesses, as per the report. This applies particularly to business correspondents as they are more vulnerable to security breaches.
The ministry’s proposal emphasised on better data security and data protection measures at the level of businesses and business correspondents. Further, the report suggested that the RBI may instruct banks to review business correspondents in sectors with more incidents of cyber fraud.
Back in October 2023, the Reserve Bank of India (RBI) had referred to material supervisory concerns and prevented Bank of Baroda from enrolling new customers on its mobile app BoB World.
“The Reserve Bank of India has, in exercise of its power, under Section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the ‘bob World’ mobile application,” RBI had said.
“Any further onboarding of customers of the bank on the ‘BoB World’ application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI,” it had added.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda raises lending rates by 5 bps across tenures
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Bank of Baroda’s revised marginal cost of funds based lending rates (MCLR) will come into effect from Friday, April 12. Shares of Bank of Baroda closed up 1,96% at ₹270.55 apiece on Wednesday, April 10.
Public sector lender Bank of Baroda (BoB) said on Wednesday, April 10 it is raising its marginal cost of funds based lending rates (MCLR) by 5 basis points (bps), or 0.05%, across all tenures, except the one-month duration loans. The maximum lending rate is now 8.85%, the company stated.
The overnight lending rates have been increased from 8.05% to 8.10%. The lender has also hiked lending rates by 5 bps for three-month, six-month and one-year tenures. The rate for three-month tenure has been hiked to 8.45% from 8.40%; for six-month tenure to 8.65% from 8.60%; and for one-year tenure to 8.85% from 8.80%. The MCLR remains unchanged at 8.30% for a one-month tenure.
The revised rates will come into effect on Friday, April 12, the company said in a regulatory filing. Earlier, the lending rates of the public lender were hiked in January.
In a quarterly update released by the lender earlier this month, Bank of Baroda’s global business saw an increase to ₹24.16 lakh crore, compared to ₹22.94 lakh crore in the previous quarter and ₹21.73 lakh crore year-on-year (YoY).
The bank’s global deposits surged to ₹13.27 lakh crore, up from ₹12.45 lakh crore in the previous quarter and ₹12.03 lakh crore YoY. Similarly, domestic deposits also showed a significant uptick to ₹11.29 lakh crore.
Shares of Bank of Baroda closed up 1,96% at ₹270.55 apiece on Wednesday, April 10.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda Q4 Update | Global deposits surge to ₹13.27 lakh crore in Q4
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
Shares of Bank of Baroda Ltd ended at ₹268.70, down by ₹0.65, or 0.24% on the BSE.
State-owned Bank of Baroda (BoB) on Friday (April 5) announced its quarterly update for Q4, showcasing notable growth in its global business and advances.
According to the update, Bank of Baroda’s global business saw a substantial increase to ₹24.16 lakh crore, compared to ₹22.94 lakh crore in the previous quarter and ₹21.73 lakh crore year-on-year (YoY).
The bank’s global deposits surged to ₹13.27 lakh crore, up from ₹12.45 lakh crore in the previous quarter and ₹12.03 lakh crore year-on-year. Similarly, domestic deposits also showed a significant uptick to ₹11.29 lakh crore.
Also Read: Union Bank Q4 Business Update: Total global business grows over 10% annually
Bank of Baroda’s global advances witnessed a commendable growth trajectory, reaching ₹10.90 lakh crore, compared to ₹10.49 lakh crore in the previous quarter and ₹9.70 lakh crore year-on-year.
Domestic advances followed suit, rising to ₹8.97 lakh crore, from ₹8.62 lakh crore in the previous quarter and ₹7.96 lakh crore year-on-year. Of particular note is the bank’s performance in domestic retail advances, which reached ₹2.14 lakh crore, up from ₹2.03 lakh crore in the previous quarter and ₹1.78 lakh crore year-on-year.
Shares of Bank of Baroda Ltd ended at ₹268.70, down by ₹0.65, or 0.24% on the BSE.
Also Read: Utkarsh Small Finance Bank delivers strong Q4 with 31% jump in loan portfolio
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda launches green deposits with up to 7.15% interest rate
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The General Public/Resident Indians, NRIs and High Net worth Individual (HNI) investors are all eligible to invest in the bob Earth Green Term Deposit scheme.
Tenors | Amount
₹5,000 to below ₹2 crore |
|
bob Earth Green Deposits
(% p.a.) |
||
1 year i.e.
12 months |
6.75 | |
1.5 years i.e.
18 Months |
6.75 | |
777 days | 7.15 | |
1111 days | 6.40 | |
1717 days | 6.40 | |
2201 days | 6.40 |
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
Bank of Baroda offers LITE Savings Account with lifetime zero balance feature
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
This account offers a lifetime free RuPay Platinum Debit Card for customers who maintain a nominal Quarterly Average Balance (QAB).
Bank of Baroda offers bob LITE Savings Account – a Lifetime Zero Balance Savings Bank Account. This account offers a lifetime free RuPay Platinum Debit Card for customers who maintain a nominal Quarterly Average Balance (QAB).
The QAB requirements vary, with ₹3,000 for metro/urban branches, ₹2,000 for semi-urban branches, and ₹1,000 for rural branches.
This debit card comes with offers and discounts on consumer brands, enhancing the account holder’s overall banking experience, Bank of Baroda said.
The account is open to all resident individuals, including minors aged 10 years and above who can read and write.
How to open bob Lite Savings account?
- Click on https://bit.ly/bobLITE for digital account opening through Video KYC
or - Visit the nearest Bank of Baroda branch
Key features of the bob LITE Savings Account include:
- Lifetime zero balance requirement.
- Accessibility for resident individuals, including minors above 10 years of age.
- Lifetime Free RuPay Platinum Debit Card with features based on the QAB.
- Lifetime Free Credit Card, subject to eligibility.
- Discounts and offers on Bank of Baroda Debit & Credit Cards.
- 30 free cheque leaves in a financial year.
The introduction of the bob LITE Savings Account aligns with Bank of Baroda’s commitment to providing inclusive and convenient banking solutions for customers from various demographics. This initiative aims to simplify banking, making it more accessible and rewarding for individuals and families across urban and rural landscapes.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously
Should Elon Musk be able to buy Twitter?
CITI recommends ‘buy’ for Bank of Baroda but ‘sell’ for SBI and PNB — here’s why
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Summary
The brokerage suggests that while the overall growth in PSU banks has revived, it lags behind the industry average.
Brokerage firm CITI, while offering insights and recommendations on public sector undertaking (PSU) banks, has given a ‘buy’ rating to Bank of Baroda (BoB) with a target price (TP) of ₹290. But it rated State Bank of India (SBI) and Punjab National Bank (PNB) with a ‘Sell’ recommendation with target price of ₹600 and ₹83 respectively.
The brokerage suggests that while the overall growth in PSU banks has revived, they still lag behind the industry average.
In the PSU segment, Â Loan-to-Deposit Ratios (LDRs) have expanded by 8-12 percentage points to reach 73-80%.
The Gross Non-Performing Assets (GNPAs) and slippages have shown significant improvement, more than halving.
Credit cost has been reported at less than 2%, indicating a positive trend in asset quality.
Despite the improvements, the Net Interest Margins (NIMs) remain modest.
However, there is a noteworthy achievement in the Return on Assets (RoA) trajectory, breaching the 1% mark for most PSU banks, except for Punjab National Bank (PNB) and Bank of India (BOI), Â Citi said.
The report highlights that the yield improvement has outpaced the rise in deposit costs, contributing to the positive performance of the PSU banks covered in the analysis.
This comes at a time when equity shares of PSU banks have seen a sharp outperformance, with the Nifty PSU Bank Index alone has delivered around 162% returns since March 2022.
According to Motilal Oswal Securities, with robust balance sheet liquidity, PSU banks are well-positioned for healthy growth and resilient margins.
Capital raised from the market positions them for potential gains in corporate demand post general elections, supporting sustained performance and sector re-rating in a conducive macro-environment, said another brokerage — Motilal Oswal.
At the time of writing this report, Bank of Baroda shares were trading marginally lower at ₹260.75 apiece on the BSE.
On the other hand, SBI and PNB shares were trading marginally lower at ₹741.75 and ₹120 on the BSE respectively.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow
LIVE TV
Shows
View AllMost Reads
View Alltoday's market
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -72.15 |
sensex | ₹1,882.60 | +28.30 |
nifty IT | ₹2,206.80 | +30.85 |
nifty bank | ₹1,318.95 | -14.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
index | Price | Change |
---|---|---|
nifty 50 | ₹16,986.00 | -7.15 |
sensex | ₹1,882.60 | +8.30 |
nifty IT | ₹2,206.80 | +3.85 |
nifty bank | ₹1,318.95 | -1.95 |
Currency
Company | Price | Chng | %Chng |
---|---|---|---|
Dollar-Rupee | 73.3500 | 0.0000 | 0.00 |
Euro-Rupee | 89.0980 | 0.0100 | 0.01 |
Pound-Rupee | 103.6360 | -0.0750 | -0.07 |
Rupee-100 Yen | 0.6734 | -0.0003 | -0.05 |
Question 1 of 5
What coins do you think will be valuable over next 3 years?
Answer Anonymously