{"id":71263,"date":"2023-10-11T03:36:08","date_gmt":"2023-10-11T07:36:08","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/bank-of-baroda-shares-face-turbulence-amid-rbi-intervention\/"},"modified":"2023-10-11T03:36:11","modified_gmt":"2023-10-11T07:36:11","slug":"bank-of-baroda-shares-face-turbulence-amid-rbi-intervention","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71263","title":{"rendered":"Bank of Baroda shares face turbulence amid RBI intervention"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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The Reserve Bank of India (RBI) ordered a halt on new customer sign-ups via the Bank of Baroda’s BoB World app on Wednesday, causing the bank’s shares to shed by 4%. The regulatory intervention is due to issues with the app, which has led to the bank taking corrective actions to ensure minimum disruption for current customers.<\/p>\n

The bank’s board is also considering raising Rs 10,000 crore through long-term bonds for infrastructure and affordable housing projects. This comes as investors are closely monitoring the stock amidst these changes. <\/p>\n

In addition to the regulatory challenges, the Central Government appointed Lal Singh as Executive Director of Bank of Baroda on Monday, October 9, 2023. This leadership change is another factor influencing investor sentiment around the bank’s stock. <\/p>\n

Despite these developments, Citigroup <\/span><\/span> (NYSE:) maintains a ‘buy’ call for the bank’s shares at Rs 245\/share. This is in contrast to HSBC’s recent downgrade of the stock to ‘hold’ at Rs 220\/share. Motilal Oswal Securities has set a target price of Rs 240\/share, noting that while digital sourcing for personal loans has been affected by the RBI’s order, it only represents 2% of the bank’s total advances.<\/p>\n

In terms of performance, Bank of Baroda’s six-month return stands at 25.2%, outperforming the Nifty Bank index’s 11.10%. These figures highlight the bank’s resilience in a challenging market environment. <\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The Reserve Bank of India (RBI) ordered a halt on new customer sign-ups via the Bank of Baroda’s BoB World app on Wednesday, causing the bank’s shares to shed by 4%. The regulatory intervention is due to issues with the app, which has led to the bank taking corrective actions to ensure minimum […]<\/p>\n","protected":false},"author":1,"featured_media":2426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-71263","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBank of Baroda shares face turbulence amid RBI intervention | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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