Indian Army signs MoU with Bank of Baroda for new ‘Baroda Military Salary Package’
NEW DELHI: Indian Army and Bank of Baroda have entered into a Memorandum of Understanding (MoU) for ‘Baroda Military Salary Package’. The MoU was signed by Lt Gen Ravin Khosla, DG(MP&PS) and Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired […]
Delhi High Court orders Bank of Baroda led consortium to halt declaring Reliance Home Finance as fraud account
NEW DELHI: Reliance Capital on Monday said that the high court has ordered lenders under a consortium led Bank of Baroda to keep in abeyance their action to declare its two group firms as fraud accounts. According to regulatory filings by Reliance Capital and its subsidiary Reliance Home Finance Ltd (RHFL), the companies had moved […]
Bank of Baroda puts Bhushan Power & Steel, 66 other accounts on block
NEW DELHI: As resolution through the insolvency courts keep getting delayed inordinately, the state-run Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts – Bhushan Power & Steel and Alok Industries which are undergoing insolvency process but delayed. While Bhushan Power & Steel dues are to […]
Bank of Baroda narrows Q4 loss to Rs 991 crore, NPA provisions at Rs 5,550 crore
NEW DELHI: State-owned Bank of Baroda on Wednesday reported narrowing of its net loss to Rs 991 crore in the March 2019 quarter. The bank had posted a net loss of Rs 3,102.34 crore in the similar January-March period of fiscal 2017-18. However, compared sequentially, there was a net profit of Rs 471.25 crore during […]
Bank of Baroda to shut three overseas branches by June
NEW DELHI: State-owned Bank of Baroda will close down three overseas branches by June. The bank in a regulatory filing said that as per the government guidelines for rationalisation of overseas presence, increase in efficiency and profitability of the overseas offices, it will close down branches in Guyana, Trinidad and Tobago and Ghana by June […]
Bank of Baroda, Vijaya Bank approve merger proposal to create second largest PSU lender
NEW DELHI: The boards of state-run Bank of Baroda (BoB) and Vijaya Bank on Saturday gave in-principle approvals for their amalgamation with another lender Dena Bank, a move that would create the second-largest entity in the PSU banking space. Earlier this month, the government announced the merger of Bank of Baroda, Vijaya Bank and Dena […]
Vijaya Bank board approves merger proposal with Bank of Baroda, Dena Bank
NEW DELHI: The board of state-run Vijaya Bank on Saturday gave in-principle approval for its merger with Bank of Baroda along with another PSU lender Dena Bank. Earlier this month, the government announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank to create the country’s second-largest public sector bank by assets and […]
Vijaya Bank, Bank of Baroda, and Dena Bank to merge
NEW DELHI: The government of India will merge state-owned Vijaya Bank, Dena Bank and Bank of Baroda to create India’s third largest lender, a top government official said on Monday. Boards of the three banks will examine amalgamation proposal, the department of financial services secretary, Rajeev Kumar, told a news conference here. He said the […]