If you also have an account in Bank of Baroda, then this can prove to be very important news for you. Let us tell you that recently the Reserve Bank of India (RBI) has banned Bank of Baroda from adding new customers and this ban has been imposed on adding new customers on BOB World App.
Let us tell you that now no new customer can join through this app of BoB. But those who are old customers of Bank of Baroda (BOB) will not have to face any such problem. However, Reserve Bank of India has ensured that old customers of BOB do not face any such problem.
These customers will be directly affected
For your information, let us tell you that this decision of the Reserve Bank of India (RBI) will affect those customers of Bank of Baroda who have an account in the bank, but have not yet created an account on BoB World. Apart from internet banking, the bank was providing the facility of utility related payments, tickets and IPO subscription to its customers through this app.
RBI said
RBI has given a statement that, ‘The Reserve Bank of India, in exercise of its powers under Section 35A of the Banking Regulation Act 1949, has directed Bank of Baroda to suspend the process of adding customers on the ‘bob World’ mobile app with immediate effect. Have ordered.
Apart from this, RBI has said in its statement that any process of adding customers to the ‘bob World’ app will take place only after removing the deficiencies found by the bank and strengthening the related processes and to the satisfaction of RBI. Apart from this, while taking action on ‘bob World’ app, RBI said that this decision has been taken only after the shortcomings seen in the way of including customers on the application.
