RBI likely to cut repo rate by 25 bps in Governor Sanjay Malhotra’s first policy move
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is set to announce its first monetary policy under new Governor Sanjay Malhotra on Friday.
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is set to announce its first monetary policy under new Governor Sanjay Malhotra on Friday.
The Union Budget for 2025-26 has maintained fiscal prudence without compromising on the quality of expenditure and the government’s borrowing program has been stable, which is positive for markets, according to an analysis by Bank of Baroda economists.
Bank of Baroda has opened a new branch in Shakuntala Park on the auspicious occasion of Bank’s 117th Foundation Day, reaffirming its commitment to customer service and accessibility.
Bank of Baroda said on Wednesday that the RBI has lifted its ban on BoB World and the bank has now been allowed to onboard customers through the app.
The central bank said in its notification that the action is based on certain material supervisory concerns observed in the “manner of onboarding” of their customers onto this mobile application.
The cut is expected to impact all categories of loans offered by the bank.
Customer needs to save bank’s WhatsApp Business Account Number 8433 888 777 in his/her Mobile Contact list
The MoU was signed by Lt Gen Ravin Khosla, DG(MP&PS) and Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in the presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting.
The one-year tenor has been reduced to 7.45 per cent from 7.5 per cent.
On basic savings bank deposit (BSBD) accounts, including Jan Dhan accounts, the government informed that no service charge is applicable on the 60.04 crore BSBD accounts, including 41.13 crore Jan Dhan accounts opened by the poor and unbanked segments of society, for the free services prescribed by the Reserve Bank of India.
