- Banking
- 1 min read
RBI lifts restrictions on Bank of Baroda's 'BoB World' mobile app, allows onboarding customers
The Reserve Bank of India (RBI) has lifted restrictions on Bank of Baroda's BoB World app, allowing the bank to onboard customers through the application immediately.The Reserve Bank of India (RBI) has decided to lift restrictions on Bank of Baroda's BoB World app with immediate effect, allowing it to onboard customers, the bank said in the exchange filing.
The bank said, "We wish to inform that the RBI conveyed to the Bank its decision to lift the restrictions on BoB World with immediate effect, as such the bank is free to onboard customers through BoB World application in accordance with the applicable guidelines and extant laws /regulations."
"The Bank will now resume onboarding new customers in the BoB World application. The Bank remains committed to ensure adherence and compliance of regulatory guidelines," the filing said.
Later in response to directives from the RBI, Bank of Baroda affirmed that it had implemented corrective actions to rectify the issues raised by the RBI.
COMMENTS
All Comments
By commenting, you agree to the Prohibited Content Policy
PostBy commenting, you agree to the Prohibited Content Policy
PostFind this Comment Offensive?
Choose your reason below and click on the submit button. This will alert our moderators to take actions