THE RESERVE BANK of India's (RBI) action on Wednesday barring public sector major Bank of Baroda (BoB) from on boarding new customers on its flagship 'BoB World' mobile application may hurt the bank's medium-term growth plans, both in terms of retail assets and liabilities, analysts said.
Shares of BoB on Wednesday closed down 3.3% at ₹207.20 on the BSE.
With a strong active user base of nearly 30 million and 53 million downloads as of March end, BoB's mobile application has emerged as a key platform for carrying out banking transactions for its customers.
About 98% of BoB's savings account and 91% of current accounts acquisitions are being currently done through digital channels which include bank's website and BoB World. More importantly, 43% of fixed deposits (FD) and recurring deposits (RDs) are also opened through BoB World.
Bu hikaye Financial Express Mumbai dergisinin October 12, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin October 12, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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