The Reserve Bank of India (RBI) has decided to lift restrictions on Bank of Baroda‘s Bob World app with immediate effect, 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 is dedicated to ensuring compliance with regulatory guidelines, ET reported BoB as saying.
Earlier, the RBI directed the Bank of Baroda to suspend any onboarding of customers onto its “Bob World’ mobile application, based on certain supervisory concerns.
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 is dedicated to ensuring compliance with regulatory guidelines, ET reported BoB as saying.
Earlier, the RBI directed the Bank of Baroda to suspend any onboarding of customers onto its “Bob World’ mobile application, based on certain supervisory concerns.