Shares of Bank of Baroda experienced a significant dip of over 3 percent during early trade on October 11, following the Reserve Bank of India’s directive to halt new customer sign-ups via its mobile application, BoB World. As of 10:40 am, Bank of Baroda (BoB) stock was trading 3.15 percent lower at Rs 207.55 on NSE.
Investor attention is now focused on the outcome of the upcoming board meeting, where discussions about a substantial fundraising endeavor are expected. Reports suggest that the PSU bank might opt for raising up to Rs 10,000 crore in long-term infrastructure bonds.
Just the previous day, on October 10, Bank of Baroda’s stock closed at Rs 213.90, showing a slight increase of 1.02 percent. The RBI’s directive to the state lender to halt new customer registrations through BoB World, the bank’s digital banking application, has spurred concerns among investors, leading to the decline in the bank’s stock value.
