Demo Man Hasmukh Adhia appointed Bank of Baroda chairman

Former Finance Secretary Dr. Hasmukh Adhia, credited with the effective implementation of demonetization two years ago, was on Friday appointed as the Non-Executive chairman of the Bank of Baroda for a period of three years. “The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment […]

Bank of Baroda buys out Pioneer Investments from AMC unit

Bank of Baroda said it will buy out its foreign partner Pioneer Investments in its asset management subsidiary to raise its stake in the unit to 100%. It will acquire 51% of Baroda Pioneer Asset Management Company for an undisclosed amount. This is being done due to the acquisition of Pioneer Investments by Amundi, which […]

SBI’s new minimum balance rule leaves OBC, UCO and PSB as only ‘free’ banks in India

With the country’s largest bank, State Bank of India, refusing to rollback service charges for customers who do not maintain a minimum balance in their accounts, only Oriental Bank of Commerce, UCO Bank and Punjab & Sind Bank remain as ‘free’ providers of savings bank services, according to an analysis of RBI data. SBI said […]

PNB, Corp Bank most aggressive in going after big debtors; SBI, BoB more relaxed

Punjab National Bank, the third largest public sector bank in India, and smaller cousin Corporation Bank can teach bigger siblings like State Bank of India and Bank of Baroda a thing or two about going after big loan defaulters, an analysis of Reserve Bank of India data shows. In the last four years, these two banks […]

Bank of Baroda to raise up to Rs 1,000 cr via bond private placement

Bank of Baroda said its board of directors had approved the raising of up to Rs 1,000 cr by selling perpetual bonds. The bonds would be sold via private placement, i.e. without a public auction or book building. The timing and other details will be determined by market conditions, the Gujarat-based bank said. Bank of […]