Bank Of Baroda Formed Inquiry Authority In All Zone

Bank of Baroda: Bank of Baroda has constituted Inquiry Committee in all the zones. For this the bank has appointed retired bankers. The disciplinary committee of the bank will send them for investigation in various cases. In recent times, many banks have constituted similar inquiry committees. According to the bank, this investigation committee will help in internal operations and corporate governance.

Exclusive | Bank of Baroda will empanel retired bankers as 'Inquiry Authority' at various zones, sources say@ankurmishrasays pic.twitter.com/WzDqYgSGC3

— ET NOW (@ETNOWlive) January 1, 2024

Ban on adding new customers on Bob World app

Reserve Bank of India (RBI) Recently, Bank of Baroda was banned from adding new customers on its app (BOB World App). Many irregularities were revealed in this app of the bank. The bank had to suspend about 60 of its employees in many cities like Bhopal, Baroda and Jaipur.

What happened in 'Bob World App'

According to an ET Now report, in July 2023, it was revealed that Bank of Baroda had tampered with the data of the bank's customers to increase the subscriber base on its app 'Bob World'. The bank allegedly linked customers' account details with other contact numbers to show more registrations on the mobile app. Many of these contact numbers were unregistered and did not belong to the customer whose account details were linked to it. After this, RBI had banned Bank of Baroda from adding new customers.

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