Bank of Baroda (BoB) has received big relief from the central bank RBI today. The Reserve Bank of India (RBI) has waived off the penalty of Rs 5 crore on Bank of Baroda. The bank has given this information in its exchange filing today. The bank said in its statement that on January 10, 2024, RBI sent it a letter informing it about waiving this penalty.
Bank of Baroda ( BoB ) has received big relief from the central bank RBI today. Reserve Bank of India ( RBI ) has waived the penalty of Rs 5 crore on Bank of Baroda. The bank has given this information in its exchange filing today. The bank said in its statement that on January 10, 2024, RBI sent it a letter informing it about the waiver of this penalty. This penalty was imposed on the bank last year on December 22, 2023. RBI had imposed a fine on Bank of Baroda for poor management of mutilated notes.
Shares of Bank of Baroda closed today at Rs 226.05 on BSE with a gain of 1.01 per cent. Talking about the movement of shares in the last one year, last year on February 2, 2023, it was at a one-year low of Rs 146.50. From this level, it jumped by about 64 percent in 11 months and reached Rs 240.00 on January 4, 2024, which is a record high level for its shares. However, this rise in shares stopped here and at present it is more than 5 percent downside from this high level.
