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RBI orders Bank of Baroda to suspend further customer onboarding on ‘bob World’ mobile app

Action against Bank of Baroda under section 35A of the Banking Regulation Act, 1949

The Reserve Bank of India has, in exercise of its power, under section 35A of the Banking Regulation Act, 1949, directed Bank of Baroda to suspend, with immediate effect, any further onboarding of their customers onto the 'bob World' mobile application. This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application. Any further onboarding of customers of the bank on the 'bob World' application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI. The bank has been further directed to ensure that already onboarded 'bob World' customers do not face any disruption on account of this suspension.
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knight

TF Ace
From previous incidents and considering the severity of the issue, the app won't see the light of the day in 2024, probably in 2025 as well.
Itna lamba ban bhi nahi hoga.. it might get lifted in 2024.

a lot of genuine new customers are not able to utilize BOB banking facilities properly. RBI might consider and ask to onboard with stricter compliance.
 

pothi

TF Premier
RML Group
Itna lamba ban bhi nahi hoga.. it might get lifted in 2024.

a lot of genuine new customers are not able to utilize BOB banking facilities properly. RBI might consider and ask to onboard with stricter compliance.

HDFC was banned for 8 months for lack of capacity when scaling can be done in a matter of hours or in a couple of weeks. What takes time is the regulatory approvals that has various stages after a ban. If HDFC weren't banned, the same capacity expansion could have been done much faster by HDFC. There are two different rules... before a ban, after a ban.
 

shinchan

TF Premier
I don't think they are gonna unban it anytime soon
Atleast u are getting net banking mujhe to abhi Tak net banking bhi support nahi mili
Mujhe bhi account opening ke 15 din baad Mila tha, kyuki unhone email hi add nhi kiya tha during account opening, contact branch kar denge woh log, thode kaamchore hote hai lekin kar dete h (net banking portal sucks tbh) which banks have great net banking experience?? 😕 as of now I've experienced idfc first(nice), kotak(ok ok), BOB(benstrokes)
 

doraemon

TF Ace
Mujhe bhi account opening ke 15 din baad Mila tha, kyuki unhone email hi add nhi kiya tha during account opening, contact branch kar denge woh log, thode kaamchore hote hai lekin kar dete h (net banking portal sucks tbh) which banks have great net banking experience?? 😕 as of now I've experienced idfc first(nice), kotak(ok ok), BOB(benstrokes)
I have used canara bank net banking they are best
 

coolanshu1000

TF Premier
Mujhe bhi account opening ke 15 din baad Mila tha, kyuki unhone email hi add nhi kiya tha during account opening, contact branch kar denge woh log, thode kaamchore hote hai lekin kar dete h (net banking portal sucks tbh) which banks have great net banking experience?? 😕 as of now I've experienced idfc first(nice), kotak(ok ok), BOB(benstrokes)
Canara bank net banking as well as their ai1 app.. truly best in town.
 
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