{"id":111607,"date":"2023-10-11T15:39:39","date_gmt":"2023-10-11T10:09:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=111607"},"modified":"2023-10-11T15:42:45","modified_gmt":"2023-10-11T10:12:45","slug":"bank-stock-falls-3-5-after-rbi-finds-supervisory-concerns-in-the-mobile-banking-onboarding-processes","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-falls-3-5-after-rbi-finds-supervisory-concerns-in-the-mobile-banking-onboarding-processes\/","title":{"rendered":"Bank stock falls 3.5% after RBI finds concerns in the mobile banking onboarding processes"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3540357095\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>In this bank Reserve Bank of India (RBI) found supervisory concerns in the mobile banking onboarding process following that the stock declined over 3.5% on Wednesday. This stock has delivered 21% returns in six months and 59% returns in one year.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1436237188\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h4 class=\"wp-block-heading\" id=\"h-bank-of-baroda\"><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/BANKBARODA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Bank of Baroda<\/a><\/strong><\/h4><p>The company has a market capitalisation of Rs. 1,07,305 Cr, making it a large-cap company. On Wednesday the company stocks declined more than 3.5% and currently, shares were trading 3.1% down at Rs. 207.40 on BSE.<\/p><p>According to the BSE filing, RBI directed the Bank of Baroda (BoB)&nbsp; to suspend, with immediate effect, any further onboarding of customers onto its \u2018bob World\u2019 mobile application, based on certain supervisory concerns that RBI had observed in the bank\u2019s mobile banking onboarding processes. Further customer onboarding on the &#8216;bob world&#8217; application will be subject to further strengthening related processes by the bank to the satisfaction of the RBI.<\/p><p>As per the company filing, the company\u2019s total revenue grew by 54% from Rs. 21,576 Cr in Q1 FY23 to Rs. 33,318 Cr in Q1 FY24 and for the same period, net profit increased by 101% from Rs. 2,139 Cr to Rs. 4,302 Cr.<\/p><div class=\"trade-content_5\" id=\"trade-2271451216\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>As per the latest shareholding information, Promoters hold 63.97%, FIIs hold 12.29%, DIIs hold 16.04% and the public hold 7.07% stake in the company.&nbsp;<\/p><p>Bank of Baroda (BOB or BoB) is a public sector bank in India with headquarters in Vadodara, Gujarat. With 153 million customers, a total business of US $ 218 billion, and a global footprint of 100 abroad locations. It is India&#8217;s second largest public sector bank after the State Bank of India.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Sheshadri N<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2178563722\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>In this bank Reserve Bank of India (RBI) found supervisory concerns in the mobile banking onboarding process following that the stock declined over 3.5% on Wednesday. This stock has delivered 21% returns in six months and 59% returns in one year. Bank of Baroda The company has a market capitalisation of Rs. 1,07,305 Cr, making [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8356,8355,8354,948,936],"class_list":["post-111607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bank-of-baroda-business-update","tag-bank-of-baroda-latest-news","tag-bank-of-baroda-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank stock falls 3.5% after RBI finds concerns in the mobile banking onboarding processes - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"In this bank Reserve Bank of India (RBI) found supervisory concerns in the mobile banking onboarding process following that the stock declined over 3.5% on Wednesday. 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