The Reserve Bank of India (RBI) has asked Bank of Baroda (BoB) to suspend further onboarding of customers onto the ‘bob World’, the lender’s mobile banking application.
“The RBI 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,” RBI said in a release
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