RBI lifts ban on Bob World

Mumbai, May 09: The RBI has lifted the ban on Bob World, an app which was being run by Bank of Baroda.

The bank said in a statement that, “We wish to inform that the RBI, vide its letter dated May 08, conveyed to the Bank of Baroda its decision to lift the restrictions on Bob World with immediate effect, as such the Bank is free to onboard customers through Bob World application in accordance with the applicable guidelines and extant laws/regulations. The Bank will now resume onboarding new customers in the Bob World application.”

The Bank remains committed to ensuring adherence and compliance with regulatory guidelines.

We request you to take note of the above pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, the bank statement said.