Page 5 - Bank Of Baroda

IOB, Bank of Baroda raise MCLR rates by up to 0.10%, makes loan costly

Bank of Baroda and Indian Overseas Bank have raised their MCLR rates by up to 0.10 per cent, which will make most loans costlier for the customers. Indian Overseas Bank has revised upwards the MCLR rates by 0.10 per cent across tenors, making consumer loans costlier from Saturday. The benchmark 1-year tenor marginal cost of funds based lending rate (MCLR) has been revised to 7.75 per cent against the existing rate of 7.65 per cent. This will impact car, personal and home loans. The two and three-year MCLRs have been hiked by a similar margin to 7.80 per cent each. Among others, the overnight MCLR will cost 7.05 per cent, while one month at 7.15 per cent. The three and six-month MCLRs are up at 7.70 per cent each. The revised MCLRs will come into effect from September 10, 2022, Indian Overseas Bank said in a regulatory filing. Bank of Baroda's one-year MCLR will be priced at 7.80 per cent against 7.70 per cent, the bank said in a regulatory filing. The six-month MCLR will be up

Top public sector banks may soon end wait on trade settlement in rupee

Finance ministry to meet stakeholders on Wednesday

Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges

Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges. The bank allotted a total of 2,474 unsecured Basel III additional tier I perpetual non-convertible bonds, valuing Rs 1 crore each on Friday. Perpetual bonds carry no maturity date and they can be treated as equity rather than debt. Even as such bonds are not redeemable, they pay a steady flow of interest forever. The bonds are rated AAA with stable outlook by Icra and India Ratings, the bank said in a regulatory filing.

Jammu and Kashmir to Kerala, SBI executives are at every corner office

At least three PSBs have former SBI executives as MD & CEO at present - Sanjiv Chadha of Bank of Baroda, Partha Pratim Sengupta of Indian Overseas Bank and Soma Sankara Prasad of UCO Bank.

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

BoI takes Future Lifestyle to NCLT under bankruptcy code for due recovery

FLFL - in its filing with the BSE - said Saraf and Partners, advocates, on behalf of BoI, has served a petition under Section 7 of the IBC 2016

Bank of Baroda planning to raise Rs 5 billion through perpetual bonds

India's Bank of Baroda plans to raise at least 5 billion rupees ($62.52 million) through sale of Basel III compliant additional Tier I perpetual bonds, say three merchant bankers

Nifty PSU Bank index can rally up to 13%; check top stock picks

The PSU Bank index has rallied 31 per cent as against a 16 per cent surge in the benchmark from June lows; Among stocks, Bank of Baroda, Indian Bank and Union Bank of India can rally up to 16%.

We are on the path of recovery, says Bank of Baroda CEO Sanjiv Chadha

Broadly the trend we have seen is that retail is growing faster than corporate loans, said Chadha

Overall sown area of Kharif crop declines by 2.5%: Bank of Baroda report

Moreover, West Bengal has begun to receive normal rains and is a positive sign amidst dip in sowing activity

High interest rates do not deter home buyers, says BoB research report

High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May. The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic. The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector. With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...

Net profit of banks rose 37.1% to Rs 44,048 cr in Q1FY23: BoB report

The net profit of the banks rose by 37.1 per cent year-on-year to Rs 44,048 crore in the first quarter of the current financial year, according to a Bank of Baroda research report

We expect rupee to trade in 79.25-79.75 per dollar range: BoB report

The Indian rupee is expected to trade in the 79.25-79.75 per US dollar range in the coming days due to easing crude oil prices and continued inflows by foreign investors, the Bank of Baroda said

Sensex ends 352 pts off day's lows, rises 38 pts; L&T, Airtel top gainers

CLOSING BELL: The recovery was led by Kotak Bank (up 4 per cent), L&T, Bharti Airtel, SBI, HDFC Bank, HDFC, and ITC

Higher FD rates will not lure equity market investors for now: Analysts

Over the past few years, the return from the stock market has been far higher amid abundant liquidity that poured in from foreign and domestic investors

Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors

Union Cabinet has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme by Rs 50,000 crore Rs 5 Lakh crore, with the additional amount being earmarked entities in hospitality

Bank of Baroda launches special deposit schemes offering interest up to 6%

Bank of Baroda has launched a new deposit scheme offering interest rates of up to 6 per cent on domestic retail term deposits. The 'Baroda Tiranga Deposit Scheme' marks the 75th Independence Day of India, which is a special term deposit scheme offering higher interest rates, the bank said in a release on Tuesday. The scheme, to be available till December 31, 2022, has two tenor buckets of 444 days and 555 days, offering interest rates of 5.75 per cent per annum and 6 per cent per annum, respectively. The scheme was launched on Tuesday and is applicable on retail deposits below Rs 2 crore, the bank said. Senior citizens will get additional interest rates on their deposits under the scheme.

Top Headlines: Common charger for all mobiles; banks rush to woo depositors

At a time when growth in bank credit is outstripping that of deposits, several lenders, including the country's largest bank, State Bank of India (SBI), have raised deposit rates ahead of the festival

From SBI to BoB, banks rush to woo depositors ahead of festival season

SBI, Bank of Baroda, Canara Bank lift rates to 6% and above

Let customers enjoy freedom from banks' tyranny

The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market. But, there is no end to the harassment of customers