8 May 2024: RBI lifts ban on Bank of Baroda onboarding new customers via 'Bob World' app.

The Reserve Bank of India (RBI) lifted its ban on Bank of Baroda (BoB) onboarding new customers through its 'Bob World' mobile app on 8 May 2024. The RBI had imposed the restriction in October 2023 due to material supervisory concerns. Bank of Baroda can now resume onboarding customers through the Bob World app in accordance with the applicable guidelines and extant laws or regulations.