Bank of Baroda plans to raise Rs 10,000 cr through bonds

Mumbai, Oct 11: The Bank of Baroda board of directors on Wednesday approved a proposal to raise up to Rs 10,000 crore through long-term bonds for financing infrastructure and affordable housing.

“The board of directors in its meeting held today has approved the proposal for raising Long Term Bonds for financing of infrastructure and affordable housing aggregating to a total size up to Rs 10,000 crores, in single or multiple tranches during 2023-24 and beyond, if found expedient,” the bank said in a filing with the stock exchange.

The RBI had on Tuesday barred the Bank of Baroda from any further onboarding of their customers onto the ‘bob World’ mobile application due to “certain material supervisory concerns observed in the manner of onboarding their customers.