BANKBARODA.NSE

Bank of Baroda

NEW DELHI: An Informal Group of Ministers (IGoM), comprising several senior members of the Union Cabinet, convened a meeting on Saturday to assess potential risks to India’s energy security, supply of essential commodities, and the resilience of critical infrastructure in light of the escalating conflict in West Asia. The meeting reflected the government’s growing concern over the ripple effects of regional instability on India’s domestic supply chains and economic stability. Officials present engaged in a detailed review of measures already underway to safeguard national interests. Discussions focused on ensuring uninterrupted energy supplies, maintaining adequate reserves of essential goods, and strengthening logistical frameworks to withstand external shocks. The ministers emphasised the importance of proactive planning and coordination across departments to mitigate any disruption that could affect the daily lives of citizens. The government underscored its commitment to protecting citizens from the adverse consequences of the conflict.

A consumer court in Surat has ordered Bank of Baroda to pay over Rs 3 lakh to a customer after it failed to refund Rs 10,000 from a failed ATM withdrawal for nearly nine years. The customer pursued the matter for several years. The court cited RBI rules on timely refunds, and the ruling highlights the importance of bank accountability in handling customer complaints.

A Surat customer’s failed Rs 10,000 ATM withdrawal has resulted in a major penalty for Bank of Baroda after a nine-year legal battle. The consumer commission ordered the bank to refund the amount with interest and pay daily compensation, taking the total payout to over Rs 3 lakh.

MUMBAI: Indian Bank and National Bank for Financing Infrastructure and Development plan to raise a combined 80 billion rupees ($864.10 million) from the corporate bond market by March, two bankers with knowledge of the matter said on Wednesday. Indian Bank is set to raise 50 billion rupees through seven- or 10-year infrastructure bonds, while NaBFID plans to raise about 30 billion rupees through 10-year notes, the bankers said. “Both the entities are targeting to complete the fundraising as early as possible in the next week, and have already tied up with some investors,” one of the bankers said. The bankers requested anonymity as they are not authorized to speak to the media. Indian Bank and NaBFID did not reply to a Reuters email seeking comment. This would be the first time Indian Bank will tap the bond market in nearly 18 months. In October 2024, the lender had raised 50 billion rupees through 10-year infrastructure bonds at 7.12% coupon. READ MORE: India’s Axis Bank to invest $162 million in consumer lending arm The issuance follows a pickup in infrastructure bond fundraising, with Union Bank of India set to raise 75 billion rupees through 10-year bonds on Friday.