Deals9 Jan 2026, 03:36 pm
Bank of Baroda Receives In-Principal Approval from RBI for Standalone Primary Dealer Business
AI Summary
Bank of Baroda has announced that it has received In-Principal approval from the Reserve Bank of India (RBI) to transfer its existing Authorization as a Bank Primary Dealer to a proposed wholly owned subsidiary. This new entity will undertake Standalone Primary Dealer Business, subject to other regulatory approvals. The Bank will continue to make further disclosures as and when there are material developments in the matter.
Key Highlights
- Bank of Baroda receives In-Principal approval from RBI for Standalone Primary Dealer Business
- The Bank will transfer its existing Authorization as a Bank Primary Dealer to a proposed wholly owned subsidiary
- The Standalone Primary Dealer Business will be established subject to other regulatory approvals
- Bank of Baroda will continue to make further disclosures as and when there are material developments in the matter