Flaws found in Bank of Baroda’s mobile app, Chief Digital Officer dismissed

Jalandhar, November 8 (Int): The Managing Director of the bank has dismissed the Chief Digital Officer (CDO) after deficiencies were found in the mobile app of the Bank of Baroda in the region. The bank’s Managing Director and Chief Executive Officer Devdutt Chand confirmed this and said that they have taken action against several officials. He said that as far as C.D.O. Akhil Handa is concerned, the bank has terminated his services.

R.B.I. had given instructions

Devdutt said the Reserve Bank of India (RBI) had last month said that Bank of Baroda will have to fix some shortcomings before it is allowed to add new customers on its ‘Bob World’ mobile app. He said that R.B.I. the concerns of the app are largely Customer Boarding Process Through and wrong data feed as well and in the documents, there was a difference in adequacy. This week’s in the beginning, the Bank of Baroda informed about the termination of employment of Akhil Handa. Handa from the creation of ‘Bob’s World’ Were closely related. Chand said that The Bank has internally monitored its And the vigilance mechanism has been strengthened. The managing director said the bank had reported a 28.4% rise in net profit for the July-September quarter due to strong loan growth. The state-run lender’s net profit rose to Rs 42.53 billion in the second quarter from Rs 33.13 billion a year earlier. Net interest income – the difference between interest earned and interest paid – increased by 6.5% to Rs 108.31 billion. Bank of Baroda’s net interest margin (NIM), a key indicator of the lender’s profitability, fell to 3.07% from 3.33% a year ago. Chand said that the bank expects its NIM for this financial year will be around 3.15%.