Bank of Baroda gains on launching electronic bank guarantee on BarodaINSTA platform
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Bank Of Baroda is currently trading at Rs. 178.85, up by 0.35 points or 0.20% from its previous closing of Rs. 178.50 on the BSE.
The scrip opened at Rs. 178.50 and has touched a high and low of Rs. 180.55 and Rs. 177.70 respectively. So far 716419 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 197.20 on 09-Dec-2022 and a 52 week low of Rs. 89.90 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 185.20 and Rs. 172.85 respectively. The current market cap of the company is Rs. 92644.95 crore.
The promoters holding in the company stood at 63.97%, while Institutions and Non-Institutions held 27.92% and 8.11% respectively.
Bank of Baroda has launched electronic bank guarantee (e-BG) on its BarodaINSTA platform, in partnership with National E-Governance Services Limited (NeSL). NeSL is India's first and only Information Utility and is regulated by the Insolvency and Bankruptcy Board of India (IBBI) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).
With this launch, Bank of Baroda has joined a select group of banks to issue electronic bank guarantees. Electronic bank guarantee is a start-to-end digital process across the complete lifecycle of a BG including issuance, amendment and closure resulting in substantial reduction in the turnaround time in issuing a BG, while at the same time bringing in greater security and accessibility.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
