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22-09-2023 04:05 PM | Source: Accord Fintech
Bank of Baroda shines on enabling UPI LITE

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Bank of Baroda is currently trading at Rs. 214.75, up by 7.65 points or 3.69% from its previous closing of Rs. 207.10 on the BSE.

The scrip opened at Rs. 209.30 and has touched a high and low of Rs. 218.00 and Rs. 208.65 respectively. So far 1110676 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 219.60 on 18-Sep-2023 and a 52 week low of Rs. 124.00 on 28-Sep-2022.

Last one week high and low of the scrip stood at Rs. 219.60 and Rs. 206.45 respectively. The current market cap of the company is Rs. 111261.86 crore.

The promoters holding in the company stood at 63.97%, while Institutions and Non-Institutions held 28.32% and 7.70% respectively.

Bank of Baroda has enabled UPI LITE - Small Value on Device Wallet. UPI LITE is a wallet that allows users to make instant, small value digital payments with only one tap without the use of a UPI PIN. UPI LITE enables customers to seamlessly make multiple, small value transactions instantly during peak hours. The maximum balance in the UPI LITE wallet at any point of time cannot exceed Rs 2,000.

To avail this service, customers need to enable UPI LITE on BHIM or any UPI LITE support app. During LITE activation, customers can fund their UPI LITE account through their UPI-linked Bank of Baroda bank account. Merchants will receive seamless instant payments from customers. Customers can use the wallet balance to make small value, cashless payments at kirana stores, pharmacies, restaurants, shops, fuel retail outlets, and more. UPI LITE will help in reducing the load on the system by processing small-value payments, improving the success rate for low value transactions and enhancing user experience.

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.