Bank of Baroda has received approval for divestment of shareholding in its subsidiary -- IndiaFirst Life Insurance Company (IndiaFirst), of up to such number of equity shares held by the bank, amounting up to 12.50% of the current paid-up share capital of IndiaFirst, ensuring that the shareholding of the bank in IndiaFirst does not fall below 51% of the current paid-up equity share capital of IndiaFirst, by way of offer for sale in the proposed initial public offer of IndiaFirst or through any other method permissible under applicable law and subject to market conditions and the approval of the Securities and Exchange Board of India, the Reserve Bank of India, the Insurance Regulatory and Development Authority of India, the Stock Exchanges, other authorities and departments. The Board of Bank of Baroda in its meeting held on July 30, 2022 has approved the same.
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.
