In response to the RBI's move of reducing the key policy (Repo) rate by 25 bps and slashing Cash Reserve Ratio by similar proportion in its Third Quarterly Review of Monetary Policy, Bank of Baroda has realigned its Deposit Rates in the band of 15 to 20 bps in the shorter maturities and pruned its Base Rate and BPLR by 25 bps each with effect from February 09, 2013. With this, the Bank's Base rate will be at 10.25% and BPLR at 14.50% with effect from February 09, 2013.
Recently, the bank has received an approval for issuance of equity shares of face value of Rs 10 each, for an amount up to Rs 1,550 crore, at such price as may be decided as per SEBI (ICDR) Regulations, on preferential basis in favour of Government of India. The board at its meeting held on December 24, 2012 has approved for the same.
