{"id":161880,"date":"2024-02-10T11:35:27","date_gmt":"2024-02-10T06:05:27","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=161880"},"modified":"2024-02-10T11:35:29","modified_gmt":"2024-02-10T06:05:29","slug":"bob-to-raise-10000-crore-rupees-to-fund-affordable-housing-infra","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/bob-to-raise-10000-crore-rupees-to-fund-affordable-housing-infra\/","title":{"rendered":"BOB to raise 10,000 Crore rupees to fund affordable housing, infra"},"content":{"rendered":"\n<p><strong>On October 11,<\/strong>&nbsp;the&nbsp;<strong>Bank of Baroda\u2019s<\/strong>&nbsp;board approved a plan to raise up to Rs&nbsp;<strong>10,000 crore<\/strong>&nbsp;through long-term bonds. These funds will be used to support infrastructure development and affordable housing.<\/p>\n\n\n\n<p><strong>Expedient Fundraising<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The bank\u2019s statement mentioned that this fundraising could be done in single or multiple tranches during the&nbsp;<strong>fiscal year 2023-24<\/strong>&nbsp;and beyond, depending on the need.<\/li>\n<\/ul>\n\n\n\n<p><strong>RBI Concerns and HSBC Downgrade<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;On October 10, the<strong>&nbsp;Reserve Bank of India (RBI)<\/strong>&nbsp;temporarily prevented the bank from onboarding new customers through its digital banking app,&nbsp;<strong>BoB World,<\/strong>&nbsp;due to concerns regarding the onboarding process.<\/li>\n\n\n\n<li>In response to this,<strong>&nbsp;HSBC<\/strong>&nbsp;downgraded Bank of Baroda\u2019s stock from&nbsp;<strong>\u201cbuy\u201d to \u201chold\u201d<\/strong>&nbsp;with a target price of&nbsp;<strong>Rs 220.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Strong Business Growth<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bank of Baroda reported a&nbsp;<strong>17 percent year-on-year (YoY)<\/strong>&nbsp;growth in total advances, reaching&nbsp;<strong>Rs 10.3 lakh crore,<\/strong>&nbsp;with domestic advances up by&nbsp;<strong>16.6 percent YoY.<\/strong><\/li>\n\n\n\n<li>The international book also saw a&nbsp;<strong>21 percent YoY increase (6.4 percent quarter-on-quarter).<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Retail Loans Driving Growth<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retail loans were a key driver of the bank\u2019s overall loan growth. Domestic retail loans grew by&nbsp;<strong>22.5 percent YoY<\/strong>&nbsp;and&nbsp;<strong>5.4 percent quarter-on-quarter,<\/strong>&nbsp;as per the&nbsp;<strong>Q2<\/strong>&nbsp;provisional business update.<\/li>\n<\/ul>\n\n\n\n<p><strong>Robust Deposit Growth<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Total deposits increased by&nbsp;<strong>14.6 percent YoY,<\/strong>&nbsp;reaching&nbsp;<strong>Rs 12.5 lakh crore,<\/strong>&nbsp;with domestic deposits up by&nbsp;<strong>12 percent YoY.<\/strong><\/li>\n\n\n\n<li>International deposits showed significant growth, jumping&nbsp;<strong>32 percent YoY.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>CASA Deposits<\/strong><\/p>\n\n\n\n<p>Domestic Current Account Savings Account (CASA) deposits grew by 4.4 percent YoY.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 11,&nbsp;the&nbsp;Bank of Baroda\u2019s&nbsp;board approved a plan to raise up to Rs&nbsp;10,000 crore&nbsp;through long-term bonds. These funds will be used to support infrastructure development and affordable housing. Expedient Fundraising RBI Concerns and HSBC Downgrade Strong Business Growth Retail Loans Driving Growth Robust Deposit Growth CASA Deposits Domestic Current Account Savings Account (CASA) deposits grew [&hellip;]<\/p>\n","protected":false},"author":419,"featured_media":161881,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5227],"tags":[74,1475],"class_list":["post-161880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-october-2023-current-affairs","tag-bank-current-affairs","tag-daily-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/161880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=161880"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/161880\/revisions"}],"predecessor-version":[{"id":161882,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/161880\/revisions\/161882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/161881"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=161880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=161880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=161880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}