Latest News
-
25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
Bank Of Baroda Savings Account Can Now Be Opened Online With Aadhaar
Bank of Baroda (BoB) has launched 'Insta Click Savings Account' that uses a new form of digital KYC and Aadhar-based OTP authentication of the customer. The account can be opened on the bank's website, through internet banking or over its mobile app. The account is activated in real-time, making the account opening process instant, allowing customers to start transacting using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.
"We are working on digitisation of all our process and intend to be 100% paperless by 2023. The only way to ensure our customers can have a safe and secure banking experience without having the need to step out of their homes is with adoption of digital products and services," said Sanjiv Chadha, MD & CEO, Bank of Baroda.
Bank of Baroda's promotional video for the Insta Click Savings Account says that this account can be opened in 5 minutes in 4 easy steps using details on one's Aadhaar, PAN, mobile number and email ID.
Customers of this savings account product will be able to avail facilities like internet and mobile banking, SMS alerts, debit card, ticket booking, etc.
It also has no minimum balance requirement.
The product launch comes amid the coronavirus pandemic, as banks look to reduce footfalls at branches.
The State Bank of India (SBI) had also recently relaunched its Aadhaar-based instant digital savings account facility for customers who want to open an online account using its YONO platform.
