RBI Blocks Bank of Baroda From Adding New App Users Due to Registration Error
The Reserve Bank of India (RBI) has blocked Bank of Baroda from adding new app users due to registration errors. The central bank has said that the bank has not been able to rectify these errors despite being given repeated opportunities.
The RBI has said that the bank has been facing problems with its app registration process for several months now. These problems have led to a lot of inconvenience for customers, as they have not been able to access their bank accounts or use other banking services.
The RBI has said that it has been working with the bank to resolve these issues. However, since the bank has not been able to rectify the errors, the central bank has decided to block it from adding new app users.
The RBI has said that the bank will be allowed to resume adding new app users only after it has rectified all the registration errors. The central bank has also said that it will continue to monitor the bank’s progress in resolving these issues.
This is a major setback for Bank of Baroda, as it will prevent the bank from adding new customers. The bank will also lose out on revenue from these new customers.
In the meantime, Bank of Baroda has advised its existing customers to continue using the app as usual. The bank has also said that it is working to rectify the registration errors as soon as possible.