The Reserve Bank of India (RBI) has lifted restrictions on Bank of Baroda's BoB World mobile app, allowing the bank to onboard customers without limitations. This decision provides a significant relief to the bank and impacts its operations positively. The new norm applies to all Non-Banking Financial Companies (NBFCs), as mentioned by George Alexander of Muthoot Finance. The regulatory clearance received by Bank of Baroda signifies a positive development in its digital services.
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