Bank of Baroda's digital lending business head Akhil Handa has quit, days after the Reserve Bank of India barred the state-owned lender from onboarding fresh customers on its mobile application 'bob World'.
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In a late-night regulatory filing, Bank of Baroda (BoB) on Tuesday informed about the cessation of employment of Akhil Handa.
BoB announced the appointment of Kadgatoor Sheetal Venkatesmurt as head of Digital Channels and Operations and Digital Lending Business. Prior to this, she was the head of Digital Channels and Operations.
On October 10, the Reserve Bank of India (RBI) directed BoB to halt onboarding fresh customers on its mobile application 'bob World' with immediate effect, citing material supervisory concerns.
RBI had said that the action was based on certain material supervisory concerns observed in the manner of onboarding customers onto the application.
Following the RBI's action, the bank had suspended a few officials related to the alleged manipulation of 'bob World'.