Bank of Baroda gets RBI OK to transfer PD ops to new wholly owned subsidiary
This story was originally published at 16:36 IST on 9 January 2026
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--Bank of Baroda: To split PD ops into proposed wholly owned subsidiary
--Bank of Baroda: Proposed arm to be standalone PD after license transfer
NEW DELHI – Bank of Baroda will move its primary dealer business to a wholly owned subsidiary, which will be established as a standalone primary dealer, the bank said on Friday. The bank has received approval from the Reserve Bank of India to transfer its primary dealer business to the proposed subsidiary.
"... bank has received in-principal approval from the Reserve Bank of India for its request to transfer existing authorization as a bank primary dealer to a proposed wholly owned subsidiary for undertaking standalone primary dealer business," the bank informed exchanges. "Standalone primary dealer business will be established subject to other regulatory approvals," the bank said.
A primary dealership underwrites government-dated security issuances and participates in primary auctions. As of end-March, there were 21 primary dealers in India, 14 of which operated as departmental bank primary dealers and seven as standalone primary dealers. Standalone primary dealers accounted for a 17.8% share of the total turnover in the secondary government securities market in Apr-Sept, according to RBI data.
For the quarter ended September, Bank of Baroda had reported a net profit of INR 48.09 billion on total income of INR 350.26 billion. On Friday, the bank's shares ended 0.4% higher at INR 300.65 on the National Stock Exchange. End
Reported by Shubham Rana
Edited by Saji George Titus
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