Bank of Baroda takes over PD activity from its Subsidiary

Mumbai, Jan 8 (UNI) The public sector Bank of Baroda (BoB) has obtained permission from the Reserve Bank of India for take over of Primary Dealership (PD) business activity from its wholly owned subsidiary BOB Capital Markets with effect from January 16, 2007.

Announcing this in a notice to BSE, the Bank said the RBI's letter dated December 26, 2006, the bank was permitted to undertake the Primary Dealership (PD) activity as a department of the Bank by it.

Accordingly, the bank proposed to undertake PD business of the subsidiary from the said date.

UNI