Employee of Bank of Baroda(BoB) arrested for stealing Rs 8.70 crore

Harsiddh Kadiyar, a joint custodian for Bank of Baroda, was detained by the Ahmedabad Police on Friday on suspicion of embezzling Rs 8.70 crore from the bank. According to reports, Kadiyar, who had been employed by the bank for the previous fifteen years, acknowledged that he stole in order to support an opulent lifestyle.

Officials at the bank's Kalupur branch, which also has a Reserve Bank of India (RBI) currency chest used to transfer money to other banks, uncovered the alleged theft after discovering that 174 bundles of Rs 500 notes worth Rs 8.70 crore were missing from the vault. Chief custodian Sanjay Sharma and joint custodian Harsiddh Kadiyar oversaw the vault.

After reviewing the CCTV footage, bank officials discovered that Kadiyar was observed leaving the bank on January 13 with many boxes. By claiming that the boxes contained trash that he was taking outdoors for disposal, he allegedly deceived his coworkers. He thought the CCTV film would be automatically erased after three months, so he kept working at the bank for about ninety days following the robbery.

The bank manager later filed a complaint at the local police station, after which the police started an investigation.

Police arrested Kadiyar soon after the complaint was filed. During questioning, he reportedly confessed to the crime.

According to the preliminary investigation, Kadiyar used the stolen money to buy a bungalow in Chandkheda worth more than Rs 2 crore, a shop worth Rs 1.40 crore, a small truck, and also invested some money in cryptocurrency.

He also allegedly gave Rs 28 lakh to a co-worker, Vaishali Ben. Police recovered Rs 2.20 crore in cash from an Ertiga car parked outside a house in Sola where Kadiyar was staying. The vehicle and his mobile phone have also been seized.

Following that time, Kadiyar claimed to be ill and quit going to work. He requested a five-day medical absence on April 13, but he didn't go back to work until April 20.

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Bank of Baroda (BoB) Apprentice Recruitment for 5000 Posts

Bank of Baroda(BoB) has released the official notification for the engagement of Apprentices under the Apprentices Act, 1961. According to the notification, a total of 5000 apprenticeship seats have been announced for various States and Union Territories across India.

The Bank of Baroda Apprentice Recruitment 2026 notification was released on 19 May 2026. The online application process has started from 19 May 2026 and will continue till 8 June 2026. Interested and eligible candidates can submit their applications online through the official apprenticeship portals within the prescribed dates.

BOB Apprentice Recruitment 2026 Important Dates

• Notification Release Date: 19 May 2026
• Online Application Start Date: 19 May 2026
• Last Date to Apply Online: 08 June 2026 till 11:59 PM
• Fee Payment Last Date: 08 June 2026
• Exam Date: To be released

BOB Apprentice Recruitment 2026 Educational Qualification

Post Name	Qualification
Apprentice	Graduation in any stream from a recognized university along with knowledge of the local language

BOB Apprentice Recruitment 2026 Vacancy Details

Post Name	Vacancies
Apprentice	5000

BOB Apprentice Recruitment 2026 Notification PDF & Apply Online Form Link

• Download Notification PDF
• Click here to apply Online

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Cash shortage in Currency Chest in Ahmedabad: ₹8.70 Crore Missing found During Audit

Bank fraud involving cash remittance irregularities has come to light in Bank of Baroda(BoB), Kalupur, Ahmedabad.

Incident Details:

* A Chief manager of a bank Mr. Harihar Devam lodged a complaint regarding irregularities in cash remittance deposited with a cash logistics/custodian company responsible for transferring money between banks.

* The Reserve Bank-authorized cash remittance process involved appointing a main custodian Mr. Sanjay Sharma and joint custodian Mr. Harsidhdh Kadiyar for handling cash. The accused was appointed as joint custodian.

* When large amounts of cash are received in the treasury, the custodian records and manages the cash.

* On 13 April, the joint custodian informed the branch manager that his health was not good and requested leave. Initially, one day leave was granted, followed by five days medical leave.

* After completion of the leave period, he again requested 17 more days leave from 20 April onwards. However, the bank rejected the leave request and instructed him to report for duty because a new main custodian was to be appointed.

* Since the employee did not return to duty, responsibilities were handed over to another staff member.

* During an internal audit by the RBI-authorized agency, a shortage of 174 sealed cash packets of ₹500 denomination was detected, amounting to approximately ₹8.70 crore.

* Investigation revealed that the cash packets had allegedly been removed from the bank treasury.

* It was also found that the accused had fled with his family from his residence in Chandkheda.

* A complaint regarding the matter has been registered at Kalupur Police Station.

Brief :

It has been alleged that a Bank of Baroda employee at the Kalupur branch embezzled Rs 8.7 crore from the company's currency reserves and concealed the shortfall by uploading fictitious balance certificates on the RBI's e-Kuber platform. 

Following the employee's extended absence, the fraud was discovered during an internal audit. The accused, a resident of Chandkheda, was the joint custodian of the currency chest at the Gandhi Road branch, according to the chief manager's report submitted to Kalupur police on Friday. 

Despite several calls and emails, he did not return after taking a leave of absence on April 13 due to health concerns. Officials found 174 reams of Rs 500 notes missing during the ensuing audit. Ten bundles of 100 notes apiece, totaling Rs 8.7 crore, were packed in each ream.

The "bin book" and Excel sheets used for daily reconciliation may have been manipulated, according to the complaint, which claims that internal records misrepresented the amount of cash as available. The certificates uploaded to the e-Kuber system were purportedly created using these documents. 

The accused reportedly entered the branch on the evening of January 13, according to CCTV footage examined during the investigation. Soon after, a laborer and his kid came in, and the video shows the three of them leaving the branch with several boxes. 

According to the complaint, security guards told him that evening that the accused was stealing boxes from the property. The accused allegedly stated that the boxes included scrap material intended for disposal when questioned at the time.

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Bank of Baroda(BoB) Q4 results: Profit jumps 11% YoY

 Public sector lender Bank of Baroda (BoB) on Friday, 8 May, reported an 11.25% year-on-year (YoY) rise in its standalone net profit to ₹5,615.68 crore for the January-March quarter of the financial year 2026 (Q4FY26). In the same quarter of the previous financial year, BoB's profit was ₹5,047.73 crore.

Sequentially, or on a quarter-on-quarter basis, BoB's profit rose by 11% from ₹5,054.63 crore in Q3FY26.

Operating income during the quarter under review climbed 1.4% YoY to ₹16,460 crore, while operating profit jumped 11.5% YoY to ₹9,069 crore in Q4FY26.

For the entire financial year 2026, BoB's standalone profit rose by 2.25% to ₹20,021.06 crore from ₹19,581.15 crore in FY25.

Meanwhile, the PSU bank's board recommended a dividend of ₹8.50 per share for FY26. The record date for the purpose is 5 June 2026.

BoB's net interest income (NII) rose by 8.7% YoY to ₹12,494 crore, while global net interest margin (NIM) eased to 2.89% in Q4FY26 from 2.98% in Q4FY25.

Total provisions (excluding taxes) and contingencies saw a sharp 103% YoY jump to ₹3,150 crore in Q4FY26. In the same quarter last year, it was ₹1,552 crore.

Domestic deposits grew by 12.8% YoY to ₹14,01,290 crore, while domestic advances also saw an impressive growth of 14.5% YoY to ₹11,69,458 crore.

BoB's domestic CASA increased by 9.8% YoY to ₹5,45,034 crore.

Bank of Baroda reported a decline in non-performing assets (NPA) for the March quarter. While gross NPA eased to 1.89% from 2.26% YoY, net NPA also dropped to 0.45% from 0.58% YoY.

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This PSU Bank pays PLI to MD and EDs as per new DFS PLI Scheme

In accordance with the new PLI program launched by DFS, Ministry of Finance, Government of India, Bank of Baroda has paid PLI to MDs and EDs. The government and bank unions are engaged in a cold war over the new PLI program. 

UFBU has threatened a flash strike and declared its opposition to the new PLI plan. However, the PLI has been credited to MD&EDs by the Bank of Baroda, and it will shortly be awarded to other senior executives (Scale IV and above).

On social media, users have posted a screenshot of the PLI payment. The screenshot serves as evidence of the PLI payment made to MD&EDs.

The MD and Executive Directors received the following PLI amount:Shri Debadatta Chand, MD & CEO, received ₹16,15,680. Shri Lalit Tyagi, Executive Director, received ₹16,12,800. Shri Sanjay Vinayak Mudaliar, Executive Director, received ₹16,12,800, while Shri Lal Singh, Executive Director, received ₹16,12,800. Smt Beena Vaheed, Executive Director, received ₹10,40,516.40.

Another update is that the Punjab National Bank (PNB) board has authorized senior executives to get PLI in accordance with the new PLI scheme that the DFS, Ministry of Finance, Government of India, implemented. Shri Krishna Kumar, the General Secretary of AIPNBOF, affirmed this. All of the bank's senior executives will eventually receive credit for the PLI.

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Court Case filed against PSU Bank Zonal Manager Mumbai for arbitrary transfer of officers

The Mumbai-based All India Bank of Baroda Officers' Union has voiced its opposition to the capricious staff transfers. According to sources, the Mumbai Zonal Manager moved a number of employees from one area to another in the middle of the school year, citing "administrative exigencies." Due to their sudden relocation from one area to another in the middle of the academic year, this has caused a number of problems for the officers. After being relocated, an officer must look for a rental property, a school to send their child to, and a reputable physician (if they have any health concerns).

The union raised its voice against this, but the Zonal Manager, Mumbai, stated that all transfers are within the city and therefore do not require prior approval from CGM (HR). However, Clause 7.1(a) of the Transfer Policy clearly stipulates that the criteria for transfers shall be “longest stay.” Contrary to this mandate, officers with the shortest stay have been transferred by bypassing several officers with the longest stay, thereby amounting to deliberate insubordination of Board-approved policy.

Moreover, the Vice President of the union questioned the Mumbai Zonal HR, in the presence of ALC (C), Mumbai, regarding the practice of referring medical cases to empanelled doctors instead of subjecting them to a legally constituted Medical Board. Immediately thereafter, he was transferred from MMSR to MWR. In an apparent attempt to generalise and camouflage the vindictive nature of this transfer, several other officers were also transferred.

The union took up the matter with several authorities but failed to receive any response from GM (HR) and CGM (HR). Finally, a case has been filed against the Zonal Manager, Mumbai, before the Hon’ble High Court. Despite this, the ZM, Mumbai, proceeded with further inter-regional transfers.

In another instance, an officer in MMSR who had been deputed to the Service Branch for more than five months on oral instructions questioned the management and requested written orders. On 5th February, he was issued a confirmation order with retrospective effect, and on the very next day, i.e., 6th February, he was transferred to Navi Mumbai. In several such cases, the transferred officers are eligible for IZT during the current year, and dislocating them at this stage causes avoidable disturbance and hardship.

It is unfortunate that though these violations are occurring in Mumbai, and despite bringing them to the notice of GM (HR) and CGM (HR), no action has been initiated against the erring officials who are deliberately defying your circular instructions.

The matter requires urgent attention from the top management. Transfers carried out in deviation of the approved policy not only cause personal hardship to officers but also create unrest within the organisation. The concerns raised by the union regarding arbitrary transfers, violation of the “longest stay” principle, and alleged vindictive actions must be examined fairly and transparently.

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Bank of Baroda Q3 Results: Profit rises

State-run lender Bank of Baroda posted a stable set of numbers for the December quarter, marked by modest profit growth, resilient asset quality metrics and loan book expansion that came in above management guidance.

Net profit rose 4.5% year-on-year to Rs.5,054 crore, compared with Rs.4,837 crore in the same quarter last year. Net interest income remained largely flat at Rs.11,800 crore, up marginally from Rs.11,786 crore a year ago.

Asset quality continued to improve, with gross non-performing assets easing to 2.04% from 2.16% sequentially. Net NPA stood unchanged at 0.57% quarter-on-quarter.

Collection efficiency, excluding agriculture, remained strong at 98.63% as of December 2025. Provision coverage ratio under NCLT accounts was reported at a healthy 99.66%.Segment-wise asset quality remained comfortable, with gross NPA ratios at 1.19% for housing loans (ex-pool), 1.75% for auto loans (ex-pool), 4.42% for personal loans and 0.56% for retail gold loans.

The bank’s loan book grew 14.6% year-on-year to Rs.13.43 lakh crore, exceeding management’s guidance of 11–13% growth. Sequentially, advances rose 5.1%. Domestic advances increased 13.54% year-on-year to ₹10.95 lakh crore. Deposits also grew 10.3% year-on-year to Rs.15.46 lakh crore during the quarter.

Bank of Baroda continued to exceed regulatory norms under priority sector lending, with total priority sector advances at 40.45% of adjusted net bank credit. Agriculture, small and marginal farmers, weaker sections and micro enterprises lending all stood above mandated thresholds.

The bank’s card business also showed steady traction. Active BOB Cards increased to 30.68 lakh as of December 31, 2025, while card spends for the first nine months of FY26 rose 17.3% year-on-year to Rs.31,101 crore.

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AGM sentenced 1 Year Jail for irregularities in Loan Sanction and Disbursement

In a 2008 loan fraud case involving Vijaya Bank and Roshan Electrical Pvt Ltd, a special CBI court has rendered its decision. On April 1, 2019, Vijaya Bank, a PSU bank with its headquarters in Bangalore, Karnataka, India, merged with Bank of Baroda. Anitha Mathias, a director of the company, was found guilty by the court of actively managing the company and being personally involved in the fraudulent operations. She was sentenced to three years in prison and fined Rs 1 crore.

The Assistant General Manager of Vijaya Bank's Goregaon branch, Shridhar Shetty, was also convicted by the court of conspiring to commit fraud. He was fined Rs 50,000 and given a one-year prison sentence. However, due to a lack of evidence, the court cleared Mahesh Kotian, the manager of Bharat Cooperative Bank, and closed the case against Maxima Mathias, Anitha's husband, who died during the trial. 

 The matter started when an anonymous allegation prompted Vijaya Bank to launch an internal investigation. Roshan Electrical has long-standing accounts with Bharat Cooperative Bank and had a cash credit limit of Rs 12 crore, according to the CBI's Economic Offences Wing.

Despite concerns, Shetty sanctioned Rs 20 crore as cash credit and Rs 10 lakh as bank guarantee, supported by a confidential report from Bharat Cooperative Bank that failed to mention key details such as four sister concerns of the firm and multiple dishonoured cheques. Investigators claimed that Shetty released Rs 21 crore—far more than the approved takeover amount of Rs 13.02 crore—without ensuring the transfer of a Rs 3 crore term deposit that was supposed to serve as security.

During the trial, both Anitha and Shetty argued that they were wrongly implicated, but the court rejected their claims. It held that Anitha was actively involved in the company’s operations and that Shetty knowingly violated procedures, making him part of the conspiracy. The court also observed that although the CBI did not fully investigate Kotian’s alleged role in suppressing facts, there was insufficient evidence to convict him. The verdict highlights serious procedural lapses and underscores the court’s intent to send a strong message against financial fraud and misuse of banking systems.

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