Bank of Baroda to Double IT Workforce

25 Jun 2024 CW Team

State-owned Bank of Baroda is set to double its in-house technology team headcount from 1,500 to 3,000 within the next two years, according to managing director and chief executive officer Debadatta Chand. The expansion will include regular hiring processes and lateral hires of specialist talent.

"In the next two years, we will double the number of people in our IT team," Chand stated following the announcement of the bank's March quarter earnings. This move comes amid stringent actions by the Reserve Bank of India (RBI) on banks for technology shortfalls affecting transaction execution.

Besides the current 1,500 employees, the bank also employs contractual workers in its IT function. The recruitment of contemporary talent aims to bolster the bank's IT professional strength significantly.

Chand mentioned that lateral hires would be made across various grades based on requirements and candidates' experience. Additionally, a generative artificial intelligence-based platform will soon be launched, offering customers a range of interactive services.

Bank of Baroda has been aggressively investing in technology, with about Rs 20 billion spent on infrastructure. The bank's technology budget for FY24 was Rs 7.43 billion, with actual IT expenditures amounting to Rs 4.53 billion.

Further, the bank plans to open 60 new branches in the fiscal year 2024-25 and is targeting a credit growth of 12-14%, supported by a deposit growth of 10-12%. Chand also noted the bank's aspiration to maintain its Net Interest Margins (NIMs) at 3.15%.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..