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%.

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..