Banking Mantra

Economic Weekly Wrap
26 August 2024 - 30 August 2024

Back to all Articles
  • 26 Aug 2024

    In one of the most anticipated speech by Fed chair, there has been clarity on the imminent rate cuts as he stated ‘the time has come’. The uncertainty now remains on the quantum of cuts, with the possibility of 3-consective 25bps cuts in the upcoming 3 meetings. Separately, PBoC has kept the medium term lending rate unchanged at 2.3% (1-year).The bank has also decided to inject additional liquidity. On the domestic front, Cabinet approved the UPS (Unified Pension Scheme) which is expected to benefit over 23 lakh central government employees. The scheme will provide the subscribers with assured pension, benefit of inflation indexation and family pension. Markets will closely track US PCE, GDP (Q2CY24), durable goods order, pending home sales data, along with flash inflation reading for EU and India’s GDP data for Q1FY25.


    Barring Hang Seng (lower) and Sensex (flat), other global indices ended higher. The dovish signal of lower rates boosted the US indices. A surge in new home sales data also supported the market. Nikkei advanced by 0.4% led by gains in pharma stocks. Sensex is trading higher today, while other Asian stocks are trading mixed.

    Fig 1 – Stock markets

      22-08-2024 23-08-2024 Change, %
    Dow Jones 40,713 41,175 1.1
    S & P 500 5,571 5,635 1.1
    FTSE 8,288 8,328 0.5
    Nikkei 38,211 38,364 0.4
    Hang Seng 17,641 17,612 (0.2)
    Shanghai Comp 2,849 2,854 0.2
    Sensex 81,053 81,086 0
    Nifty 24,812 24,823 0

    Source: Bloomberg, Bank of Baroda Research


    Global currencies ended higher against the US$. DXY fell steeply by (-) 0.8%, tracking comments from Fed Chair Powell. JPY and GBP gained the most, with JPY supported by the continued divergence in BoJ and Fed’s policy stances. BoJ Governor Ueda remains hawkish. INR ended stronger and is trading steeply higher even today, while other Asian currencies are trading mixed.

    Fig 2 – Currencies

      22-08-2024 23-08-2024 Change, %
    EUR/USD (1 EUR / USD) 1.1112 1.1192 0.7
    GBP/USD (1 GBP / USD) 1.3091 1.3214 0.9
    USD/JPY (JPY / 1 USD) 146.29 144.37 1.3
    USD/INR (INR / 1 USD) 83.95 83.90 0.1
    USD/CNY (CNY / 1 USD) 7.1470 7.1209 0.4

    Source: Bloomberg, Bank of Baroda


    Barring Asian economies, other global 10Y yields declined, with the yields in the US and UK falling the most. Fed Chair Powell’s comments indicating that the central bank is ready to cut rates helped ease yields, increasing bets for a 50bps cut in Sep’24. India’s 10Y yield rose by 1bps following the release of RBI minutes. However, in line with global cues, it is trading slightly lower today at 6.85%.

    Fig 3 – Bond 10Y yield

      22-08-2024 23-08-2024 Change, bps
    US 3.85 3.80 (5)
    UK 3.96 3.91 (5)
    Germany 2.24 2.23 (2)
    Japan 0.88 0.90 2
    China 2.16 2.16 0
    India 6.85 6.86 1

    Source: Bloomberg, Bank of Baroda Research


    Fig 4 – Short term rates

      22-08-2024 23-08-2024 Change in bps
    Tbill-91 days 6.62 6.62 0
    Tbill-182 days 6.71 6.71 0
    Tbill-364 days 6.71 6.71 0
    G-Sec 2Y 6.75 6.77 2
    India OIS-2M 6.60 6.59 (1)
    India OIS-9M 6.54 6.56 1
    SONIA int rate benchmark 4.95 4.95 0
    US SOFR 5.31 5.31 0

    Source: Bloomberg, Bank of Baroda Research


    Fig 5 – Liquidity

      22-08-2024 23-08-2024 Change (Rs tn)
    Net Liquidity (-Surplus/+deficit) (1.0) (1.0) 0
    Reverse Repo 0.4 0 (0.4)
    Repo 0 0 0

    Source: RBI, Bank of Baroda Research


    Fig 6 – Capital market flows

      21-08-2024 22-08-2024 Change (US$ mn/Rs cr)
    FII (US$ mn) (3.3) (1.7) 1.7
    Debt 48.0 (222.3) (270.3)
    Equity (51.3) 220.6 271.9
    Mutual funds (Rs cr) 190.4 (559.5) (749.8)
    Debt (1,305.0) (3,235.0) (1,929.9)
    Equity 1,495.4 2,675.5 1,180.1

    Source: Bloomberg, Bank of Baroda Research │Note: Data for Mutual Funds as of 19 Aug and 20 Aug 2024


    Oil prices rose due to escalated geopolitical tensions in the Middle East.

    Fig 7 – Commodities

      22-08-2024 23-08-2024 Change, %
    Brent crude (US$/bbl) 77.2 79.0 2.3
    Gold (US$/ Troy Ounce) 2,484.8 2,512.6 1.1
    Copper (US$/ MT) 9,010.3 9,173.4 1.8
    Zinc (US$/MT) 2,817.4 2,868.0 1.8
    Aluminium (US$/MT) 2,480.0 2,542.0 2.5

    Source: Bloomberg, Bank of Baroda Research

  • 27 Aug 2024

    In the US, new orders for durable goods surged by 9.9% in Jul’24 (highest in 4- years) on a MoM basis after declining by (-) 6.9% in Jun’24. This was largely attributed to jump in transportation equipment (up by 34.8%). Excluding the transportation sector, the new orders were up by 0.2% in Jul’24 (0.1% in Jun’24). Notably the core-capital goods orders declined at a much slower pace (-0.1% from - 0.4%). Separately, China’s industrial profits rose at a much faster pace by 4.1% in Jul’24 period from 3.6% in Jun’24 period. For the period between Jan-Jul’24, profits expanded by 3.6% (from 3.5%) to 4.1tn Yuan (US$ 751bn) led by high–tech manufacturing sector and the making of lithium ion batteries and semiconductors


    Global indices ended mixed. The S&P 500 finished in the red ahead of key inflation data and earnings reports. Out of 11 indices, 6 declined, with sharp losses noted in the IT and consumer sectors. The Nikkei was down by 0.7%, while the Hang Seng jumped by 1.1%. The Sensex climbed up by 0.8%, led by gains in metal and real estate stocks. It is trading higher today, while other Asian stocks are trading lower.

    Fig 1 – Stock markets

      23-08-2024 26-08-2024 Change, %
    Dow Jones 41,175 41,241 0.2
    S & P 500 5,635 5,617 (0.3)
    FTSE 8,288 8,328 0.5
    Nikkei 38,364 38,110 (0.7)
    Hang Seng 17,612 17,799 1.1
    Shanghai Comp 2,854 2,856 0
    Sensex 81,086 81,698 0.8
    Nifty 24,823 25,011 0.8

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24


    Global currencies ended lower or flat against the US$. The DXY rose by 0.1%, as the latest US macro data dampened hopes of a large rate cut by the Fed in Sep’24. The EUR and JPY depreciated the most, with continuously weakening economic sentiment in Germany (IFO) remaining a concern for the Euro. The INR ended flat, tracking the rise in oil prices, and is trading lower today, in line with other Asian currencies.

    Fig 2 – Currencies

      23-08-2024 26-08-2024 Change, %
    EUR/USD (1 EUR / USD) 1.1192 1.1161 (0.3)
    GBP/USD (1 GBP / USD) 1.3091 1.3214 0.9
    USD/JPY (JPY / 1 USD) 144.37 144.53 (0.1)
    USD/INR (INR / 1 USD) 83.90 83.90 0
    USD/CNY (CNY / 1 USD) 7.1209 7.1220 0

    Source: Bloomberg, Bank of Baroda
    Note: UK markets were closed on 26.8.24


    Global yields closed mixed. 10Y yields in US and Germany rose by 2bps each, while it fell in Japan and India. Surprise jump in US durable goods orders, along with risks to oil prices due to escalated tensions in the Middle East, impacted investor sentiments. India’s 10Y yield fell by 1bps. However, following global cues, it is trading slightly higher today at 6.86%.

    Fig 3 – Bond 10Y yield

      23-08-2024 26-08-2024 Change, bps
    US 3.80 3.82 2
    UK 3.96 3.91 (5)
    Germany 2.23 2.25 2
    Japan 0.90 0.89 (1)
    China 2.16 2.16 0
    India 6.86 6.85 (1)

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24


    Fig 4 – Short term rates

      23-08-2024 26-08-2024 Change in bps
    Tbill-91 days 6.62 6.62 0
    Tbill-182 days 6.71 6.70 (1)
    Tbill-364 days 6.71 6.71 0
    G-Sec 2Y 6.77 6.76 (1)
    India OIS-2M 6.59 6.59 0
    India OIS-9M 6.56 6.52 (4)
    SONIA int rate benchmark 4.95 4.95 0
    US SOFR 5.31 5.33 2

    Source: Bloomberg, Bank of Baroda Research


    Fig 5 – Liquidity

      23-08-2024 26-08-2024 Change (Rs tn)
    Net Liquidity (-Surplus/+deficit) (1.0) (0.8) 0.2
    Reverse Repo 0 0.2 0.2
    Repo 0 0 0

    Source: RBI, Bank of Baroda Research


    Fig 6 – Capital market flows

      22-08-2024 23-08-2024 Change (US$ mn/Rs cr)
    FII (US$ mn) (1.7) 643.8 645.4
    Debt (222.3) 180.9 403.2
    Equity 220.6 462.8 242.2
    Mutual funds (Rs cr) (559.5) (1,712.7) (1,153.2)
    Debt (3,235.0) (4,852.7) (1,617.8)
    Equity 2,675.5 3,140.1 464.6

    Source: Bloomberg, Bank of Baroda Research
    Note: Data for Mutual Funds as of 20 Aug and 21 Aug 2024


    Oil prices rose amidst ongoing geopolitical tensions and Libya’s threat to halt output.

    Fig 7 – Commodities

      23-08-2024 26-08-2024 % Change
    Brent crude (US$/bbl) 79.0 81.4 3.0
    Gold (US$/ Troy Ounce) 2,512.6 2,518.0 0.2
    Copper (US$/ MT) 9,010.3 9,173.4 1.8
    Zinc (US$/MT) 2,817.4 2,868.0 1.8
    Aluminium (US$/MT) 2,480.0 2,542.0 2.5

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24

  • 28 Aug 2024

    According to the Conference Board, consumer confidence index in the US scaled up to 103.3 in Aug’24 (highest level in 6-months) from 101.9 in Jul’24. The better than expected reading reflected consumers’ optimism about the current condition and future economic outlook, with the survey suggesting that the odds of recession continue to fall. However, consumers were relatively less confident about the job market with the labour market differential dropping down to 16.4 in Aug’24. Separately, inflation in Australia eased to 3.5% in Jul’24 (lowest since Mar’24) from 3.8% in Jun’24. The moderation was led by housing (6.9% from 7.1%), transport (3.4% form 4.2%).In Japan, Deputy Governor of BoJ noted that they will closely monitor financial market and continue with raising rates given inflation stayed on course.


    Fig 1 – Stock markets

      26-08-2024 27-08-2024 Change, %
    Dow Jones 41,241 41,251 0
    S & P 500 5,617 5,626 0.2
    FTSE 8,328 8,345 0.2
    Nikkei 38,110 38,289 0.5
    Hang Seng 17,799 17,875 0.4
    Shanghai Comp 2,856 2,849 (0.2)
    Sensex 81,698 81,712 0
    Nifty 25,011 25,018 0

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24


    Fig 2 – Currencies

      26-08-2024 27-08-2024 Change, %
    EUR/USD (1 EUR / USD) 1.1161 1.1184 0.2
    GBP/USD (1 GBP / USD) 1.3214 1.3261 0.4
    USD/JPY (JPY / 1 USD) 144.53 143.96 0.4
    USD/INR (INR / 1 USD) 83.90 83.93 0
    USD/CNY (CNY / 1 USD) 7.1220 7.1238 0

    Source: Bloomberg, Bank of Baroda
    Note: UK markets were closed on 26.8.24

    Fig 3 – Bond 10Y yield

      26-08-2024 27-08-2024 Change, bps
    US 3.82 3.82 1
    UK 3.91 4.00 9
    Germany 2.25 2.29 4
    Japan 0.89 0.88 (1)
    China 2.16 2.19 2
    India 6.85 6.86 1

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24


    Fig 4 – Short term rates

      26-08-2024 27-08-2024 Change in bps
    Tbill-91 days 6.62 6.61 (1)
    Tbill-182 days 6.70 6.70 0
    Tbill-364 days 6.71 6.70 (1)
    G-Sec 2Y 6.76 6.76 0
    India OIS-2M 6.59 6.59 0
    India OIS-9M 6.52 6.53 1
    SONIA int rate benchmark 4.95 4.95 0
    US SOFR 5.33 5.34 1

    Source: Bloomberg, Bank of Baroda Research


    Fig 5 – Liquidity

      26-08-2024 27-08-2024 Change (Rs tn)
    Net Liquidity (-Surplus/+deficit) (0.8) (1.0) (0.2)
    Reverse Repo 0.2 0.5 0.3
    Repo 0 0 0

    Source: RBI, Bank of Baroda Research


    Fig 6 – Capital market flows

      23-08-2024 26-08-2024 Change (US$ mn/Rs cr)
    FII (US$ mn) 643.8 359.7 (284.1)
    Debt 180.9 244.1 63.2
    Equity 462.8 115.6 (347.2)
    Mutual funds (Rs cr) (1,712.7) 2,962.9 4,675.6
    Debt (4,852.7) (131.3) 4,721.4
    Equity 3,140.1 3,094.2 (45.8)

    Source: Bloomberg, Bank of Baroda Research
    Note: Data for Mutual Funds as of 21 Aug and 22 Aug 2024


    Fig 7 – Commodities

      26-08-2024 27-08-2024 Change, %
    Brent crude (US$/bbl) 81.4 79.6 (2.3)
    Gold (US$/ Troy Ounce) 2,518.0 2,524.6 0.3
    Copper (US$/ MT) 9,173.4 9,326.5 1.7
    Zinc (US$/MT) 2,868.0 2,895.5 1.0
    Aluminium (US$/MT) 2,542.0 2,549.5 0.3

    Source: Bloomberg, Bank of Baroda Research
    Note: UK markets were closed on 26.8.24

  • 29 Aug 2024

    The US Fed official Bostic, in his remarks noted that its ‘time to move’ on rate cuts, however he was cautious and stated he will closely monitor the upcoming jobs and inflation reports before moving ahead with any decision. Separately, business confidence in New Zealand accelerated to a decade high to 50.6 in Aug’24 from 27.1 in Jul’24. The activity index also jumped to 7-year high to 37.1 (previously 16.3). In Israel, the Central Bank maintained status quo on rates for the 5th straight month at 4.5%. Investors will await US GDP print, weekly jobless claims data, along with PCE data. Additionally, inflation reading from Eurozone will offer more guidance on interest rate outlook


    Fig 1 – Stock markets

      27-08-2024 28-08-2024 Change, %
    Dow Jones 41,251 41,091 (0.4)
    S & P 500 5,626 5,592 (0.6)
    FTSE 8,345 8,344 0
    Nikkei 38,289 38,372 0.2
    Hang Seng 17,875 17,692 (1.0)
    Shanghai Comp 2,849 2,837 (0.4)
    Sensex 81,712 81,786 0.1
    Nifty 25,018 25,052 0.1

    Source: Bloomberg, Bank of Baroda Research


    Fig 2 – Currencies

      27-08-2024 28-08-2024 Change, %
    EUR/USD (1 EUR / USD) 1.1184 1.1120 (0.6)
    GBP/USD (1 GBP / USD) 1.3261 1.3191 (0.5)
    USD/JPY (JPY / 1 USD) 143.96 144.59 (0.4)
    USD/INR (INR / 1 USD) 83.93 83.96 0
    USD/CNY (CNY / 1 USD) 7.1238 7.1279 (0.1)

    Source: Bloomberg, Bank of Baroda


    Fig 3 – Bond 10Y yield

      27-08-2024 28-08-2024 Change, bps
    US 3.82 3.83 1
    UK 4.00 4.00 0
    Germany 2.29 2.26 (3)
    Japan 0.88 0.90 2
    China 2.19 2.18 (1)
    India 6.86 6.86 0

    Source: Bloomberg, Bank of Baroda Research


    Fig 4 – Short term rates

      27-08-2024 28-08-2024 Change in bps
    Tbill-91 days 6.61 6.63 2
    Tbill-182 days 6.70 6.72 2
    Tbill-364 days 6.70 6.72 2
    G-Sec 2Y 6.76 6.76 0
    India OIS-2M 6.59 6.59 0
    India OIS-9M 6.53 6.53 0
    SONIA int rate benchmark 4.95 4.95 0
    US SOFR 5.34 5.35 1

    Source: Bloomberg, Bank of Baroda Research


    Fig 5 – Liquidity

      27-08-2024 28-08-2024 Change (Rs tn)
    Net Liquidity (-Surplus/+deficit) (1.0) (0.9) 0.1
    Reverse Repo 0.5 0.5 0
    Repo 0 0 0

    Source: RBI, Bank of Baroda Research


    Fig 6 – Capital market flows

      26-08-2024 27-08-2024 Change (US$ mn/Rs cr)
    FII (US$ mn) 359.7 655.3 295.6
    Debt 244.1 84.1 (160.0)
    Equity 115.6 571.2 455.6
    Mutual funds (Rs cr) (1,029.3) 1,076.0 2,105.3
    Debt (3,094.8) (931.9) 2,162.9
    Equity 2,065.5 2,007.9 (57.6)

    Source: Bloomberg, Bank of Baroda Research │ Note: Data for Mutual Funds as of 23 Aug and 26 Aug 2024


    Fig 7 – Commodities

      27-08-2024 28-08-2024 % Change
    Brent crude (US$/bbl) 79.6 78.7 (1.1)
    Gold (US$/ Troy Ounce) 2,524.6 2,504.6 (0.8)
    Copper (US$/ MT) 9,326.5 9,130.0 (2.1)
    Zinc (US$/MT) 2,895.5 2,829.7 (2.3)
    Aluminium (US$/MT) 2,549.5 2,496.0 (2.1)

    Source: Bloomberg, Bank of Baroda Research

  • 30 Aug 2024

    US economy rose at a much faster pace than anticipated with the GDP growth for Q2 revised upwards to 3% (previously 2.8%) from 1.4% in Q1 led by robust consumer spending which accounts for 2/3 rd of the economy. Additionally, weekly jobless claims dropped down to 231k for week ending 24 Aug and have retreated back from 11-month high claims noted in Jul’24. The data has tempered down expectation of 50bps rate cuts by Fed in the upcoming meet. Separately in Japan, core inflation for Tokyo accelerated to 2.4% in Aug’24 from 2.2% in Jul’24. Inflation continues to remain above the 2% central bank target and thereby raising the possibility of more rate hikes in the coming months. On domestic front, India’s GDP print for Q1FY25 (our expectation is 7.3%), core, fiscal and sectoral bank credit data is due to release later today.


    Fig 1 – Stock markets

      28-08-2024 29-08-2024 Change, %
    Dow Jones 41,091 41,335 0.6
    S & P 500 5,592 5,592 0
    FTSE 8,344 8,380 0.4
    Nikkei 38,372 38,363 0
    Hang Seng 17,692 17,786 0.5
    Shanghai Comp 2,837 2,823 (0.5)
    Sensex 81,786 82,135 0.4
    Nifty 25,052 25,152 0.4

    Source: Bloomberg, Bank of Baroda Research


    Fig 2 – Currencies

      28-08-2024 29-08-2024 Change, %
    EUR/USD (1 EUR / USD) 1.1120 1.1077 (0.4)
    GBP/USD (1 GBP / USD) 1.3191 1.3168 (0.2)
    USD/JPY (JPY / 1 USD) 144.59 144.99 (0.3)
    USD/INR (INR / 1 USD) 83.96 83.87 0.1
    USD/CNY (CNY / 1 USD) 7.1279 7.0970 0.4

    Source: Bloomberg, Bank of Baroda


    Fig 3 – Bond 10Y Yield

      28-08-2024 29-08-2024 Change, bps
    US 3.83 3.86 3
    UK 4.00 4.02 2
    Germany 2.26 2.27 1
    Japan 0.90 0.90 0
    China 2.18 2.17 (1)
    India 6.86 6.86 0

    Source: Bloomberg, Bank of Baroda Research


    Fig 4 – Short Term Rates

      28-08-2024 29-08-2024 Change in bps
    Tbill-91 days 6.63 6.62 (1)
    Tbill-182 days 6.72 6.69 (3)
    Tbill-364 days 6.72 6.70 (2)
    G-Sec 2Y 6.76 6.76 0
    India OIS-2M 6.59 6.60 1
    India OIS-9M 6.53 6.53 0
    SONIA int rate benchmark 4.95 4.95 0
    US SOFR 5.35 5.35 0

    Source: Bloomberg, Bank of Baroda Research


    Fig 5 – Liquidity

      28-08-2024 29-08-2024 Change (Rs tn)
    Net Liquidity (-Surplus/+deficit) (0.9) (1.0) (0.1)
    Reverse Repo 0.5 0.6 0.1
    Repo 0 0 0

    Source: RBI, Bank of Baroda Research


    Fig 6 – Capital Market Flows

      27-08-2024 28-08-2024 Change (US$ mn/Rs cr)
    FII (US$ mn) 655.3 182.6 (472.7)
    Debt 84.1 247.9 163.7
    Equity 571.2 (65.3) (636.4)
    Mutual funds (Rs cr) 1,076.0 (1,361.1) (2,437.1)
    Debt (931.9) (1,627.2) (695.3)
    Equity 2,007.9 266.1 (1,741.8)

    Source: Bloomberg, Bank of Baroda Research │Note: Data for Mutual Funds as of 26 Aug and 27 Aug 2024


    Fig 7 – Commodities

      28-08-2024 29-08-2024 % Change
    Brent crude (US$/bbl) 78.7 79.9 1.6
    Gold (US$/ Troy Ounce) 2,504.6 2,521.4 0.7
    Copper (US$/ MT) 9,130.0 9,125.6 0
    Zinc (US$/MT) 2,829.7 2,828.2 (0.1)
    Aluminium (US$/MT) 2,496.0 2,457.5 (1.5)

    Source: Bloomberg, Bank of Baroda Research

Economics Scenario

@2024 Bank of Baroda. All rights reserved

Important disclosures are provided at the end of this report.

Disclaimer

The views expressed in this research note are personal views of the author(s) and do not necessarily reflect the views of Bank of Baroda. Nothing contained in this publication shall constitute or be deemed to constitute an offer to sell/ purchase or as an invitation or solicitation to do so for any securities of any entity. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. Bank of Baroda Group or its officers, employees, personnel, directors may be associated in a commercial or personal capacity or may have a commercial interest including as proprietary traders in or with the securities and/ or companies or issues or matters as contained in this publication and such commercial capacity or interest whether or not differing with or conflicting with this publication, shall not make or render Bank of Baroda Group liable in any manner whatsoever & Bank of Baroda Group or any of its officers, employees, personnel, directors shall not be liable for any loss, damage, liability whatsoever for any direct or indirect loss arising from the use or access of any information that may be displayed in this publication from time to time

Connect with Us

For further details about this publication, please contact:
Economics Research Department
Bank of Baroda
+91 22 6698 5794
chief.economist@bankofbaroda.com

Popular Articles

Related Articles

  • Disclaimer

    The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

Economic Weekly Wrap
02 September 2024 - 06 September 2024

Economic Weekly Wrap
19 August 2024 - 23 August 2024

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.


The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.


Proceed to the website


Thank you for visiting www.bankofbaroda.in

X
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.