Bank of Baroda has announced the appointment of Mr. Rakesh Nema as Chief General Manager (CGM) and Chief Technology Officer (CTO), based at its Baroda Corporate Centre, Mumbai. The appointment took effect on 05 August 2026, as per the date of orders. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, notifying stock exchanges of a change in Key Managerial Personnel (KMP) of the bank.

Appointment Details

The following table summarises the key details of the appointment as disclosed by the bank:

Profile of the Appointee

Mr. Rakesh Nema holds a Master's degree in Science and a Post Graduate Diploma in Computer Applications. He brings over 25 years of experience within Bank of Baroda, reflecting a deep institutional understanding of the bank's operations and technology landscape.

Regulatory Disclosure

The intimation was submitted to both BSE Ltd. and the National Stock Exchange of India Ltd. by S. Balakumar, Company Secretary of Bank of Baroda, in compliance with applicable SEBI listing regulations. The bank has requested both exchanges to take note of the change and upload the information on their respective websites.

Bank of Baroda will hold a Capital Raising Committee (CRC) meeting on August 7, 2026, at 11:00 AM to decide on the issuance of Additional Tier 1 (AT1) and Tier II bonds. The meeting aims to operationalize the capital raising strategy previously sanctioned by the Board of Directors, which is critical for strengthening the bank's regulatory capital base.

The Board of Directors approved the raising of additional capital up to ₹6,000 crore during its meeting held on May 8, 2026. This approval allows the bank to issue AT1 and/or Tier II bonds in suitable tranches up to March 31, 2027, and beyond, if found expedient. The CRC meeting serves as the next procedural step to finalize the specifics of the issuance, including the tranche size and timing.

The bank notified the stock exchanges under Regulation 29(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The intimation was dispatched to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd. (NSE) on August 4, 2026, signed by S Balakumar, Company Secretary.

Key Details of the Capital Raising Plan

What the Numbers Show

The approval of a ₹6,000 crore capital raising window indicates a proactive approach by Bank of Baroda to manage its capital adequacy ratios ahead of potential asset growth or regulatory requirements. By structuring the issuance in tranches up to March 31, 2027, and retaining the option to extend beyond this date, the bank maintains flexibility to respond to market conditions. The decision to consider both AT1 and Tier II instruments suggests a balanced strategy to optimize the cost of capital while adhering to Basel III norms. The specific mix between AT1 and Tier II bonds will likely be determined by current market spreads and investor demand at the time of issuance.