Bank of Baroda, a major public sector bank, has announced that it will be closing its Al Ain branch in the UAE from March 22, 2023. The decision was made as a part of a business strategy, and approval has been granted by the Central Bank of the UAE. Customers were informed of the decision in a notice issued on January 20, 2023.
To ensure a smooth transition, all accounts held in the Al Ain branch will be transferred to the Abu Dhabi branch. Customers who wish to close their accounts before March 22, 2023, will not be charged any penalty.
The bank was compelled to issue a statement due to a viral social media post depicting long queues outside the Al Ain branch. The post suggested that the queues were caused by the bank's CEO, Sanjeev Chadha, announcing that Bank of Baroda would continue to provide loans to the Adani group.
In response, the bank clarified that the closure of the Al Ain branch was the reason for the long queues. The bank urged the public not to believe any false or misleading information spread on social media.
Bank of Baroda has reassured its customers that it is committed to providing uninterrupted services.
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