Bank of Baroda debuts on social media after 'Rs 6100-crore scam' image

The state-owned Bank of Baroda has entered the social media space by launching its Facebook page and Twitter handle as part of its efforts to restore its image that has been hit by the alleged Rs 6,100-crore remittance scam.

An unaccounted Rs 6,172 crore was purported to have been remitted from a Delhi branch of Bank of Baroda to Hong Kong camouflaged as payments for non-existent imports such as cashew, pulses and rice. The alleged scam came to light in October 2015.

BoB will be available on Facebook and Twitter and its presence will extend to other social marketing mediums in due course, BoB said in a statement.

Social media is increasingly becoming an important mode of communication and influence, it said.