Bank of Baroda said on October 26, 2026, that its wholly owned subsidiary, bob Securities & Giltedge Ltd, had commenced business as a non-deposit-taking non-banking financial company. The standalone primary dealer subsidiary expands the public sector bank’s presence in government securities and debt capital markets.

Bank of Baroda builds specialised debt-market capabilities

The bank described the launch as part of its strategy to develop specialised capabilities, build scale across businesses and diversify the group’s financial services operations. The new company’s non-deposit-taking status distinguishes its business from the parent bank’s deposit-taking operations.

The subsidiary is headed by M. Anil, who has more than 26 years of banking and financial services experience. His background includes treasury, financial markets, credit, corporate finance and strategic planning, as well as senior regional leadership roles at Bank of Baroda.

Market-making and retail participation are stated priorities

Debadatta Chand, Bank of Baroda’s managing director and chief executive, said the company would support the development of India’s financial markets through market-making and related activities. He identified greater market efficiency and wider investor participation, including through RBI Retail Direct, as intended benefits rather than reported outcomes.

The RBI Retail Direct scheme allows individual investors to open gilt accounts with the Reserve Bank of India and buy government securities at primary auctions or trade them in the secondary market. That framework explains the retail-access channel Chand highlighted; it does not itself establish the new subsidiary’s activities on the platform.

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