Bank of Baroda plans to sell its majority stake in Nainital Bank

Bank of Baroda (BoB) said it plans to sell its majority stake in Nainital Bank Limited (NBL). The BoB board approved sale of its 98.57% stake in NBL, according to an exchange filing. The board also authorised the issuance of an advertisement inviting Expressions of Interest through a Preliminary Information Memorandum from interested parties to acquire a majority stake.