Git repository backup and bundler

git-backup.bash

#!/bin/bash

repolist="$1"

while IFS='' read -r repo || [[ -n "$repo" ]]; do
    local_dir=$(basename "$repo")
    if [ -e "$local_dir" ]; then
        echo "Repo exists, updating $local_dir..."
        git --git-dir $local_dir remote update
    else
        echo "Cloning $repo..."
        git clone --mirror "$repo"
    fi
    echo "Bundling repository..."
    date=$(date "+%Y-%m-%d")
    local_bak=$local_dir"-"$date".bundle"
    echo $local_bak
    git --git-dir $local_dir bundle create $local_bak --all

done < "$repolist"