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MOTILAL NEH

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CERTIFICATE:

Date: 9 July 2010

This is to certify that Miss Binita Kumari (registration no .2009mb11) , MBA Second Semester , has completed his Summer Training Project Titled “MARKETING STRATEGY OF THIRD PARTY IN GENERAL AND NON LIFE IN PARTICULAR PRODUCTS “from Bank of Baroda , Allahabad , in partial fulfillment of MBA program under the been submitted anywhere in anywhere in any manner . Guidance of the undersigned . The work is originally and has not

been submitted anywhere in any manner.

Mr. R.K .VIJAY (D.R.M) Bank of Baroda Project guide

Sanjeev Anand & Ikramul Haq (Marketing deptt)

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This project was done under the able guidance and supervision of Mr. I also declare that this project is the result of my own efforts and has not been submitted to any other institution for the award of any Degree or Diploma. R K VIJAY Dy Regional Manager. This report is submitted as partial fulfillment of the requirement of MBA Program of SMS MNNIT ALLAHABAD. 4 .DECLARATION: I hereby declare that this report on “MARKETING STRATEGY OF THRD PARTY IN GENERAL AND NON LIFE PARTICULAR” has been written and prepared by me during the academic year 2010-11. Bank of Baroda Allahabad.

S.NO 1 2 3 4 ACKNOWLEDGEMENT EXECUTIVE SUMMARY CONTENT PAGE NO INTRDUCTION BANKING IN INDIA 5 COMPANY PROFILE 6 ORGANISATION HIERARCHY IN BANK OF BARODA 7 8 9 10 PRODUCT & SERVICES OFFERED BY BANK OF BARODA BRIEF STUDY OF INSURANCE MARKETING STRATEGY OF THIRD PARTY IN GENERAL AND NON LIFE IN PARTICULARS COMPANY PROFILE OF INDIAFIRST LIFE INSURANCE 11 COMPANY PROFILE OF NICL WHICH HAVE TIE UP WITH BARODA HEALTH ANALYSIS OF QUESTIONNAIRE 12 13 14 15 16 FINDINGS SUGGESSTION LIMITATION REFERENCES 5 .

R.VIJAY (D. I also express my gratitude to Prof. fill the questionnaires and answer my queries. Mr. Lastly I take this opportunity to my friends. I would like to thank the entire respondent who took out from their busy schedules to interact with me. and for providing me the necessary facts and data relevant to this study. I would like to present this project report to BANK OF BARODA.REGIONAL OFFICE ALLAHABAD.R. It has been an enriching experience for me to undergo my summer training at BANK OF BARODA.M) of BANK OF BARODA for giving me this opportunity to take up this project I wish to record my deep sense of gratitude and profound thanks to my company guide. I take this opportunity to thank all those who have helped and inspired me during the course of my project which the successful completion of project would not have been possible.ACKNOWLEDGEMENT: With immense pleasure. I thank the Almighty God for helping me to complete this work successfully. SANJEEV ANAND and Mr.K. 6 . I am thankful to my parents for their unfailing support and warm wishes. IKRAMUL HAQ for his valuable guidance throughout this project. GEETIKA (HOD) my faculty guide at SMS MNNIT ALLAHABAD who has been a constant source of encouragement to me and has been instrumental in bringing about the successful completion of this project. I am thankful to all the employees of BANK OF BARODA. ALLAHABAD for their help and suggestions in conducting this study. who chipped-in with some valuable suggestions for the betterment of this project. And above all. I sincerely thank Mr.

This help in creating managers who are well equipped with the experience of linking the theoretical inputs with those of practical environment. OBJECTIVE OF THE STUDY: 7 . I have learned a lot regarding the working of banks related to mentoring and noticed various problems which they face and are still facing during mentoring period . have experienced the heat of work for more than six weeks and it was really a great exposure in the corporate world.I was given a project on Marketing Strategy of Third Party in General & Non Life in Particular”.In partial fulfillment of MBA degree of MNNIT ALLAHABAD. the purpose of this internship is to enable the students to appreciate and understand the nuances of practical world vis –a-vis the theoretical input administered during regular academic session. it was really great working with this prestigious organization of Bank of Baroda. I was given a project on “”.EXECUTIVE SUMMARY: The MBA course offered by MOTILAL NEHRU NATIONAL INSTITUTE OF TECHNOLOGY . ALLAHABAD has its own unique syllabus which require its students to undertake any internship with any of the leading business houses for a period ranging from 6-8 weeks at the end of the second semester .

For this study . Exploratory research helps determine the best research design. • • • • • • RESEARCH METHODOLOGY: SOURCES OF DATA: The study is based on both primary & secondary data. the primary data has been collected with the help of the following two methods: (1) Personal interview (2) Questionnaire  Secondary data is second hand data or information that has already been collected by someone else for a different purpose.• To study the customer of BANK OF BARODA. To suggest measures that can help Indiafirst insurance to capture the market as soon as possible To find out are they have awareness about insurance policy provide by bank of baroda. or qualitative approaches such as informal discussion with employees mentors. data collection mehod and selection of subjects. 8 . Exploratory research is a type of research conducted because a problem has not been clearly defined. management or competitors.  Primary data is the data that is collected personally. To know about the how many people have knowledge about insurance To know about marketing strategy of INDIAFIRST life insurance To find out the problems which they had or still facing from insurance service provide by BANK OF BARODA. and is first hand as well as unique in nature. For this study . Exploratory research often relies on secondary research such as reviewing available literature and/or data. Are they satisfy by the plan of Indiafirst insurance. the secondary data has been collected through:       Books Magazines Newspapers Circulars In-house journals Internet The exploratory research method has been adopted for study.

9 . without involving any real population . Random sampling all members of the population have an equa chance of being selected as part of the sample. A radom sampling refers to taking a number of independent observations from the same probability distribution . designed to gather as much relevant data as possible from the respondents. It is an integral part of the research design. being similar and representative of whole. The sample design of a sample survey refers to the techniques for selecting a probability sample and methods to obtain estimates of the survey variables from the selected sample. These questionnaire are:  Questionnaire.RESEARCH INSTRUMENTS. Sampling Frame: The sampling frame for the research includes new employees and mentors of some of private sectoe and public sector banks. There are two different sets of questionnaires. Type Of Sample The type sampling choosen for the project are convenience sampling and random sampling. Target Population: It includes the new entrants/employees of the bank of baroda and some other private and public sector banks who were mentored. SAMPLE DESIGN: Sample refers to small part or subset of the total population. The data collection instruments used for this study are personal (unstructured) interviews and questionnaires.

No 1 M.Sample Size: Total sample size for the research is 120.Marg 2 Katra Location No of customer covered 20 20 20 3 RAS Ashok Nagar 4 20 Bahadurganj 20 5 Kydganj 10 . S.G.

which. The Bank of Bengal. with some of its assets and liabilities b Foreign banks too started to arrive.INTRODUCTION: Banking in India originated in the last decades of the 18th century. then a French colony. and which survived until 1913. the other two being the Bank of Bombay and the Bank of Madras. The three banks merged in 1921 to form the Imperial Bank of India. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860. but it failed in 1848 as a consequence of the economic crisis of 1848-49. followed. . which later merged with the Bank of Bombay and the Bank of Madras to form the Imperial Bank of India in 1921. is the oldest Joint Stock bank in India. particularly in Calcutta. Indian merchants in Calcutta established the Union Bank in 1839. The period between 1906 and 1911 a number of banks established then have survived to the present such as Bank of India. India's independence marked the end of a regime of the Laissez-faire for the Indian banking. and the Industrial Policy Resolution adopted by the government in 1948 envisaged a mixed economy. paralyzing banking activities for months. Indian Bank. Being transferred to the Alliance Bank of Simla. mainly due to the trade of the British Empire. branches in Madras and Pondichery. and so became a banking center. and the Bank of Hindustan. That honor belongs to the Bank of Upper India. The partition of India in 1947 adversely impacted the economies of Punjab and West Bengal. as did their successors. both of which are now defunct. Bank of Baroda. Calcutta was the most active trading port in India. which almost immediately became the Bank of Bengal. which originated in the Bank of Calcutta in June 1806. upon India's independence. The first banks were The General Bank of India which started in 1786. Corporation Bank. This resulted into greater involvement of the 11 . HSBC established itself in Bengal in 1869. The Allahabad Bank. The oldest bank in existence in India is the State Bank of India. established in 1865 and still functioning today. all three of which were established under charters from the British East India Company. Canara Bank and Central Bank of India. The Government of India initiated measures to play an active role in the economic life of the nation. and another in Bombay in 1862. For many years the Presidency banks acted as quasicentral banks. in the 1860s. which was established in 1863.(Joint Stock Bank. when it failed. became the State Bank of India. This was one of the three presidency banks.

the nationalised banks grew at a pace of around 4%. However. licensing a small number of private banks. Thereafter. Jayaprakash Narayan. The stated reason for the nationalization was to give the government more control of credit delivery. and it became Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate. control and regulations. it had emerged as a large employer. 1948 (RBI. a national leader of India. and it received the presidential approval on 9 August 1969. the Reserve Bank of India. Indira Gandhi." Within two weeks of the issue of the ordinance. 1969. After this. These came to be known as New Generation techsavvy banks. NATIONALISATION : The RBI was nationalized on January 1. until the 1990s. and inspect the banks in India. was nationalized. control. 1949 in terms of the Reserve Bank of India (Transfer to Public Ownership) Act. At the same time. The paper was received with positive enthusiasm. the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill. banks in India except the State Bank of India. the GOI controlled around 91% of the banking business of India.state in different segments of the economy including banking and finance. India's central banking authority. and the GOI issued an ordinance and nationalised the 14 largest commercial banks with effect from the midnight of July 19. described the step as a "masterstroke of political sagacity. her move was swift and sudden. With the second dose of nationalization. Liberalization: In the early 1990s. closer to the average growth rate of the Indian economy. The major steps to regulate banking included: In 1949. the then Narsimha Rao government embarked on a policy of liberalization." • The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI. A second dose of nationalization of 6 more commercial banks followed in 1980. By the 1960s the Indian banking industry had become an important tool to facilitate the development of the Indian economy. the In 1948. despite these provisions. continued to be owned and operated by private persons. and no two banks could have common directors. and a debate had ensued about the possibility to nationalise the banking industry. This changed with the nationalization of major banks in India on 19 July 1969. and included Global Trust Bank (the first of such new generation banks to be set 12 . thethen Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation.

revitalized the banking sector in India. which has seen rapid growth with strong contribution from all the three sectors of banks. private banks and foreign banks.up).All this led to the retail boom in India. were used to the 4-6-4 method (Borrow at 4%.55% on 28th May. People not just demanded more from their banks but also received more. banking in India is generally fairly mature in terms of supply. In terms of quality of assets and capital adequacy.Go home at 4) of functioning.4% for the FY 2010 .at present it has gone up to 74% with some restrictions. The yields on the US Treasury also hardened. product range -even though reach in rural India still remains a challenge for the private sector and foreign banks. where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%. tax outflows and the weekly auction supply. • 10 year GOI Benchmark at 7.Lend at 6%.67% compared to 8. The hardening is due to the increase in yields in government securities and the impending liquidity shortage. Axis Bank(earlier as UTI Bank). ICICI Bank and HDFC Bank.helped by higher than expected growth from manufacturing and agriculture. which later amalgamated with Oriental Bank of Commerce. Bond market update 10 year benchmark G-sec at 7. Robust GDP growth of 7.18%.55% (17 bps hardening WoW) due to pressure of liquidity. till this time. GDP growth and inflation 13 . along with the rapid growth in the economy of India. This move. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. Bankers. government banks. The 1 year bond was stable at 6. Markets First 31st May. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment.60% observed in the previous week.65%. namely. 2010 Headlines • Equity benchmark indices recover lost ground with a 2. Corporate bonds yields range bound in view of ample liquidity The 10 year AAA bond traded at a yield of around 8.5% gain for the week on the back of short covering. Currently . The new policy shook the Banking sector in India completely. The AAA 5 year corporate bonds hardened to 8. 2010 (hardening of 17bps WoW) The yields on the G-sec started hardening in view of the impending liquidity shortage due to the 3G auction.

Foreign exchange reserves India's foreign exchange reserves for the week ended 21st May stood at $273.6%.0% in the first quarter of 2010 as against 3. In the fourth quarter of 2009.19% a week earlier . boosted by the economic stimulus.87bln.9% vis-à-vis 16.3% in the first quarter compared to an initial measurement of 0.05% taking the YoY inflation rate to 12. GDP in the UK rose by 0. The fuel and power index rose 0. 14 .  As per the Office for National Statistics. real GDP of the US increased at an annual rate of 3.4% for the FY 2010 was triggered by the higher than expected growth from manufacturing and agriculture. The primary articles inflation rate for the week ended 15th May stood at 15.The robust GDP growth of 7.the index declined by 0.1%.36 bln lower by $2. Global news update for bond markets  According to the 2nd estimate released by the Bureau of Economic Analysis.2% in the advance estimate. real GDP had increased 5.33% a week earlier.08% from 12.2% as rebounding investment and the biggest jump manufacturing for four years strengthened the recovery.

10 lacs. On 20th July 1908 Bank of Baroda Limited was registered under the Baroda Companies Act of 1897. with a paid up capital of Rs. Maharaj Sayajirao-III founded the Bank.“PASSION TO SERVE. 15 . eventful and glorious history of more than 101 years.The Bank made a humble beginning in 1908 in a small building in Baroda. HH Sir. PASSION TO PERFORM” COMPANY PROFILE Our Mission: BRIEF HISTORY : Bank of Baroda is having a long.

1958 Bank opened 30 new offices and had become an allIndia Bank. was nationalised on 19 July 1969. However. During 1953 . 2.27 lakh crores. by the Government of India. The bank. The Heritage It all started with a visionary Maharaja's uncanny foresight into the future of trade and enterprising in his country. it found a place in India’s ‘Fortune Five’ list of Banks. credit cards and asset management. At the time of independence in 1947.274 billion. along with 13 other major commercial banks of India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking. As many as nine banks have merged with Bank of Baroda during its journey so far: Hind Bank Ltd (1958) New Citizen Bank of India Ltd (1961) Surat Banking Corporation (1963) Tamil Nadu Central Bank (1964) Umbergaon People Bank (1964) Traders Bank Limited (1988) Bareilly Corporation Bank Ltd (1998) Benares State Bank Ltd (2002) South Gujarat Local Area Bank Ltd (2004). THE BANK OF BARODA 16 . after State Bank of India and Punjab National Bank and ahead of ICICI Bank. Maharajah of Baroda Sir Sayajirao Gaekwad III founded the bank on July 20. and about 1100+ ATMs. 2. or Rs. 1908 in the princely state of Baroda.In the year 1935 Bank became a scheduled Bank. Bank of Baroda (BSE: 532134) (BoB) (Hindi: बैक ऑफ बडौदा) is the 3rd largest bank in India. trustworthy financial body. Bank of Baroda was a regional bank with 48 branches. a network of over 3000 branches and offices. On 20th July 1908. under the Companies Act of 1897. RBI included the Bank in the second schedule of RBI and brought under direct control of RBI. in Gujarat. BoB has total assets in excess of Rs. and with a paid up capital of Rs 10 Lacs started the legend that has now translated into a strong.

This cardinal philosophy was over the century old existence. It is the single most powerful source of light and energy – its far reaching rays dispel darkness to illuminate everything they touch. industries and commerce of the State and adjoining territories. social pride and the vision of helping others grow.It has been a wisely orchestrated growth. and deposit of money and will be a powerful factor in the development of art. reliable partner who will help them 17 . the Bank of Baroda continued its triumphant march along the best ethical practices Our Logo: Our new logo is a unique representation of a universal symbol. saw "a bank of this nature will prove a beneficial agency for lending. The founder. The sun is an excellent representation of what our bank stands for. Even while big names were dragged into the Stock Market scam and the Capital Market scam. a safety cover for the depositor's money. as many as 87 banks failed in India. with a cogwheel that promotes industrial growth in tandem with the two corn ears that stand for the progress of the staple agricultural growth in the country. This emblem shows a coin. Maharaja Sayajirao Gaekwad. At Bank of Baroda. symbolizing wealth. we seek to be the source that will help all our stakeholders realise their goals. business prudence. we seek to be a one-stop. It comprises dual ‘B’ letterforms that hold the rays of the rising sun. The Ethics: Between 1913 and 1917. were to become the central philosophy around which business decisions would be effected. mainly due to its honest and prudent leadership. industrial development and an inclination to better and promote the country's agrarian economy. We call this the Baroda Sun. It ensured that the Bank survived the Great War years. the emblem has been crafted to represent wealth. To our customers. safety. body and soul of what has now become a banking legend. Following the Maharaja's words. and growing itself in turn. caution and an abiding care and concern for the hard earned savings of hard working people. Bank of Baroda survived the crisis. with his insight into the future. This financial integrity. involving corporate wisdom. It ensured survival during the Great Depression. transmission. embossed with an upraised palm. to become its biggest asset." These words are etched into the mind.

INITIAL EMBLEM: The emblem show a coin. credit cards and mutual funds. the move to become a one stop financial supermarket had been set in motion. for its distinctivenes as it stands for hope and energy. By adopting a symbol as simple and powerful as the Baroda Sun. Technology was adopted to add punch. we hope to communicate both. Marketing Initiatives The mid-eighties marked the beginning of the shift to a buyers` market. managerial and leadership skills. This has been historically demonstrated in its recruitment practices. The Bank provided around a dozen CEOs to the industry. The elaborate man management policies also made the Bank a breeding ground for business leaders. maximum return on their investment. Overseas operations were revamped and structural changes intensified in the territories to cater to second generation NRIs. gave the Bank competitive advantage. placement processes and promotion policies. The Baroda Sun is a fitting face for our brand because it is a universal symbol of dynamism and optimism – it is meaningful for our many audiences and easily decoded by all. It is a signal that we recognize and are prepared for new business paradigms in a globalised world. The single-colour. embossed with an an unpraised palm. Service delivery standards were stipulated. we will always stay in touch with our heritage and enduring relationships on which our bank is founded. The Bank orchestrated its business strategies around the centrality of the customer. People Initiatives Bank of Baroda has always had an immense faith in the infinite potential of its people. Employees across the board were inculcated with the marketing concept.men who went on to build other great 18 . It diversified into areas of merchant banking. To our employees. symboilizing wealth . Slowly but surely. we offer rewarding careers and to our investors and business partners. according cross border and cross cultural work exposure to its managers. At the same time.address different financial needs. a safety cover for the depositor’s money with a cogwheel that promotes industrial growth in tandem with the two corn ears that stan for the progress of the staple agriculture growth in the country . hiring diverse functional specialists to support line functionaries and complementing the technical competencies of its people by imparting conceptual. A string of segment specific branches entrenched operations in the profitable markets. housing finance. developmental initiatives. Strategic HR interventions like. Aggressive marketing became the new business philosophy. compelling vermillion palette has been carefully chosen.

where everyone prospered. At Bank of Baroda. The conversion to an IT savvy. has accentuated the need to initiate a major transformation program.'a promising future is the sequel to a glorious past'. the issue was over subscribed. more resilient and positioned to become India's first bank of truly global standards. The Future Revolutionary and discontinuous changes in the operating environment are a stark reminder that business success is 'impermanent'. Financial Initiatives New norms for capital adequacy required new capital management strategies. International Presence: In the year 1953. Towards creating a future Bank of Baroda. People initiatives were blended with IR initiatives to create an effectively harmonious workplace. to echo the same sentiments that guided the Bank in its platinum jubilee year .institutions. It has a beginning. is a true reflection of the Bank's resolve to move ahead of the times. Despite adverse market conditions prevailing then. It will be a long and difficult march. There will be no end. as it stands on the threshold of a digital era. the Bank has adopted a revolutionary new business strategy that will be enabled by a revolutionary new IT strategy. The emergence of IT as a major driver for change. taking a pioneering step. was the establishment of the Integrated Treasury branch. In 1996 the Bank tapped the capital market with an IPO of Rs 850 crores. In 1995 the Bank raised Rs 300 crores through a Bond issue.1953 followed by two other branches at Kampala and Nairobi. as a forerunner to full-fledged global treasury operations. It will not be out of place now. A major and strategic step in hi-tech. market driven bank will be a prerequisite to survival and growth. reflecting the positive public perception of the Bank's fundamental financial strength. The relocation to the imposing Baroda Corporate Centre. change is a journey. Actioning this strategy will position Bank of Baroda as India's uncontested premier bank. And the Bank will emerge stronger. the Bank opened its first overseas branch at Mombasa on 14. Subsequently. the Bank has 78 overseas network branches / offices in the following 25 countries: 1 Australia 10 Guyana 19 Tanzania 19 . At present.12. operations started in Dar-Es-Salaam in 1956 and in London in 1957.

2 3 4 5 6 7 8 9 Bahamas Bahrain Belgium Botswana Bangkok China Fiji Island Ghana 11 12 13 14 15 16 17 18 Hong Kong Kenya Mauritius Malaysia South Africa Seychelles Sultanate of Oman Singapore 20 21 22 23 24 25 26 27 Trinidad & Tobago Uganda UAE UK USA Zambia Mozambique Quatar OVERSEAS SUBSIDIARIES Bank of Baroda (Botswana) Ltd. (Lusaka) Representative Offices Australia Kuala Lumpur. Hongkong. Bank of Baroda (Ghana) Ltd. Joint Venture India-Zambia Bank Ltd. Bank of Baroda (Guyana) Inc. Dubai. Bank of Baroda (Trinidad & Tobago) Ltd. Bank of Baroda (New Zealand Ltd. Bank of Baroda (Tanzania) Ltd. Bank of Baroda (Uganda) Ltd. London. Bank of Baroda (Kenya) Ltd. Malaysia Bangkok. Bahamas. Important milestones post-nationalisation: 20 . Singapore and New York. Thailand Major Financial centers of the world Brussels.

The Bank is having 170 GVK branches today. 1977: Launched Gram Vikas Kendras (GVK). BARODA SUN was launched 2005: CBS rollout in Powai. 1976: Opened the first of its Regional Rural Banks complementing its own operations in the rural heartland. 2009: CBS roll out in 100% branches & mega project “Navnirmaan” launched 21 .1969: Bank was nationalised in the year 1969 along with fourteen other banks. 230/. 1995: Bank raised Rs. Mumbai 2006: Bank came out with a follow on issue of 710 lacs shares each at a bidding price of Rs. 2004: Bank entered into MOU with National Insurance Company Limited for their non life insurance products under corporate agency arrangement. 2005: Bank’s new Logo. which had a tremendous response from all the segments. 300 crore through a Bond issue to comply with new norms of capital adequacy. 2008: Completed “Centenary Year”. 1972: Established Multi Service Agency for urban microcredit. 850 crore. an innovative model for integrated rural development. 1996: Bank launched its initial public offer of 10 crore equity shares for an aggregate amount of Rs. 2004: Bank was ranked as the best customer centric bank among all the public sector banks operating in India by the magazine Outlook Money (Sep-2004 issue). Today the Bank is the sponsor for 6 Regional Rural Banks spread over 5 states and 41 lead districts.per share.

business prudence.Business Philosophy: The financial integrity. This cardinal philosophy was over the 100 years of its existence. The Bank has partnered with McKinsey & Company for this programme. but not on Bank of Baroda. to become its biggest asset. which is centered around our customers and our employees. more resilient and positioned to become India’s first bank of truly global standards. the main objective of this programme revolves around the following:  Ensure best in class customer service  Streamline processes to make life simpler for employees and customers  Equip you with the best tools and techniques to discharge your roles effectively  Align the Bank’s organization structure and systems to help build ‘Baroda Next’ and drive the new strategy. The banking crisis of 1914 to 1918 put a lock on many banks. caution and an abiding care and concern for the hard earned savings of hard working people. were to become the central philosophy around which business decision would be effected. It not only survived but also emerged as a vital force in the world of banking – a financial powerhouse. Project “NAVNIRMAAN – Baroda Next” A comprehensive transformation programme called “NAVNIRMAAN” has launched by our Bank on 22 June 2009. MAJOR INITIATIVES TAKEN BY BANK IN RECENT PAST: Paramarsh – Centre for personal counseling Sampark– 22 .The Bank is emerging stronger. Primarily. and has two core elements – Business Process Re-engineering (BPR) and Organization Restructuring (OR).

Ltd For HR development (300 leaders) SUNDARAM PARIBAS Asset Company for Mutual funds Management FRANKLIN TEMPLETON Asset Management Co.SOS helpline for employee Khoj – talent identification and development programme Baroda Sujhav -Staff suggestion scheme BOB signed MOU with (i) Exim Bank (ii)IDFC(iii)SIDBI for co financing of projects BGPK (Baroda Grameen Paramarsh Kendra) MOU with Grow Talent Co. Mumbai. As a part of these efforts. the bank has been endeavoring to customize delivery channels especially for youth segment. BCC. information and skills to youth for setting up own enterprise. To encourage them to start suitable viable economic activities in their local areas Gen-Next Branch To respond to the needs of the changing demographic profile of the country. for Mutual funds Baroda GOLD COIN selling started. the bank has set up an innovative “Gen.Next branch” dedicated to youth and young IT professionals at Pune 3 4Base Rate . BSE enters into an agreement with Bank of Baroda for clearing and settlement CBS roll-out in 100% branches Launching of JV “IndiaFirst Life Insurance Co. 23 .8% (currently) 11. The objectives of BSVS are: 1. 2. Ltd. 22.” Sankalp scheme for recovery BSVS (Baroda Swarojgar Vikas Sansthan) Baroda Swarojgar Vikas Sansthan (BSVS) is a body registered under Societies Act and Trust Act at our Staff College with the Principal as its president and now it is being monitored by Priority Sector Deptt. To provide education.

Bank of Baroda offers a wide range of retail loans to meet your diverse needs. child's education.PRODUDT & SERVICES OFFERED BY BANK OF BARODA : Retail Loans: A wide range of solutions for your financial needs. our unique and need specific loans will enable you to convert your dreams to realities. Whether the need is for a new house. purchase of a new car or home appliances. Key products : BARODA HOME LOAN: 24 .

required.Generate additional income from an otherwise idle property. pursuing a graduate or post-graduate degree. air conditioners etc. Deposit surplus money / regular income / salary and save interest. Higher studies and specialization in certain fields call for additional financial support from time to time. can help finance your ambitions and goals.Home Improvement Loan Bank of Baroda brings to you a unique loan product. Baroda Education Loan : Education is the most important investment one makes in life. A loan for Repairs / Renovations / Improvement / Extension of Home and for Furniture. Loan available for purchase of furniture / fixtures / furnishing / other gadgets such as fans. Fittings & Fixtures. the Bank of Baroda Education Loans. to: Baroda Mortgage Loan Bank of Baroda brings to you an innovative combination of a loan and over draft facility with flexible repayment options against the security of your immovable property. Key Benefits • • • Ideal use of idle property . Withdraw money as per your need and save on interest cost. Key Benefits • • Loan available for repairs / renovation / improvement / extension of the existing house. Whether you are planning school education (nursery to standard XII) of your child. geysers. Following are the loan options available: • • Baroda Vidya Baroda Gyan 25 .

BARODA PERSONAL LOAN: 26 . Whether as a comfortable and dependable means of transport or as a status symbol in society.. The loan offering is designed to empower you with the financial capability to realise your dreams. a one of its kind. a vehicle is but a necessity.• Baroda Scholar Baroda Vidya: Bank of Baroda presents a one of its kind finance option for parents of students pursuing school education.. Baroda Loan to Doctors Bank of Baroda brings to you Baroda Loan to Doctors.. Yet other expenses and plans in life take priority and the dream of owning a car takes a back seat. designed specially to cater to the financial needs of the doctors. we believe you deserve ownership of a vehicle. Achieve your goals. These loans are available for studies from Nursery to Senior Secondary School. Reach out to the maximum limits.. Graduate/Post Graduate / Doctorate / Job Oriented Professional / Technical Courses offered by reputed Universities .. The Car Loans from Bank of Baroda are designed to finance the car that suits your need and matches to your status & taste. Baroda Scholar: Bank of Baroda presents financial assistance to students going abroad for Professional / Technical studies.. The advance is available for projects related to setting up / expansion of nursing home / hospital / clinic and pathological . BARODA CAR LOAN : In today's fast paced world.

• The maximum loan amount inclusive of interest for entire tenure of the loan shall be restricted to Rs. These are the times when you may need a helping hand. holiday and medical expenditure or for any other personal use. 1 crore subject to value of the property. Bank of Baroda's Personal Loan offers financial help to meet your personal requirements. Married couples will be eligible as joint borrowers provided one of them is above 60 years of age and age of spouse is not below 55 years at the time of application. if lump-sum payment is taken or at the interval of every 5 years based on valuation of the property. Repayment of Loan: 27 . That's when you can bank on us. The loan is also available to Pensioners/Defence Pensioners Loan is also available for Earnest Money Deposits for buyers of home/flat/plot.A wedding in the family. The Bank shall have the option to revise periodic annuity amount. Key Benefits: • • Helps you take care of all kinds of expenses at a short notice. honeymoon. • • Baroda Ashray (Reverse Mortgage Loan) Eligibility: • • Should be Senior Citizen of India. above 60 years of age. Should be the owner of a residential property (house or flat) located in India in his/her own name. Maybe it's high time you surprised your spouse with a priceless gift. Or you simply need to pamper your family with an extended vacation. The Loan may be availed to meet expenses related to marriage. travel.

as such. 200 Lacs. Advance available up to Rs. 10% on Bank's own Fixed Deposits. become due for recovery and payable. The borrower(s) or his/her/their estate shall be provided with the first right to settle the loan along with accumulated interest. to be met by the proceeds received out of sale of residential property. . The business units should have been established in the line of business for a minimum period of 2 years • • • 40% on realizable market value of immovable property. Proprietorships. Dealers in gold/ silver jewelry are also covered under the scheme. for house to be sold. Govt. • . 15% on face value of NSCs. surrender value of LIC policies. • Settlement of loan. Bonds. Baroda Traders Loan: The Baroda Traders Loan facility enables individuals. Loan can be repaid in a maximum period of 60 months. along with accumulated interest. The loan will. A reasonable period of 2 months may be provided when repayment is triggered. bodies such as Partnership firms and Co-op societies to avail of working capital or undertake development of shop by way of loan/overdraft. Key Benefits • • • • Option to avail the credit facility as loan or overdraft.The loan shall become due and payable when the last surviving borrower dies or would like to sell the home / permanently moves out of the home for aged care to an institution or relatives. BarodaTwoWheelerLoan: 28 . without sale of property.

Margin of 10% on loan amount. The loan amount can be repaid in maximum 60 months from the date of disbursement of loan. skill up gradation. thereby reducing the burden of a one-time payment. • • 29 . having assured employment prospects. pilot trainings. 1 Lakh (or five times of the monthly income. hospitality and travel management. Terms & Conditions • Finance for a minimum of Rs. executive development etc. Specialization courses offered by reputed Universities/ Institutions (Indian or Overseas). professionals. a two-wheeler is as much a boon as it is to a car owner. in India / abroad. 5000 and a maximum of Rs. self-employed. salaried. the options available to the customer are both attractive as well as convenient. trainings. Bank of Baroda's Two-Wheeler Loan make it possible to purchase a two-wheeler and pay back in easy monthly instalments. having assured employment prospects. Professional Courses. Skill up gradation courses offered by various institutes (Indian/Overseas). Eligiblity of Courses : • Graduate. whichever is less) can be availed of through the loan.For those individuals who prefer to travel more conservatively or to get to their destinations faster. Diploma. • • Baroda Career Development Gainfully employed persons intend to pursue higher education. With newer models coming out each year. diploma or degree courses offered in aviation. All resident Indians. Post Graduate. vocational courses. Courses offered by Hospitality Management Institutes for Skill upgrade/Short course/ Training etc. businessmen and farmers can apply for this loan.

a unique housing loan facility designed specially for Non Resident Indians (NRI) and Person of Indian Origin (PIO). offered by reputed Institutions (Indian or Overseas). The minimum and maximum loan limits are fixed at Rs. • Baroda Home Loans to NRIs / PIOs Bank of Baroda presents yet another innovative product in the form of Baroda Home Loans to NRIs / PIOs. • • 30 . where many commercial properties/shopping malls are being developed and the owners approach banks for loans against securitization of future rent receivables from such properties. owners of immoveable properties (lessor) belonging to all types of the constitution.1000 lacs respectively. Key Benefits • The scope for the New Product has been kept wide to cover the target groups.1 lac and Rs. Student Eligiblity : • • Should be an Indian National. viz.• Pilot Training Courses. Have secured admission to the course through entrance test / merit based selection process. Key Benefits • • A loan product tailor-made for NRI / PIO needs Opt for Flexi Rate plan to hedge the interest rate risk by breaking the loan into two separate accounts Free property insurance and personal accident insurance No pre payment / foreclosure charges for part as well as full prepayment (when repaid from own sources by the borrower) . Loan Against Future Rent Receivables Has been developed considering the growth potential in the real estate in various metros and urban centers. approved by Director General of Civil Aviation (DGCA) /International Civil Aviation Organization (ICAO).

nature of deposit and its unique saving and withdrawal features. a unique housing loan facility designed specially for Non Resident Indians (NRI) and Person of Indian Origin (PIO). Current and saving deposits are ideal for individuals who wish to take advantage of multiple benefits within the same plan and even be eligible to opt for overdrafts. Apart from competitive interest rates and convenient withdrawal options. ATM's etc. These deposit plans offer convenient solutions to both working individuals as well as senior citizens. Gen Next Services: Gen-Next Junior (Saving Account) Product Nature • This is a Special kind of Savings Bank Deposit product for children to be made available in Gen-Next Pune branch. Choose from Fixed. Key Benefits • • A loan product tailor-made for NRI / PIO needs Opt for Flexi Rate plan to hedge the interest rate risk by breaking the loan into two separate accounts Free property insurance and personal accident insurance No pre payment / foreclosure charges for part as well as full prepayment (when repaid from own sources by the borrower) • • Deposits: • • • • • Bank of Baroda offers various deposit plans that you can choose from depending on the term period. our deposit plans offer other features such as overdraft facility.Baroda Home Loans to NRIs / PIOs: Bank of Baroda presents yet another innovative product in the form of Baroda Home Loans to NRIs / PIOs. Current and Savings Deposit plans. safe deposit lockers. more than 12 months and recurring deposits. Fixed deposits are categorised into deposits with a term period of less than 12 months. outstation cheque collections. Gen-Next Lifestyle 31 .

video camera / refrigerator / washing machine / music system / air-conditioners / cooking system etc). Target Group • The product is targeted to working executives and other working professionals. two-wheeler / four-wheeler. Handycam etc. Gen-Next Suvidha : Product Nature : • This is a Recurring Deposit product enabling the customer to make regular savings on monthly basis and earn higher interest. Target Group Working Gen-Next Power (OD Facility) Product Nature • This is a special Savings Deposit product having an in built feature of overdraft facility to be available at Gen-Next Pune branch. Purchase of vehicle i. Minors of age 10 years and above jointly with their parents / natural guardians. Our Bank’s Staff members are not eligible to avail the product.V. Minors below 10 years age through their parents.Type Of Facility • Term Loan (Combo Pack) Purpose • • • • Purchase of Home Furnishings / Consumer Durable goods (includes color T. DEBIT CARD : 32 . Purchase of any new electronic gadgets like Mobile. . Purchase of Laptop / PC. Customer Segment : • • • Individuals in their single / joint names..e. i-Pod.

So no more delays in transfer of funds typical of Banker's Cheque. The facility is available at 345 branches across 53 centres in India inclusive of all branches in Ahmedabad. it can also serve as your electronic purse. Bangalore. saving you and your associates from waiting endlessly for funds to get credited. The card enables you to enjoy the convenience of cashless purchasing power without the fear of overdrawing your account Key Benefits • Take advantage of the most widely accepted card and be able to withdraw from any ATM displaying the VISA logo. Delhi. and money gets debited instantly from your account. Demand Drafts. avoiding visits to even our nearest branches. and Pune. • Demat: The Depository system was introduced in India more than a decade back. The card is also accepted at any 350000 merchant outlets in India and around 29 millions globally. The Card allows you to get mini-statements from Bank of Baroda ATMs. The Baroda Money Express remittance facility ensure instant payments and transfer of funds. • • Remittances (Baroda Money Express): Business relations get strengthened and add to the trust when financial dealings happen on time. as you pay. At VISA Electron merchant shops. Chennai. This electronic remittance is the fastest way of transferring money from one place. Mumbai. Hyderabad. 33 . Key Benefits: • Can be used to transfer money to the beneficiary's account in the same bank. This facility is available for both retail and corporate customers enabling efficient and easy transfer of money. in India and abroad. Mail Transfers and Telegraphic Transfers. thus offering convenient options.Bank of Baroda International Debit Card is accepted at over 50000 Visa Electron ATMs in India and 1000000 ATMs worldwide. or to check the balance in your account. or another bank or even to their residential/office address.

Clean Bills and Documentary Bills from customers and various centres.. Presently. available only to account holders of our Bank. Demand Drafts. Dividend Warrants. A "Depository Participant" is an agent of the Depository (NSDL or CDSL) who is authorized to offer depository services to investors. 23rd February 2006 available at all our branches across the country. custodians and stockbrokers complying with the requirements prescribed by Securities & Exchange Board of India (SEBI) can be registered as a Depository Participant (DP). Baroda Health: "Baroda Health" (Mediclaim Insurance Policy) for Bank’s Account holders. in respect of the following eventualities.    Any illness / disease Accidental injury and/ or any ailment. Thus to open a Demat account of an investor. we have developed a co-branded insurance product called as "BarodaHealth" (Mediclaim Insurance Policy) for Bank's Account holders w. Any surgery that is required in respect of any disease or accident that has arisen during the policy period The minimum hospitalization should be for 24 hours. National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). With a view to offer value added services to our customers.Today the word "Demat" is well known and most of the investors are conversant with the Demat of shares and securities.e. Refund Orders. banks. Interest Warrants. a bank or its branch has to get registered .f. Financial Institutions. >  Collection Services Outward Bills for Collection: All branches of Bank of Baroda have the facility of collecting Cheques. there are only two depositories functioning in India and they are:i. which takes care of the hospitalization expenses incurred by the customer up to the amount of sum insured. ii. All Cheques and other instruments are collected into properly 34 . What is Baroda Health Policy? It is a Medical Insurance Scheme.

per packet is charged for courier charges with an additional but nominal collection charge.. Mumbai. Hundi's etc. prize money of Lottery Tickets. Inward Bills for Collection: Bills of Exchange. National Clearing Special Facilities: This product is an undertaking by the Reserve Bank of India. If these instruments are not collected within 14 days of lodgement.introduced accounts and sent for collection on the day of receipt from the customers or the next working day. Foreign Currency Notes etc. Chennai and Calcutta. Promissory Notes. Bank of Baroda's BOB Quick ensures a better collection service. Time Bound Collection: All branches of Bank of Baroda are prompt in terms of the collections and forwarding of cheques and other instruments. For metro cities. Rs. The bank levies service charges as stipulated from time to time. when financial instruments are presented in a branch. BOB Quick: The Funds collected in this offering are credited to the customer's account within a guaranteed period of 7 days. All financial instruments are cleared promptly with the introduction of mechanised cheque processing. for inter city clearing of cheques between the four metropolitan centres of Delhi. For state capitals. All cheques amounting to Rs. (Clean / Documentary). (and centres with more than 100 branches). amount is credited only after 10 days. which creates new avenues of income and ensures better investment of funds. Also. 25000/. Bills received from Bank of Baroda branches and from other banks. directly from drawers or outstation parties are treated as Usance (??) Bills. without the customer having to claim it. payable locally but received from outstation branches / banks / parties are treated as "Inward Bills for Collection". Key Benefits • • Settlement of transactions on the basis of net value of instruments. achieved through MICR technology. the proceeds are credited to the customer's account on the same day in the following week. Branches also accept requests for collection of Loan Certificates / FDRs issued by Joint Stock Cos. 50/. interest @ 2% per annum over savings bank rate is paid and is credited to the customer's account.and above are drawn on select banks and are eligible for "Quick inter station clearing". The concept of clearing has been extended to clearance of outstation cheques also. 35 .

Trichy. and more. shareholders. Bangalore. Baroda. Madurai. Erode. for undertaking various types of treasury activities in different financial markets. These centres are Nagpur. certain other centres have also been identified for "One Way National Clearing".• In addition to the four metropolitan centres. ElectronicClearingServices(ECS): This is a unique system under which Bank of Baroda helps companies and institutions making heavy payments disburse these amounts directly into the bank accounts of the beneficiaries such as account holders.     Wholesale (Large & Mid Corporates) Urban Retail Small & Medium Enterprises Rural/Agri Business Under Wholesale Banking the corporate customers are identified as Large and Mid corporates. Pondichery. Hyderabad. TREASURY: DomesticOperations Bank of Baroda has set up dedicated desks at the SITB. headed by experienced professionals. investors etc. Vellore. 36 . Ahmedabad. 500 crore are classified as Large Corporate and those having annual sales turnover between Rs 100 crore to 500 crore are classified as Mid Corporate. Trivendrum. Apart from activities pertaining to management of funds and liquidity. Companies having annual sales turnover of over Rs. WholesaleBanking: Bank has identified the following new business segments as a step toward becoming Multi Specialist Bank. the domestic treasury also handles financial instruments like: • • • • • • Commercial Papers (CP) Certificate of Deposits (CD) Government Securities Treasury Bills (TB) Bonds and Debentures Equities and various other derivatives.

Belgium. the bank caters to the foreign exchange needs of its clientele engaged in export and import trade and the SITB provides rates for conversion of all major world currencies like U S Dollar. Bahamas. to provide on-line quotes for foreign exchange transactions. including those of subsidiaries. provident funds trusts. Through its large network of authorized branches. The forex dealing desk at the SITB is provided with all modern communication facilities and is in the process of linking all its authorized branches via Reuters Automated Dealing System. corporate bodies. The bank has retained its primacy as a leading market maker both in spot and forward markets. Euro. ForexOperations: Bank of Baroda. South Africa. along with foreign exchange swap markets. Urban Cooperative Banks and Non-Banking Financial Companies opportunities to invest in Government Securities as allowed by Reserve Bank of India for non-competitive bidding. UK. Oman. institutions. Sterling Pounds. Regional Rural Banks.The products and services offered by SITB cater to the inter-bank market as well as to the Corporate customers of the bank. apart from consolidating its overseas operations in those countries where the bank has already made its presence felt. Japanese Yen and other exotic currencies. companies. IN RURAL SECTOR : 37 . Uganda and Zambia The Bank has completed fifty years of operations in overseas territories and is poised to expand its reach to countries like Tanzania and China. Seychelles. including firms. The services to the customers of the Bank include hedging of foreign currency risks by providing forward covers and various derivatives product. At present the Bank is having branches / offices in countries like USA. Guyana. is considered as a market leader in foreign exchange operations in India. Kenya. The Bank offers its customers. The Bank is an active participant both in the inter-bank market and the corporates for all the products. UAE. Hong Kong. The modern state-of-the-art dealing room at its Specialised Integrated Treasury Branch (SITB) at Mumbai provides the necessary wherewithal to its 95 designated branches across the length and breadth of the country authorized to handle foreign exchange business of its clientele. Fiji Islands. spread over 16 countries. Mauritius. one of the major public sector banks in India having a strong global presence with a wide network of 61 overseas offices. Swiss Francs.

Baroda Grameen Paramarsh Kendra (BGPK) – a centre for Knowledge Sharing.Bank’s passion for Rural Development Bank of Baroda. technology adoption. Financial Education and Financial Inclusion: o o Spreading “Financial Awareness” among rural masses through village level meetings and help them to choose suitable banking products. Problem solving and Credit Counseling for the Rural Community. diversification of opportunities. Centenary Year commitments During the Centenary Year. Baroda Swarojgar Vikas Sansthan (BSVS) is another initiative for capacity building by providing appropriate training for skill upgradation to unemployed youth and women for their gainful employment. In the past. the Bank is committed to continue its initiatives towards Corporate Social Responsibilities. In addition to this. 100% Financial Inclusion in 5-10 villages. better farming practices. value addition services offered by various institutions. especially for the farmers. the Bank has conceptualised “Baroda Grameen Paramarsh Kendra (BGPK)” and its implementation by the dedicated team. With a view to assist the rural community. has been in the forefront for social commitment with its innovative approaches and products. the deficiencies/ ignorance about credit related repayment during distress situations call for credit counseling. market linked prices. 38 . A passion for agriculture and rural development and to serve the common man is ingrained in the Bank’s philosophy. is one of such initiatives. since its inception on 20th July 1908 by the great visionary Maharaja Sayajirao Gaekward III. Activities to be covered: • • • Financial Education and Financial Inclusion Information sharing and problem solving on technical issues Credit counseling Services offered: (Illustrative Only) 1. Concept : For the rural community. women empowerment and also for employment opportunities for rural youth. there is a big “Knowledge Gap” in financial literacy. which would build the confidence of the rural people. the Bank has taken a number of initiatives such as opening of specialized outlets of Gram Vikas Kendras (GVKs) and Multi Service Agencies (MSAs).

is contributing significantly in accelerating the pace of rural development by providing finance to farmers by way of following agriculture products. Credit Counseling: o Providing credit counseling on repayment pattern. Information on the prices of Agriculture commodities in various mandis across the country so that the farmers can sell their products at best price. when you can idle it with interest? Depending on the period. Click each product for more information. journals. Enjoy both security and competitive rates of interest on your deposits with any of the following products. our various fixed deposit products help you get the best out of your savings by offering you good interest rates. Bank of Baroda. Film / Puppet shows. Maintaining a small library containing books. Information sharing and problem solving: o o o o Interface sessions with the Subject Matter Specialists from Knowledge institutions like Agri.2. 3. TV & Radio talks. Providing extension services to the farmers by organizing / participating in Grameen melas. reschedulement and fresh credit during distress situations for rural people. 39 . NGOs. etc. Universities. rephasement. Baroda Fixed Deposit Account Why just let your money idle. • For Deposits upto 12 months: o Short Deposits • For Deposits over 12 months: o o o Fast Access Deposit Scheme BoB Flexible Fixed Deposit Scheme Regular Income Plan AGRICULTURE: AGRICULTURAL FINANCE SCHEMES : Agriculture being the backbone of the Indian Economy. etc. KVKs. audio-visual aids. etc.

for not only to farmers. unforeseen family expenses (consumption) and maintenance of non-farm activities. purchase of quality inputs. purpose or end-use of credit Upto a maximum limit of Rs.25000/Unlimited number of withdrawals and repayments (within the credit limit) 40 .• Baroda Kisan Credit Card (BKCC). investment requirements like purchase of agriculture implements/tractor etc. but also for land-less labourers. is one which is engaged in the manufacture. Baroda General Credit Card Scheme (BGCC) is designed to provide hassle free and easy credit access to people in the rural and semi-urban areas. Key Benefits • • • No insistence on security. • • • Small Scale Industries A Small Scale Industrial Unit. farming expenses towards farm maintenance. BKCC provide adequate and timely support to farmers for their production needs e.Empowering the farmer : The BKCC facility designed exclusively for the benefit of the farmers aims to provide them the opportunity to manage and utilise their funds in the manner they deem fit. 1 Crore. mining or quarrying or custom service unit (except water service units). Purchase of agricultural implements including indigenous improved ones being utilised for field operations including harvesting/sorting/grading. • Baroda General Credit Card Scheme (BGCC): Bank of Baroda presents a tailor-made Credit Card Scheme for the citizens belonging to the rural and semi-urban parts of India. Bank of Baroda has special Loans and Advances for the purpose of fixed capital investment and also for working capital requirement.g. having investments in plant and machinery (original cost) not exceeding Rs. processing or preservation of goods or is a servicing and repair workshop undertaking repairs of machinery used for production.

You will experience the magic as you further surf the pages of this site PRODUCT OF BARODA NEXT: ONLINE PAYMENT OF INSURANCE PREMIUMS To unleash the power of technology for the convenience of our customers. In a series of ads. we let you pay your insurance premium online so that you don't have to run around to pay your premiums. Through Baroda Connect internet banking facility. HOME LOAN: MOVE INTO DREAM HOME IN 6 DAYS: 41 . stick man faces a number of tricky situations which he resolves using Bank of Baroda’s services in a humorous and endearing manner. Because at Bank of Baroda. prompt and paperless banking solutions. one of India's oldest and largest PSU banks. It aims to bring in new technologies. STICKMAN The protagonist Stickman is our customer who discovers the joy of technology in banking with Bank of Baroda. it also focuses on nurturing long term relationships and superior customer service. BARODA NEXT – “ STATE-OF-THE-ART. we have devised a series of e-banking products and services. systems and processes to offer fast. and we are committed to compliment your effort to do things faster with less strain or stress to you.Bank of Baroda Next Has Miles to go! ABOUT US Bank of Baroda. has always made a concerted effort to stay in tune with changing times and consumer preferences. we understand time is very precious to you. At the same time.STRAIGHT FROM THE HEART” Baroda Next is Bank of Baroda's initiative to offer high-tech banking solutions without losing the human touch.

You don't have to wait for your dream home for long. The loan is available for construction of new house. Loans are also available for those who wish to transfer their existing home loan from another financial institution/bank to Bank of Baroda. Baroda Vidyasthali Loan Baroda Vidyasthali Loan is a special scheme for financing Educational Institutions. 42 . 5 & 8 grams in round shape and 10 grams bar. Because at Bank of Baroda. 4. we understand time is very precious to you. we have devised a series of e-banking products and services. Through simplified processing systems.9 pure Swiss made gold coins with Assay Certification in the denomination of 2. we offer you home loan in just 6 days. Now you can stop worrying about due dates of your bills and live a relaxed life as we make life easier by offering Baroda Connect internet banking facility to pay your bills online. and we are committed to compliment your effort to do things faster with less strain or stress to you. INDIAFIRST LIFE INSURANCE: Joint venture on bank of baroda & Legal & General & Andhra Bank GOLD COIN: Bank of Baroda offers sale of 24 Karat 999. ONLINE UTILITY BILLS PAYMENT : To unleash the power of technology for the convenience of our customers. purchase of new/old house/flat/residential plot and extension/renovation of existing house/flat. These coins are available for sale at select POS Branches.

for the new set up as also renovation of the existing facilities. office furniture.PURPOSE To meet the financial requirements for setting up the institutions which includes construction of building. Purchase of ambulance etc and to meet working capital requirements. purchase of instruments for imparting education training to the students. Expansion/renovation/modernization of existing Nursing Home/ Hospital including Pathological Laboratory. viz. Loans Under Interest Subsidy Eligibility Certificate Scheme of Khadi & Village Industries Commission (KVIC-ISEC) Purpose To finance institutional financing agencies for lending to Khadi & Village Industries CREDIT CARD: BOBCARD EXCLUSIVE WOMAN 43 . air conditioners. purchase of equipment etc. Purchase of medical diagnostic equipments as also office equipments. computers. Baroda Arogyadham Loan: PURPOSE To meet the financial requirements for setting up of new Nursing Home/Hospital including Pathological Laboratory. The scheme is implemented in rural and urban areas. Baroda Artisans Credit Card (BACC): PURPOSE • To provide adequate and timely assistance to the artisans to meet their credit requirements both investment needs as well as working capital .in a flexible and cost effective manner.

This card is welcomed at over 29 million Merchant Establishments and over 8.S. the companies have been required to search their records for such policies. The first insurance company in the United States was formed in Charleston. The sale of life insurance in the U. South Carolina in 1732.000 ATMs MARKETING STRATEGY OF THIRD PARTY PRODUCT IN GENERAL AND NON LIFE PRODUCT : History of insurance Insurance began as a way of reducing the risk of traders. but fewer than half a dozen survived. In response to bills passed in California in 2001 and in Illinois in 2003. Episcopalian priests organized a similar fund in 1769. ship owners and underwriters met to discuss deals at Lloyd's Coffee House. began in the late 1760s. Life insurance dates only to ancient Rome. 44 . "burial clubs" covered the cost of members' funeral expenses and helped survivors monetarily. predecessor to the famous Lloyd's of London.DESCRIPTION BOBCARD Exclusive Woman Card is a tribute to the glorious women of India who are acclaimed for their contributions to the human civilization. they added that their trustees voted to end the sale of such policies 15 years before the Emancipation Proclamation. originally as insurance for traders[7] : merchants. New York Life for example reported that Nautilus sold 485 slaveholder life insurance policies during a two-year period in the 1840s. but it provided only fire insurance.00. The Presbyterian Synods in Philadelphia and New York created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759. Between 1787 and 1837 more than two dozen life insurance companies were started. Modern life insurance started in 17th century England. BOBCARDS presents this Card to offer its gratitude to the great women souls of the land. many insurance companies in the United States insured the lives of slaves for their owners. as early as 5000 BC in China and 4500 BC in Babylon. Prior to the American Civil War.

The term can be for one or more years. These terms are commonly 5. universal.where the main objective is to facilitate the growth of capital by regular or single premiums. The main classes of insurance are life and other personal insurance. Common types of term insurance include Level. life and fire insurance developed later. typically a lump sum payment. Investment policies . In the United States.designed to provide a benefit in the event of specified event. In return. Guaranteed Renewal. whole life and endowment life insurance. The face amount can remain constant or decline.term. the insurance company guarantees it will issue a policy of equal or lesser amount without regard to the insurability of the insured and with a premium set for the insured's age at that time. Some companies however do not guarantee renewal. The premium can remain level or increase. some policies contain a renewal or conversion option. the policy owner agrees to pay a stipulated amount at regular intervals or in lump sums. universal life and variable life policies. 10. the predominant form simply specifies a lump sum to be paid on the insured's demise. Premium to be paid (cost to the insured) Length of coverage (term) Various insurance companies sell term insurance with many different combinations of these three parameters. marine insurance. Level term is often used for long term planning and asset management because premiums remain consistent year to year and can be budgeted long term. Common forms (in the US anyway) are whole life. Life-based contracts tend to fall into two major categories: • • Protection policies . 30 and even 35 years. 25. There are three key factors to be considered in term insurance: • • • Face amount (protection or death benefit). There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. Level Term policy has the premium fixed for a period of time longer than a year. LIFE INSURANCE : life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy. accident or property insurance and liability insurance when the sum becomes payable when legal liability is incurred as for personal injuries or professional negligence to another. A common form of this design is term insurance.Insurance developed from the fourteenth century as a means of spreading huge risks attendant on early maritime enterprises. At the end of the term. and require proof of insurability to mitigate their risk and decline 45 . • • Types of life insurance Life insurance may be divided into two basic classes – temporary and permanent or following subclasses . 15. Annual Renewable and Mortgage insurance. 20.

One is Third Party liability insurance. Examples are insuring property like house and belongings against fire and theft or vehicles against accidental damage or theft. This can force clients into a more expensive permanent program because of anti selection if they need to continue coverage. Insuring anything other than human life is called general insurance. theft etc. there are policies that cover the hull of ships and so on. Apart from offering standard covers. flood storm and inundation. Non-life insurance companies have products that cover property against Fire and allied perils. and liability insurance which covers legal liabilities. the insured will have to bear a ratable proportion of the loss There are general insurance products that are in the nature of package policies offering a combination of the covers mentioned above. There are products that cover property against burglary. 46 . In respect of insurance of property. For instance. Renewal that requires proof of insurability often includes a conversion options that allows the insured to convert the term program to a permanent one that the insurance company makes available.renewing higher risk clients (for instance those that may be terminal). which is just called liability insurance by insurance companies and the other one is first party insurance. credit insurance etc. General Insurance comprises of insurance of property against fire. burglary etc. THIRD PARTY INSURANCE: There are two quite different kinds of insurance involved in the damages system. it is important that the cover is taken for the actual value of the property to avoid being imposed a penalty should there be a claim. chartered accountants etc. What is General Insurance? Insurance other than ‘Life Insurance’ falls under the category of General Insurance. insurers also offer customized or tailor-made ones. Injury due to accident or hospitalization for illness and surgery can also be insured. shop keepers and also for professionals such as doctors. The non-life companies also offer policies covering machinery against breakdown. earthquake and so on. there are package policies available for householders. There are also other covers such as Errors and Omissions insurance for professionals. personal insurance such as Accident and Health Insurance. Where a property is undervalued for the purposes of insurance. Your liabilities to others arising out of the law can also be insured and is compulsory in some cases like motor third party insurance. Renewal and conversion options can be very important when selecting a program.

because they never know the maximum amounts they will have to pay under third party policies.Third party risks insurance is mandatory under the statute . Salient Features of Third Party Insurance Ø Third party insurance is compulsory for all motor vehicles. THIRD PARTY PRODUCT : LIFE INSURANCE: . In practice the money is always paid direct by the insurance company to the third party (or his solicitor) and does not even pass through the hands of the insured person.A third party insurance policy is a policy under which the insurance company agrees to indemnify the insured person. Ø In third party policies the premiums do not vary with the value of what is being insured because what is insured is the ‘legal liability’ and it is not possible to know in advance what that liability will be. and the person you (the insured) injure who claims damages against you is the third party. Ø Third party insurance is almost entirely fault-based. The insured is one party. New India Assurance Co.[2]. In G.(means you have to prove the fault of the insured first and also that injury occurred from the fault of the insured to claim damages from him) Ø Third party insurance involves lawyers aid Ø The third party insurance is unpopular with insurance companies as compared to first party insurance. the insurance company is the second party. Govindan v. Ø Beneficiary of third party insurance is the injured third party. the insured or the policy holder is only nominally the beneficiary of the policy.BARODA HEALTH & NICL 47 . Ø Third party insurance does not cover injuries to the insured himself but to the rest of the world who is injured by the insured.This provision cannot be overridden by any clause in the insurance policy. if he is sued or held legally liable for injuries or damage done to a third party.INDIAFIRST LIFE INSURANCE GENERAL INSURANCE: . Ltd.

Both the banks are nationalized and provide best in class products and services to every Indian citizen. 48 . Andhra Bank has been serving the Indian customer for over 85 years and currently has a network of over 1500 branches. corporate governance and most importantly – the trust of valuable customers like you.JOINT VENTURE OF: & & Vision: “Become a life insurance and pensions business leader in providing significant value for all stakeholders through true customer delight” Bank of Baroda: is the 3rd largest public sector bank in the country with an enviable network of over 3000 branches that spreads across the geography of India and over 70 branches across 22 countries globally! This behemoth financial institution is over 100 years old and has been built on financial prudence. The bank has developed best in class deposit and lending schemes for its valued customers.

Banking Channel is one of the best platforms for reaching out to the masses more particularly in rural and semi-urban area where the vast potential lies for insurance business. will enable us to make a real long-term contribution to the Indian economy by broadening the choices available to our customers as they harvest the fruits of their economic success and invest them for a stable long term future for themselves and their families. collected Rs 200 crore as premium in four months of operations and is all set to release more products in the current financial year. creative in its approach. We aim to provide world class products and services that are customized to meet the requirements of the Indian consumer . Our philosophy of putting the customer First together with our cost effective distribution model. IndiaFirst is an open. The new corporate identity represents the company's personality. so far. Dr. in which Bank of Baroda holds major share of 44% and remaining 30% & 26% are shared between Andhra Bank and Legal & General (UK) respectively. Bank’s foray into life insurance business through this joint venture route will help its customers to have convenience of all at one place at the branches of the Bank in catering to their insurance needs. Ltd. IndiaFirst aims to be modern in its outlook. We as a company are committed to providing value for money products and service excellence to our customers. They are a testimony to the commitment of our promoters of always putting our customers First in everything we do. Managing Director and CEO. the distributors and our shareholders. The company plans to initially focus on the bancassurance model. Andhra Bank and Legal & General (UK). Nandgagopal. 2009 at Mumbai.At a press meet here on Thursday. It plans to leverage the existing customer base of over 50 million customers of the promoter banks spread across 4. We represent India's new found confidence. The Company since plans to initially focus on bancassurance model. Nandagopal added.500 branches in the country. investments and general insurance plans to over 5 crore customers across countries. it will be largely benefited by the Bank’s large presence throughout the country in augmenting its business. It provides life assurance. With this tie-up.Legal & General is one of UK’s leading financial institutions with a heritage of over 150 years. he said the company — a joint venture between the Andhra Bank. grit and spirit. is a 3 way joint venture of Bank of Baroda. This joint venture brings together a real understanding of the Indian consumers by the promoter banks with international best practices developed by Legal & General. We believe in doing things right for the customer. according to Dr P. focus on principles. IndiaFirst Life Insurance has. The wave in the logo represents the colors of the three promoters Bank of Baroda. The three promoters put together have over 360 combined years of service to customers across the world an envious achievement. modern and hardworking organization. Both have a huge semi urban and rural network. It aims to always place the Indian consumer First in everything it does. the Bank’s customers will get easy access to the insurance schemes of India First Life Insurance Co. the Bank of Baroda and Legal & General — had made rapid strides. Bank of Baroda entered into a Strategic Marketing tie-up with the company for distribution of its life insurance products across the Bank’s branches on 12th November. with only three products. Ltd. pensions. energetic in its attitude. cheerful and vibrant yet simple and clear in its communication. Each bank has its own segmentation and profile of customers. Andhra Bank and Legal & General.India First Life Insurance Co. “The company is offering IndiaFirst 49 . its resolve. Legal and General brings rich fund management and insurance experience into India and aspires to provide first-rate products and services to the doorstep of every Indian customer in conjunction with the 2 trusted public sector banks. The challenge for the company is to optimally exploit the entire potential provided by both Bank of Baroda and Andhra Bank.

Creditlife and Groupterm. • Under Section 80C you can enjoy Tax Benefits on the premium you invest.He said. the products may be sold through the regional rural banks of bothAndhra Bank as well as Bank of Baroda.” SALIENT FEATURES AND BENEFITS: • You can build your savings corpus systematically. Vijayawada and Visakhapatnam. through investments in various funds.He said the company currently was selling its products through3.Education Plan. as they get an assured lump sum benefit immediately. equity or a balanced fund.Dr Nandagopal said the company was also planning to have of its own and in Andhra Pradesh initially three branches would be set up — one each in Hyderabad.” he said. in case of your untimely death.“Both the banks put together have 4. • You have the option to build up your corpus through additional deposits. We insist on showing the audio-visuals to our customer and explain all the features of the products to them. we are planning six to eight new products. • You also get tax benefits on the benefits you receive at maturity of your payment. • You secure the future of your family. PRODUCT OF INDIAFIRST INSURANCE: Your child. We will release two more products on April 21 . “Our aim is to offer simple products suited to the needs of our customers.” he added.000 branches of Andhra Bank and Bank of Baroda. fairly priced and truthfully delivered. • You have the option to invest in debt.500 branches and we will in a few more months' time extend our services to all the branches. your pride… Our responsibility" 50 . 50 such independent branches may be set up in the country. • You get easy access to your money by being able to withdraw partially. he said. During the current financial year. In the current financial year.“In future. where you choose the proportion of your investment into each! • You can make the most of your investments by ‘switching’ from one fund to another. IndiaFirst Savings Plan and IndiaFirst Future Plan.

receives the Fund Value at Maturityeven if the ‘Sum Assured’ has been paid out on the unfortunate incident of your demise. who we may also refer as the ‘ Beneficiary ‘. you want to give nothing but the best to your child.We understand that. Be it High School / College/ Professional course or any other life event! Your child gets financial security even if any untoward incident results in your death / disability. You have the option to invest in debt. Under Section 80C and 10(10D) you can enjoy Tax Benefits on the premium you invest You evolve. To help you give your child everything that you have dreamt of. Your child. Be it your child’s education or any dream. as a parent. You have worked hard all your life. And we help you prosper" The best years of ‘Life’ ought to be your retirement years.. we have introduced the IndiaFirst Education Plan. You get easy access to your money by being able to withdraw partially. You will not allow anything to come in the way of your child’s success. We will do this by paying the remaining premiums into your policy. where you choose the proportion of your investment into each! You can make the most of your investments by ‘switching’ from one fund to another. 51 . equity or a balanced fund. You have the option to build up your corpus through additional deposits. BENEFITS AND FEATURES: • • • • • • • • • • Your child will always receive funds at every momentous occasion in his/her life.. and you deserve the best things in life in these golden years. you mature.

You dream. where you choose the proportion of your investment into each! You can make the most of your investments by ‘switching’ from one fund to another. on the basis of your risk appetite.We identify with you. We help you save systematically and provide you avenues to invest your savings in funds. We are therefore presenting the perfect plan that will empower you for this golden period. And we help you achieve! Each of us aspires to own a house. You get easy access to your money by being able to withdraw partially. The IndiaFirst Future plan helps you set-aside money in your prime years when are generating income and enjoy a healthy lump sum or a steady income in your retirement years. dreams of exotic overseas vacations. wishes to fund our children in all their life’s events. BENEFITS AND FEATURES: 52 . you aspire…. Equity or a Balanced fund. You have the option to build up your retirement corpus through additional deposits. You can enjoy tax free returns up to 1/3rd of the fund value as at your chosen date of retirement (called Vesting Age). You have the option to invest in Debt. BENEFITS AND FEATURES • • • • • • You can choose the age at which you want to retire. hopes to have sufficient retirement funds… The IndiaFirst Savings Plan helps you grow and develop a body of wealth through market linked investments.

receives the Fund Value at Maturityeven if the ‘Sum Assured’ has been paid out on the unfortunate incident of your demise. Your protection. Your child. equity or a balanced fund. where you choose the proportion of your investment into each! You can make the most of your investments by ‘switching’ from one fund to another. as they get an assured lump sum benefit immediately. Be it High School / College/ Professional course or any other life event! Your child gets financial security even if any untoward incident results in your death / disability. who we may also refer as the ‘ Beneficiary ‘. our security… BENEFITS AND FEATURES: • Enjoy the benefits of a life cover for a period of up to 30 years at an extremely reasonable price The life assured's family is secured. in case of the life assured's untimely death Under Section 80C you can enjoy tax benefits on the premium you invest • Under Section 10 (10D) your family also gets tax break on the benefits they receive from your plan Risk factors • There is no maturity or survival benefit payable under this plan 53 . You have the option to invest in debt.• • • • • • • Your child will always receive funds at every momentous occasion in his/her life. We will do this by paying the remaining premiums into your policy.

The plan provides you the flexibility of adding new members during the plan year. You have the flexibility to choose between three premium paying frequencies. Please speak to your tax consultant before deciding to invest in any financial planning tool. However. this is not applicable under EDLI Minimum group size is 50. You can also opt for the Employees Deposit Linked Insurance (EDLI) scheme under this plan. 54 . the master policyholder • • • You may deduct any amount due before paying the proceeds to the nominee. The plan is renewed yearly. • Risk factors: The sum assured is paid to the nominee through you.• this is a non participating pure term assurance Your people. your trust… our accountability BENEFITS AND FEATURES: • • • • • You can now provide life cover at reasonable rates to your members – be it your employees or your customers. Tax laws are subject to change from time to time. Please read the entire brochure to understand how this plan can work for you. You have the flexibility to automatically cover the life of all your members or offer it as a voluntary scheme where your members may choose to participate.

This 55 . Key Features • You can choose your retirement age as per your need. You get the choice to select your retirement age. and we pay you a fixed annuity on a monthly basis for life. We help you do this by paying the outstanding loan amount in the unfortunate event of the member’s demise You have the flexibility to choose the coverage and the mode of payment you want to offer your members. IndiaFirst Annuity Plan: This is a traditional Immediate Annuity plan. • You can receive a definite regular monthly income through your years of retirement. we help protect them… BENEFITS AND FEATURES: • • • • You can enhance your product offering by combining insurance with your credit or loan products You can protect your assets against uncertainty. 2. You can reap the returns starting anytime between 40 and 80 years. WHAT IS THE ELIGIBILITY FOR ENTERING THE PLAN? The eligibility criterion is as under: Minimum age at entry 40 years (attained) Maximum age at entry 80 years (attained) 3. You make a single lump sum payment to enter the plan. which can be purchased by paying a lump sum amount.WHAT IS THE MODE FOR PAYMENT OF PREMIUMS? This is like a single premium policy.You build your dreams.

of more than 200 policies offered by NIC cater to the diverse insurance requirements of its 14 million policyholders. DD or ECS. is spread over the length and breadth of the country covering remote rural areas. townships and metropolitan cities.payment is called the purchase price paid through cheque. National Insurance Co Ltd awarded "Most Preferred Non Life Insurer" by CNBC AWAAZ Consumer Awards 2009 56 . 4. IN GENERAL INSURANCE WE HAVE TIE UP WITH NATIONAL INSURANCE COMPANY LIMITED WHICH PROVIDE BARODA HEALTH POLICY : COMPANY PROFILE: National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata.e. National has been de-linked from its holding company GIC and presently operating as a Government of India undertaking. carrying out non life insurance business. Befittingly. NIC's foreign operations are carried out from its branch offices in Nepal. manned by more than 16. Innovative and customized policies ensure that even specialized insurance requirements are fully taken care of.000 skilled personnel. 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.WHAT IS THE TERM FOR ANNUITY PAYOUTS? The term for annuity payouts is as follows: Term for Annuity payouts Single Life Annuity i. we will pay you the annuity till as long as you live. Headquartered in Kolkata. National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India. Consequent to passing of the General Insurance Business Nationalisation Act in 1972. After the notification of the General Insurance Business (Nationalisation) Amendment Act. NIC's network of about 1000 offices. on 7thAugust 2002. the product ranges.

Healthcare. The paid-up share capital of National is Rs. Education.Zonal Advisory Committees set up to maintain progress. Starting off with a premium base of 500 million rupees (50 crores rupees) in 1974. CUSTOMER SERVICE INITIATIVES Establishing Connectivity among 1000 offices with in the country Facility to get Policy through NET Tie-ups with leading Banks. Banking. • R&D cell set up at Head Office for distinctive product innovation relevant to indigenous conditions and rural masses. Space Research etc. National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India. The Company offers protection against a wide range of risks to its customers. Aviation. Shipping. The Company is privileged to cater its services to almost every sector or industry in the Indian Economy viz. Marine and Miscellaneous insurance. Foreign Trade. • Continuous product development to meet emerging needs of society and industry. Telecom. Power.WE ARE: The fastest growing Non-life Insurance Company in India The second largest Non-life Insurance Company in India Internationally recognized as one of the top 5 General Insurance Companies in the Asia Pacific. 57 . State Government Conciliatory Fora for facilitating quick settlement of Motor Third Party claims. Corporate Sectors.9 crores rupees) in the financial year 2008-2009. Tea. National transacts general insurance business of Fire. Information Technology. Automobile. Environment. Compromise settlement. Agronomy. Lok Adalat and Jald Rahat Yojana. NIC's gross direct premium income has steadily grown to 42799 million rupees (4279. PRODUCT DEVELOPMENT • More than 200 products available to cater to the needs of various sectors of the economy. Plantations. Oil & Energy.100 crores.

58 .e. spouse and 2 dependent children can be covered under this policy. Power. BARODA HEALTH: Baroda Health policy is a unique Health cum Accident Policy designed especially for the a/c holders of Bank of Baroda. As of March 2009. National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India. Aviation. The entire family consisting of the a/c holder.97 million rupees (501. which reflects the highest financial strength to meet policyholders’ obligations. Environment. Automobile. No wonder than that NIC has been accorded “AAA/STABLE” financial strength rating by CRISIL rating agency. Oil & Energy. used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of. This policy covers Hospitalization expenses for a/c. As of March 2009.05 crores rupees) with a net worth of 5015. Banking. either one or all members of the family can utilize the Sum Insured during the policy period. Education. Plantations.59 crores rupees) signaling strong financial fundamentals.The steady growth in premium income has been commensurately matched by profits over the years. holder and family. No wonder than that NIC has been accorded “AAA/STABLE” financial strength rating by CRISIL rating agency. POLICIES: MOTOR POLICY : TWO WHEELER Policy indemnifies bona fide owner of Two wheeler. NIC's general reserve stood at 13080.05 crores rupees) with a net worth of 5015. Space Research etc.97 million rupees (501. Foreign Trade. Agronomy. which reflects the highest financial strength to meet policyholders’ obligations. The steady growth in premium income has been commensurately matched by profits over the years. electrical accessories and also includes cover against liability towards third party personal injury and property damage1. the entire family is covered for the Floater Sum Insured as opted for. Shipping. Healthcare. In case of Hospitalization Expenses.5 million rupees (1308.5 million rupees (1308. i..59 crores rupees) signaling strong financial fundamentals. "Baroda Health" (Mediclaim Insurance Policy) for Bank’s Account holders. Information Technology. Tea. Telecom. NIC's general reserve stood at 13080.

spouse and 2 dependent children) up to the amount insured without any additional premium. Coverage options available: 8 slabs ranging from Rs. A member or all the members in insured family can avail hospitalization benefits during the policy period. Premium paid is eligible for Income Tax exemption under Section 80 D as per Income Tax Rules.f. 5. 59 . Pre-existing diseases also get coverage after 3 continuous claim-free policy years. Any surgery that is required in respect of any disease or accident that has arisen during the policy period The minimum hospitalization should be for 24 hours Key Benefits : • • Very low premium In this co-branded product.e.000/per family of 1+3. available only to account holders of our Bank. • • • • Any illness / disease Accidental injury and/ or any ailment. What is Baroda Health Policy? It is a Medical Insurance Scheme.(self.000/. to the extent of aggregate sum not exceeding the sum insured. 23rd February 2006 available at all our branches across the country. in respect of the following eventualities.to Rs. which takes care of the hospitalization expenses incurred by the customer up to the amount of sum insured. single premium (generally payable for a single person) is payable and Medical Health insurance cover is available to family of -4. we have developed a co-branded insurance product called as "BarodaHealth" (Mediclaim Insurance Policy) for Bank's Account holders w.00. 50. • • Salient features: • • • No medical examination required for commencement of health cover.With a view to offer value added services to our customers.

whichever is earlier. imposes heavy financial burden on individuals. anesthetist. 2. Salient Feature Hospitalisation for illness. X-ray. Scope of Cover 3. Salient Feature 2. dialysis. Additional Features 4.• Upper age limit of primary member (first named person) is allowed upto 80 years. The whole process is hassle-free and treatment upto the limit of insurance is available without any payment at the time of admission or discharge. surgical appliances. radiotherapy. artificial limbs and cost of organs and similar expenses. 1) Reimbursement of hospitalization expenses which are reasonably and necessarily incurred. whether including surgery or not. boarding expenses as provided by the hospital/nursing home. chemotherapy. cost of pacemaker. The policy provides the following benefits. The scheme is administered through Third Party Administrators (TPAs) for settlement of Hospitalization Claims under the insurance cover. disease or accident. consultant and specialisExpenses on account of anesthesia. Payment of hospital bill up to the sum insured will be taken care of by the TPA directly. if a person obtains the insurance cover before completion of 65 years and continue to renew the policy upto the age he wishes to or 80 years. operation theatre charges.Fees of surgeon. medicines and drugs. blood. diagnostic material. employers and welfare bodies. 60 . The insured individuals get cashless hospitalization facility also in the selected hospitals through TPAs. • • Mediclaim Policy 1. oxygen. Exclusions 1. under the following heads: Room. medical practitioner. families. Scope Of Cover Mediclaim insurance policy has been devised under the aegis of the Government of India.

and they know that insurance give security to family so that children education go ahead and make life easy and financially strong..Are you aware about the insurance policy provide by the bank? yes 43 percentage 72 no 17 28 Total 60 61 .Do know about the insurance ? yes 57 Percentage% 95 no 3 5 Total 60 Every one in know about insurance 95% people are aware about insurance policy of different company. Q2.ANALYSIS Q1.

9 total 62 62 ..From how long you are using life insurance of that company? 2years 13 % 20. Q4 .NICL etc.9 5 years 22 35. .72% people are aware about the insurance provide the bank and only 28% are not aware Q3.6 Above 10years 8 12.If yes then which life insurance or general insurance you are using ? a) life insurance policy (LIC) b) Reliance life insurance c)Bajaj insurance d)HDFC insurance e)Indiafirst life insurance f)general insurance.4 10 years 19 30.

what is time interval of your premium payment ? monthly 7 11. . Q5.6 total 60 % 63 . 13 % are using insurance from 2 years .6 Half yearly 1 1. 31% are using from 10 years.6 quaterly annually 52 86.Maximum people are using insurance from over last 5 years (35%).

it is very new company in compare to LIC.11.6% pay monthly and only 2% pay their premium half yearly and no one pay quaterly accoording to survey report.Reliance. lack of marketing strategy and the most important thing is Indiafirst in started in 2009 in November so.86% people pay their premium payment by annually according to their annual income.Are you aware about the insurance of policy of bank of baroda? yes 20 % 40 No 40 60 total 60 Only 33% people know about Indiafirst which is the joint venture of Bank of Baroda & legal & general & Andhra bank and 67% people don’t know about the Indiafirst insurannce due to lack of awareness . 64 . Q6 .Bajaj Allianz etc it takes time to capture the market.

Which features do you like or dislike of that product? a) saving plan b)future plan c)education plan d) term plan (which recently start under my training period) Q9.6 total 60 percentage 65 . If yes then which insurance policy you are using ? a) Indiafirt life insurance b)NICL Many people have opt general insurance like NICL and many go for Indiafirst insurance.Q7. Q8 . Have you taken insurance for your children ? yes 47 78.3 No 13 21.

Q10 . 66 .people who have age above 35 have taken insurance for their children.6 % face problem at the time of renewal because service provide by the bank of baroda is very good 83% are satisfy and happy. Do you face any problem at the time of renewal of your account in bank of baroda ? yes 10 16.3 total 60 % Only 16.6 No 50 83.78% people have taken insurance for their children for betterment of their future and 22% people have not taken insurance for their children according to their income .

Q11.More aggressive marketing strategy is required beacause very few people know about the Indiafirst life insurance even the customer who has account in Bank of Baroda from 20 years 67 . What are the problem do you face in bank of baroda (in terms of insurance) if any please specify ? Ans.lack of awareness b)lack of marketing strategy c) less door to door service d)less advertisement e) no one there to tell about information about the Indiafirt insurance. Q13 . Do you want to give any suggestion to bank of baroda in respect of service provide in isurance? Ans. Why life insurance so important for you? a) security b)rebate on tax c)life cover d)children education go ahead e) financial support to family Q12 .

they even don’t kow about the Indiafirst.Door to door service should be there . 68 . more advertisement and more awareness is required .

• Maximum people have opt insurance policy over 10 years of other company.FINDINGS: • Most of the people of ALLAHABAD know about the insurance policy provide by the bank . 69 .Reliance. • Age of above 35 years they have opt insurance policy for their children for her future • I found that very few people have taken INDIAFIRST life insurance policy due to less marketing . less advertisement . • Another reason is that INDIAFIRST is very new if we compare from other insurance company like LIC .RELIANCE.Many people have done LIC .Bajaja Allianz insurance. People opt for insurance due to : It make family secure Risk cover Tax benefits Finanacial support Investment • According to survey I collect 60 customer where I find that only 20% know about third party and 40% don’t know about about the INDIAFIRST LIFE INSURANCE. • • According to their income people have choose insurance policy .

proper marketing strategy should be plan.commercial add on T. SUGGESTION: • The first and the foremost suggestion which I would like to give is that there should more awareness of insurance policy of BANK OF BARODA . • Plan is good but marketing is not appropriate. • More advertisement by distributing pamphlets.No special employee is appoint who take care of INDIAFIRST OR NICL in different branches of ALLAHABAD. hodings. • One thing I would like to add that service provide by BANK OF BARODA is very good it observe by survey. • Door to door service.• No facility of door to door service.V like BARODA NEXT. 70 . • Recently BARODA NEXT is launch due to which life become easy for customer of BANK OF BARODA.

Then you have to catch others. Such thing we can say to customer for insurance. • INDIAFIRST insurance for different people . • Service of BANK OF BARODA is very good this feature can also use for convincing the people. 71 . Like savings plan is good for business Service people go for future plan . • It does not take any commission to customer for policy like LIC take.by using the goodwill of bank. • As we all know that BANK OF BARODA is third position among all bank . • First Bank of Baroda have to convince the old customer of account holder of Bank. this point also use for convincing the people. • They should identify the threats and challenges prevailing in the market and according to that they should form strategy to be more unique.they have more customer as compare to other bank they can easily attract more people for insurance .• More awareness • Proper marketing should be done for insurance policy of Bank of Baroda. they can also take education plan for their chidren.

CONCLUSIONS: Today organization are knowledge based and their success and survival depend on creativity .It need more innovative idea for marketing.Distribute more and more pamphlets etc. The rate of changes is accelerating rapidly . discovery and inventiveness. There are total 23 insurance players in the market selling insurance policy.People who above 35 years age have done insurance of different company.As you see there is huge potential in the market to cover lives through life insurance . By the help of survey I collected informaton that very few know about INDIAFIRST insurance policy due to lack of awareness. Creativity and innovation have a bigger role in this change process for survival.INDIAFIRST life insurance need aggressive marketing strategy because there is already major player exist in market like LIC .INDIAFIRST is started recently in Nov 2009 joint venture of bank of baroda & legal & general & andhra bank . as a new knowledge idea generation and global diffusion are increasing . Those who have 20-30 years old account holder in bank of baroda they even don’t know about the insurance policy .73% Average insurance life cover: less than Rs 10. In the developed countries life insurance contributes 8% to GDP .RELIANCE .INDIAFIRST have very good scheme .Good things about this insurance is it is associated with brand name BANK OF BARODA which is 100 years old bank 72 .which are very old also .000 In the era of globalisation . BAJAJ ALLIANZ etc. India’s population is more than one crore Insured population : 6.it has 6 plan which really very good the term plan started in my training period .As we know that insurance give • • • • Family security Systematic savings Tax benefits Investment I would like to conclude that third party product of BANK OF BARODA really needs aggressive marketing strategy . innovation .An effective reaction to these demands lead to innovative change in the organisation in order to to ensure their existence .95% know about the insurance basically people know more about LIC because it is very old and trustworthy company. while in India it is less than 2% of GDP. more advertisement. Today the life insurance is growing at CAGR of 35% and private player are growing at a CAGR of 125% .more awareness among people atleast those who have account in bank of baroda because already the big company is running in market like LIC .

people have faith on that. No need of commision as LIC agent take , no need to worry about the return of money.USP of this insurance is that it charge applicable under this policy

Year 1 2-3 4-10 11 onwards Top up

charge 20% 7% 3% 1% 2%

While other take 40%. If Bank of Baroda use good strategy for marketing of Indiafirst very soon it will capture whole market like LIC.It is started with 12000/• • • • • • • INDIAFIRST PLAN EDUCATION PLAN SAVINGS PLAN FUTURE PLAN TERM PLAN LIFE PLAN ANNUNITY PLAN

According to their income level and interest level people choose different plan MAIN AIM IS TO SECURE YOUR LIFE .

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REFRENCES:

• • • • •

www.Bank Of Baroda.Com Business Line news papaer www indiafirst.com www wekepidia .com Business line magazine

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ANNEXURE MOTILAL NEHRU NATIONAL INSTITUTE OF TECHNOLOGY QUESTIONNAIRE ON MARKETING STRATEGY OF THIRD PARTY IN GENERAL & NON LIFE PARTICULARS PRODUCT NAME-_________________________________ GENDER-_______________________________ PROFFESSION-___________________________ DESIGNATION-___________________________ 1.AGE-_____________________ 2.Do know about the insurance ? a) yes b) no

3.Are you aware about the insurance policy provide by the bank? a) yes b) no 4.If yes then which life insurance or general insurance you are using ?

5.From how long you are using life insurance of that company? a)2 years b)5years c)10 years d)above 10 years 6.what is time interval of your premium payment ? a)monthly b)quarterly c)annually d)half yearly 7.Are you aware about the insurance of policy of bank of baroda? a) yes b)no

8.If yes then which insurance policy you are using ? a) Indiafirst line insurance b) NICL (general insurance)

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9.Do you face any problem at the time of renewal of your account in bank of baroda ? a)yes b) no 12.Do you want to gave any suggestion to bank of baroda in respect of service provide in insurance? _____________________________________________________________________________ _____________________________________________________________________________ __ 76 .Why life insurance is so important for you? 13. .What are the problem do you face in bank of baroda (in terms of insurance) if any please specify? 14. Have you taken insurance for your children and family? a) yes b)no 11.Which features do you like or dislike of that product? _____________________________________________________________________________ _____________________________________________________________________________ _ 10.

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