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Summer Internship Project

Analysis of Product and Services of
Bank of Baroda
Bank of Baroda
(City light, Surat)

Submitted by:
Shreya Kejriwal

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I, Shreya Kejriwal, the undersigned, a Student of BK School of Business Management,
Ahmedabad (Full Time MBA-2013-15), hereby declare that the Project Report entitled
Analysis of Product and Services of Bank of Baroda is submitted in partial fulfillment of the
requirement for the summer internship project.
The project is undertaken as a part of Summer Internship Training during time period 19th May
to 12th July, 2014. The matter embodied in this project report has not been submitted elsewhere
by anybody for the award of any degree or diploma.

Shreya Kejriwal

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There are countless individuals who help us in making our journey of life successful and
enriching. As I resume towards the end of my summer training, I take this opportunity to thank
all those individuals who have contributed in one way or the other in making this journey of
mine successful and a great learning experience which will help me in my future endeavors.
First and foremost, I would like to thank my project guide, Mr. Satya Narain Sharma, Chief
Manager, City Light Branch, Bank of Baroda, Surat for not only providing me with invaluable
advice and guidance to carry on with my project work, but also motivating me throughout my
training period. He supported me continuously with his valuable knowledge and experience in
the successful completion of the project.
I also take this opportunity to thank all other staff members of City Light Branch for their co-
operation and support.
Finally I would like to thank all those who have either directly or indirectly contributed in the
completion of my project.

Shreya Kejriwal

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Table of Contents

1. Declaration 2
2. Acknowledgement 3
3. Executive summary 5
4. Introduction to industry 6
5. Company profile 13
6. Product and services of Bank of Baroda 25
7. Research methodology 47
7.1 Objective of the study 48
7.2 Type of research 48
7.3 Sampling plan 49
7.4 scope of study 50
7.5 Limitations of study 51
8. Data analysis and interpretation 52
9. Facts and findings 64
10. My Learning 65
11. Conclusion 66
12. Recommendations and suggestions 68
13. Bibliography 69
14. Annexure: questionnaire 70

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Executive summary
Bank of Barodas principal activities are to provide banking and related services through 4,873
branches in India and 93 overseas branches. The services include accepting deposits, commercial
and institutional credit, project finance, treasury, Forex, investment and risk management and
other related financial services. As a part of my M.B.A curriculum I have taken my summer
training in Bank of Baroda (City light branch, Surat).
The report title is Analysis of Product and Services of Bank of Baroda. The report gives an
overview of the banking Sector- introduction to the industry, present status and future of banking
sector and major reforms made in this sector and company profile- SWOT analysis, business
overview, various initiatives taken by bank. And awareness of customers about different types of
products and services offered by Bank of Baroda. This study was conducted to find out the
customer satisfaction regarding Bank of Baroda.
Report also contains information about products and services of Bank of Baroda which gives a
brief idea regarding the operations of the Bank.
The report is supported by figures and data wherever necessary with a view to assist in
developing a clear cut understanding of the topic.
Findings, conclusion and recommendations for the bank are also there which are made after a
depth study of the analysis part of thesis.
For this a mixed approach- a combination of quantitative and qualitative approach is used. The
nature of the study is primarily analytical though specific portions of the study are descriptive in
nature. The data is collected from various secondary sources like bank policies, websites etc. and
some primary sources too. The findings are based on structured interviews with the bank
customers. The views of these people are used to find out the need, scope, issues and challenges
relating to product and services of Bank of Baroda.
During the project, I was fortunate to have the learning and experiences such as: practical
application of theory, understanding work and organizational culture, interacting with different
stakeholders of the Bank, improvement in communication and soft skill, and many more.
Overall, it was an enriching experience.

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Bank may be defined as a financial institution which is engaged in the business of keeping
money for savings and maintaining accounts and issuing loans & credit etc. A set of services
intended for private customers and characterized by a higher quality than the services offered to
retail customers.

Based on the notion of tailor-made services, it aims to offer advice on investment,
inheritance plans and provide active support for general transactions and the resolution of asset-
related problems.

The essential function of a bank is to provide services related to the storing of deposits and the
extending of credit. Basic function may include Credit collection, Issuer of banking notes,
Depositor of money and lending loans.

Now a days banking is not in its traditional way, with the advancement of technology its
focusing on more comfort of customer providing services such as:

Online banking
Investment banking
Electronic banking
Internet banking
Pc banking/mobile banking

The importance of banking sector is immense in the progress and prosperity of any State
or country.

Banking in India

Without a sound and effective banking system in India it cannot have a healthy economy. The
banking system of India should not only be hassle free but it should be able to meet new
challenges posed by the technology and any other external and internal factors. For the past three
decades India's banking system has several outstanding achievements to its credit. The most
striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in
India. In fact, Indian banking system has reached even to the remote corners of the country. This
is one of the main reasons of India's growth process.

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A brief history

Banking in India originated in the last decades of the 18th century. The oldest bank inexistence
in India is the State Bank of India, a government-owned bank that traces its origins back to June
1806 and that is the largest commercial bank in the country. Central banking is the responsibility
of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the
then Imperial Bank of India, relegating it to commercial banking functions. After India's
independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the
government nationalized the 14 largest commercial banks; the government nationalized the six
next largest in 1980.

Currently, India has 69 scheduled commercial banks (SCBs) - 27 public sector banks (that is
with the Government of India holding a stake), 23 private banks (these do not have government
stake; they may be publicly listed and traded on stock exchanges) and 30
foreign banks. They have a combined network of over 1,00,000 branches and 50,000ATMs. Acc
ording to a report by ICRA Limited, a rating agency, the public sector banks hold over
75 percent of total assets of the banking industry, with the private and foreign banks
holding18.2% and 6.5% respectively.

From World War I to Independence:

The period during the First World War (1914-1918) through the end of the Second World
War (1939-1945), and two years thereafter until the independence of India were challenging for
Indian banking. The years of the First World War were turbulent, and it took its toll with banks
simply collapsing despite the Indian economy gaining indirect boost due to war-related economic
activities. At least 94 banks in India failed between 1913 and 1918.


The partition of India in 1947 adversely impacted the economies of Punjab and West
Bengal, paralyzing banking activities for months. India's independence marked the end of a
regime of the Laissez-faire for the Indian banking. The Government of India initiated measures
to play an active role in the economic life of the nation, and the Industrial Policy Resolution
adopted by the government in 1948 envisaged a mixed economy.This resulted into greater involv
ement of the state in different segments of the economy including banking and finance. The
major steps to regulate banking included:
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In 1948, theReserve Bank of India, India's central banking authority, was nationalized, and
it became an institution owned by the Government of India.

In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of
India (RBI) "to regulate, control, and inspect the banks in India."

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, and no two banks could have common
However, despite these provisions, control and regulations, banks in India except the State Bank
of India, continued to be owned and operated by private persons. This changed with the
nationalization of major banks in India on 19 July, 1969.

Nationalization of Banks

Banking System in India is dominated by nationalized banks. The nationalization of banks in
India took place in 1969 by Mrs. Indira Gandhi the then prime minister. The major objective
behind nationalization was to spread banking infrastructure in rural areas and make available
cheap finance to Indian farmers. Fourteen banks were nationalized in 1969. Before 1969, State of
India (SBI) was only public sector bank in India. SBI was nationalized in 1955 under the SBI
Act of 1955. The second phase of nationalization of Indian banks took place in the year 1980.
Seven more banks were nationalized with deposits over 200 crores.

Private Banks
All the banks in India were earlier private banks. They were founded in the pre-independence era
to cater to the banking needs of the people. But after nationalization of banks in 1969 public
sector banks came to occupy dominant role in the banking structure. Private sector banking in
India received a fillip in 1994 when Reserve Bank of India encouraged setting up to private
banks as part of its policy of liberalization of the Indian Banking Industry. Housing Development
Finance Corporation Limited (HDFC) was amongst the first to receive an In principle approval
from the Reserve Bank of India (RBI) to set up a bank in the private sector. Private Banks have
played a major role in the development of Indian banking industry. They have made banking
more efficient and customer friendly. In the process they have jolted public sector banks out of
complacency and forced them to become more competitive.
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Growth and Present Status of Banks

In the early 1990s, the then Narsimha Rao Government embarked on a policy of liberalization,
licensing a small number of private banks. These came to be known as New Generation tech-
savvy banks, and included Global Trust Bank (the first of such newgeneration banks to be set
up), which later amalgamated with Oriental Bank of Commerce, Axis Bank (earlier as UTI
Bank ), ICICI Bank and HDFC Bank . This move, along with the rapid growth in the economy of
India, revitalized the banking sector in India, which has seen
rapid growth with strong contribution from all the three sectors of banks, namely, government
banks, private banks and foreign banks.
The revenue of Indian banks grew four-fold from US$ 11.8 billion to US$ 46.9 billion, whereas
the profit after tax rose nearly nine-fold from US$ 1.4 billion to US$ 12 billion over 2001-105.
This growth was driven primarily by two factors. First, the influx of Foreign Direct Investment
(FDI) of up to 74 per cent with certain restrictions. Second, the conservative policies of the
Reserve Bank of India (RBI), which have shielded Indian banks from recession and global
economic turmoil.
Currently, banking in India is generally fairly mature in terms of supply, product range and
reach-even though reach in rural India still remains a challenge for the private sector and foreign
banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have
clean, strong and transparent balance sheets relative to other banks incomparable economies in
its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the
government. The stated policy of the Bank on the Indian Rupee is to manage volatility but
without any fixed exchange rate-and this has mostly been true. With the growth in the Indian
economy expected to be strong for quite some time-especially in its services sector-the demand
for banking services, especially retail banking, mortgages and investment services are expected
to be strong. One may also expect takeovers and asset sales.

Future of Banking Sector and Initiated Reforms

Financial sector reforms were initiated as part of overall economic reforms in the country and
wide ranging reforms covering industry, trade, taxation, external sector, banking and financial
markets have been carried out since mid-1991. A decade of economic and financial sector
reforms has strengthened the fundamentals of the Indian economy and transformed the operating
environment for banks and financial institutions in the country. The sustained and gradual pace
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of reforms has helped avoid any crisis and has actually fuelled growth. The most significant
achievement of the financial sector reforms has been the marked improvement in the financial
health of commercial banks in terms of capital adequacy, profitability and asset quality as also
greater attention to risk management. Further, deregulation has opened up new opportunities for
banks to increase revenues by diversifying into investment banking, insurance, credit cards,
depository services, mortgage financing, securitization, etc. At the same time, liberalization has
brought greater competition among banks, both domestic and foreign, as well as competition
from mutual funds, NBFCs, post office, etc. Post-WTO,
competition will only get intensified, as large global players emerge on the scene. Increasing
competition is squeezing profitability and forcing banks to work efficiently on shrinking spreads.
Positive fallout of competition is the greater choice available to consumers, and the increased
level of sophistication and technology in banks. As banks benchmark themselves against global
standards, there has been a marked increase in disclosures and transparency in bank balance
sheets as also greater focus on corporate governance.

Major Reforms in Banking Sector

Some of the major reform initiatives in the last decade that have changed the face of the Indian
banking and financial sector are:

Interest rate deregulation. Interest rates on deposits and lending have been deregulated with
banks enjoying greater freedom to determine their rates.

Adoption of prudential norms in terms of capital adequacy, asset classification, income
recognition, provisioning, and exposure limits, investment fluctuation reserve, etc.

Reduction in pre-exemptions lowering of reserve requirements (SLR and CRR), thus
releasing more lendable resources which banks can deploy profitably. Government equity
in banks has been reduced and strong banks have been allowed to access the capital market
for raising additional capital.

Banks now enjoy greater operational freedom in terms of opening and swapping of
branches, and banks with a good track record of profitability have greater flexibility in

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New private sector banks have been set up and foreign banks permitted to expand
their operations in India including through subsidiaries. Banks have also been allowed to
set up Offshore Banking Units in Special Economic Zones.

New areas have been opened up for bank financing: insurance, credit cards, infrastructure
financing, leasing, gold banking, besides of course investment banking, asset management,
factoring, etc.

New instruments have been introduced for greater flexibility and better risk management:
e.g. interest rate swaps, forward rate agreements, cross currency forward
contracts, forward cover to hedge inflows under foreign direct investment, liquidity
adjustment facility for meeting day-to-day liquidity mismatch.

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Bank of Baroda (BoB) is an Indian state-owned banking and financial services company
headquartered in Vadodara in Gujarat, India. It is the second-largest bank in India, after State
Bank of India, and offers a range of banking products and financial services to corporate and
retail customers through its branches and through its specialized subsidiaries and affiliates.
During FY 2013-14, its total business was 9,659 billion. In addition to its headquarters in its
home state of Gujarat, it has a corporate headquarters in the Bandra Kurla Complex in Mumbai.
Based on 2014 data, it is ranked 801 on Forbes Global 2000 list. BoB has total assets in excess
of 6,595 billion, a network of 4966 branches (out of which 4873 branches are in India) and
offices, and over 5000 ATMs.
Growing its presence across new regions and strengthening its equity in existing markets, Bank
of Baroda is on the path to establish itself round the clock around the globe.' The bank is
exploring out-of-the-box means to identify new ways to tailor its growing repertoire of products
and services to meet segment-specific requirements across regions. Automation-led process and
cost optimization, orchestration of the offices network, and greater attention to compliance with
global regulations are aggressively being focused on to help the bank achieve its ambitious goals.
Bank of Baroda is gearing to leverage the opportunities that a globalized era presents and
devising nimble ways to skirt its threats. The bank is now charting a coherent strategy to not just
cope but break new ground and emerge with the winning edge in the changing global business
Bank of Baroda is amongst first in the industry to complete an all-inclusive rebranding exercise
wherein various novel customer centric initiatives were undertaken along with the change of
logo. The initiatives include setting up of specialized NRI Branches, Gen-Next Branches and
Retail Loan Factories/ SME Loan Factories with an assembly line approach of processing loans
for speedy disbursal of loans.
Ever since its rebranding in 2005, Bank has consistently promoted its major strengths viz. large
international presence; technological advancement and superior customer service etc. Bank had
introduced the sub brand BARODA NEXT-State of the Art-Straight from the Heart to showcase
how it has utilized technology to nurture long term relationships for superior customer
experience. The sub brand has been reinforced by alternate delivery channels such as internet
banking, ATMs, mobile banking etc. and robust delivery outfits like Retail Loan Factories, SME
Loan Factories, and City Sales Office etc. Banks constant endeavor to strengthen its
branch/ATM network combined with well-informed staff offering personalized service at its
various touch points have enhanced customer interactions and satisfaction. Thus the Bank has
firmly positioned itself as a technologically advanced customer-centric bank.

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History of the Bank
It all started with a visionary Maharajas uncanny foresight into the future of trade and
enterprising in his country. On 20th July 1908, under the Companies Act of 1897, and with a
paid up capital of Rs 10 Lacs started the legend that has now translated into a strong, trust
worthy financial body, THE BANK OF BARODA.
It has been a wisely orchestrated growth, involving corporate wisdom, social pride and the vision
of helping others grow, and growing itself in turn.
The founder, Maharaja Sayajirao Gaekwad, with his insight into the future, saw "a bank of this
nature will prove a beneficial agency for lending, transmission, and deposit of money and will be
a powerful factor in the development of art, industries and commerce of the State and adjoining
These words are etched into the mind, body and soul of what has now become a banking legend.
Following the Maharajas words, the emblem has been crafted to represent wealth, safety,
industrial development and an inclination to better and promote the countrys agrarian economy.
This emblem shows a coin, symbolizing wealth, embossed with an upraised palm, a safety
cover for the depositors money, 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.
Between 1913 and 1917, as many as 87 banks failed in India. Bank of Baroda survived the crisis,
mainly due to its honest and prudent leadership. This financial integrity, business prudence,
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 decisions would be effected. This
cardinal philosophy was over the 94 years of its existence, to become its biggest asset. It ensured
that the Bank survived the Great War years. It ensured survival during the Great Depression.
Even while big names were dragged into the Stock Market scam and the Capital Market scam,
the Bank of Baroda continued its triumphant march along the best ethical practices.
No history is complete without mention of its heroes, mostly ordinary people, who turn in extra-
ordinary performances and contribute to building an institution. Over the years, there have been
thousands of such people. The Bank salutes these "unknown soldiers" who passionately helped
to create the legend of Bank of Baroda.
There were also the leaders, both corporate and royal, who provided the vision and guided the
Bank through trail blazing years, and departing, left behind footprints on the sands of time. This
Roll of Honor will be incomplete without mention of men, of the stature of Maharaja Sayajirao
Gaekwad, Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and
NM Chokshi.

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Mission Statement
To be a top ranking National Bank of International Standards committed to augmenting stake
holders' value through concern, care and competence.

Business Strategy
Focusing upon customer needs and preferences and fulfilling them in a cost effective
manner by leveraging strong technology platform
Attain a well balanced growth in its loan book across different sectors like retail, SME,
agriculture, wholesale etc. and across different geographies
Further strengthen its systems for credit origination and monitoring
Maintain a high provision coverage ratio to protect the quality of its asset portfolio from
any downside growth risks
Develop innovative products and services that attract targeted customers and address
inefficiencies in the Indian financial sector
Back office functions moved to hub, so branch staff can spend time with customers

SWOT Analysis
Well diversified branch distribution
One of the biggest names in public sector banking
CBS implementation in its branches
Strong concentration in the western region makes sure that it is CASA rich
Better focus on international market
Strong asset quality with healthy coverage ratio
Improvement on the ROE margins in the last fiscal year
International presence adds to the credibility
Lesser branches across the country when compared with SBI and PNB
Inadequate talent pool to compete with strong private banks
Late on introducing latest products in the market
Lesser strategic initiatives as compared to larger private banks
Due to focus on international branches, local focus sometimes gets diluted
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International branches give scope to expand in other economies
Expansion in the rural areas to include the unbanked and under banked
BoB Caps can contribute more to the revenues
Cost to Income could improve in coming years
Scope to improve non-interest income
Focus more aggressively on retail banking

New banking licenses by RBI
NPA levels could rise as there is over reliance on corporate and SMEs.
Contribution from the foreign business of the bank is around 25% on the bottom line
Foreign banks

Business Description
The bank offers a wide array of customized and specialized services to meet the diverse needs of
its customers, and these services have been categorized into Personal Banking, Business
Banking, Corporate Banking, International Banking, Treasury Banking and Rural Banking
services. The company offers fixed, current, and savings deposits; and home loans, mortgage
loans, advance against securities, education loans, auto loans, term finance, small scale industries
and SME loans, traders loans, working capital, export and import finance, bill finance, bridge
loans, project finance, and infrastructure finance.

BOB Capital Markets Ltd.
Nainital Bank Ltd.

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Bank of Baroda (Botswana) Ltd.
Bank of Baroda (Kenya) Ltd.
Bank of Baroda (Uganda) Ltd.
Bank of Baroda (Guyana) Ltd.
Bank of Baroda (New Zealand) Ltd
Bank of Baroda (Tanzania) Ltd
Bank of Baroda (Trinidad & Tobago) Ltd.
Bank of Baroda (Ghana) Ltd.

Business overview
An overview of various business segments
Retail Banking
Bank of Baroda has developed a strong retail banking franchise over the years. Retail Banking is
one of the key drivers of the Banks growth strategy and it encompasses a wide range of products
delivered to customers through multiple channels. The Bank offers a complete suite of products
across deposits, loans, investment solutions, payments and cards to help customers achieve their
financial objectives. The Bank focuses on product differentiation as well as a high level of
customer-service to enable it to build its retail business.
The Bank has continued to develop its risk management capabilities in Retail business, both
from a credit and operations risk standpoint. The branch channel is effectively utilized for
growing the retail assets business, with loan and card products being offered to existing clientele.
The growth areas identified by the Bank are in the areas of residential mortgages and passenger
car loans. Of the total retail loans portfolio, 57.47% is in the form of secured loans (residential
mortgages and auto loans).
The Bank offers a wide range of payment solutions to its customers in the form of debit cards,
prepaid cards and credit cards. As on 31st March 2014, the Bank has a base of approximately
99,000+ debit cards, placing it among the leading players in the country. The Bank also
distributes third party products such as mutual funds, Bank assurance products (life and general
insurance), online trading, and Gold and Silver coins through its branches.
The retail business of the Bank is supported by innovative services and alternate channels which
provide convenience of transactions to customers. These channels include an extensive ATM
network, internet banking, mobile banking and phone banking.
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International Retail
International Retail Business focuses specifically on the overseas sales channel, retail foreign
exchange business, remittances and retail businesses in overseas centers such as Hong Kong and
Singapore, where the Bank has a presence. The products offered in the area of retail Forex and
remittances include travel currency cards, inward and outward wire transfers, travelers cheques
and foreign currency notes, remittance facilities through online portals as well as through
collaboration with correspondent banks, exchange houses and money transfer operators.

Business Banking
Business Banking leverages the Banks strengths a well distributed network of branches and a
strong technology platform to offer the best in transaction banking services. The Bank offers a
range of current account products and cash management solutions across all business segments
covering corporates, institutions, central and state government ministries and undertakings as
well as small and retail customers.
The Bank is one of the top CMS providers in the country. The Bank acts as an agency bank for
transacting government business offering services to various Central Government Ministries /
Departments and other State Governments and Union Territories. In order to provide solutions
for business to effectively manage their funds flow, the Bank has introduced liquidity
management solution for corporate customers. Similarly, a single window for all payment
requirements was launched with several advanced features such as setting a daily transaction
limit for corporate users, setting transaction limits for individual beneficiaries, prioritizing
payment methods, online stop payment and cancellation facilities.

Corporate Credit
Bank of Baroda has built a strong corporate banking franchise across corporate, liability and
asset businesses. Bank provides customized structuring and financing solutions in a timely and
comprehensive manner to its corporate customers with a focus on building out a high quality
credit portfolio. The Bank is among market leaders in Debt Capital Markets and loan syndication
business across segments, sectors and geographies. The Bank also provides full range of
Treasury and Trade Finance solutions to its corporate clients. The Bank offers technology
enabled transaction banking and cash management services to customers across Government,
financial institutions and corporate segments. Banks infrastructure business includes project and
bid advisory services, project lending, debt syndication, project structuring and due diligence,
securitization and structured finance.
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The Bank has an integrated Treasury, covering both domestic and global markets, which
manages the Banks funds across geographies. The Banks treasury business has grown
substantially over the years, gaining market share and continuing to be among the top five banks
in terms of forex revenues. The Treasury plays an important role in the sovereign debt markets
and participates in the primary auctions held by RBI. It also actively participates in the secondary
government securities and corporate debt market. The foreign exchange and money markets desk
is an active participant in the inter- bank/ FI space. The Bank has been exploring various cross-
border markets to augment resources and support customer cross-border trade. The Bank has
emerged as one of the leading providers of foreign exchange and trade finance services. It
provides a gamut of products for exports and imports as well as retail services. Its cutting edge
technology provides comprehensive and timely customer services.

International Banking
The international operations of the Bank form a key enabler in its strategy to partner with the
overseas growth potential of its domestic clientele, who are venturing abroad or require non-
rupee funds for domestic projects. The Bank now has a foreign network of branches in 14 other
countries, which include Bahamas, Bahrain, Belgium, China, Fiji Islands, Hong Kong,
Mauritius, Republic of South Africa, Seychelles, Singapore, Sultanate of Oman, United Arab
Emirates, United Kingdom and United States of America and tree representative offices
(Australia, Malaysia and Thailand.) While corporate banking, trade finance, treasury and risk
management solutions are the primary offerings, the Bank also offers retail liability products
Further, the Banks alliances with banks and exchange houses in the Middle East provide the
support for leveraging the business opportunities emanating from the large NRI Diaspora present
in these countries.

Small and Medium Enterprises
The Small and Medium Enterprises (SME) segment is a thrust area of the Bank. The business
approach towards this segment, which is expected to contribute significantly to economic growth
in future, is to build relationships and nurture the entrepreneurial talent available. The
relationship based approach enables the Bank to deliver value through the entire life cycle of
SMEs. The Bank has segmented its SME business in three groups: Small Enterprises, Medium
Enterprises and Supply Chain Finance. The Bank extends working capital, project finance as
well as trade finance facilities to SMEs.

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Information Technology
Technology is one of the key enablers for business and delivery of customized financial
solutions. The Bank continues to focus on introducing innovative banking services through
investments in scalable and robust technology platforms that delivers efficient and seamless
services across multiple channels for customer convenience and cost reduction. The Bank has
also focused on improving the governance process in IT.
The Bank has undertaken various steps in order to align itself towards RBI guidelines on security
and governance, including setting up of Board and Executive level committees and working on
IT operations and other key areas.

The Bank continues to drive and expand the flow of credit to the agricultural sector. More than
400 branches of the Bank have dedicated officers for providing farm loans. Products and
solutions are created specifically with simple features and offered at affordable rates to rural
customers. The Bank has also adopted a value-chain approach, wherein end-to-end solutions are
being provided for various stakeholders. It also offers various customized solutions to meet the
regional requirements.

The Bank aims in creating and developing human capital to realize its vision of nurturing a
mutually beneficial relationship with its employees. Employee engagement and learning,
leadership development, enhancing productivity and building multiple communication platforms
thus occupied center stage in the Banks HR objective. The Bank continues to maintain a strong
employer brand in the financial services sector especially on the campuses of the premier
business schools of the country. Bank of Baroda has a middle age workforce with an average age
of 46 years.

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Various initiatives taken up by the Bank

Strategic initiative
The Banks focus was optimize human resource management in a highly motivating work
environment, rawing maximum mileage out of the available Information Technology and
imbibing a full-fledged marketing culture to promote a sense of professionalism in approach and
attitude. BOB completed Core Banking Solution (CBS) rollout in 4,952 domestic branches
covering 94% of its business as at 31st March, 2014.
The Bank launched several new IT products and services such as Phone Banking, Corporate
Cash Management System, Payment Messaging Solution and Global Treasury.
The Bank took many initiatives introducing new products both on assets and liability sides such
as Loan for Earnest Money Deposit, Baroda Additional Assured Advance to NRIs, Baroda
Bachat Mitra etc.
In its role as a partner to the rural development, the Bank, besides meeting all its credit
deployment targets, established four Baroda Swarojgar Vikas Sansthan for imparting training to
the unemployed youth and facilitating their gainful self-employment.
It organized awareness programmes for SME borrowers to educate them about various products,
services and precautionary steps to be taken in view of global financial crisis.

Marketing Initiatives
The mid-eighties marked the beginning of the shift to a buyers` market. The Bank orchestrated
its business strategies around the centrality of the customer. It diversified into areas of merchant
banking, housing finance, credit cards and mutual funds. A string of segment specific branches
entrenched operations in the profitable markets. Overseas operations were revamped and
structural changes intensified in the territories to cater to second generation NRIs. Slowly but
surely, the move to become a one stop financial supermarket had been set in motion. Service
delivery standards were stipulated.
Technology was adopted to add punch. Employees across the board were inculcated with the
marketing concept. Aggressive marketing became the new business philosophy.

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Quality Initiatives
In its relentless striving for quality perfection, the Bank secured the ISO 9001:2000 certifications
for 15 branches. By end of the current financial, the Bank is targeting 54 more branches for this
quality certification.

People Initiatives
Bank of Baroda has always had an immense faith in the infinite potential of its people. This has
been historically demonstrated in its recruitment practices, developmental initiatives, placement
processes and promotion policies. Strategic HR interventions like, according cross border and
cross cultural work exposure to its managers, hiring diverse functional specialists to support line
functionaries and complementing the technical competencies of its people by imparting
conceptual, managerial and leadership skills, gave the Bank competitive advantage. The
elaborate man management policies also made the Bank a breeding ground for business leaders.
The Bank provided around a dozen CEOs to the industry- men who went on to build other great
institutions. People initiatives were blended with IR initiatives to create an effectively
harmonious workplace, where everyone prospered.

Financial Initiatives
New norms for capital adequacy required new capital management strategies. In 1995 the Bank
raised Rs 300 crores through a Bond issue. In 1996 the Bank tapped the capital market with an
IPO of Rs 850 crores, despite adverse market conditions prevailing then, the issue was
oversubscribed, reflecting the positive public perception of the Banks fundamental financial

Digital Initiatives
Bank of Baroda pioneered the shift from manual operating systems to a computerized work
environment. Starting with ledgers, to ledger posting machines, through ALPMs, the Bank
graduated to the use of Unix based systems to Mainframes, to client server based Total Branch
Mechanization Systems. Today, the Bank has 3918 computerized branches, covering 75% of its
network and 91.64% of its business. Alive to the growing complexities of an intensely
competitive marketplace and the mounting expectations of customers fuelled by this competition,
the Bank reworked its distribution strategy. It ventured beyond the brick and mortar delivery
channel into ATMs and the OmniBOB range of anytime, anywhere electronic channels of PC
24 | P a g e

banking, telephone banking. The e-banking products used state of the art technologies like digital
certificates, smart card authentication and secure networking.
The new IT strategy, in the process of implementation will see the deployment of Core Banking
Systems, Multi Service Transaction Switch, Payment Gateways - all geared to deliver
convenience banking.

Corporate Social Responsibility (CSR) Initiatives
Bank has always upheld inclusive growth high on its agenda. Bank has established 36 Baroda
Swarojgar Vikas Sansthan (BSVS) for imparting training to unemployed youth, free of cost for
gainful self-employment & entrepreneurship skill development and 52 Baroda Gramin
Paramarsh Kendra and for knowledge sharing, problem solving and credit counseling for rural
masses across the country. Bank has also established 18 Financial Literacy and Credit
Counseling Centers (FLCC) in order to spread awareness among the rural masses on various
financial and banking services and to speed up the process of Financial Inclusion.

The Future
Revolutionary and discontinuous changes in the operating environment are a stark reminder that
business success is impermanent. The emergence of IT as a major driver for change, has
accentuated the need to initiate a major transformation program. The conversion to an IT savvy,
market driven bank will be a prerequisite to survival and growth. A major and strategic step in
hi-tech, was the establishment of the Integrated Treasury branch, as a forerunner to full-fledged
global treasury operations. Towards creating a future Bank of Baroda, the Bank has adopted a
revolutionary new business strategy that will be enabled by a revolutionary new IT strategy.
Actioning this strategy will position Bank of Baroda as Indias uncontested premier bank.
At Bank of Baroda, change is a journey. It has a beginning. There will be no end. It will be a
long and difficult march. And the Bank will emerge stronger, more resilient and positioned to
become Indias first bank of truly global standards. The relocation to the imposing Baroda
Corporate Centre is a true reflection of the Banks resolves to move ahead of the times. It will not
be out of place now, as it stands on the threshold of a digital era, to echo the same sentiments that
guided the Bank in its platinum jubilee year - a promising future is the sequel to a glorious past.

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Product and
Bank of

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Bank of Baroda offers its services majorly in six parts:
A. Personal Banking
B. Business Banking
C. Corporate Banking
D. International Banking
E. Treasury Banking
F. Rural Banking

A. Personal Banking

1. Deposits offered by Bank of Baroda:

a) Fixed Deposits

Bank of Baroda offers simple Fixed Deposits (at very competitive interest rates), which can be
opened with a minimum investment of Rs 1,000. The tenure of their deposit must be a minimum
of 7 days for deposit amount of Rs.100/- lacs and above & minimum 15 days for amounts less
than Rs.100/- lacs. Fixed deposit accounts can be opened with instructions payable to 'either or
Survivor, payable jointly, payable to any one of the depositors etc. Following fixed deposit
schemes are offered by bank:
As Recurring Deposits:

o Recurring Deposit
o Baroda Samriddhi Quarterly Recurring Deposit
o Baroda Samriddhi Half Yearly Recurring Deposit
o Yatha Shakthi Jama Yojana

For Deposits up to 12 months:

o Short Deposits

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For Deposits over 12 months:

o Baroda Double Dhamaka Fixed Deposit
o Monthly Income Plan
o Quarterly Income Plan
o Half Yearly Income Plan
o Regular Income Cum Recurring Deposit
o Capital Gain Account Scheme, 1988

b) Current Deposits

Current Deposits product is ideal for firm, companies, institutions, HUF, individuals etc., who
need banking facility more frequently and provides flexibility through overdraft facility. This is
one of the most basic and flexible deposit options, allowing transaction without limiting the
numbers. Bank of Baroda's Current Deposits are the back-bone of all trading activities.
Following current account options are available:

o Baroda Advantage Current Account
o Baroda Premium Current Account (BPCA)
o Baroda Premium Current Account-Privilege (BPCAP)

c) Savings Deposits
Depending on the nature of the account and the governing terms and conditions, Bank of
Baroda offers following Savings Accounts:
o Baroda Centenary Savings Account
o Savings Bank Account
o Super Savings Account
o Baroda Basic Savings Ac
o Baroda Salary Advantage Saving Account
o Baroda Bachat Mitra

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2. Gen-Next services offered by Bank of Baroda:

a) Gen-Next Junior

This is a Special kind of Savings Bank Deposit product for children upto 18 years of age to be
made available in Gen-Next Pune branch. Account will be operated by the customers using
withdrawal slip, Cheque leaves, Standing instruction, ECS (debit), Debit Card, Internet banking
facility etc. Interest rate, periodicity and method of application of interest will be similar to usual
Savings Bank a/c. The other provisions like transfer to dormant, in operative etc. will be same as
applicable to usual Savings Bank a/c.

b) Gen-Next Lifestyle

It is a term loan(combo pack) for purchase of Home Furnishings / Consumer Durable goods
(includes color T.V., video camera / refrigerator / washing machine / music system / air-
conditioners / cooking system etc.), vehicle(two wheeler and four wheeler), laptop/pc or any
other electronic gadget. Minimum age to apply is 21 years and maximum age is 45 years.

c) Gen-Next Power

This is a special Savings Deposit product having an in built feature of overdraft facility to be
available at Gen-Next Pune branch. The product is targeted to working executives and other
working professionals. There is no minimum balance requirement in the account and as such no
service charges shall be levied towards this.
Other Features
Anywhere banking facility.
Personalized Debit Card.
Free Internet Banking facility.
Travel, Investment and FOREX Support.
Free Demat Account opening.
e - Trading facility available.
Free NEXT GEN GOLD Credit Card with Add on card for spouse (As per eligibility
criteria fixed by BOB Cards Ltd.).

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d) Gen-Next Suvidha

This is a Recurring Deposit product enabling the customer to make regular savings on monthly
basis and earn higher interest. Gen-next Suvidha Account can be opened with monthly
installments of Rs.100/- or above & in multiples thereof with a maximum of Rs.10, 000/- per

3. Loan services offered by Bank of Baroda:

Home Loan
Home Loans to NRIs / PIOs
Home Improvement Loan
Interest Subsidy Scheme for Housing The Urban Poor (ISHUP)
Loan Against Future Rent Receivables
Mortgage Loan
Advance Against Securities
Education Loan
Baroda Career Development Loan
Auto Loan
Two Wheeler Loan
Car Loan to NRI
Traders Loan
Loan to Doctors
Baroda Ashray (Reverse Mortgage Loan)
Personal Loan
Baroda Advance Against Gold Ornaments /Jewellries (At Urban & Metro Centres)
Loan for financing Individuals for subscription to Public Issues /IPO
Baroda Additional Assured Advance (AAA) (Resident / NRIs /PIOs)
Baroda Traders Loan Against the Security of Gold Ornaments /Jewellries (At Urban &
Metro Centres)
Credit Risk Guarantee Fund Scheme for Low Income Housing (CRGFS)
Baroda Traders Gold Card Scheme
Baroda Premium Personal Loan

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4. Credit Cards offered by Bank of Baroda:

a) BOBCARD Signature (Visa)

BOBCARD presents these premium cards to offer its gratitude to the High Net worth
Individuals. Exclusively designed, these cards are packed with great features and benefits. So,
get your signature Visa today and be a part of the evolution.

b) BOBCARD Platinum (Visa, Master & Assure)

Bob card Platinum Credit Cards are designed to suit lifestyle and stature and to empower the
distinction and recognition you desire. Its inbuilt offers and privileges bring elegance to your life
at ease.

c) BOBCARD Titanium (Master)

Bobcard Titanium is an innovation to take you beyond the boundaries of Classic & Gold Cards.
It is a value-added, distinctive credit card that brings together exclusive MasterCard privileges
with inherited economy and suite of Bobcards. This card is guaranteed to assist you to transform
your lifestyle in the most cost effective manner.

d) Co-Branded Card

Bobcard BBA cobranded Platinum Credit Card is an attempt to pay gratitude to enduring and
enriching relationship of Bank of Baroda and Bombay Bullion Association over several years.
The card is exclusively designed for BBA members. Its distinctive features, benefits and
privileges give an extra mileage to BOB BBA relationship.

5. Debit Cards offered by Bank of Baroda:

a) Baroda Vision Electron

Baroda Visa Electron Debit Card is an ideal choice for your requirement of performance,
simplicity, flexibility, and worldwide recognition. For securing hotel reservations, buying books
online, or making everyday purchases Baroda Electron, offers value proposition, reliable form of
payment, recognized in more than 170 countries around the globe.
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b) Baroda Maestro

Baroda Maestro meets the growing requirement of enhanced security in debit card usage and
creates customer confidence. In this card, authorization happens through Personal Identification
Number, even for shopping transactions, similar to ATM transaction. The card is issued in
affiliation with Master Card and is usable at any ATM/ Merchant outlet having MasterCard logo
and NFS member bank ATMs in the country. Baroda Maestro card is an International debit card
which can be used within the country and abroad.

c) Baroda Master Card Combi Gold

Baroda Master Card Combi Gold, a golden choice for our premium customers, which is
envisaged to meet their requirement of higher spend/cash withdrawal. The card is issued in
affiliation with Master Card and is usable at any ATM/ Merchant outlet having MasterCard logo
and NFS member bank ATMs. The card makes merchant and online shopping very convenient
and safe. Baroda Gold debit card is usable within India and abroad.

d) Baroda Visa Platinum

Baroda Visa Platinum is an exclusive offer for all our esteemed customers allows higher
spending power, more cash withdrawal limits apart from a host of offers extended by Visa
International and Bank. A true privileged class experience.

e) RuPay Debit Card

It can be used only with PIN hence a more secured debit card. Card would be accepted only at
secured PIN based POS terminals. It is available to all customers eligible for debit card issuance.

6. Services offered by Bank of Baroda:

a) Demat

An individual, Non-Resident Indian, Foreign Institutional Investor, Trusts, Clearing Houses,
Financial Institution, Clearing Members and Mutual Funds can open a Demat account.

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Key Benefits:

Buy and sell shares and stock of any company listed on the stock exchange of India i.e.
Make on line investment in mutual fund.
Apply in IPO
Trade in Futures and Options
No threat of loss of shares due to faulty/bogus/forged delivery.
Dividend and issuance of bonus shares are directly credited into linked accounts and
Demat accounts respectively.
No share transfer fees or stamp duty.
Application can be made vide facility of ASBA (Application Supported by Blocked
Amount) wherein amount does not get debited into the account and is remitted only when
shares are allotted.
The shares trading account enables you to view live prices watch lists and place
transactions. The deposit account is linked to the trading account for seamless transfer of

b) Baroda Health

It is a Medical Insurance Scheme, available only to account holders of our Bank, which takes
care of the hospitalization expenses incurred by the customer up to the amount of sum insured.
Key Benefits:

Very low premium
In this co-branded product, single premium (generally payable for a single person) is
payable and Medical Health insurance cover is available to family of -4- (self, spouse and
2 dependent children) up to the amount insured without any additional premium.
A member or all the members in insured family can avail hospitalization benefits during
the policy period, to the extent of aggregate sum not exceeding the sum insured.
Premium paid is eligible for Income Tax exemption under Section 80 D as per Income Tax

33 | P a g e

c) Remittances (Baroda Money Express)

The Baroda Money Express remittance facility ensures instant payments and transfer of funds,
saving you and your associates from waiting endlessly for funds to get credited. The facility is
available at 345 branches across 53 centers in India inclusive of all branches in Ahmedabad,
Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Pune. This facility is available for both
retail and corporate customers enabling efficient and easy transfer of money. So no more delays
in transfer of funds typical of Banker's Cheque, Demand Drafts, Mail Transfers and Telegraphic

d) Collection Services

All branches of Bank of Baroda have the facility of collecting Cheque, Demand Drafts, Interest
Warrants, Dividend Warrants, and Refund Orders, Clean Bills and Documentary Bills from
customers and various centers. All Cheque and other instruments are collected into properly
introduced accounts and sent for collection on the day of receipt from the customers or the next
working day. The Funds collected in this offering are credited to the customer's account within a
guaranteed period of 7 days. Bank of Baroda's BOB Quick ensures a better collection service,
which creates new avenues of income and ensures better investment of funds.

e) ECS (Electronic Clearing Services)

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, shareholders, investors etc.
Key Benefits:
Prompt payment on the due date.
Convenient receipt of money reduces trips made to the bank for depositing
dividend/interest warrants.
Elimination of fraudulent encashment against instruments lost in transit.

f) Government Business

Apart from rendering all other Personal banking services to its customers/public, Bank of
Baroda also works as Agency Bank for undertaking various types of Govt. Business viz.
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Following schemes are available at Bank of Baroda:

Public Provident Fund 1968 Scheme (PPF)
Senior Citizens Savings Scheme, 2004 (SCSS 2004)
Govt. of India 8% Savings Bonds 2003 (Taxable)
National Pension System (NPS) & NPS Lite Swavalamban
Collection of Central/State Taxes

7. Locker Facility offered by Bank of Baroda:

Bank of Baroda offers a safe, trustworthy space to store your valuables, jewellery, documents
and other things dear to you.
Key Benefits:
State-of-the-art Lockers, the safe deposit vaults with fully equipped, latest burglar alarm
For additional safety, the Locker holder assigns a code word which further increases
Available in different sizes as per your requirement.
These Lockers and their contents can be nominated to people near and dear to you.

B. Business Banking

1. Deposits

a) Short Term Fixed Deposits

Ideal for those considering a transitory deposit during their business ventures. The extremely
short period of one year also helps in fast liquidity in addition
to a good rate of interest.

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Key Benefits:
Ideal for all transitory savings.
High liquidity with good returns.
Avail of Overdraft / loan against deposit up to 95% of the deposit amount without the
hassles of a guarantor or processing fee or, filling of any forms etc.
Ideal for meeting short-term commitments as these advances are also available for a single
day and till a maximum of 12 months.
On pre-matured withdrawal of your deposits amount, interest will be calculated at 1%
below the rate applicable for the period of deposits.
Can be used as margin money for Non-fund based facilities.

b) Long Term Fixed Deposits

Ideal for long term investments. Secure money that earns good returns and can be easily
Key Benefits:
Easy liquidity even with a long term period.
Increasing interest in proportion to the increasing term of deposit

c) Current Account

Current Deposits product is ideal for firm, companies, institutions, HUF, individuals etc., who
need banking facility more frequently. This is one of the most basic and flexible deposit options,
allowing transaction without limiting the numbers.

2. Loans and Advances offered by Bank of Baroda:

In addition to Working Capital Finance and Term Finance, Bank of Baroda has laid out a
comprehensive suite of products specifically catering to SME Borrowers. Loans and Advances
offered by Bank are as follows:

Baroda Professionals
Scheme for Textile Industry
Working Capital Finance
Term Finance

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Baroda SME Loan Pack
Baroda Vidyasthali Loan
Baroda Arogyadham Loan
Baroda Laghu Udhyami Credit Card
Baroda Artisans Credit Card (BACC)
Baroda Weavers Credit Card
Technology Upgradation Fund Scheme (TUFS) For Textile And Jute Industries
Credit Linked Capital Subsidy Scheme (CLCSS) For SSI Units
Composite Loans
Collateral Free Loans Under Guarantee Scheme Of Credit Guarantee Fund Trust For Micro
And Small Enterprises
SME Short Term Loans
SME Medium Term Loans
Baroda SME Gold Card
Scheme for Financing Energy Efficiency Projects
Baroda Overdraft Against Land and Building
Prime Minister's Employment Generation Programme (PMEGP)
Loans Under Interest Subsidy Eligibility Certificate Scheme of Khadi & Village Industries
Commission (KVIC-ISEC)
Baroda MSME Capex Card & Baroda MSME Capex Loan

3. Key Services offered by Bank of Baroda:

a) Remittances
Key Benefits:
Can be used to transfer money to the beneficiary's account in the same bank, or another
bank or even to their residential/office address, thus offering convenient options.
This electronic remittance is the fastest way of transferring money from one place to
another, at no additional cost.
Added convenience of hassle free and quick customer service.
The facility is available at 345 branches across 53 centres in India inclusive of all branches
in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Mumbai, and Pune.

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b) Collection Services

All branches of BoB are prompt in terms of the collections and forwarding of cheques and other
instruments. For state capitals, amount is credited only after 10 days. If these instruments are not
collected within 14 days of lodgement, interest @ 2% per annum over savings bank rate is paid
and is credited to the customer's account, without the customer having to claim it. Branches also
accept requests for collection of Loan Certificates issued by Joint Stock Cos.; prize money of
Lottery Tickets, Foreign Currency Notes etc.

c) 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, shareholders, investors etc.
Key Benefits:
Corporate bodies who have periodic, large volume payments to a fixed group investors /
beneficiaries enjoy the following benefits:
Savings in administrative cost presently being incurred for printing of paper instruments in
MICR format and dispatching them by Registered Post.
Elimination of fraudulent encashment due to loss in transit of instruments.
Reconciliation of transactions is made automatic. By the time the ECS cycle is completed,
the user institution gets electronic data file from its bank with the date of payment and
banker's confirmation thereon.
Cash management becomes easier as arrangement for funds is to be made only on the
specified date.
Ensures better customer / investor service.
In line with practices adopted by best companies the world over who pay their shareholders
/ investors and customers.

d) Debit cards

The Bank of Baroda International Debit Card is accepted at over 10000 Visa Electron ATMs in
India and 850000 ATMs worldwide. The card is also accepted at any 100000 merchant outlets in
India and around 13 million globally. The card enables you to enjoy the convenience of cash-less
purchasing power without the fear of overdrawing your account.

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Key Benefits:

Take advantage of the most widely accepted card and be able to withdraw from any ATM
displaying the VISA logo, in India and abroad.
At VISA Electron merchant shops, it can also serve as your electronic purse, and money
gets debited instantly from your account, as you pay.
The Card allows you to get mini-statements from Bank of Baroda ATMs, or to check the
balance in your account, avoiding visits to even our nearest branches.

e) Baroda e-Gateway

Bank of Baroda provides a facility, to receive payment online from any debit/credit card, called
Baroda e-Gateway (Internet Payment Gateway), which is a safe, secure and trusted payment
solution for e-Commerce/online business.

Baroda e-Gateway is ideal for Schools and Colleges for Fee Collection, Travel agents,
Merchants who wish to sell online products / services, Associations to receive subscriptions from
their members, Govt. & Semi-Government offices, Municipal Corporations, Electricity Boards
and other Utility Payment Services companies to collect dues/payments from consumers etc.

4. Locker Facility offered by Bank of Baroda:

Bank has adopted the various guidelines issued by Reserve Bank of India in connection with
allotment of Safe Deposit Lockers and Safe Custody articles facility and allowing access to the
nominees / survivors / legal representatives in the event of the death of the Locker Hirer/s and
Depositor/s of Safe Custody articles. The lockers will be allotted on first come first served basis
to the customers only. A waiting list register is maintained by the branches for the purpose. The
Bank has the facility of nomination in case of deposit of Locker and safe custody articles facility.
However, the facility of nomination is not available in case of deposit of safe custody articles by
more than one person.

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C. Corporate Banking

1. Wholesale Banking

Under Wholesale Banking the corporate customers are identified as Large and Mid-corporates.
Companies having annual sales turnover of over Rs. 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. Under Wholesale Banking it has been proposed that Large & Mid Corporate customer
of the Bank is located at the identified branches for providing them better services. Initially 11
important centers, 2 at Mumbai & 1 each at Delhi, Chennai, Bangalore, Hyderabad, Ahmedabad,
Pune, Baroda, Kolkata and Raipur have been identified for the rollout of Wholesale Banking.
The Corporates can take advantage of the expertise available at Wholesale Banking Branches.

The following are the areas in which Client Service Team can help the Large & Mid
Trade Finance products
Cash Management Products
Treasury Products
Bridge Loans
Syndicated Loans
Infrastructure Loans
Cross Currency/Interest Rate Swaps
Foreign Currency Loans and many more depending upon the needs of the Corporate.

2. Deposits

a) Short term

Ideal for those considering a transitory deposit during their business ventures. The extremely
short period of one year also helps in fast liquidity in addition
to a good rate of interest. Minimum deposit required would be Rs.1000/-, which has to be made
for a minimum of 7 days, and can then be extended to a maximum of 12 months. Compound
interest is calculated quarterly and the rate is decided based on the maturity period.

40 | P a g e

b) Flexi Deposit Schemes

Ideal for corporations that have huge cash flow and need to transfer and manage funds in excess
of 5 crores or more. Deposits can be maintained for as little as 7 days to one full year.

Key Benefits:
Targets high value customers offering them the following conveniences:

Flexibility - Allows withdrawals of deposit without any restriction on amount, even before
the maturity of the deposit, without a charge for premature withdrawal.
The Interest on such premature withdrawal will be paid at the rate applicable to the period
for which the deposit has remained with the Bank.
Withdrawals can be made by just serving one days notice.

c) Term Deposits

It is ideal for long term investments. Secure money that earns good returns and can be easily

Key Benefits:

Avail of Overdraft / loan against deposit up to 95% of the deposit amount (plus accrued
interest) without the hassles of a guarantor or processing fee or, filling of any forms etc.
Interest will be charged at 1.50 % over the deposit rate with monthly rests in case of
depositor being the borrower and higher in case your friends wants to avail of the loan.
No processing fee is charged on loans and advances taken against Bank's Deposits.
For deposits up to Rs. 5 Lakhs, no interest will be charged for premature withdrawal,
provided it has remained with bank for a minimum period of 12 months.
Automatic renewal of deposit on maturity, thereby avoiding interest loss in the absence of
instructions from you.

3. Loans and Advances

For immediate financial need in times, Bank of Baroda has a host of loan options for a corporate
to choose from. These enable smooth functioning without monitory hassles.
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Loan and advances offered by Bank of Baroda is

Working Capital
Line of Credit
Export Finance
Bill Finance
FCNR (B) Loans
Bridge Loans
Advance against Shares
Loan against Rent Receivables
Term Finance
Short Term Corporate Loan
Project Finance
Infrastructure Finance
Takeover of Accounts
Non Fund Based Services

4. Services

In addition to the loans and advances offered by Bank of Baroda, there are other value-added
services that it provides to its corporate customers. The services offered are listed as follows:

Appraisal & Merchant Banking

o Appraisal
o Loan Syndication
o Other Consultations

Cash Management & Remittances

o Cash Management Service
o Remittances & Collection

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D. International Banking

1. Foreign Currency Credits

The Foreign currency denominated credit facilities are granted to the Indian corporations in India
as well as at the Money Centre Branches abroad. Corporations interested in raising foreign
currency funds both in India and abroad may contact in India the branches they are dealing with,
the Position Maintaining Offices (PMO's/ Authorized Foreign Exchange Branches), Corporate
Banking Branches, Industrial Finance branches or any of the major branch in the city. They may
also contact the Bank's Regional Offices/ Zonal Offices for the required information/ guidelines.

2. External Commercial Borrowings

Bank of Baroda is very active and is a leading player in granting and arranging various forms of
foreign currency facilities through ECB route for the Indian Corporates. BOB focuses on all type
of foreign currency credit requirements of Indian corporates in arranging the Foreign Currency
Loans. Bank of Baroda has a few decades of experience in arranging foreign currency loans.
This long experience and wide presence across the globe brings leverage to BOB to understand
the ECB market better thus offer best terms to the clientele.

International Merchant Banking Cell (IMBC) has been set up at BCC, Mumbai to pay focused
attention to the international merchant banking needs of Indian corporates with special emphasis
on External Commercial Borrowing.

3. FCNR (B) Loans

Corporate can avail loans from Bank of Baroda. The Indian corporates/ firms are allowed to raise
the funds through foreign currency loans at select Indian branches within the prevailing policy
guidelines of the Bank/ RBI.
Key Benefits:
FCNR (B) loans are beneficial to the corporates on account of following:
At times, it may entail lesser interest cost vis--vis Rupee borrowings.
The borrower is not required to go to the International market for raising the funds as
foreign currency funds are made available in India reducing the cost of raising such funds.
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4. Export Finance

BOB offers both pre and post shipment credit to the Indian exporters through Rupee
Denominated Loans as well as foreign currency loans in India. Exporters having firm export
orders or confirmed L/C from a recognized Bank can avail the export credit facilities from BOB
provided they satisfy the required credit norms. Rupee export credit is available for a maximum
period of -360- days from the date of first disbursement. The corporates, if required can book
forward contracts in respect of future export credit drawls. BOB offers financing of export by
way of bill discounting of export bills to provide post shipment finance to the exporters at
competitive international rate of interest.

5. Import Finance

Bank of Baroda provides various types of funding/ services to the importers for facilitating the
imports in the country. The vast network of Bank's overseas branches/ subsidiaries and
Correspondent Banks worldwide facilitate prompt & efficient services to the importers. All the
facilities are subject to the prevalent rules of the Bank/ RBI guidelines.

The various facilities provided are:

Collection of import bill.
Opening of Import L/Cs (Sight/ DA)
Financing of import by way of Foreign Currency Loans
Issuing Guarantees etc. on behalf of importers.

6. Correspondent Banking

The extensive worldwide network of branches of Bank of Baroda offers Correspondent
Banking services to the Indian Banks as well as banks from other countries. The New York,
Brussels and London Branches of the Bank are equipped with latest technology and are having
trained and experienced staff for handling the maintenance of Nostro accounts in US$, Euro and
GBP respectively. The overseas presence of the Bank is further supported by a large number of
correspondent Banks (more than 500) which gives Bank of Baroda access to every corner of the

44 | P a g e

The main services provided are:

Collection of bills both Documentary and Clean.
Advising / confirming of L/Cs opened by Indian Banks.
Discounting of Bills drawn under L/Cs as well as outside L/Cs.
Maintenance of foreign currency accounts (Nostro in US$, Euro, GBP at New York,
Brussels and London respectively) for settlement of transactions (Link).
Making foreign currency payments/ remittance on behalf of customers of Indian Banks

7. Trade Finance

Bank of Baroda through its overseas branches and subsidiaries is very active in financing of
Usance post sales international trade bills by way of discounting of the same. With its large
foreign currency resources and overseas presence, Bank of Baroda is in a position to offer the
most competitive rates for discounting of these bills. The bills under the L/Cs of the most of the
Indian Banks as well as International Banks can be discounted at competitive rates.

8. International Treasury

Bank of Baroda has a strong presence in the Treasury Market in India as well as abroad. The
overseas Money Centre Branches undertake the Forex treasury operations on behalf of the
customers. All the Forex treasuries at the overseas money center branches are equipped with
state of art technology, highly experienced and motivated staff with professional skills. These
branches deal in all the major international currencies i.e. US$, GBP, Euro, Yen as well as other
currencies. These branches undertake the following treasury related activities:

Forex Inter Bank Placements/ Borrowings
Sale & Purchase of currency on behalf of customers
Forward Cover Bookings
Cross Currency Swaps
Interest Rate Swaps (IRS)
Forward Rate Arrangements (FRA's)
Forex Money Market Operations

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E. Treasury Banking

1. Domestic Operations

Bank of Baroda has set up dedicated desks at the SITB, headed by experienced professionals, for
undertaking various types of treasury activities in different financial markets. Apart from
activities pertaining to management of funds and liquidity, 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.

The products and services offered by SITB cater to the inter-bank market as well as to the
corporate customers of the bank. The Bank is an active participant both in the inter-bank market
and the corporates for all the products.

2. Forex Operations

The modern state-of-the-art dealing room at its Specialized Integrated Treasury Branch (SITB) at
BKC, Mumbai provides the necessary wherewithal to its 152 designated branches across the
length and breadth of the country authorized to handle foreign exchange business of its clientele.
The bank has retained its primacy as a leading market maker both in spot and forward markets.
The forex dealing desk at the SITB is provided with all modern communication facilities, all its
authorized branches via Reuters Automated Dealing System, to provide on-line quotes for
foreign exchange transactions.

Since most of its overseas branches are strategically situated at places where sizeable Non-
resident Indians are residing, the Bank is in a position to deliver its products promptly and
efficiently to its NRI customers. The range of products includes remittance facilities and
acceptance of deposits in Indian Rupees (NRE / NRO) as well as in designated foreign
currencies (FCNR). Resident as well as Returning Indians can avail of benefits like Resident
Foreign Currency Accounts (RFC).
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F. Rural Banking

Various services offered under rural banking are as follows:

Baroda General Credit Card Scheme (BGCC)
Baroda Kisan Credit Card (BKCC)
Agricultural Implements
Tractors and Heavy Agricultural Machinery
Financing Second Hand Tractors
Cultivation of Crops
Farm Produce Marketing Loan / Financing against warehouse receipt
Irrigation Potential
Baroda Kisan Tatkal Loan Scheme
Dealers of Agriculture Inputs
Financing Agencies Providing Custom Services To Farmers
Providing Employment To Unemployed Technicians Through Agro Service Centers
Agriclinics and Agribusiness Centers by Agriculture Graduates
Financing Construction of Farm Building and Structures
Construction / Expansion / Modernization / Renovation of rural godown
Development of Horticulture
Land Development
Scheme for Loan Against Gold Ornaments / Jewellery
Financing Scheduled Caste/Scheduled Tribes
Scheme for purchase of Agricultural land
Scheme For Construction Of Sanitation Facilities In Rural Areas

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7.1 Objectives of Study
Banking and finance can be called as the nerves of any economic system as they accelerate the
process of economic development through canalization of adequate finance. It is hard to
anticipate development of efficient banking services in the country. No doubt financial
institutions play so important in economic development but at the sometime economic
development determines the growth and development of banking institutions.
Main objective of the study is to Critical appraisal of product & services offered by Bank of
Baroda. Some of the major objectives of the study include the determination of the following:
Consumer awareness about the products and services provided by the Bank of Baroda.
Consumer preference about various products and services.
Customers perception towards public sector banking and their expectations from public
Customer satisfaction with the service provided by the bank.
To identify the major attributes of customer satisfaction.
To check out staff co-operation towards customers.

7.2 Type of Research
Research is one of the most important parts of any study and pertains to the collection of
information and knowledge. Marketing research is defined as the systematic design, collection,
analysis, and reporting of data and findings relevant to a specific marketing situation facing the
company. The research process depends upon developing the most efficient plan for gathering
the needed information. Designing a research plan calls for decisions on the data sources,
research approaches, research instruments, sampling plan, and contact methods. My project has
been developed on has basis of both exploratory and descriptive research.
The research is descriptive as the study has been completed based on the data collected from the
internet and secondary sources like news, magazines, database BOB, reports etc.
It is also analytical in nature as the data collected from questionnaire is analyzed and necessary
findings and conclusion is derived based on the data from collected from questionnaire.

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Data Source
For this project both primary and secondary data were valuable sources of information.

Primary data
Primary data are data freshly gathered for a specific purpose. For my project work, the study has
been done using an exploratory research process and a structured questionnaire was developed
for this purpose. For the collection of primary data this was the only method used. The filled up
information was later analyzed to obtain the required interpretation and the findings. The reason
I used this method is because a need was felt for the free influx of information about the

Secondary data
Secondary data provides a starting point for any research and offers valuable sources of already
existing information. Secondary data are the easiest to gather and the cost of collecting this data
is also very low. For my project work, study of the banking industry, Bank of Baroda was done
using secondary data sources. This secondary information has been sourced from the internet and
from business related magazines and newspapers.

7.3 Sampling Plan

Sample size
I chose a sample size of 100 respondents consisting of based on convenient sampling. All
respondents were the customers of Bank of Baroda. The method was simple random sampling.

Sampling Units
For the purpose of research, customers of Bank of Baroda, city light branch were surveyed.

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Sampling Technique Used
Since the information required was not of a very technical nature and also looking at the scope of
the project and the extent of the target segment, the sampling technique employed was
Convenience Sampling. I administered the questionnaires.

Research Instrument

Structured Questionnaire method was used to carry out the survey. Questionnaire was framed
and design in such a manner that it could be filled up within 5 minutes by the person thus saving
time of interviewee. Questions ranged from getting information about loan, different account,
cards, use of bank overdraft etc.
Contact Method: Personal Interview.

7.4 Scope of Study
Bank of Baroda is one of the most famous banks in India. The various products and services
offered by it include:

Deposits (Saving account and current account)

Mobile Banking
Internet Banking
Other Services

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The deposit mix of an organization especially the saving accounts are the backbone of every
bank as an ordinary man is most inclined to invest in it due to its convenience and easy
availability. This project deals with the various customer concerns regarding these and tries to
suggest appropriate suggesting based on conclusions. I hope that this report would be able to
suggest some measures and draw attention of bank towards the area of improvement.
The study would try to throw some insights into the existing products and services provided by
the bank, perceptions and the actual service quality of the bank. The results of the study would
be able to recognize the lacuna in the system and thus provide key areas where improvement is
required for better performance and success ratio. In the days of intense competition, superior
product and service delivery is the only differentiator left before the banks to attract, retain and
partner with the customers. Superior service quality enables a firm to differentiate itself from its
competition, gain a sustainable competitive advantage, and enhance efficiency.

7.5 Limitations of Study
The study is only for the Bank of Baroda confined to a particular location and a very small
sample of respondents. Hence the findings cannot be treated as representative of the entire
banking industry.
In a rapidly changing industry, analysis on one day or in one segment can change very
quickly. The environmental changes are vital to be considered in order to assimilate the
Respondents may give biased answers for the required data. Some of the respondents did
not like to respond.
The conclusion arrived at are based on a very less experience of researcher in this field.
In our study we have included 100 customers of bank because of time limit.
The study can also not be generalized for public and private sector banks of the country.

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Data Analysis

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Age group of customers

After looking this bar graph, it can be said the customers of age group 25-45 are the main
customer of the banks as they occupied almost 55% of this graph. The bank has a huge potential
in terms of the untapped market Young and old age group people. High pay packages to
todays employed youth and large saving with the old age people (especially in urban areas) has
made them attractive potential customers.

Occupation of customers

We can see that about 50% of customers are business class people. Service class people comprise
of only 20%. This may be possible due to Surat being a city where more of business class people
reside as compare to service class.
Age of Customers
0-25 25-35 35-45 45-55 55+
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1. Which income group does you belong to?

Income does not make any difference as far as opening the account in the Bank of Baroda is
concerned, as the bar diagram is vividly revealing that more or less people of every segment of
income group have opened and are opening the account. So it can be said that the target group of
the Bank of Baroda, specially for saving account are of every segment of income group since its
is devoted to render best services to its costumer.

2. What are the features/attributes you expect while opening a bank account?

When a customer visits any bank, the first and foremost thing he expects is the quickness of
service and the promptness in entertaining by the bank employee. Second thing customer wishes
to have is proper information regarding his queries. Also factor like less formalities of document
is really significant while opening an account. Varieties of product do not make a big impact on
customer behavior for opening an account in any bank if its services are efficient. But on the
other hand bank cant ignore working hours. As in this bar customer has erred it. For these
services like bank preference should be given to make a prompt and customer friendly service
< 50000
> 500000
Income Group
Variety of
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3. What type of account do you have with Bank of Baroda?

Saving account is the leading and attractive product for the Bank of Baroda as it occupies a
major chunk in this chart. It is clearly implying that this product has the ability to satisfy the
customers. On the second and third positions, current accounts and fixed deposits has also been
helpful to increase the customer base but still their performances needs to be improved. One
thing in this chart which is significant is the business of the bank is relying on only few leading
products, reason for this could be, neither has it limited range of products nor rest of the product
does not have much ability to penetrate in the stiff market of banking of Surat. That is giving an
alarming message to the management of the bank to analyze the situation very minutely and
must ascertain where things are going wrong and for that what short of necessary step could be
taken. Providing better services in comparison with the competitors is a must for excelling in

4. Who influenced you to open an account with Bank of Baroda?

Type of Account
Current deposit
Saving deposit account
Fixed deposit account
bank employees prospectus advertisement friend /relative
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As it is said, a satisfied customer is the best medium for advertisement since in this bar friends
and relatives have play a key role in opening the accounts for others, which implies that bank
real customer are satisfied enough with the facilities available on the products and the services
enjoyed by them. An advertisement and bank employees more or less has been good performer
in their respective domain. It reveals advertisement of different medium has been a key factor in
generating the awareness about banks product as well as facilities that are made to available on
then in the peoples mind.

5. How would you rate the account features/services of Bank of Baroda?

As we can see in the above chart that around 65% of its customers have rated features/attributes
of Bank of Barodas account as excellent or very good, we can say that customers are satisfied.
Reason for this could be different type of facility associated with products, which are reading
true value to the customer and marketing people are also very much devoted to give the best
from this part. Efforts must be given to know why they are people who are still saying average
and poor about accounts and what are the factors that are going wrong with that segment of

very good
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6. Have you ever taken a bank loan?

We can see from the chart the almost 48% of the BOB customers have taken loan from the Bank.
This is a big number; almost every second customer has taken loan from the Bank.
This is very impressive rate of loan given by the Bank. It is assumed that loan sanctioned in the
rate of 45% to 55% is a good as it should be. As stated above the loans given by the Bank are
mainly because of attractive loan schemes offered by the Bank. Because of this attractive loan
scheme facility it has been able to attract more loans than other Banks.
Another reason for such high BOB success of loan scheme is very few formalities to carry out
during the loan. The processing time taken by Bank is much lower than the other Banks. The
sample interviewed told that the time taken for granting of loan scheme is almost half than taken
by other Banks. One more reason is extensive advertising taken up by Bank of Baroda, resulting
in increasing in bank of Barodas brand name.

7. If yes, what type of bank loan have you availed?

housing loan auto loan personal
traders loan other
Type of Loan
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From the sample size 48% of people are using the BOB loan product. From the 48 people, 45%
of people took home loan from Bank of Baroda. 27% of people took auto loan, 15% took traders
loan and10% of people took personal loan. From this we can say that, housing loan is most
common among customers of Bank of Baroda. Customers also prefer auto loan as compare to
other loan of Bank of Baroda.

8. How would you prefer to pay back the loan?

From the graph we can see that customers mostly like to pay back the loans as monthly
installment. As we see that 60% of customers like to pay loan as monthly base.
The main reason for such high payback of monthly installment schemes in all customers is
because they can instruct the Bank to debit their account at every month so that they dont feel
the pressure of loans and interest. So, monthly repayments can decrease the loan and interest
liabilities easily.

9. Do you use internet/mobile banking facility provided by Bank of Baroda?

Internet Banking
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From the chart, we can see that around 70% of customers are using internet/mobile banking
which is a good number as compare to other banks.
Reason for this can be that today almost everyone has access to either mobile or computer, thus
increasing internet/mobile banking. Also, this helps in saving time and energy of customers as
they dont have to go to bank. Also, bank should try to increase the level of internet banking
users by making it more customers friendly.

10. Do you have a fixed deposit or any other forms of investments with Bank of

Around 55% of the customers have investments with the bank either as fixed deposits or other
investments offered by the bank. Bank should advertise more about their investment schemes to
attract more investments.

11. Have you ever used personal bank overdraft?

Personal Bank O/D
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Only about 10% of customers have used personal overdraft facility given by the bank. This is a
good sign as most of customers withdraw within their limit.

12. Do you own any BOB Card?

From the chart we can see that around 65% of customers use BOB Card. Bank should try to
increase the sale of cards to increase their revenue. To increase their sales, they should make
cards more customer friendly.

13. If yes, which of the following BOB Cards do you own?

From the 64 people using BOB Cards, 50% of people use international debit card. Around 25%
of people use BOB gold and silver card. 18% of customers use other forms of card. From this we
can say that, international debit card is most common among customers of Bank of Baroda
because of facility available with it as well as ease of use.
BOB Card
BOB exclusive women card
BOB gold card
BOB silver card
International debit card
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14. How long did you have to wait for getting the bank services?

As this pie chart is showing, around 90% people wait in queue for 0-10 minutes. It is a good sign
for company as it shows efficiency of employees but bank should try to further reduce waiting

15. Do you think there are sufficient numbers of counters at the bank?

As shown in the chart, we can see that only 62% of customers believe that there are sufficient
counters available at the bank. Bank should increase the number of counters so as to increase
their productivity.

Waiting Time
0-5 minutes
5-10 minutes
More than 10
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16. Do employees of Bank of Baroda understand your specific needs?

As we can see from the chart, 91% of customers said that employees of Bank of Baroda are
customer friendly and understand their specific needs. They should try to bring this level to
100% so as to increase customer satisfaction level.

17. In which of these areas do you think Bank of Baroda needs improvement?

35% customers feel that bank needs to improve their services. . Second thing customer wishes to
improve is technology. Bank needs to be fast enough to install new technology. Also factor like
relationship management and updates is really significant to the customers. Customers feel that a
good relationship manager and timely updates helps in convenient banking. Very few customers
feel that there is need for improvement in products of bank.
Product Relationship
Services Technology Updates
Areas of Improvement
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18. In comparison with other banks, how would you rate Bank of Barodas
product and services?

Rating of any bank depends on its overall performance in the eye of the people. This graph is
vividly showing that around 75% of customers rate Bank of Baroda good as compare to other
banks. The performance of Bank of Baroda has been good in this city with strong competition
from major public sector bank like SBI and other private banks. Reason for this could be, it has
occupied a different position in the peoples mind with its customer friendly products and to
serve them with an efficient and prompt banking system.

Can't Say
Comparision with Other Banks
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Facts and Findings

It was found from the study that bank believes in quality service rather than quantity of
Bank of Baroda is having a distribution network of more than 4500 branches. This is the
main strength of the Bank of Baroda.
Bank of Baroda has a strong brand image in the market built over the time & a huge
stockpile of the customers under its arms.
The bank and its customers have a long term relationship. Bank of Baroda has the tendency
to retain its customers at any cost. They believe that the old customer is more profitable
instead of a new one thats why they try to maintain good and long term relations to their
The perception of the majority of the customer regarding the bank is good because
majority of the customers are satisfied with the bank and they also recommend the
products of the bank.
The reason for high satisfaction rate was that on the standing instructions of the customers,
bank could pay bills such as telephone bills, light bills etc. with the required minimum or
low cost.
According to the customer perception, Bank of Baroda is highly responsive. Customers are
assured while transacting with the bank.
Majority of the customers are aware of services and extra services offered by Bank of
Baroda. But they are not aware about all the services.
The officials employed are very much enthusiastic about their job.
The officials try to make best relation with the customers.
The registers and files are maintained on a daily basis and in a well organized manner.
The marketing strategy of the bank is very attractive and it tries to attract customers with
innovative offers.

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My Learning
Working with one of the leading public sector bank of India was a great learning experience for
me. During my summer internship with Bank of Baroda I learned how the banking sector works.
Apart from working on my project I experienced day to day operations of a City Light Branch. I
was used to sit at the customer service desk and help the customer service representatives of the
branch. Handling customers and solving their problems was a great learning experience for me. I
helped the customers in filling Know Your Customer (KYC) forms and account opening
forms. I also learned about other transactions like NEFT, RTGS, Clearing, Transfer, issue of
Demand Draft and Bankers Cheque, etc. Other learnings from my project are:
Learn to work in the various divisions of the bank.
Got insight about various financial transactions and banking terminology.
Develop skills required to interact with senior management and staff in a professional
Learn to work with bank customers and explain the account options available at the bank.
Gain an understanding of the procedures used by the firm to evaluate its loan applicants.
Learn the process of documenting work performed on loan applications and
communicating effectively with supervisors and other company personnel.
Learn the regulations related to lending policies of the firm.
Gain insight into customer service focus of the firm.
Gain insight into the working environment and understanding the culture of the bank.
Develop organizational and time management skills to complete the project in a timely
Got familiar with various working job profile on which the officers of BOB work upon.

While concluding my project, I would like to say this internship with Bank of Baroda provided
me practical knowledge of every field of management being it finance or marketing or human
resource or operations.

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In the days of intense competition, superior product and service is the only differentiator left
before the banks to attract, retain and partner with the customers. Superior service quality
enables a firm to differentiate itself from its competition, gain a sustainable competitive
advantage, and enhance efficiency. Thus, improving service quality leads to the customer
satisfaction and, ultimately, to customer loyalty.
Bank of Baroda is doing a terrific job in banking sector handling better human resource, adopting
new technologies, bringing new concepts and maintaining very high standards in services
provided to the customers. They are even giving a run for the money to the foreign bank that
everyone feels are the benchmark for measuring banking standards.
Based on the study conducted it can be concluded that professionalism, technology and updates
are the critical dimensions of service quality of Bank of Baroda and they are directly related to
overall service quality. The factors that may delight customers tend to be concerned more with
the intangible nature of the service, commitment, attentiveness, friendliness, care, and courtesy.
Also, the international scope of E-banking provides new growth perspectives and Internet
business is a catalyst for new technologies and new business processes. To sum up, conclusion of
the study can be drawn as follows:

The study mainly was on the customer orientation that how they think, what they want
from their banks and how they take decision going to any bank.
In this study I found that the bond of Bank of Baroda with its customers is very strong,
because Bank of Baroda mainly focuses on retaining their customers.
This study finds that however Bank of Baroda is not the leading public sector bank but its
vast range of products and availability of options make it one of the better banks in India.
The bank should focus on the semi urban and rural market because these markets are very
good opportunity for someone like Bank of Baroda which is in growing fast. Without
expanding in these markets Bank of Baroda cannot be a leading bank so they should focus
on this market.

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The bank should focus on mass banking in order to increase their market share. They
should launch such products which would be within the reach of the lower middle class
The bank should pay more attention on giving updates and should increase the level of
service providing because the competitors of Bank of Baroda are better in this area.
The bank should try to increase the use of technology like mobile and net banking among
its customers.
Bank has to maintain its working environment as result of which customers not even
hesitate to enter the bank.

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Recommendations and Suggestions

The bank has a wide customer base, so the bank should concentrate on this to retain its
The majority of customers are satisfied. But the bank should target on the rest of the
customers who are not satisfied.
The customers are aware about the banks services but the Bank should try to create more
awareness among people. Bank of Baroda should lay more stress on
advertisements, both in print as well as in other media for this purpose.
Number of formalities should reduce, as customer feels irritated with lots of formalities
and it will save the time of customer and Bank also.
It is the duty of the bank to disclose all the material facts regarding products, like interest
charged, repayment period, other types of charges, etc.
The bank should enhance their services according to the needs of the customer.
Mostly business class persons prefer the Bank of Baroda in comparison of professionals
and students and other class persons thus it needs to promote its product and services that
are offered mainly for the service class people and students. Because these class are major
users of the banking services.
Customers of the bank want to know their resources are safe and within trustworthy
institutions. A way to ensure this peace of mind would be to take steps to ensure bank
employees are well trained, so each bank associate is able to offer complete and
comprehensive information at all times. Consistent policies combined with a
knowledgeable staff will foster a high degree of institutional cohesion and reliability.
Learning to understand customers needs will allow bank associates to offer enhanced
services, perhaps lowering customers banking costs and increasing their investment
potential. This could also open up the possibility of increased profits for banks.
Staff should be encouraged to present relevant options to banking customers in a manner
that does not resemble salesmanship so much as a desire to serve.
Keeping the bank with up-to-date technologically is an important factor. Modern
equipments, new improved technology should be replaced with the old ones. If the staff
inside is pleasant and well-informed, in an aesthetically pleasing environment, then
customer satisfaction will be high.
Thus, the banking industries must continuously measure and improve their services in
order to gain customers loyalty.

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Economic times
Business world
Hindustan times

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Name: __________________________
Age: ___________________
Educational qualification: _____________________
Any other _____________________

1. Which income group do you belong to?
Less than 50,000 p.a.
50,000 to 1, 00,000 p.a.
1, 00,000 to 3, 00,000 p.a.
3, 00,000 to 5, 00,000 p.a.
More than 5, 00, 000 p.a.

2. What are the features/attributes you expect while opening a bank account?
Quick services
Variety of products
Less formalities of documents
Working hours
Proper information

3. What type of account do you have with Bank of Baroda?
Current account
Saving deposit account
Fixed account
Any other ____________________

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4. Who influenced you to open an account with Bank of Baroda?
Bank employees

5. How would you rate the account features/services of Bank of Baroda?
Very good

6. Have you ever taken a bank loan?

7. If yes, what type of bank loan have you availed?
Housing loan
Auto loan
Personal loan
Traders loan
Any other _______________

8. How would you prefer to pay back the loan?
Monthly installment
Quarterly installment
Yearly installment

9. Do you use internet/mobile banking facility provided by Bank of Baroda?
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10. Do you have a fixed deposit or any other forms of investments with Bank of Baroda?

11. Have you ever used personal bank overdraft?

12. Do you own any BOB Card?

13. If yes, which of the following BOB Cards do you own?
BOB exclusive women card
BOB gold card
BOB silver card
International debit card
Any other ___________________

14. How long did you have to wait for getting the bank services?
0-5 minutes
5-10 minutes
More than 10 minutes

15. Do you think there are sufficient numbers of counters at the bank?

16. Do employees of Bank of Baroda understand your specific needs?

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17. In which of these areas do you think Bank of Baroda needs improvement?

18. In comparison with other banks, how would you rate Bank of Barodas product and
Cant say