From: "P S Jayakumar [Managing Director & CEO]"

Subject: Technology Transition at Bank of Baroda

Date: 23 August 2017 2:53:28 pm IST
To: "sucheta@moneylife.in" <sucheta@moneylife.in>

Dear Ms. Dalal,

Our Bank has migrated its core banking technology platform to the latest Finacle version 10.x with an objective to
provide a significant enhancement in services provided to our customers. This was undertaken after meticulous
planning, testing and training by our team over the past few months.

The upgradation exercise went through smoothly during the weekend over August 12-13, 2017. Over the weekend,
alternate channels went live with transactions going through the internet and mobile banking as well as the ATM
network.

Considering the massive scale and magnitude of the upgradation, there have been some glitches in the NEFT/ RTGS
and Outward clearing related transactions, which have been addressed by our team on a war footing basis around the
clock and have largely been fixed ever since. Intermittently, there have been challenges such as the speed of the
systems, which we are currently addressing; we expect this process to be completed during the course of this week.

We have also communicated to our customers via SMS, notice in newspapers and communication on the Bank's
website.

Approximately 8300 accounts were also impacted on August 12, 2017 on account of erroneous debit of service
charges that were not due from the customers. These charges have since been reversed and impacted customers
have been duly intimated via SMS on August 20, 2017.

Our 24X7 contact centre has been providing the requisite information to customer queries arising out system issues
that may have had an impact on certain transactions.

Customers facing any issues may contact us as per their convenience on:

Toll Free Numbers: 1800 22 33 44 and 1800 102 44 55

Helpline Landline Numbers: +91 22 6698 3049 and +91 22 6698 3070

Helpline SMS or WhatsApp Numbers: +9170202 32131 and +91 98338 62638

Email: cbssupport@bankofbaroda.com

We thank our valued customers for the continued support and understanding during this period of migration and
deeply regret the inconvenience caused on account of this transition. We are confident that the system will stabilise at
the earliest and all our stakeholders will enjoy uninterrupted and seamless services from our Bank.

Best Regards,

P. S. Jayakumar