Practical no.

5
Aim: Visit a Bank/Financial instruction to enquiry about various funding scheme for small scale enterprise

BANK OF BARODA
Chairman: Sanjiv Chada
Area Served: Worldwide
Industry: Banking financial services

Bank of Baroda (BOB or BoB) is an Indian public sector bank headquartered in Vadodara, Gujarat. It is
the second largest public sector bank in India after State Bank of India, with 132 million customers, a total
business of US$218 billion, and a global presence of 100 overseas offices. Based on 2019 data, it is ranked
1145 on Forbes Global 2000 list.

The Maharaja of Baroda, Sayajirao Gaekwad III, founded the bank on 20 July 1908 in the princely state of
Baroda, in Gujarat. The Government of India nationalized the Bank of Baroda, along with 13 other major
commercial banks of India, on 19 July 1969 and the bank was designated as a profit-making public sector
undertaking (PSU).

Features:

 A savings account comes with a passbook and cheque book feature

 You can receive payments and make payments from your savings accounts
 Auto debits and auto credits can be set up from your savings accounts
 Savings bank account holders can access internet banking and mobile banking for their needs
 Banks offer ATM cum debit cards to savings bank account holders
 A savings bank account earns low interest rate but allows the customer the freedom to withdraw funds at
any time subject to a limit on monthly withdrawals.
 It is possible to pay bills from your savings account
 Banks also send transaction alerts to their customers via SMS and email as a part of SMS banking
services

Eligibility
 Criteria-Saving Bank Accountholder-with sufficient funds.
 Age at entry: minimum 18 year maximum 50 years.
 BOB Yojans
The Pradhan Mantri Jan Dhan Yojana account is a financial umbrella provided by the Government of India
to make economically backwards Indian citizens fall within a structured financial institution. The program
endeavours to reach out to every adult to open accounts with affordable banking for all. Low-income
unorganised sectors, with daily wagers, cannot opt for private banking facilities owing to eligibility criteria
that impede them from maintaining those accounts. But the PMJDY allows all banking privileges to Indian
citizens in zero balance accounts allowing them to save as they earn without depending on private and
insecure saving cooperatives.

Subsidiaries:

 BOB Financial Solutions Limited

 Baroda Asset Management India Limited
 India First life Insurance Company Limited (44%)
 India Infradebt Limited (40.99%)
 BOB (UK) Limited
 Baroda Global Shared Services Ltd.
 Baroda UP Bank

Non-banking subsidiaries
 IndiaFirst Life Insurance Company Limited. ...
 Baroda BNP Paribas Trustee India Private Limited (Formerly Baroda Trustee India Private Limited) ...
 Baroda BNP Paribas Asset Management India Private Limited. ...
 BOB Financial Solutions Limited. ...
 Baroda Global Shared Services Limited. ...
 BOB Capital Markets Ltd.

Other BOB service points

Bank of Baroda is one of the leading commercial public sector banks in India. The Bank's solutions
includes personal banking which includes deposits gen-next services retail loans credit cards debit cards
services and lockers; business banking which includes deposits loans and advances services and lockers;
corporate banking which includes wholesale banking deposits loans and advances and services and
international business which includes non-resident Indian (NRI) services foreign currency credits ECB
offshore banking export finance import finance correspondent banking trade finance and international
treasury.
 Applications:
1. Eligible customers are sent an SMS for activation.
2. Reply “PMJJBYY” to Activate.
3. Get acknowledgement message for receipt of the response.

Using Net Banking:

bob World Internet is the Bank of Baroda’s internet banking facility that caters to your banking needs 24/7
from the comfort of your home or office. Bank of Baroda has created few easy steps to access your bank
account. You can view your bank balance, FD status, manage multiple accounts while also being able to
transfer funds virtually, request for issuance of cheque books, liquidate FDs created online, pay your utility
bills, among many other services. Hassle-free internet banking facilities makes banking with Bank of
Baroda the perfect experience.