Bank of Baroda

PROJECT REPORT
ON
BANK OF BARODA
SUBMITTED BY:
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ENROLMENT NUMBER # 9xxxx
STUDY CENTRE xxxxxxx
REGIONAL CENTRE # xxxxxxxx
SUBMITTED TO:
SCHOOL OF MANAGEMENT STUDIES

INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI
NEW DELHI.
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THIS IS TO CERTIFY THAT THE PROJECT TITLED
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SUBMITTED BY:
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ENROLMENT NUMBER # xxxxxxx
STUDY CENTRE # xxxxx
REGIONAL CENTRE # xxxxx
PROJECT PROPOSAL NO: xxxxxxx
HAS BEEN COMPLETED UNDER MY GUIDANCE AND I AM
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I am thankful to my project guide xxxxxxxxxx for all the help
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BANK OF BARODA
Heritage
Bank of Baroda (BOB) was established on 20th July 1908 in
the princely state of Baroda by the great visionary, Sir
Sayajirao Gaekwad III. The founder strongly believed that,
" a bank of this nature would prove to be a beneficial
agency for lending, transmission and deposit of money and
a powerful factor in the development of art, industries and
commerce of the state as also of adjoining territories".
Unlike other state-owned bank, BOB could maintain its
unique identity and established a strong national presence
even before independence, to all corners of the country.
The Bank was led by eminent personalities and great
bankers like Shri V.D. Thakersey, Walchand Hirachand, R.D.
Birla, N.M. Chokshi, M.G. Parikh and others.
BOB was amongst the first few banks to venture overseas
by opening a branch at Mombassa in 1953. Today it has 38
branches and 23 offices of its overseas subsidiaries having
presence in 16 overseas countries.

Bank of Baroda has 95 years of glorious performance and
an uninterrupted profit record, serving generation after
generation around the globe.
Board Of Directors
Name Designation
1. Shri P.S. Shenoy Chairman & Managing Director
2. Dr. A.K. Khandelwal Executive Director
3. Shri Vinod Rai Nominee of Govt. of India.
4. Mr. Ramesh Chander Nominee of RBI.
5. Shri Piyush Goyal Director
6. Shri B.N. Gulvepatil Director
7. Shri Gurmeet Singh Uberai Director
8. Shri Narayan Ganesh Mhatre Director
9. Shri Prem Prakash Pareek Director
10. Amritlal Sanghvi Director
11. Shri Pradip N. Khandwalla Director

Corporate Offices
Head Office
Suraj Plaza-1,
Sayaji Ganj,
Baroda-390005
Ph-(0265)2361852(10lines)
Fax-(0265)2362395,2361824,2361806, Central Office
Bank Of Baroda
Baroda Corporate Centre,
Plot No. C-26, Block G,
Bandra Kurla Complex,
Bandra (East),
Mumbai - 400051
Phone : (022) 5698 5000- 04 (PBX)
Fax : (022) 5652 3500, 5652 3507,5652 3508, 5652 3509
LITERATURE REVIEW
BANKING SYSTEM
Banking system occupies an important place in a nation's
economy. A Banking institution is indispensable in a modern
society. It plays a pivotal role in the economic development
of a country and forms the core of the money market in an
advanced country .
In India, though the money market is still characterised by
the, existence of both the organised and the unorganised
segments. Institutions in the organised money market have
grown significantly and are playing an increasingly
important role. The unorganised sector, comprising the
money-lenders; and indigenous bankers.; caters to the
credit reeds of a large number of persons especially in the
countryside. Amongst the institutions in the organised
sector of the money market; commercial banks and co-
operative banks pave been in existence for the past several
decades. The Regional Rural Banks came into existence
since the middle of seventies. Thus, with the phenomenal
geographical expansion of the commercial banks and the
setting up of the Regional Rural Banks during the recent
past, the organised sector of money market has penetrated
into rural areas as well.

Besides the aforesaid institutions. which mainly serve as
sources of short-term credit to industry, trade, commerce
and agriculture; variety of specialized financial institutions
have been set up in the country to cater to the specific
needs of industry. Agriculture, and Foreign trade.
In the field of industrial finance the Industrial Development
Bank, India (IDBI), set up in 1964. is the apex bank, which
undertakes. asides direct financing of big industrial
projects. Reefing of term an granted by other financial
institutions including the commercial banks. There are two
prominent all India institutions in this the Industrial Finance
Corporation of India Ltd. (IFCI) arid.
Industrial Credit arid Investment Corporation of India
(ICICI) besides, the State Financial Corporations (SFCs)
and State Industrial development Corporations (SIDCs)
have been set up to meet the, equipment of small and
medium scale industries in the respective states. industrial
Re-on striation Bank of India (IRBI); bring back to normalcy
the industrial units which fall sick. In March 1997 it was re-
named as Ind1.lstrial Investment Bank of India and joined
the rank of full-fledged development financial institutions.
Small Industries Development Bank of India was set up in
1990 as a subsidiary of Industrial Development Bank of
India to cater ex-elusively to the requirements of the Small
Scale Sector in the country. It was delinquent from IDBI in
March 1997, and acquired the status as the apex bank in

the field of financing small scale industries. All these
institutions, engaged as they are in the task of
development, are now designated as 'development banks'
which are distinct from the traditional commercial banks.
Development banking has had its genesis ill the post-
independence period in India and has contributed
significantly to the industrial growth of the country during
this period. A few specialist development financial
institutions have also been set up in India e.g., Indian
Railway Finance Corporation, Power Finance Corporation of
India, Tourism Finance Corporation.
For financing agriculture and allied activities in the rural
areas, though co-operative credit societies and central co-
operative banks have been participating since long, banks
began their active participation after the nationalization of
major banks in 1969. Long and medium-term credit to the
agriculturists is being provided by another specialized
institution, namely, the Land Development Banks which
have a two-tier structure-Pr1mary Land Development Banks
at the district level and State Land Development Banks at
the State level. National Bank for Agriculture and Rural
Development (NABARD) is the full-fidget apex institution in
the field of agriculture and rural development.
During 1988 two important financial institutions were
stabilization. National Housing Bank was set up in July 1988
as the banking institution in the field of housing finance.

Discount and Finance House of India Ltd. was established to
deal in money market instruments in order to provide
liquidity in the money market.
Basis these institutions which are mainly engaged in
meeting the credit needs of various segments of the
economy, there are a few other institutions, which are
essentially engaged in the business of investing in the
corporate. government and semi-government securities and
other instruments. They are the insurance institutions-Life
Insurance Corporation of India (LIC), General Insurance
Corporation of India (GIC) and the Unit Trust of India (un).
These institutions mobilise the savings of the people and
channeled them into desirable securities. Hence the are
called the investing institutions or institutional investors.
To facilitate the banking business and to foster the growth
o banking habit, two other institutions have been set up.
The Deposit Insurance and Credit Guarantee Corporation of
India undertaken the twin functions of extending the
insurance cover to the depositors banks and protect the
interest of banks by providing guarantees in respect of
advances granted by them to small scale industries and the
priority and neglected sectors of the economy. The Export
Credit Guarantee Corporation (ECGC) provides protection to
the banks in respect of risks inherent in financing the
export trade. With the setting up and growth of all these
institutions, Indian banking and financial system may be

claimed to have the finest set-up comparable to any
advanced country as shown in the Chart on the next page.

COMMERCIAL BANKS
Among the banking institutions in the organized sector, the
commercial banks are the oldest institutions having a wide
network of branches, commanding utmost public confidence
and having the lion's share in the total banking operations.
Initially, they were established as corporate bodies with
share-holdings by private individuals, but subsequently
there has been a drift towards State ownership arid control.
Today 27 banks constitute the strong public sector in Indian
commercial banking. -
Up to late sixties, they were mainly engaged in financing
organized trade, commerce and industry , but since then,
they are actively peculating in financing agriculture, small
business and small borrowers also.
The commercial banks operating in India fall under a
number of sub-categories Ion the basis of ownership and
control of management as is evident from the on the next
page.
Foreign commercial banks are the branches in India of the
joint stock banks incorporated abroad. These banks,
besides financing the foreign trade of the country,
undertake banking business within the country as well. .
Public Sector Banks Public sector .in Indian banking reached
its present position three stages-first, the conversion of the

then existing Imperial Bank of India into the State Bank of
India in 1955 followed by the establishment of its seven
subsidiary banks; second, the national1sation of 14 major
commercial banks on July 19, 1969 and last, the
national1sation of 6 more commercial banks on April 15,
1980. One of them -New Bank of India -was later on
merged with Punjab National Bank. Thus 27 banks'
constitute Public Sector in Indian Commercial Banking.
Differences between State Bank and Nationalized
Banks
(1) Though all the 27 public sector banks are corporate
bodies, but the statutes under which they were established
are different. The State Bank of India was established under
the State Bank of India Act, 1955, the subsidiary banks
under tl.1e State bank of India (Subsidiary Banks) Act,
1959, and the nationalized banks under the Banking
Companies (Acquisition and Transfer of Undertakings) Acts
of 1970 &1980. These banks are, therefore, governed by
their respective statutes.
(2) Initially, cent per cent ownership of the 20 rationalized
banks vested in the Government of India, where as the
State Bank of India was owned, to a large extent, by the
Reserve Bank of India -there was small private ownership
the share capital of the State Bank. The subsidiary banks
are owned by the State Bank of India. During recent years

State Bank of India and some of the nationalized banks
-Oriental Bank of Commerce, Dena Bank, Bank of India -
have enlarged their capital by issuing shares to the public.
The State Bank of India acts as an agent of the Reserve
Bank of India, According to Section 45 of the Reserve Bank
of India Act, 1934 "the Reserve Bank shall appoint the
State Bank as its sole agent at all places in India where it
does not have an office or branch of its Banking
Department and there is a branch of the State Bank or
branch of a subsidiary bank." The nationalized banks have
not been conferred with this privilege of acting as agent of
the Reserve Bank. .Since the enforcement of the Banking
Laws (Amendment} Act, 1983, the Reserve Bank has been
empowered to appoint any nationalized bank to act as its
agent at all places in India where it has a branch for the
following purposes:
(i) paying, receiving, collecting and remitting money.
bullion and securities on behalf of any government in India;
and
(ii) undertaking and transacting any other business
entrusted by the Reserve Bank from time to time.
NEW PRIVATE BANKS Mater the nationalization of major
banks in 1969 new banks in the private sector could not be
set up in India for more than two decades, though there
was no legal bar to that effect. The Narasimhan Committee

on Financial Sector (1991} recommended the establishment
of such banks in India. The Reserve Bank of lndia.
therefore, Issued guidelines for the setting up of new
private sector banks in India in January, 1993. These
guidelines aim at ensuring that the new banks are
financially viable and technologically up-to-date from the
start. They are expected to start functioning in a
professional manner, so as to improve the image of
commercial banking system and to win the confidence of
the depositing public.
The new banks are required to be registered as public
limited .companies under the Companies Act, 1956, with
initial paid up Capital of Rs. 100 crore. They are to be
governed by the provisions of Reserve Bank of India Act
and the Banking Regulation Act, 1949 shall comply with the
directions issued by the Reserve Bank of India. Ten new
private sector banks have been established mainly by the
financial Institutions such as UTI. ICICI, IDBI, HDFC. One
such bank Times Bank was subsequently merged with
another new bank HDFC Bank.
In January, 2001. Reserve Bank of India issued fresh
Guidelines in this respect, which raised the share capital of
such banks to Rs 200 crore and limited the conversion of
non-banking financial companies into bank.

RELATION BETWEEN BANKERS AND CUSTOMER
DEFINITION OF BANKING
If banking company is defined as a company which
transacts the business of banking in India. The banking
Regulation Act defines the business of banking by stating
the essential functions of a banker , It also states the
various other businesses a banking company may be
engaged in and prohibits certain businesses to be
performed by it.
The term 'Banking' is defined as "accepting, for the purpose
of lending or investment, of deposits of money from the
public, repay- able on demand
Otherwise, and with drawable by cheque draft, order or
otherwise It is thus clear that the underlying principle of
the business of banking is that the resources mobilized
through the acceptance of deposits must constitute the
main stream of funds which are to be utilized for lending or
investment purposes. The banker is thus an intermediary
and deals With money belonging to the public. A number of
other institutions. which also deal With moI1ey. are not
designated as banking institutions. because they do not
fulfil all the above-mentioned pre-requisites. The
specialized financial institutions. e.g. , Industrial Finance
Corporation of India arid State Finance Corporations, are
not banks because they do not accept the deposits in the

prescribed manner i.e essence of banking business lies in
the two essential functions.
Other Businesses permitted for a Banking Company. The
Ban in regulation Act specifies other forms of businesses a
banking company may be engaged in. According to Section
6, the following business may be undertaken by a banking
company:
a) The following functions form the bank of a bank's
activities and are called its main functions:
1. The borrowing, raising or taking of money;
2. The lending or advancing of money either upon security
or without security;
3. The drawing, making accepting, discounting, buying,
collecting and dealing in Bills of exchange, Promissory
notes, coupons, drafts. bills of lading; railway receipts,
warrants, debentures, certificates, scripts and other
instruments and securities whether transferable or
negotiable or not;
4. The granting and is using of letters of credit, travelers'
cheques and circular notes:
5. The buying, selling and dealing in bullion and specie:
6. The buying and selling of foreign exchange including
foreign bank notes: The acquiring holding issuing on

commission, underwriting and dealing in stock, funds,
shares; debentures, debenture stock, bonds, obligations,
securities and investments of all kinds;
7. The purchasing and selling of bonds, scripts and other
forms of securities on behalf of constituents or others;
8. The negotiating of loans and advances;
9. The receiving of all kinds of bonds, Scripps or valuables
on deposit or for safe custody or otherwise:
10. the providing of safe deposit vaults; and
11. The collecting and transmitting of money and
securities.
b) It may act as an agent of the Government, local
authority or person and can carry on agency business but
it cannot act as secretary and treasurer of a company,
c) It may contract for public and private loans and
negotiate and issue the same.
d) It may effect, insure, guarantee, underwrite, participate
in managing and carrying out of any issue of State.
municipal or other loans or of shares. stock. debenture
stock of companies and may lend money for the purpose
of any such issue.

e) It may carry on and transact every kind of guarantee and
Indemnity business.
f) It may manage. sell and realise any property which may
come Into its possession in satisfaction of its claims.
13. It may acquire and hold and deal with any property or
any right. title or interest in any such property which
may form the security for any loan or advance.
14. It may undertake and execute trusts.
(i) It may undertake the administration of estates as
executor, trustee or otherwise.
a) It may establish, support and aid associations,
Institutions, funds, trusts, etc. for the benefit of its
present or past employees and may grant money for
charitable purposes.
(k) It may acquire. construct and maintain any building for
its own purpose.
(l) It may sell. improve. manage. develop. exchange. lease.
mortgage, dispose of all or any part of the property
and rights of the economy.
(m) It may acquire and undertake the whole or any part of
the business of any person or company. when such
business is of a nature described In Sec. 6(1).

(n) It may do all such things which are Incidental or
conducive to the promotion or advancement of the
business of the company.
(0) It may undertake any other form of business which the
Central Government may specify as a of business in
which it is lawful for a banking company to engage.
The range of services offered differs from bank to bank.
depending mainly on the size and type of banks. but the
acceptance of deposits from the public and provision of
credit form the mainstay of the banking business. The
services offered by commercial banks may be classified into
(i) services to depositors borrowers for providing credit to
them. and (ii) ancillary services.
Ancillary Services
1. Performance Guarantees and Financial Guarantees.
2. Safe Custody of Deeds. Securities.
3. Safe Deposit Vault.
4. Purchase and Sale of Securities.
5. Collection of Interest on Securities/Debentures and
Dividend on Shares, Collection of Pension Bills.
6. Remittance of Funds-Bank Drafts, Mail Transfers,
Telegraphic Transfers.
7. Executor and Trustees.
8. Personal Tax Assistance, preparing Income Tax, Sales
Tax, Wealth Tax Returns.
9. Investment Facilities-Underwriting, Banker to new issues,
Guidance to investment, Stock Exchange assistance. 10.
Credit Transfers. 11. Credit Cards.
10. Travelers Cheques and Gift Cheques.
11. Emergency Vouchers.
12. Sale of. Units of Unit Trust of India DEFINITION OF A
CUSTOMER i.e term 'customer' of a bank is not defined
by law. Ordinarily, a person who has an account in a
bank is considered its customer. Banking experts and the
legal judgements in the past however, used to qualify
this statement by laying emphasis on the period for
which such account had actually been maintained with
the bank. In Sir John Paget's view "to constitute a
customer there must be some recognisable course or
habit of dealing in the nature of regular banking
business." This definition of a customer of a bank lays
emphasis on the duration of the dealings between the
banker and the customer and is, therefore, called the
'duration theory'. Accord in to this viewpoint a person
does riot become a customer of the : banker on the
opening of an account. ~e must have been accuse'- to

deal with the banker before he is designated as a
customer.
An important consideration-which determines a person's
status as customer is the nature of his dealings with the
banker. It is evident from the above that his dealings with
the banker must be relating to the Siness of banking. A
banker performs a number of agency functions and tenders
various public utility services besides performing essential
functions as a banker. A person who does not deal with the
banker in regard to the essential functions of the banker,
i.e., accepting of deposits and lending of money, but avails
of any of the services rendered by the banker. is not called
a customer of the banker. For example, any person without
a bank account in his name may remit money through a
bank draft, encase a cheque received by him from others or
deposit his valuables in the Safe Deposit Vaults in the bank
or deposit cash in the bank to be credited to the account of
the Life Insurance Corporation or any joint stock company
issuing new shares. But he will not be called a customer of
the banker as his dealings with the banker are not in regard
to the essential functions of the banker. Such dealings are
considered as casual dealings and are not in the nature of
banking business.
Thus, to constitute a customer the following essential
requisites Just be fulfilled:

A bank account-savings, current or fixed deposit-must be
( Ripened in his name by making necessary deposit of
money, and
The dealing between thaker and the customer must be of
the nature of banking business.
Banker as Agent
A banker acts as an agent of his customer and forms a
number of agency functions for the convenience of his
customers. For example. he buys or sells securities on
behalf of his customer collects cheques on his behalf and
makes payment of various dues of his customers. e.g..
insurance premium etc. The range of such agency functions
has become much wider and the banks are now rendering
large number of agency services of diverse nature. For
example. some banks have established Service
Departments to take up the tax problems of their
customers.
Ancillary Services of a Banker
Performing the two essential functions of accepting and
lending and investing its funds-that constitute the business
of banking, a modem banker renders a number of ancillary
services also, The range of these services, as outlined in an
earlier chapter. is being enlarged day by day. These
services full under two broad categories-(t1 those which are

rendered to a bank's own customers, and (ii) those which
are available to the public in general. These services are of
various types and of different nature. Some of them are of
specialized nature which necessitate employment of expert
staff. In this chapter, we shall with some of the important
services rendered a modem banker.
REMITTANCE OF FUNDS
With a network of furies branches spread over the entire
country banks are eminently suitable institutions for the
remittance of funds from one place to another. Bank
remittances are safe swift inexpensive and simple. The
main instruments for transfer of funds are:
(i) Mail transfers.
(ii) Telegraphic transfers, (iii) Bank Drafts, and
(iv)Traveler cheque
TRANSFERS
Money can been through mail transfers to any body who has
an account in any o r branch of the same bank. For this
purpose the sender shall ha to furnish details like the name
of the beneficiary, his/her account number, the amount to
be transferred and the name of the branch where the
account is maintained.
TELEGRAPHIC TRANSFERS
To send money urgently banks may be requested for
telegraphic transfers on payment of a nominal charge and
telegram charges. Such facilities are available at selected
branches only.
Both mail transfers and telegraphic transfers can also be
made payable to a beneficiary on indication. For this
purpose. beneficiary's address is also given.
TRAVELLER CHEQUES
A traveler cheque is another instrument issued by banks for
the remittance of money from one place to another. It is
issued for the convenience of the travelling public. When a
person wants to travel without taking the risk of carrying
cash with him he may avail of the facility of traveler
cheques.
MERCHANT BANKING
Merchant banking line of activity for India (1) banks. State
bank of India has been the first in the country to make a
banking in this line. Merchant banking comprises in
rendering services of non-banking natural to thc
industrial mid business houses. The merchant banking
division of (1) Bank advisor service and assistance to
contraction up (industrial and also to existing: units
expanding: or diversifying: production. The Merchant
Banking Division provides comprehensive service to Its
clients.
THE EMBLEM
If you were to look for a symbol that inspires trust, security
and confidence in India, all you have to look for is the Bank
of Baroda emblem.
It is coin-shaped, signifying a financial institution dealing in
money and therefore, with people.
People engaged in industry - symbolised by the cog wheel.
People engaged in agriculture - symbolised by two ears of
corn.
The upraised palm signifies security. And the motto:
"Akshayam te bhavishyati "
(Thou shalt forever be prosperous).
Which to the farmer suggests plentiful harvests. To
industrialists, industrial growth. To businessmen, a brisker
turnover. And to one and all, a better future.

FINANCIAL PERFORMANCE
Key Business Indicators (Rs. In 30.06.2003 31.03.2003
Crore)
Total Deposits 65,398.41 66,366.37
Total Advances 33,051.66 35,348.08
Total Investments 33,006.84 30,179.38
Total Assets 76,597.68 76,417.85
Operating Profit 464.91 1,716.63
Net Profit 244.47 772.78
Capital Adequacy Ratio (percentage) 12.65 12.65
Net Non Performing Assets to Net 3.85 3.72
Advances (percentage)
Operating profit to working funds 2.43 2.24
(percentage)
Business Per Employee (Lacs) 244.8 252.31

Dividend History (percentage)
1998 30
1999 30
2000 40
2001 40
2002 40
2003 60
NETWORK OF BANK OF BARODA
Branch Network Area No of Branches
Metro 496
Urban 497
Semi-Urban 539
Rural 1,182
Total (Indian) 2,714
Foreign (Overseas) 38
Total (Global) 2,752
Controlling Offices
Zonal Offices 13
Regional Offices 43
SUBSIDIARIES & JOINT VENTURES
Domestic Subsidiary
 BOB Housing Finance Ltd.
 BOB Asset Management Co. Ltd.
 BOBCARDS Ltd.
 BOB Capital Markets Ltd.
 Associate Bank
 Nainital Bank Ltd.
Overseas Subsidiary
 BANK OF BARODA Botswana Ltd.
 BANK OF BARODA Kenya Ltd.
 BANK OF BARODA Uganda Ltd.
 BANK OF BARODA Hongkong Ltd.
 BANK OF BARODA Guyana Inc.
 BANK OF BARODA UK Ltd..

CITIZEN’S CHARTERS IN BANK OF BARODA
Common Practices Followed by our branches
Display business hours.
Render courteous services
Attend to all customers present in the banking hall at the
close of business hours Provide separate ‘Enquiry’ or ‘May I
Help You’ counter at large branches Offer nomination
facility to all deposit accounts (i.e. account opened in
individual capacity) and all safe deposit locker hirers (i.e.
individual hirers).
Display interest rates for various deposit schemes from
time to time Notify change in interest rates on advances
Provide details in interest rates on advances Provide details
of various deposit schemes / services of the Bank
Issue Demand Drafts, Pay Orders, etc.
Display Times - Norms for various banking transactions Pay
Interest for delayed credit of outstation cheques, as advised
by Reserve Bank of India (RBI) from time to time.
Accord immediate credit in respect of outstation and local
cheques upto a specified limit subject to certain conditions,

as advised by RBI from time to time Provide complaint /
suggestion box in the branch premises Display address of
Regional / Zonal as well as Nodal Officer dealing with
customer grievances / complaints
Redressal of Complaints
To enable the customers to voice their grievances or offer
suggestions for improvement in customer services.
“Customer Day” is observed at all the offices of the Bank
across the organisation covering branches, Regional / Zonal
Offices and Head Office, on 15th of every month (next day,
if 15th is a holiday or half-day). During specified hours on
this day any customer can meet senior / top executives of
the Bank including Chairman & Managing Director without
prior appointment.
In case of any complaint, the matter may be first brought
to the notice of concerned branch manager for immediate
redressal. If the complaint is not redressed to the
satisfaction of the customer, the matter may be taken up
with the Regional Manager / Zonal Manager concerned.
If the complainant still feels unsatisfied with the responses
received, he can address his complaint to the Bank’s Nodal

Officer designated to deal with customers’ complaints /
grievances giving full details of the case.
After exhausting all the above machinery / channels, if the
customer is not satisfied, he may write to Chairman &
Managing Director of the Bank and even after this, not
satisfied he is free to take recourse to the following :
Directorate of Public Grievances, Govt. of India, Cabinet
Secretariat, Sansad Marg, New Delhi. The Banking
Ombudsman located in State Capitals under RBI
Ombudsman Scheme, 2002 The District Consumer Forum
under Consumer Protection Act, 1985

OTHER ACHIEVEMENTS
Bank's offshore banking unit opened at SEEPZ in
Andheri, Mumbai
Bank opened its first Offshore Banking Unit (OBU) in India
on 21 October 2003. This deemed overseas branch is the
3rd Offshore Banking Unit (OBU) of Bank in its worldwide
offshore banking network. The Offshore Banking Unit will
focus on dealing in major foreign currencies and will
provide –
 Single point solution for all financial needs of units
located in special economic zones, 100% EOU,
Corporates and NRI customers.
 Solutions for currency risk/hedging loan portfolios or
cash flow mismatches
 Wide range of high-yield deposit/investments products
for foreign currency savings.

Fitch assign highest rating "AAA" to Bank's Bonds
Programme
Fitch has assigned "AAA(ind)" (Triple A ind) rating to the
proposed Rs.600 Crore Tier II bonds programme of Bank of
Baroda. The AAA (ind) rating indicates highest safety for
the investors. They are assigned only in case of
exceptionally strong capacity for timely payment of financial
commitments. The FITCH has observed that in the case of
BOB this capacity is unlikely to be adversely affected by
foreseeable events. Further, the Fitch has assigned AAA
(ind) (Triple A ind) rating to the Rs. 1200 Crore Tier II
bonds of the Bank currently outstanding.
The deposit programme of the Bank has also been rated as
tAAA (ind). The tAAA (ind) rating indicates highest credit
quality and denotes that the protection factors are very
high. The short-term debt programme has also been rated
F1+(ind) which shows the strongest capacity for timely
repayment of the financial commitments
The ratings take into account BOB's important position in
the Indian financial system, implicit sovereign support,
widespread branch network, steady improvement in core

banking operations, an improved asset quality, consistent
growth in low cost deposit base, comfortable liquidity
position, satisfactory capitalisation and initiatives in
business process re-engineering and also in information
technology infrastructure of the bank. The FITCH has
observed that the BOB has since focused on upgrading skill
sets of its employees, including hiring of specialists at
salaries superior to the Bank’s own pay structure, which is
probably a “first” among government banks.
The Bank is raising Rs.600 crores (Rs.300 crores with green
shoe option of Rs.300 crores) towards tier II capital by
issue of unsecured subordinated bonds through private
placement basically for augmenting the Capital Adequacy
Ratio (CAR) which is 12.65% as of 31 st March 2003. The
current CAR of the Bank is well over the statutory
requirement of 9%.
INTERNATIONAL BANKING
Bank of Baroda (BOB) opened its first branch abroad in
Mombasa, Kenya in 1953. Since then BOB has come a long
way in expanding its international network and today it is a
leading International Bank from India having significant
international presence with a network of -61- branches
(including of subsidiaries/ joint ventures) in - 16- countries
spread over all the time zones over the Globe. BOB is thus "
Round the clock around the Globe Bank". It is further in the
process of identifying/ opening more overseas centers for
increasing its global presence.
Money Centre Branches
Six branches at London, New York, Brussels, OBU Mauritius,
OBU Nassau and Dubai are our Money Centre Branches
Correspondent Links
This international network is augmented by the
correspondent links with more than 500 leading Banks in
every country around the world over.

Indian network
The international network is supported by a large Indian
network through International Business Branches, Non
Resident Indian Branches, 116 Authorised Forex Branches
and more than 2500 other branches.
Being the second largest Bank of the country with maximum
number of branches abroad among the Indian Banks, BOB is
well positioned to offer variety of services, products and
financial solutions to a cross section of clients, suiting to
their banking requirements through one of the best banking
relationship networks both in terms of strength and spread
among the Indian financial entities.
BOB provides a wide range of services to its customers
across the globe.

PRODUCTS & SERVICES
By Branches in India
The banking services at the International Business Branches
(IBB), Non Resident Indian Branches, 116 Authorised
Branches as well as 2500 other branches are provided for
the benefit of Indian customers, corporates, NRIs, Overseas
Corporate Bodies, Foreign Companies/ Individuals as well as
Foreign Banks etc. BOB provides wide range of products/
services to its customers for their international business
requirements. Brief details of services provided are as
under :-
1) NRI Banking
2) Foreign Currency Loans in India (FCNR 'B' Loans)
3) Export Finance / Services
4) Import Finance / services
5) Correspondence Banking Services in India
6) All General Banking Services
7) Treasury Services
By Branches outside India
The international banking services of BOB at its overseas
branches are provided for the benefit of its Indian
customers, local customers, NRIs, subsidiairies and joint
ventures abroad of Indian corporates, foreign entities,
multinational corporates, Banks as well as customers
around the globe.
The important services provided are :-
1) All general Banking Services including Corporate/
Retail lending
2) NRI Banking
3) Foreign currency credits to the Indian corporates
4) Arranging/ participating in the Syndicated loans of
Indian corporates as well as rated multinational
corporates.
5) Correspondent Banking services to the Indian Banks/
corporates
6) Trade Finance (Bills Discounting)

7) International Treasury Services
The cross border foreign currency lending to Indian
corporate, trade finance and treasury services are provided
at the money center branches as well as subsidiary in Hong
kong. The general Banking Services are provided at all the
branches/ subsidiaries/ joint ventures.

CREDIT CARDS
BOBCARD PARAS INTERNATIONAL
DESCRIPTION
This card is affiliated with MasterCard International and is
accepted in over 1,10,000 establishments in India and over
29 million outlets across the globe. It is also accepted on
about 8,00,000 ATMs worldwide.
ELIGIBILITY
Individual: Annual income of Rs. 60,000.
Company : Paid-up capital Rs. 3,00,000.
FEATURES
 Revolving credit : Rs. 21,000.
 Cash withdrawal: Rs.5,000 per month.
 Service charges on purchase : 2.25%
 Service charge on Cash withdrawal : 2.5% or Rs. 125

 whichever is higher.
 Insurance : Free accidental insurance of Rs.
2,50,000(in case of death).
 Minimum payment : 5%
 Comprehensive monthly statements.
 Zero interest period.
 Prompt replacement for lost card.
 Limited liability.
FEES
Principal card : Rs.300 per annum.
Add-on : Rs. 200 per annum.

BOBCARD PARAS ELECTRONIC
DESCRIPTION
Bobcard Limited is one of the few banks to
issue Electronic Credit Card in India. Bobcard
Paras Electronic gives you a highly secure
environment to use the credit card. It is a non-embossed
card so it can only be accepted at EDC terminals or ATMs,
this reduces chances of any malpractices with your credit
card and gives you a relaxed highly secure utility with your
credit card. It is an International Master Card and accepted
over 25,000 merchants across India.
ELIGIBILITY
Individual: Gross Annual Income of Rs. 60, 000.
Company: Paid-up capital Rs. 3,00,000.
FEATURES
 Revolving credit : Rs. 21,000.
 Service charge on purchase : 2.25%

 Service charge on Cash withdrawal : 2.5% or Rs. 125
 Insurance : Free accidental insurance of Rs.
2,50,000(in case of death).
 Minimum payment : 5%
FEES
Principle: Rs. 300 per annum.
Add-on: Rs. 200 per annum.

BOBCARD SILVER
DESCRIPTION
This card is affiliated with Visa international.
It is welcomed at over 1,10,000 Member
establishments in India. It is a photo card.
ELIGIBILITY
Individual : Annual income of Rs. 75,000.
Company : Paid-up capital of Rs. 3,00,000 or more.
FEATURES
 Revolving credit : Rs. 25,000 per month.
 Service charge on Cash withdrawal : 3% or Rs. 150
 Insurance : Free accidental insurance of Rs. 2,00,000,
In case of air-accident Rs. 4,00,000.
 Minimum payment : 5% per month.

Cash can be withdrawn at any branch of BOBCARDS Ltd.
or at any of the specified branches of Bank of Baroda.
FEES
a. Rs.400/- p.a. for principal cardholder
b. Rs.250/- p.a. for add-on cardholder

BOBCARD PREMIUM
DESCRIPTION
This credit card is affiliated with Visa
International & valid throughout the world. It
is a photo card.
ELIGIBILITY:
Individual : Annual income of Rs. 1,00,000 or more.
FEATURES:
 Cash withdrawal: Rs. 10,000 per month.

 Spouse insurance : Rs. 2,00,000 (need not be a
bobcard holder).
FEES

BOBCARD EXCLUSIVE
DESCRIPTION
This card is welcomed at over 29 million
Merchant Establishments and over 8,00,000
ATMs worldwide. This card is affiliated with
MasterCard International and is very popular amongst the
Bobcards holder.
ELIGIBILITY
FEATURES
 Interest on purchase : 2.25%
 Interest on Cash withdrawal : 3% or Rs. 150
bobcard holder).
 Baggage insurance : Rs.10,000 (for air travel only).
In case of medical emergency for a cardholder, his
spouse or a family member, the cardholder can draw
cash upto a maximum of Rs.15,000 from any of our
specified branches other than at the city of residence
subject to production of satisfactory evidence. This
facility is over and above the cash advance facility of
Rs.10,000 p.m.
FEES

BOBCARD GOLD
DESCRIPTION
International & valid throughout the world. It
is a Photo Card.
ELIGIBILITY
FEATURES
whichever is higher.
bobcard holder).
In case of medical emergency for a cardholder, his
spouse or a family member, the cardholder can draw
cash upto a maximum of Rs.15,000 from any of our
specified branches other than at the city of residence
subject to production of satisfactory evidence. This
facility is over and above the cash advance facility of
Rs.15,000 p.m.
FEES

BOBCARD GLOBAL
DESCRIPTION
International & valid throughout the world on
over 30 million establishments & 8,00,000
Visa ATM's. It can only be applied by a corporate.
ELIGIBILITY
Individual : Not applicable.
Company : Turnover of Rs.1 crore or more.
FEATURES
 Revolving credit : Rs. 3,00,000 per month.
 Cash withdrawal: Rs. 15,000 per month.
 whichever is higher. (Outside India : 3.33% )

bobcard holder).
FEES
Add-on : Not applicable
Internet/Mobile Banking
A Hi-Tech Convenience Banking product suite of Bank
of Baroda Welcome to the OmniBOB suite of services from
Bank of Baroda i-BoB and m-BoB are two services which

allow you to access your account at your convenience
through the internet or your mobile phone.
i-BoB and m-BoB cut across all barriers of conventional
time and place based banking. It offers you a truly round
the clock, around the globe banking service.
Just visit www.bankofbaroda.com and log-in to i-BoB/m-
BoB and access your account via the internet for balance
enquiries, transaction details, order a cheque book and find
the status of your order.
Similarly, use your mobile phone (SMS/WAP) to access
these services.
OBJECTIVES
1. To measure the customer satisfaction level regarding the

various products and services offered by Bank of Baroda.
2. To determine the most popular and widely used services.
3. To determine the factors that motivate people to chose their

primary bank and the factors that help to develop the
awareness level towards the bank.
4. To analyze the major problems faced by the users while

accessing the bank’s services and devise methods to improve
the bank’s services.
LIMITATIONS
1. The survey was conducted in selective areas because of
constraints of time and resources. Therefore the findings
cannot be generalized or claimed until further research has
been carried out.
2. The sample size was 150, which may not reflect a true
picture of the consumers mind. Because of these constraints
the analysis may not be accurate and may vary when tested in
different places and time.
3. Details on the precise nature of consumers goals was

limited, for example the measures used only captured certain
information on standards that individuals had in mind as
acceptable outcomes of their goal directed behavior.
4. Also the research does not elicit more subtle goals such as
mood repair motives. So the possibility of personal biases of
the respondents may not be precluded.
5. Because in-bank behavior was measured after the banking

encounter, some information on the different forms and
dynamics of the behavior was inevitably not captured.
6. The situation in which a person is questioned about routine

actions is an artificial one at best. Due to the influence of
questioning process, respondents may furnish quite different
information from facts.
Thus, though the study is not conclusive in nature it tends to

explore the consumers’ perceptions and ideas about the services
of the bank.
METHODOLOGY
The project was divided into four stages. The first stage included
gathering information about the bank’s profile, the various
schemes launched by the bank and getting acquainted with the
working of the bank. The second stage involved determining the
objective of the study, knowing the target audience and drafting
a questionnaire. The questionnaire was designed keeping in mind
the target audience and objectives of the study. It was non-
disguised in nature and included a few open-ended questions.
Visits to different branches of the bank were made. Around 50%
of the respondents surveyed were from the XXXXX branch, 30%
respondents were surveyed from the XXXX branch and rest of
the respondents were surveyed from the XXXXX branch . The
further details of the survey are presented below:
RESEARCH PLAN
The research conducted was exploratory in nature and the goal

was to gather preliminary data to shed light on the real nature of
problems and to suggest possible solutions or new ideas. It
involves getting a feel of the situation and lays emphasis on the
discovery of ideas and possible insights.
DATA SOURCES
The research can call for gathering secondary data, primary data
or both. Secondary data is the data that was collected from
another purpose and already exists somewhere. Primary data is
gathered for a specific purpose and is collected by the researcher
himself.
The data used in this project is primary data collected from the
various respondents. Secondary data available in different books
and product catalog was also used in compiling the report.
DATA COLLECTION FORM
For the purpose of this project, a questionnaire was designed to

collect data. The questionnaire was non-disguised because the
objective and purpose was conveyed to the respondents before
asking for their responses. The questions were structured open
for general information and closed for collecting specific
information.
SAMPLING PLAN
The sampling unit comprised of the people present in the various

branches of the BANK OF BARODA. The sample size taken for the
study was hundred fifty which. The samples were chosen on the
basis of random sampling and these respondents belonged to
middle and upper class salaried and self-employed people,
students, professionals and housewives. The surveyed
respondents belonged to the age of 18 years and above.
The research was carried out in the following branches of the

bank;
1. XXXXX
2. XXXXX
3. XXXXXX
PRE-TESTING
It involved in applying the draft questionnaire to a sample

of 15 people. This was done to evaluate the suitability of
the questionnaire for accomplishing the objective and to
find out the drawbacks and errors in the questionnaire if
any.
EVALUATION
The data, which was collected, was summarized and tabulated for
further analysis. The analysis performed was mainly comparative
analysis involving statistical analytical method. The results are
shown in the following section.
ANALYSIS
1. It was found that the Savings Bank account scheme offered by

the bank enjoyed the maximum awareness level followed by
Cards. However, schemes like Bank at campus and Business
multiplier were rated low on the awareness scale.
Percentage
100%
80%
60%
Percentage
40%
20%
0%
v
C
FD
O n
BM
RD
BC
PP
SB
KB
s
In
er
th
2. As far as the usage level of the various offerings of the bank
was considered the savings bank account was rated the
highest followed by Cards.
Usage level
0.8
0.6
0.4 Usage level
0.2
0
O v
C
O e
FD
L
BC
BM
RD
SB
KB
PP
s
In
in
er
nl
3. Convenient timings of the bank emerged to be the most crucial th
factor affecting the choice of the bank followed by Proximity and

Exclusive service.
0.35
0.3
0.25
0.2 Series1
0.15 Series2
0.1
0.05
0
Exclusive
Convenient
Office
Competent
Proximity
service
timings
staff
4. Advertisements were found to be the most important factor
influencing consumers’ awareness towards the bank’s offerings
followed by the consumers’ visits to the bank.
Factors
Visits
Advertisements
Peer/Family
Others
5.Problems in operating accounts and accessing online services

emerged to be the important factors affecting the satisfaction
level of the consumers. However, around 41% of the sample
surveyed was found to be totally satisfied with the bank’s
services and did not complain of any problem.
0.2
0.15
0.1
%age
0.05
0
Insensitive
Incompetent
Operating
response
Accessing
Sluggish
accounts
service
online
staff
staff
* sluggish response = long waiting times at the bank (cash,
dd/po,atm, opening new accounts)
* account operation = late credit of cheques, delayed receipt of

debit cards, chq books and monthly statements )
 Staff = incompetent and insensitive.
6. Respondents suggested various improvements in

Bank Of Baroda’s present services. Some of them are listed
below:
a. ATM’s-A majority of respondents suggested more number

of ATM’s to be opened esp. in the college campuses and small
cities. It was also suggested that the bank should take steps
to reduce incidence of cash shortage on the ATMs.
b. Inadequate staff - A large number of respondents felt that

the staff in the branch is less due to which a lot of time is
consumed. Also it was felt that the personnel should be
prompt in resolving the customers’ problems.
c. Increase in counters- A lot of respondents felt that multiple

counters (esp cash and DD/PO ) should be opened so as to
reduce the servicing time and give personalized service to the
customers.
d. It was felt that the bank should reduce the time it takes for
cheque clearing and collection. Money transfer through
anywhere banking to other cities takes long time and a lot of
follow up with branch.
e. Less interest rate and charges – A majority of the

respondents felt that the interest rate charged by the bank on
cards and personal loans is high as compared to the
competitors and should be reduced.
f. It was suggested to make the bank statements more clear

and simple, which could be easily understood .It was also
suggested that the mini statements issued by the bank, should
state all relevant transactions.
g. It was revealed that a lot of consumers wanted the bank to

devise a method, which would enable users to get their
account status through SMS and Email.
h. The respondents complained that the branches did not have

adequate space to enable visitors to move easily without
feeling suffocated. It was also felt that a few branches did not
have an adequate parking space. The respondents felt that the
authorities should pay more attention into the matter.
i. Also it was felt that the number of lockers per branch

should be increased.
7.The respondents suggested the following new services that

the bank should consider to launch. Some of the suggestions are
listed below:
a. Online customer service
b. Feature of account-to-account transfer in ATMs ( 3 rd

party)
c. More MEs which accept Bank Of Baroda Bank credit/debit

cards.
d. To make money available on demand at those branches
where ATMs are not available.
e. Increase in daily withdrawal limit over ATMs ( from Rs

15000 to 25000 per day )
f. Information of new schemes and product launches by mail.
g. Improvements in inter city funds transfer service.
h. ATM card retrieval through any other means than going to

the branch.
i. Launch more branches esp. in state adjacent to borders
9.83%(approx) of the sample surveyed was willing to recommend

Bank Of Baroda’s services to its peer and family.
Willingness to recommend
1
0.8
0.6 Series1
0.4 Series2
0.2
0
1 2 3
To analyze the customer preferences and satisfaction further, the

target audience has been broadly divided into two groups-Self
Employed and Salaried. This is done so as to find whether (and to
what extent) the factors affecting customer satisfaction vary with
occupation and income. The findings of the study are presented:
COMPARATIVE STUDY OF TWO GROUPS
I. Self employed
Demographic profile-
Age:
18-24 years: 04 respondents
24-30 years: 08 respondents
30yrs &above: 14respondents
Sex:
No of males: 19
No of females: 07 respondents
Income:
Below Rs. 2lac pa: 06 respondents
Rs. 2-4 lac pa: 06 respondents
Rs.4-6 lac pa: 10 respondents
Rs. 6 lac &above: 04 respondents
II. Salaried:
Demographic profile
Age:
18-24 years: 07respondents
24-30 years: 10respondents

30yrs &above: 07 respondents
Sex:
Males: 16 respondents
Females: 08 respondents
Income:
Below Rs. 2lac pa: 11 respondents
Rs. 2-4 lac pa: 09 respondents
Rs.4-6 lac pa: 2 respondents
Rs. 6 lac &above: 2 respondents
1. A comparative study of the awareness level of the two

groups regarding the various schemes of the bank.
200
150
100 Self employed

Salaried
50
0
SB BM RD FD KB PP C L BC Inv On
2. A comparative study of the usage level of the
respondents of the two groups .
140
120
100
80
Self employed
60
40 Salaried
20
0
v
C
FD
O n
BC
BM
RD
SB
KB
PP
s
In
O
er
th
3. A comparative study of the respondents of the

two groups using Bank Of Baroda as their primary
bank.
100%
80%
60% Yes
40% No
20%
0%
Salaried Self employed
4. A comparative study of the factors influencing consumers’
awareness.
50
40 Salaried
30
20 Self employed
10
0
Advertisemen
Visits to ICICI
Office
Peer/Family
t
5. A comparative study of the problems faced by the

two groups while accessing the bank’s services.
40
30 Salaried
20 Self employed
10
0
Incompetent
Insensitive
None
Accessing
services
online
staff
staff
SWOT ANALYSIS
A SWOT analysis of the bank is as follows:
Strengths Weaknesses
 Premiere market image  Low awareness and

usage levels of a few
 Focus on quality
schemes
 Committed staff
 Slow processing
 Satisfied customers
Threats Opportunity
 Highly competitive  Convert image into

market market share
 Stagnant urban demand  Wide product portfolio
 Positive rub-off due to

some unique schemes
RECOMMENDATIONS
1. The bank should launch awareness campaign for making

various alternate channels of banking more popular like mobile
banking and internet Banking. Making customers aware of new
schemes and interest rates through e-mail or direct mailer
would be a step in this direction.
2.The bank should follow a fierce marketing strategy regarding its

telebanking services. At the same time schemes like Business
multiplier, Recurring deposits and Kid-e-bank should be pursued
with an intensive ‘advertising promotion’.
3.The bank should devise ways to improve the working of ATMs

as a majority of the respondents were dissatisfied with the
services over ATMs. Also the bank should install more number
of ATMs in the crowded branches and also in other class B cities.
Feature of account-to-account transfer in ATMs (third party
transfer)
4. A majority of the respondents complained of delayed

compliance of instructions due to inadequate staff. Also number
of cash counters should be increased as the first step towards
giving the customers a quicker service.
5.The bank should devise ways to provide customers with simple

and easy to understand bank statements
BIBLIOGRAPHY
 Information collected from the Bank.
 Referred to –
o Business Today,
o Business India
o Business World.
o Economic Times
 Websites
ANNEXURE
CUSTOMER QUESTIONNAIRE
Preamble: I am a management student of IGNOU. I am doing

project on Bank Of Baroda. So I need your valuable co-operation
in this regard.
Name of the organization ……………………………………………………
Addresss……………………………………………………………
………………………………………………………………………
………………………………………………………………………
Age ……… Sex. :  Male  Female
Contact Person……………………………………………………………….
Office Phone…………………… Mobile ………………………
1. Kind of the Organisation
 Manufacturing  Trading  other specify
2. What is your annual income
Less than 2 Lakhs 
Between 2 Lakhs to 4 Lakhs 
Between 4 Lakhs to 6 Lakhs 
Above 6 Lakhs 
3. Do you maintain account with any bank ?
If yes, go to question no 4 otherwise go to no 11.
4. Specify the name of the bank(s)

5. How frequently do you visit the bank ?
 Everyday
 2-3 times a week.
 Once a week.
 Other.
6. What type f A/C you maintain ?
 Current A/C
 Saving bank A/C
 Fixed deposit A/C
 Other specify.
7. What facilities are you availing from the bank
 Anywhere banking  Cash Pickup
 Internet banking  Cash delivery
 Phone banking  Cheque Pickup
 Temporary overdrafts.  Draft delivery
 Document collection  Balance inquiry
 Multicity cheques  Foreign remittance
 Sweep  Utility bill

payments
 No such facilities availed.
8. Does the bank on cash transaction impose any restriction ?
 Small denominations not acceptable (less than 100)
 Cash deposit charges.
 Deposit at non–home branch
 Cash withdrawal at non-home branch

 No such restrictions.
9. If better facilities are provided, can you shift to other bank ?
 Yes  No
10. Do you want to open A/C with any bank ?
 Yes  No
If no go to question no 16.
11. Name the bank in which you are interested.
12. What type f A/C you maintain ?
 Current A/C
 Saving bank A/C
 Fixed deposit A/C
 Other specify.
13. What facilities are you availing from the bank
 Anywhere banking  Cash Pickup
 Internet banking  Cash delivery
 Phone banking  Cheque Pickup
 Temporary overdrafts.  Draft delivery
 Document collection  Balance inquiry
 Multicity cheques  Foreign remittance
 Sweep  Utility bill

Payments
 No such facilities availed.

14. What is the broad criteria for selecting any bank ?
 Better facilities.
 Convenience.
 Image of the bank.
16.The most important factor that influence you about banking
 Visits
 Advertisements
 Peer/ Family
 Others.
Any Suggestions :………………………………………………….
………………………………………………………………………
………………………………………………………………………
Signature with date

Bank of Baroda

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PROJECT REPORT

SCHOOL OF MANAGEMENT STUDIES

THIS IS TO CERTIFY THAT THE PROJECT TITLED

HAS BEEN COMPLETED UNDER MY GUIDANCE AND I AM

SATISFIED WITH THE WORK CARRIED OUT BY HIM. THE

WORK IS AN ORIGINAL ONE AND HAS NOT BEEN

SUBMITTED EARLIER TO ANY OTHER INSTITUTION FOR

FULFILLMENT OF THE REQUIREMENT OF A COURSE OF

it not been for the extremely patients and knowledgeable people

who granted me valuable time.

I am thankful to my project guide xxxxxxxxxx for all the help

extended to me during the compilation of this project report.

Sadly, I can’t mention all the persons who have given me

invaluable help. But my sincere thanks to xxxxxxxxxxxx for his

Bank of Baroda (BOB) was established on 20th July 1908 in

the princely state of Baroda by the great visionary, Sir

Sayajirao Gaekwad III. The founder strongly believed that,

" a bank of this nature would prove to be a beneficial

agency for lending, transmission and deposit of money and

a powerful factor in the development of art, industries and

commerce of the state as also of adjoining territories".

Unlike other state-owned bank, BOB could maintain its

unique identity and established a strong national presence

even before independence, to all corners of the country.

The Bank was led by eminent personalities and great

bankers like Shri V.D. Thakersey, Walchand Hirachand, R.D.

Birla, N.M. Chokshi, M.G. Parikh and others.

BOB was amongst the first few banks to venture overseas

by opening a branch at Mombassa in 1953. Today it has 38

branches and 23 offices of its overseas subsidiaries having

presence in 16 overseas countries.

an uninterrupted profit record, serving generation after

generation around the globe.

1. Shri P.S. Shenoy Chairman & Managing Director

2. Dr. A.K. Khandelwal Executive Director

3. Shri Vinod Rai Nominee of Govt. of India.

4. Mr. Ramesh Chander Nominee of RBI.

5. Shri Piyush Goyal Director

6. Shri B.N. Gulvepatil Director

7. Shri Gurmeet Singh Uberai Director

8. Shri Narayan Ganesh Mhatre Director

9. Shri Prem Prakash Pareek Director

10. Amritlal Sanghvi Director

11. Shri Pradip N. Khandwalla Director

Banking system occupies an important place in a nation's

economy. A Banking institution is indispensable in a modern

society. It plays a pivotal role in the economic development

of a country and forms the core of the money market in an

In India, though the money market is still characterised by

the, existence of both the organised and the unorganised

segments. Institutions in the organised money market have

grown significantly and are playing an increasingly

important role. The unorganised sector, comprising the

money-lenders; and indigenous bankers.; caters to the

credit reeds of a large number of persons especially in the

countryside. Amongst the institutions in the organised

sector of the money market; commercial banks and co-

operative banks pave been in existence for the past several

decades. The Regional Rural Banks came into existence

since the middle of seventies. Thus, with the phenomenal

geographical expansion of the commercial banks and the

setting up of the Regional Rural Banks during the recent

past, the organised sector of money market has penetrated

into rural areas as well.