Date: 11 July 2011: School of Management Studies, MNNIT Allahabad

CERTIFICATE:
Date: 11 July 2011
This is to certify that Mr. Bhupesh Kumar Singh (registration no .2010mb79) , MBA Third Semester , has completed his Summer Training Project Titled Working of City Sales Office in growth in CASA Deposit and Third Party Product from Bank of Baroda , Allahabad , in partial fulfillment of MBA program under the been submitted anywhere in any manner .Guidance of the undersigned . The work is originally and has not been submitted anywhere in any manner.
Mr. A.K. Chatterji Sr. Manager Bank of Baroda (Project Guide)
Ikramul Haq Anurag Singh (Marketing deptt. CSO)
1 School of Management Studies, MNNIT Allahabad
DECLARATION
I Bhupesh Kumar Singh, student of MBA-3rd Semester from Motilal Nehru National Institute of Technology, Allahabad, hereby declare that the project titled Working of City Sales Office in growth in CASA DEPOSIT and THIRD PARTY PRODUCT is a summer training project for the partial fulfillment of my course. The information, facts and finding in this report are based on my indigenous work and are original in nature and any resemblance with any existing work is purely coincidental.
Bhupesh Kumar Singh Place: Allahabad MBA- 3rd semester (2010-2012) MNNIT Allahabad
ACKNOWLEDGEMENT
Perfect is the famous saying that knowledge is a priceless thing and when a person gets practical experience under the guidance of experts of the desired field it indeed becomes so. With a sense of great pleasure and satisfaction, I present this dissertation report titled Working of City Sales Office in growth in CASA DEPOSIT and THIRD PARTY PRODUCT. Completing a task successfully is never a one-man effort. Similarly completion of this report is a result of invaluable support and contribution of number of people in direct and indirect manner. In the regard, I am immensely thankful and convey my sincere gratitude to our dissertation report guide Mr. A.K. Chatterji Bank of Baroda Allahabad for his guidance, constant inspiration and his keen interest shown on us during the project. We deliberate our profound sense of gratitude to him. It would be a lack of sincerity on my side if I fail to thank people at the City Sales Office of Bank of Baroda who helped me with their practical knowledge of this field.
BHUPESH KUMAR SINGH MBA (2010-12) MNNIT ALLAHABAD
Table of Content
Certificate Declaration Acknowledgement Executive Summary 1. Introduction
1.1 1.2 1.3 Background Objective Research Methodology
2. Literature Review
2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 Introduction Company Profile Current Account Saving Account Third Party Product Economic Review Peer Comparison Various Types Of Research Identifying the research gap Conclusion
3. Research Plan
3.1 Objective
3.2 3.3 3.4
Research Methodology Research design Conclusion
4. Data Analysis 5. Recommendation and Conclusions 6. References
EXECUTIVE SUMMARY
The objective of this project is to study about the working of city sales office in respect to CASA Deposit and Third Party Product of Bank of Baroda in order to find out the shortcomings and advantages and to give executable suggestions in order to make Bank of Baroda a market leader in the existing segment of its deposit and third party product. CSO (City Sales Office) is basically a marketing division in Bank of Baroda which work on all types of deposits (dealing with liability) and third party product. But my study is based on CASA deposit (Current Account Saving Account) and third party product. I have experienced the heat of work for more than six weeks and it was really a great exposure in the corporate world. I have learned a lot regarding the working of banks related to mentoring and noticed various problems which they face and are still facing during mentoring period. It was really great working with this prestigious organization of Bank of Baroda
1 Introduction
1.1 Background
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. The government's regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dials a pizza. Money has become the order of the day. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below:

Early phase from 1786 to 1969 of Indian Banks Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms. New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991.
To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and PhaseIII.
PhaseI
The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as private shareholders banks, mostly Europeans shareholders. In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canada Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935. During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly
small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Central Banking Authority. During those days public has lesser confidence in the banks. As an aftermath deposit mobilization was slow. Abreast of it the savings bank facility provided by the Postal department was comparatively safer. Moreover, funds were largely given to traders.
PhaseII
Government took major steps in this Indian Banking Sector Reform after independence. In 1955, it nationalized Imperial Bank of India with extensive banking facilities on a large scale especially in rural and semi-urban areas. It formed State Bank of India to act as the principal agent of RBI and to handle banking transactions of the Union and State Governments all over the country. Seven banks forming subsidiary of State Bank of India was nationalised in 1960 on 19th July, 1969, major process of nationalisation was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country were nationalized. Second phase of nationalization Indian Banking Sector Reform was carried out in 1980 with seven more banks. This step brought 80% of the banking segment in India under Government ownership. The following are the steps taken by the Government of India to Regulate Banking Institutions in the Country:

1949: Enactment of Banking Regulation Act. 1955: Nationalization of State Bank of India. 1959: Nationalization of SBI subsidiaries. 1961: Insurance cover extended to deposits. 1969: Nationalization of 14 major banks. 1971: Creation of credit guarantee corporation. 1975: Creation of regional rural banks. 1980: Nationalization of seven banks with deposits over 200 crore.
After the nationalization of banks, the branches of the public sector bank India rose to approximately 800% in deposits and advances took a huge jump by 11,000%. Banking in the sunshine of Government ownership gave the public implicit faith and immense confidence about the sustainability of these institutions.
PhaseIII
this phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalization of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money. The financial system of India has shown a great deal of resilience. It is sheltered from any crisis triggered by any external macroeconomics shock as other East Asian Countries suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high, the capital account is not yet fully convertible, and banks and their customers have limited foreign exchange exposure. State-owned Bank of Baroda (BoB) is among the few banks that have implemented the centralized banking system in almost all of its branches in India. The bank has also set up footprint overseas with its operations extending to 26 countries. As such the bank has a significant overseas portfolio too. Apart from the core operation of lending and borrowing, BoB also derives its income from other sources. It provides guarantees and letters of credits and earns commissions on it. Besides, the bank also sells third-party products and gold coins. It was, therefore, able to report a 14% rise in other income even when other banks reported lower other income on account of mark-to market losses on government treasuries. FINANCIALS: BoB's net profit has grown at an average 31% y-o-y for the past four quarters. This was on the back of high net interest income growth. Net interest income, which grew by an average 32% in the same time, is the difference between interest earned and interest expended by the bank. The bank has managed to maintain its net interest margin at 3% for the past three quarters. This even after the banking regulator raised rates at which banks borrow from the RBI, or the repo rate. The bank was able to do this as almost 96% of the bank's assets are of floating rate nature. Any rise in the borrowing costs, therefore, is passed on to borrowers.
1.1.1 Third Party Product
Our Bank is marketing / referring the products of various mutual fund / insurance / other financial companies to esteemed customers under tie-up arrangements with the third
parties for sale & distribution of their products. Bank only acts as an agent of the customers, forwarding their applications for purchase / sale of mutual fund units to the Asset Management Companies / Registrars / Transfer Agents. The purchase of units is at customers risk and without any guarantee from the Bank for any assured return. The participation of the customers in any insurance products is purely on voluntary basis as the Insurance is the subject matter of solicitation. Marketing / Referring the Insurance products by the Bank should not be construed as an advice, an offer to purchase or an invitation or solicitation to undertake any activity or enter into the transaction relating to the Insurance Products. The contract of Insurance is between the Insurance Company and the insured, and not between Bank of Baroda and the insured. However, keeping in view the need for transparency in the interest of esteemed customers to whom the products are being marketed / referred, Bank makes the following declaration with regard to details of commissions / other fees (in any form) being received from its tie-up partners towards Sale & distribution of their products without being liable or responsible for any loss or shortfall from the operations of the scheme of these tie-up partners 1.1.2 Current Account, Savings Account (CASA)
CASA accounts are most prominent in middle and Southeast Asia, and are an attempt to combine savings and checking accounts to entice customers to keep their money in the banks. The current account portion pays no or very low interest, while the savings portion pays an above average return. They are offered free or for a fee depending on minimum or average balance requirements. A form of CASAs have begun to emerge in the United States as well, as the banking institutions attempt to limit the disintermediation that occurs when bank-deposit interest is lower than other available short-term investments. These deposits tend to be cheaper than the bank issuing certificates of deposit (CDs) and are considered more dependable as well. CASA ratio is the ratio of the deposits in the form of Current Account & Savings Account to the total deposits. It should be higher for a bank because interest paid on savings account is very low and no interest is paid on current account deposits. In this way, the banks get money at low cost. How is CASA different from term and demand deposits? Current and saving accounts remain operational. Depositors don't need to give prior notice to withdraw money, however, in case of term deposits; the money is locked in for a specific period. If a depositor wishes to withdraw the money before maturity, he may have to pay a fine. Usually, an overdraft facility is available with the current account deposit. Demand deposit gives you the facility to withdraw your money anytime.
1.2

Objective of the Study:

Topic given under as summer internship program To study the customer of BANK OF BARODA.
To study the working of City Sales Office in casa deposit and third party product To know about the how many people have knowledge about insurance To know about the how many people have knowledge different deposits accounts To find out the problems which they had or still facing from insurance service provide by BANK OF BARODA.
1.3
1.3.1
Research Methodology:
SOURCES OF DATA:
The study is based on both primary & secondary data. Primary data is the data that is collected personally, and is first hand as well as unique in nature. For this study , the primary data has been collected with the help of the following two methods: (1) Personal interview (2) Questionnaire Secondary data is second hand data or information that has already been collected by someone else for a different purpose. For this study , the secondary data has been collected through: Magazines Books Newspapers Circulars In-house journals Internet The exploratory research method has been adopted for study. Exploratory research is a type of research conducted because a problem has not been clearly defined. Exploratory research helps determine the best research design, data collection method and selection of subjects. Exploratory research often relies on secondary research such as reviewing available literature and/or data, or qualitative approaches such as informal discussion with employees mentors, management or competitors.
1.3.2 Research Instruments;
The data collection instruments used for this study are personal (unstructured) interviews and questionnaires.
Sample Design: Sample refers to small part or subset of the total population, being similar and representative of whole. The sample design of a sample survey refers to the techniques for selecting a probability sample and methods to obtain estimates of the survey variables from the selected sample.It is an integral part of the research design.
1.3.3
Target Population:
It includes the new entrants/employees of the bank of Baroda and some other private and public sector banks who were mentored.
1.3.3.1 Sampling Frame: The sampling frame for the research includes new employees and mentors of some of private sector and public sector banks.
1.3.3.2 Type of Sample The type sampling chosen for the project is convenience sampling and random sampling. A random sampling refers to taking a number of independent observations from the same probability distribution, without involving any real population. Random sampling all members of the population have an equal chance of being selected as part of the sample.
2 Literature Review
2.1 Introduction
Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India which started in 1786, and the Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India. Indian merchants in Calcutta established the Union Bank in 1839, but it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India. (Joint Stock Bank. That honor belongs to the Bank of Upper India, which was established in 1863, and which survived until 1913, when it failed, with some of its assets and liabilities b foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches in Madras and Pondicherry, then a French colony, followed. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India, mainly due to the trade of the British Empire, and so became a banking center. Being transferred to the Alliance Bank of Simla. The Bank of Bengal, which later merged with the Bank of Bombay and the Bank of Madras to form the Imperial Bank of India in 1921.
The period between 1906 and 1911 a number of banks established then have survived to the present such as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canada Bank and Central Bank of India. 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 involvement of the state in different segments of the economy including banking and finance. The major steps to regulate banking included: In 1949, the in 1948, the Reserve Bank of India, India's central banking authority, was nationalized, and it became 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 directors. 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.
2.1.1 Nationalization:
The RBI was nationalized on January 1, 1949 in terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, By the 1960s the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the possibility to nationalize the banking industry. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalization. The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalized the 14 largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the
Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking business of India. After this, until the 1990s, the nationalized banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.
2.1.2 Liberalization:
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 new generation 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 next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%, at present it has gone up to 74% with some restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India. People not just demanded more from their banks but also received more. Currently, banking in India is generally fairly mature in terms of supply, product range 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. Markets First 31st May, 2010 Headlines Equity benchmark indices recover lost ground with a 2.5% gain for the week on the back of short covering.
10 year GOI Benchmark at 7.55% (17 bps hardening WoW) due to pressure of liquidity.
Robust GDP growth of 7.4% for the FY 2010 - helped by higher than expected growth from manufacturing and agriculture. Bond market update 10 year benchmark G-sec at 7.55% on 28th May, 2010 (hardening of 17bps WoW) The yields on the G-sec started hardening in view of the impending liquidity shortage due to the 3G auction, tax outflows and the weekly auction supply. The yields on the US Treasury also hardened. Corporate bonds yields range bound in view of ample liquidity The 10 year AAA bond traded at a yield of around 8.67% compared to 8.60% observed in the previous week. The 1 year bond was stable at 6.65%. The AAA 5 year corporate bonds hardened to 8.18%. The hardening is due to the increase in yields in government securities and the impending liquidity shortage. GDP growth and inflation The robust GDP growth of 7.4% for the FY 2010 was triggered by the higher than expected growth from manufacturing and agriculture, boosted by the economic stimulus. The primary articles inflation rate for the week ended 15th May stood at 15.9% vis--vis 16.19% a week earlier - the index declined by 0.1%. The fuel and power index rose 0.05% taking the YoY inflation rate to 12.08% from 12.33% a week earlier. Foreign exchange reserves India's foreign exchange reserves for the week ended 21st May stood at $273.36 bln lower by $2.87bln. Global news update for bond markets au of Economic Analysis, real GDP of the US increased at an annual rate of 3.0% in the first quarter of 2010 as against 3.2% in the advance estimate. In the fourth quarter of 2009, real GDP had increased 5.6%. As per the Office for National Statistics, GDP in the UK rose by 0.3% in the first quarter compared to an initial measurement of 0.2% as rebounding investment and the biggest jump manufacturing for four years strengthened the recovery.
2.2
COMPANY PROFILE
PASSION TO PERFORM
PASSION TO SERVE
Our Mission:
2.2.1 Brief History:
Bank of Baroda is having a long, eventful and glorious history of more than 101 years. HH Sir. Maharaja Sayajirao-III founded the Bank. The Bank made a humble beginning in 1908 in a small building in Baroda. On 20th July 1908 Bank of Baroda Limited was registered under the Baroda Companies Act of 1897, with a paid up capital of Rs. 10 lacs.
In the year 1935 Bank became a scheduled Bank. RBI included the Bank in the second schedule of RBI and brought under direct control of RBI. At the time of independence in 1947, Bank of Baroda was a regional bank with 48 branches. However, it found a place in Indias Fortune Five list of Banks. During 1953 - 1958 Bank opened 30 new offices
and had become an all-India Bank. Bank of Baroda (BSE: 532134) (BoB) (Hindi: ) is the 3rd largest bank in India, after State Bank of India and Punjab National Bank and ahead of ICICI Bank. BoB has total assets in excess of Rs. 2.27 lakh crore, or Rs. 2,274 billion, a network of over 3000 branches and offices, and about 1100+ ATMs. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, credit cards and asset management. Maharajah of Baroda Sir Sayajirao Gaekwad III founded the bank on July 20, 1908 in the princely state of Baroda, in Gujarat. The bank, along with 13 other major commercial banks of India, was nationalized on 19 July 1969, by the Government of India.
As many as nine banks have merged with Bank of Baroda during its journey so far: Hind Bank Ltd (1958) New Citizen Bank of India Ltd (1961) Surat Banking Corporation (1963) Tamil Nadu Central Bank (1964) Umbergaon People Bank (1964) Traders Bank Limited (1988) Bareilly Corporation Bank Ltd (1998) Benares State Bank Ltd (2002) South Gujarat Local Area Bank Ltd (2004).
2.2.2 The Heritage

It all started with a visionary Maharaja's 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, trustworthy 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 territories." These words are etched into the mind, body and soul of what has now become a banking legend. Following the Maharaja's words, the emblem has been crafted to represent wealth, safety, industrial development and an inclination to better and promote the country's agrarian economy. This emblem shows a coin, symbolizing wealth, embossed with an upraised palm, a safety cover for the depositor's 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.
2.2.3 The Ethics:

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 century old 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
2.2.4 Our Logo:
Logo is a unique representation of a universal symbol. It comprises dual B letterforms that hold the rays of the rising sun. Known by Baroda Sun. The sun is an excellent representation of what our bank stands for. It is the single most powerful source of light and energy its far reaching rays dispel darkness to illuminate everything they touch. At Bank of Baroda, we seek to be the sources that will help all our stakeholders realize their goals. To our customers, we seek to be a one-stop, reliable partner who will help them address different financial needs. To our employees, we offer rewarding careers and to our investors and business partners, maximum return on their investment. The single-colour, compelling vermillion palette has been carefully chosen, for its distinctiveness as it stands for hope and energy. The Baroda Sun is a fitting face for our brand because it is a universal symbol of dynamism and optimism it is meaningful for our many audiences and easily decoded by all. It is a signal that we recognize and are prepared for new business paradigms in a globalised world. At the same time, we will always stay in touch with our heritage and enduring relationships on which our bank is founded. By adopting a symbol as simple and powerful as the Baroda Sun, we hope to communicate both.
2.2.5 Initial Emblem:
The emblem show a coin, symbolizing wealth , embossed with an an unpraised palm, a safety cover for the depositors money with a cogwheel that promotes industrial growth in tandem with the two corn ears that Stan for the progress of the staple agriculture growth in the country . 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. 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 crore through a Bond issue. In 1996 the Bank tapped the capital market with an IPO of Rs 850 crore, despite adverse market conditions prevailing then, the issue was oversubscribed, reflecting the positive public perception of the Bank's fundamental financial strength. 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 India's 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 India's first bank of truly global standards. The relocation to the imposing Baroda Corporate Centre, is a true reflection of the Bank's resolve 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'.
2.2.6 International Presence:

In the year 1953, taking a pioneering step, the Bank opened its first overseas branch at Mombasa on 14.12.1953 followed by two other branches at Kampala and Nairobi.
Subsequently, operations started in Dar-Es-Salaam in 1956 and in London in 1957. At present, the Bank has 78 overseas network branches / offices in the following 25 countries: 1 2 3 4 5 6 7 8 9 Australia Bahamas Bahrain Belgium Botswana Bangkok China Fiji Island Ghana 10 11 12 13 14 15 16 17 18 Guyana Hong Kong Kenya Mauritius Malaysia South Africa Seychelles Sultanate of Oman Singapore 19 20 21 22 23 24 25 26 27 Tanzania Trinidad & Tobago Uganda UAE UK USA Zambia Mozambique Quatar
OVERSEAS SUBSIDIARIES Bank of Baroda (Botswana) Ltd. Bank of Baroda (Kenya) Ltd. Bank of Baroda (Uganda) Ltd. Bank of Baroda (Guyana) Inc. Bank of Baroda (Tanzania) Ltd. Bank of Baroda (Ghana) Ltd. Bank of Baroda (Trinidad & Tobago) Ltd. Bank of Baroda (New Zealand Ltd.
Major Financial centers of the world Brussels, Bahamas, Dubai, Hongkong, London, Singapore and New York. Important milestones post-nationalisation: 1969: Bank was nationalised in the year 1969 along with fourteen other banks. 1972: Established Multi Service Agency for urban micro-credit. 1976: Opened the first of its Regional Rural Banks complementing its own operations in the rural heartland. Today the Bank is the sponsor for 6 Regional Rural Banks spread over 5 states and 41 lead districts. 1977: Launched Gram Vikas Kendras (GVK), an innovative model for integrated rural development. The Bank is having 170 GVK branches today. 1995: Bank raised Rs. 300 crore through a Bond issue to comply with new norms of capital adequacy. 1996: Bank launched its initial public offer of 10 crore equity shares for an aggregate amount of Rs. 850 crore. 2004: Bank entered into MOU with National Insurance Company Limited for their non life insurance products under corporate agency arrangement. 2004: Bank was ranked as the best customer centric bank among all the public sector banks operating in India by the magazine Outlook Money (Sep-2004 issue). 2005: Banks new Logo, BARODA SUN was launched 2005: CBS rollout in Powai, Mumbai 2006: Bank came out with a follow on issue of 710 lacs shares each at a bidding price of Rs. 230/- per share, which had a tremendous response from all the segments.
2008: Completed Centenary Year. 2009: CBS roll out in 100% branches & mega project Navnirmaan launched
2.2.7 Business Philosophy:

The 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 decision would be effected. This cardinal philosophy was over the 100 years of its existence, to become its biggest asset. The banking crisis of 1914 to 1918 put a lock on many banks, but not on Bank of Baroda. It not only survived but also emerged as a vital force in the world of banking a financial powerhouse.The Bank is emerging stronger, more resilient and positioned to become Indias first bank of truly global standards.
Project NAVNIRMAAN Baroda Next

A comprehensive transformation programme called NAVNIRMAAN has launched by our Bank on 22 June 2009. The Bank has partnered with McKinsey & Company for this programme, which is centered around customers and employees, and has two core elements Business Process Re-engineering (BPR) and Organization Restructuring (OR). Primarily, the main objective of this programme revolves around the following: Ensure best in class customer service Streamline processes to make life simpler for employees and customers Equip you with the best tools and techniques to discharge your roles effectively Align the Banks organization structure and systems to
help build Baroda Next and drive the new strategy.
Major Initiatives Taken By Bank In Recent Past:

Paramarsh Centre for personal counseling Sampark SOS helpline for employee Khoj talent identification and development programme Baroda Sujhav -Staff suggestion scheme BOB signed MOU with (i) Exim Bank (ii)IDFC(iii)SIDBI for co financing of projects
BGPK (Baroda Grameen Paramarsh Kendra) MOU with Grow Talent Co. Ltd For HR development (300 leaders) SUNDARAM PARIBAS Asset Management Company for Mutual funds FRANKLIN TEMPLETON Asset Management Co. for Mutual funds Baroda GOLD COIN selling started. BSE enters into an agreement with Bank of Baroda for clearing and settlement CBS roll-out in 100% branches Launching of JV IndiaFirst Life Insurance Co. Ltd. Sankalp scheme for recovery
BSVS (Baroda Swarojgar Vikas Sansthan)

Baroda Swarojgar Vikas Sansthan (BSVS) is a body registered under Societies Act and Trust Act at our Staff College with the Principal as its president and now it is being monitored by Priority Sector Deptt, BCC, Mumbai. The objectives of BSVS are: 1. To provide education, information and skills to youth for setting up own enterprise.
2. To encourage them to start suitable viable economic activities in their local areas
2.3 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. You may choose from:

Baroda Advantage Current Account Baroda Premium Current Account (BPCA) Baroda Premium Current Account-Privilege (BPCAP)
Baroda Advantage Current Account Minimum Quarterly Average Balance (QAB) Minimum Balance Charges Premature Closure Charges (If account is closed within a year) Rs 1000/Rs 1000/Rs 10000/- for individual as well as for non individual accounts Rs 500/- per quarter + Service tax for not maintaining quarterly average balance (Irrespective of Area) Rural Semi-Urban Urban/Metro Individual: Rs 100/Others: Rs 100/- + Service tax + Service tax
Baroda Advantage Current A/c Features Minimum Balance Quarterly Baroda Advantage Current A/c Average Rs 10000/-for Metro & Urban Branches & Rs 1000/- for Semi-Urban & Rural Branches once free(monthly)
Statement of account
Balance Certificate signature Verification Folio charges Issuance of cheque books
free once in a year free once in 3 months Nil for accounts with average credit bal.of more than Rs 50000/first time free cheque book of 50 leaves
i) Transfer of funds amongst CBS i) Free of charge transfer of funds through Branches Transfer of funds outside cheque irrespective of any amount . the clearing area through cheques ii) Up to Rs 1 lac Free per day a) Transfer of funds outside the clearing area through cheques drawn Above Rs1 lac to Rs 5 Rs 25/- per txn lacs on any of our CBS branches Rs 50/- Per Above Rs5 lacs b) Funds transfer amongest CBS txn branches through collection of ( To continue to recover from drawer of outstation cheques drawn on our CBS the cheque) branches. c) Funds transfer through payment of Nil cheques drawn on our outstation CBS branches received through clearing Note: For the current account holders maintaining QAB(quarterly average balance) of Rs 75000/-for the last two completed quarters* Free of charge -Any Amount *For this purpose QAB for last two completed quarters will be considered and will be reviewed every quarter. In case, the customer has not maintained QAB for last two quarters, the facility will be withdrawn. Collection of outstation cheques Normal collection charges through the base branch I. Collection of local cheques through clearing by local Non base branches II. Collection of cheque through outstation non base branches drawn on other banks with in the clearing area of that centre Free of charges Up to Rs 1 lac Free per day Above Rs1 lac to Rs 5 Rs 25/- per txn lacs Rs 50/- Per Above Rs5 lacs txn ( To continue to recover from drawer of
the cheque) Note: For the current account holders maintaining QAB( quarterly average balance) of Rs 75000/-for the last two completed quarters * Free of charge -Any Amount *For this purpose QAB for last two completed quarters will be considered and will be reviewed every quarter. In case the customer has not maintained QAB for the last two quarters the facility will be withdrawn Collection of cheque through outstation non base branches drawn on other banks with in the clearing area of that centre Free of charge up to Rs 25000/-per day per account, thereafter in excess of Rs 25000/@Rs 1.00 per thousand or part thereof Minimum Rs 25/-and maximum 2500/-For the current account holders maintainingQAB( quarterly average balance) of Rs 75000/-for the last two completed quarters * Free of charge- Any Amount *For this purpose QAB for last two completed quarters will be considered and will be reviewed every quarter. Incase the customer has not maintained QAB for the last two quarters the facility will be withdrawn
Cash deposit Local base and local non base branch No inter-Sol charges, cash handling charges beyond the prescribed limit Cash deposit free up to Rs 50,000/-per day and beyond this cash handling charges @Rs25/-per Rs 50,000 on the excess amount Outstation Non-base branch Inter Sol charges only but no cash handling charges .Cash deposit Rs 25000/-per day per account free of charges, there after in excess of Rs 25000/-service charges will be @Rs 2/per thousand or part thereof
Cash withdrawal Local base branch Free
Local Non-Base / Outstation Non- Cash with drawal up to Rs25000/ - per

base branch
day per account is free of charges thereafter service charge is levied @ Rs2/ per thousand or part there of.
Note: 1. No cash payments to third parties 2. Per transaction limit of Rs.50,000/- to customers through self cheques. Net Banking Auto Pay roll Free
Baroda
Premium
Current
Account
The Baroda Premium Current Account can be opened by any business customer from individuals to partnerships and limited companies to large corporate but excluding banks and financial institutions. Minimum Quarterly Average Rs 75000/Balance (QAB) Rs 600/- per quarter + Service tax for Minimum Balance Charges not maintaining quarterly average balance (Irrespective of Area) Premature Closure Charges (If Rs 600/- + Service tax account is closed within a year)
Baroda Premium Current Account (BPCA) Sl.No 1 2 3 4 5 6 Features Minimum (QAB) Quarterly Average Benefit to customers Balance Rs 75,000/Free two times in a month Free Free Nil Free (Unlimited)
Statement of Account Balance Certificate Signature Verification Folio Charges Issuance of Cheque Books
7 8 9 10
Demand Draft facility Bankers cheque facility MT/TT facility Immediate credit of out station cheques
50% discount 50% discount 50% discount Maximum outstanding not to exceed Rs 50,000/-at any time
11 12
Transfer of Funds at O/S CBS Branches Free of charge(Inter Sol (outside clearing Area) charges) a)Collection of cheques through outstation a) Free of charges Non-base branches drawn on other Banks within clearing area of that centre b)collection of outstation cheques by sending b) 50%of Normal cheques physically through post collection charges Auto sweep / Reverse sweep (available in For the balance in excess multiple of Rs 25,000) of minimum balance of Rs 75,000/-, period of deposit from 15-45 days. Net Banking Auto Pay Roll Free Free
13
14 15 16
Credit Card with free personal accident First year free of charge, insurance coverage limited to two partners, two directors, up to two persons of other bodies authorized to operate the account Waiver of processing charges on car loans Waiver in case Car Loans are in the name of Proprietor, Firm and Company to 20% on locker Rent if locker rent is paid in advance for three years and above in lump sum.
17
18
Rebate/ Discount on Locker proprietor/ partners/ directors.
rent
19. Cash deposit a. At Base and local Non Base Branch b. Outstation Non Base Branch a. No cash handling charges for cash deposit up to Rs.50,000 per day
per account b. No Inter Sol charges for cash deposit up to Rs 50,000/- per day per account thereafter in excess of Rs 50,000/-, service charge is @ Rs2/per thousand or part thereof
20. Cash withdrawal a. Local base branch a. Free of charge in respect of any amount /any number of cash withdrawal per day per account First two cash withdrawals of any amount per account per calendar month is free of charges thereafter each cash withdrawal per day per account in excess of Rs25000/- service charge is applicable. Note: 1. No cash payments to third parties 2. Per transaction limit of Rs.50,000/- to customers through self cheques.
b. Local Non-Base / Outstation Non- base branch
Baroda Premium Current Account-Privilege (BPCAP)
Minimum Quarterly Average Rs 250000/Balance (QAB) Rs 1000/- per quarter + Service tax Minimum Balance Charges for not maintaining quarterly average balance (Irrespective of Area) Premature Closure Charges (If Rs 1000/- + Service tax account is closed within a year)
Baroda Premium Current Account Privilege (BPCAP)
Sl.No Features 1 Minimum Quarterly Average Balance(QAB) 2 Statement of Account 3 Balance Certificate 4 Signature Verification 5 Folio Charges 6 Issuance of Cheque Books 7 Demand Draft facility 8 Bankers cheque facility 9 MT/TT facility 10 Immediate credit of out station cheques 11 Transfer of Funds at CBS Branches (outside clearing Area) 12 a.) Collection of cheques through outstation Non-base branch drawn on other Banks with in the clearing area of that centre b)Collectionof outstation cheques by sending the cheques physically through post 13 Auto sweep / Reverse sweep available in multiple of Rs25000
Benefit to customers Rs 250,000/Free two times in a month Free Free Nil Free (Unlimited) Free of charge Free of charge Free of charge Maximum outstanding not to exceed Rs 150,000/-at any time Free of charge
a)
Free
of
charges
b) Free of charges
For the balance in excess of minimum balance of Rs 250, 000/ - Period of deposit from 15-45 days.
14 15 16
Net Banking Auto Pay Roll Credit Card with free personal accident insurance coverage Waiver of processing charges on car loans Rebate/ Discount on Locker rent to proprietor/ partners/ directors Cash deposits
17 18
19
At Base and local Non Base Branch Outstation Non Base Branch
Free Free First year free of charge, limited to two partners, two directors, up to two persons of other bodies authorized to operate the account Waiver in case Car Loans are in the name of Proprietor, Firm and Company 20% on locker Rent if locker rent is paid in advance for three years and above in lump sum. a. No cash handling charges for cash deposit up to Rs 50,000 per day per account b. No Inter Sol charges for cash deposit up to Rs.1,00,000 per day per account, thereafter in excess of Rs1,00,000/-, service charges is @ Rs2/- per thousand or part there of
20. Cash withdrawal a. Local base branch
a. Free of charge in respect of any amount /any number of cash withdrawal per day per account
b. Local Non Base Branch/ Out First three cash withdrawals of any station Non base Branches amount per account per calendar month is free of charges thereafter each cash withdrawal per day per account in excess of Rs 25,000/- service charge is applicable 1. No cash payments to third parties 2. Per transaction limit of Rs.50,000/- to customers through self cheques
2.4 Baroda Savings Account

Depending on the nature of the account and the governing terms and conditions, Bank of Baroda offers you under Savings Accounts.

Baroda Centenary Savings Account Savings Bank Account Super Savings Account Nagrik Bachat Khata Baroda Salary Advantage Saving Account Baroda Bachat Mitra Baroda Pensioners Savings Bank Account Baroda Jeevan Suraksha Savings Bank Account
Baroda Centenary Savings Account

Baroda Centenary Savings Account a Superior Savings Bank a/c with added value propositions. This product is available at all CBS branches in India. Key Benefits
Auto sweep: Auto transfer of funds exceeding certain fixed amount to Term Deposit to provide high yield on such funds. Auto reverse sweep in case of need to honour Cheque to Savings account from Term Deposit. Free collection of outstation cheques drawn in favour of account holder (postage out of pocket expenses are recoverable). IMMEDIATE CREDIT of outstation cheques upto Rs.25,000/-, as per norms. FREE DEBIT CARD. Interest is paid on Quarterly basis.
Savings Bank Account

Key Benefits

Simplest deposit option available to the depositor. Easy to operate. Terms and conditions kept lucid to facilitate a layman's understanding. No hidden costs. Zero balance facility Your Savings Bank Account with us remain alive even when the balance reaches zero. This facility is only for salaried employees in Central/ State Govt. Public & Private Limited Companies, Agents of Life & General Insurance Corporations and Students. Even for those receiving compensation from govt. for acquisition of their properties. Your deposits are insured by DICGC Option for money withdrawal by withdrawal forms or by cheque. An ideal option to cultivate the habit of banking and saving amongst the younger generation. Provision for nomination.
Terms & Conditions
Money can be deposited for any quantum of time; there are no minimum or maximum deposit periods for this offering.
Documents required:
o o o o
Passport size photograph Proof of residence An introduction as per Bank's norms IT Declaration (Form 60/61)
In case personal introduction is not possible, introduction by way of approved documents such as passport, driving license, pan card, election icard, defence i-card, etc.
Super Savings Account

The product is in the nature of superior Savings Bank Account with added value propositions to high value resident customers. The product is available at Metro and Urban centres
Key Benefits No charges for issuance of Demand Drafts (drawn on Indian branches) / Banker's Cheques to meet personal needs of the customers. Free collection of outstation cheques drawn in favour of a/c holder. Auto / Reverse Sweep: Auto transfer of funds exceeding Rs. 20000/- to short deposit with a minimum of Rs. 10000/- for 181 days and auto retransfer to the account from short deposit, in case funds are required in the Super Savings Bank account in multiple of Rs. 1000/- to bring you higher interest with high liquidity
Nagrik Bachat Khata

No frills. No hidden charges. Just banking. Bank of Baroda launches a new small savings product Nagrik Bachat Khata The Indian economy has undergone a significant transformation since the economic reforms in 1991 with the banking sector in the forefront. Nagrik Bachat Khata is a product through which Bank of Baroda intends to extend its services to a vast section of population by making banking easy and convenient. Key Benefits

Services designed to cater to a vast majority of Indian population Banking simplified Open account with an initial amount of just Rs. 50/Zero service charges for non-maintenance of a minimum balance of Rs. 50/-
Terms & Conditions
Who can open the account: All resident individuals who are eligible to open Savings Bank Account avail of this offering in single or joint names. This product is not for Non Resident Indians, Trusts, Societies, etc.
Minimum amount:
Rs. 50/- at all centers (Metro/Urban/Semi Urban/Rural). No service charges for

non-maintenance of minimum balance
Maximum amount:
There is no ceiling on the amount deposited/held in the account. However, in case of minors (between 10 and 14 years), maximum amount can not exceed Rs. 1 lakh
Account can be operated by the customers using withdrawal slip along with pass book only. A cheque book of -10- leaves will be issued on request for one year free of cost.
Number of withdrawals not to exceed thrice in a month.
Baroda Salary Advantage Saving Account
Bank of Baroda now has a special salary account with added benefits. It's a saving bank account with an in built feature of overdraft facility to the salaried persons. Key Benefits
Overdraft facility available up to Rs 1 lac. Earn interest on credit balance account as per saving bank a/c rules. Free Chequebooks for routine requirement. No minimum balance requirement in the account. No ceiling on the amount to be deposited and credit balance in the a/c.
Terms & Conditions
This account can be availed by regular employees of state/central government, PSUs, semi govt. organizations, state/central govt. corporations, urban development authorities, educational institutions, universities, MNCs, reputed public ltd companies & selected private ltd companies with minimum one year service with the organization. Age: Minimum - 21 years. Minimum take home salary - Rs5000/-
The maximum overdraft limit - Rs. 1 lac subjected to 90% of net salary (average of last three months). Third party guarantee.
Baroda Bachat Mitra

Key Benefits
Product Nature : Overdraft facility in Savings Account secured by Pledge of Term Deposit Eligibility Criteria : Individuals eligible to open Savings Account singly / jointly and having attained the age of 18 years Minimum Amount : Savings Account: There shall be no minimum balance requirement for Savings Account, as such no service charges shall be levied towards maintenance of minimum balance. Fixed Deposit: Minimum amount of deposit accepted for the facility would be Rs10000/- and thereafter in multiples of Rs1000/- with a minimum period of 12 months and maximum period of 120 months. Maximum Amount : There shall be no ceiling on the maximum amount to be deposited as Fixed deposit and credit balance in Savings Account. Overdraft Limit : To the extent of 80% of Fixed Deposit with a minimum limit of Rs8000/- and maximum of Rs100000/Third party FDRs are not eligible under this scheme. FDRs issued by any other branch /bank can not be pledged and accepted as security, as per extant guidelines of the bank. Interest Rate : Fixed deposit: As per contractual rate, at the time of accepting deposit. Savings A/c: As per existing rules for credit balance in SB A/cs and for debit balance in Savings A/c 1.5% over Fixed Deposit rate with monthly rests and a minimum of Rs25/- will be charged during a month if overdraft facility is availed. Processing & Documentation Charge : ---Nil--Security for Overdraft facility : Pledge of FDR duly discharged by the depositor. Letter of pledge of FDR ( LDOC -16 A)
2.5 THIRD PARTY PRODUCT :

LIFE INSURANCE: - INDIAFIRST LIFE INSURANCE GENERAL INSURANCE: - BARODA HEALTH & NICL
JOINT VENTURE OF:
&
&
Vision: Become a life insurance and pensions business leader in providing significant value for all stakeholders through true customer delight
Bank of Baroda: is the 3rd largest public sector bank in the country with an enviable network of over 3000 branches that spreads across the geography of India and over 70 branches across 22 countries globally! This behemoth financial institution is over 100 years old and has been built on financial prudence, corporate governance and most importantly the trust of valuable customers like you. Andhra Bank has been serving the Indian customer for over 85 years and currently has a network of over 1500 branches. The bank has developed best in class deposit and lending schemes for its valued customers. Both the banks are nationalized and provide best in class products and services to every Indian citizen. Legal & General is one of UKs leading financial institutions with a heritage of over 150 years. It provides life assurance, pensions, investments and general insurance plans to over 5 crore customers across countries. Legal and General brings rich fund management and insurance experience into India and aspires to provide first-rate products and services
to the doorstep of every Indian customer in conjunction with the 2 trusted public sector banks.India First Life Insurance Co. Ltd. is a 3 way joint venture of Bank of Baroda, Andhra Bank and Legal & General (UK), in which Bank of Baroda holds major share of 44% and remaining 30% & 26% are shared between Andhra Bank and Legal & General (UK) respectively. Bank of Baroda entered into a Strategic Marketing tie-up with the company for distribution of its life insurance products across the Banks branches on 12th November, 2009 at Mumbai. Banking Channel is one of the best platforms for reaching out to the masses more particularly in rural and semi-urban area where the vast potential lies for insurance business. Banks foray into life insurance business through this joint venture route will help its customers to have convenience of all at one place at the branches of the Bank in catering to their insurance needs. The Company since plans to initially focus on bancassurance model, it will be largely benefited by the Banks large presence throughout the country in augmenting its business. With this tie-up, the Banks customers will get easy access to the insurance schemes of India First Life Insurance Co. Ltd. This joint venture brings together a real understanding of the Indian consumers by the promoter banks with international best practices developed by Legal & General. We aim to provide world class products and services that are customized to meet the requirements of the Indian consumer. The three promoters put together have over 360 combined years of service to customers across the world an envious achievement. The company plans to initially focus on the bancassurance model. It plans to leverage the existing customer base of over 50 million customers of the promoter banks spread across 4,500 branches in the country. Each bank has its own segmentation and profile of customers. Both have a huge semi urban and rural network. The challenge for the company is to optimally exploit the entire potential provided by both Bank of Baroda and Andhra Bank. The new corporate identity represents the company's personality. IndiaFirst aims to be modern in its outlook, creative in its approach, energetic in its attitude, focus on principles, cheerful and vibrant yet simple and clear in its communication. It aims to always place the Indian consumer First in everything it does. Our philosophy of putting the customer First together with our cost effective distribution model, will enable us to make a real long-term contribution to the Indian economy by broadening the choices available to our customers as they harvest the fruits of their economic success and invest them for a stable long term future for themselves and their families. They are a testimony to the commitment of our promoters of always putting our customers First in everything we do. We represent India's new found confidence, its resolve, grit and spirit. The wave in the logo represents the colors of the three promoters Bank of Baroda, Andhra Bank and Legal & General. Dr. Nandagopal added, IndiaFirst is an open, modern and hardworking organization. We believe in doing things right for the customer, the distributors and our shareholders. We as a company are committed to providing value for money products and
Service excellence to our customers. IndiaFirst Life Insurance has, so far, collected Rs 200 crore as premium in four months of operations and is all set to release more products in the current financial year, according to Dr P. Nandgagopal, Managing Director and CEO.At a press meet here on Thursday, he said the company a joint venture between the Andhra Bank, the Bank of Baroda and Legal & General had made rapid strides, with only three products. The company is offering IndiaFirst Education Plan, IndiaFirst Savings Plan and IndiaFirst Future Plan. We will release two more products on April 21 - Creditlife and Groupterm. In the current financial year, we are planning six to eight new products, he said.He said the company currently was selling its products through3,000 branches of Andhra Bank and Bank of Baroda.Both the banks put together have 4,500 branches and we will in a few more months' time extend our services to all the branches, he added.In future, the products may be sold through the regional rural banks of bothAndhra Bank as well as Bank of Baroda, he said.Dr Nandagopal said the company was also planning to have of its own and in Andhra Pradesh initially three branches would be set up one each in Hyderabad, Vijayawada and Visakhapatnam. During the current financial year, 50 such independent branches may be set up in the country.He said, Our aim is to offer simple products suited to the needs of our customers, fairly priced and truthfully delivered. We insist on showing the audio-visuals to our customer and explain all the features of the products to them.
SALIENT FEATURES AND BENEFITS: You can build your savings corpus systematically, through investments in various funds. You secure the future of your family, as they get an assured lump sum benefit immediately, in case of your untimely death. You have the option to invest in debt, equity or a balanced fund, where you choose the proportion of your investment into each! You can make the most of your investments by switching from one fund to another. You have the option to build up your corpus through additional deposits. You get easy access to your money by being able to withdraw partially. Under Section 80C you can enjoy Tax Benefits on the premium you invest. You also get tax benefits on the benefits you receive at maturity of your payment.
PRODUCT OF INDIAFIRST INSURANCE:
Your child, your pride Our responsibility"
We understand that, as a parent, you want to give nothing but the best to your child. Be it your childs education or any dream. You will not allow anything to come in the way of your childs success. To help you give your child everything that you have dreamt of, we have introduced the IndiaFirst Education Plan. BENEFITS AND FEATURES: Your child will always receive funds at every momentous occasion in his/her life. Be it High School / College/ Professional course or any other life event! Your child gets financial security even if any untoward incident results in your death / disability. We will do this by paying the remaining premiums into your policy. Your child, who we may also refer as the Beneficiary , receives the Fund Value at Maturityeven if the Sum Assured has been paid out on the unfortunate incident of your demise. You have the option to invest in debt, equity or a balanced fund, where you choose the proportion of your investment into each! You can make the most of your investments by switching from one fund to another. You have the option to build up your corpus through additional deposits. You get easy access to your money by being able to withdraw partially. Under Section 80C and 10(10D) you can enjoy Tax Benefits on the premium you invest
You evolve, you mature... And we help you prosper"
The best years of Life ought to be your retirement years. You have worked hard all your life, and you deserve the best things in life in these golden years. We identify with you. We are therefore presenting the perfect plan that will empower you for this golden period. The IndiaFirst Future plan helps you set-aside money in your prime years when are generating income and enjoy a healthy lump sum or a steady income in your retirement years.
BENEFITS AND FEATURES

You can choose the age at which you want to retire You have the option to invest in Debt, Equity or a Balanced fund, where you choose the proportion of your investment into each! You can make the most of your investments by switching from one fund to another. You have the option to build up your retirement corpus through additional deposits. You get easy access to your money by being able to withdraw partially. You can enjoy tax free returns up to 1/3rd of the fund value as at your chosen date of retirement (called Vesting Age).
You dream, you aspire. And we help you achieve!
Each of us aspires to own a house, dreams of exotic overseas vacations, wishes to fund our children in all their lifes events, hopes to have sufficient retirement funds The IndiaFirst Savings Plan helps you grow and develop a body of wealth through market linked investments. We help you save systematically and provide you avenues to invest your savings in funds, on the basis of your risk appetite. BENEFITS AND FEATURES:
Your child will always receive funds at every momentous occasion in his/her life. Be it High School / College/ Professional course or any other life event! Your child gets financial security even if any untoward incident results in your death / disability. We will do this by paying the remaining premiums into your policy. Your child, who we may also refer as the Beneficiary , receives the Fund Value at Maturityeven if the Sum Assured has been paid out on the unfortunate incident of your demise. You have the option to invest in debt, equity or a balanced fund, where you choose the proportion of your investment into each! You can make the most of your investments by switching from one fund to another.
Your protection, our security BENEFITS AND FEATURES: Enjoy the benefits of a life cover for a period of upto 30 years at an extremely reasonable price
The life assured's family is secured, as they get an assured lump sum benefit immediately, in case the life assured's untimely death Under Section 80C you can enjoy tax benefits on the premium you invest Under Section 10 (10D) your family also gets tax break on the benefits they receive from your plan
Risk factors

There
is
no
maturity
or
survival
benefit
payable
under
this
plan
This is a non participating pure term assurance
Your people, your trust our accountability
Benefits And Features: You can now provide life cover at reasonable rates to your members be it your employees or your customers. You have the flexibility to automatically cover the life of all your members or offer it as a voluntary scheme where your members may choose to participate. You have the flexibility to choose between three premium paying frequencies. The plan provides you the flexibility of adding new members during the plan year. You can also opt for the Employees Deposit Linked Insurance (EDLI) scheme under this plan. The plan is renewed yearly.
Risk factors: The sum assured is paid to the nominee through you, the master policyholder You may deduct any amount due before paying the proceeds to the nominee. However, this is not applicable under EDLI Minimum group size is 50. Tax laws are subject to change from time to time. Please speak to your tax consultant before deciding to invest in any financial planning tool. Please read the entire brochure to understand how this plan can work for you.
You build your dreams, we help protect them
BENEFITS AND FEATURES:
You can enhance your product offering by combining insurance with your credit or loan products You can protect your assets against uncertainty. We help you do this by paying the outstanding loan amount in the unfortunate event of the members demise
You have the flexibility to choose the coverage and the mode of payment you want to offer your members.
India First Annuity Plan: This is a traditional Immediate Annuity plan, which can be purchased by paying a lump sum amount. You get the choice to select your retirement age, and we pay you a fixed annuity on a monthly basis for life. Key Features You can choose your retirement age as per your need; You can reap the returns starting anytime between 40 and 80 years. You can receive a definite regular monthly income through your years of retirement. 2. WHAT IS THE ELIGIBILITY FOR ENTERING THE PLAN? The eligibility criterion is as under: Minimum age at entry 40 years (attained) Maximum age at entry 80 years (attained) 3.WHAT IS THE MODE FOR PAYMENT OF PREMIUMS? This is like a single premium policy. You make a single lump sum payment to enter the plan. This payment is called the purchase price paid through cheque, DD or ECS. 4.WHAT IS THE TERM FOR ANNUITY PAYOUTS? The term for annuity payouts is as follows: Term for Annuity payouts Single Life Annuity i.e. we will pay you the annuity till as long as you live. GENERAL INSURANCE WE HAVE TIE UP WITH NATIONAL INSURANCE COMPANY LIMITED WHICH PROVIDE BARODA HEALTH POLICY : Company profile:
National Insurance Company Limited was incorporated in 1906 with its Registered
office in Kolkata. Consequent to passing of the General Insurance Business Nationalisation Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India. After the notification of the General Insurance Business (Nationalisation) Amendment Act, on 7thAugust 2002, National has been de-linked from its holding company GIC and presently operating as a Government of India undertaking. National Insurance Company Ltd (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business. Headquartered in Kolkata, NIC's network of about 1000 offices, manned by more than 16,000 skilled personnel, is spread over the length and breadth of the country covering remote rural areas, townships and metropolitan cities. NIC's foreign operations are carried out from its branch offices in Nepal. Befittingly, the product ranges, of more than 200 policies offered by NIC cater to the diverse insurance requirements of its 14 million policyholders. Innovative and customized policies ensure that even specialized insurance requirements are fully taken care of. National Insurance Co Ltd awarded "Most Preferred Non Life Insurer" by CNBC AWAAZ Consumer Awards 2009
WE ARE: The fastest growing Non-life Insurance Company in India The second largest Non-life Insurance Company in India Internationally recognized as one of the top 5 General Insurance Companies in the Asia Pacific.
CUSTOMER SERVICE INITIATIVES Establishing Connectivity among 1000 offices with in the country Facility to get Policy through NET Tie-ups with leading Banks, Corporate Sectors, State Government Conciliatory Fora for facilitating quick settlement of Motor Third Party claims, Compromise settlement, Lok Adalat and Jald Rahat Yojana.Zonal Advisory Committees set up to maintain progress.
PRODUCT DEVELOPMENT More than 200 products available to cater to the needs of various sectors of the economy. Continuous product development to meet emerging needs of society and industry. R&D cell set up at Head Office for distinctive product innovation relevant to indigenous conditions and rural masses.
The paid-up share capital of National is Rs.100 crores. Starting off with a premium base of 500 million rupees (50 crores rupees) in 1974, NIC's gross direct premium income has steadily grown to 42799 million rupees (4279.9 crores rupees) in the financial year 20082009. National transacts general insurance business of Fire, Marine and Miscellaneous insurance. The Company offers protection against a wide range of risks to its customers. The Company is privileged to cater its services to almost every sector or industry in the Indian Economy viz. Banking, Telecom, Aviation, Shipping, Information Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare, Tea, Automobile, Education, Environment, Space Research etc. National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India. The steady growth in premium income has been commensurately matched by profits over the years. As of March 2009, NIC's general reserve stood at 13080.5 million rupees (1308.05 crores rupees) with a net worth of 5015.97 million rupees (501.59 crores rupees) signaling strong financial fundamentals. No wonder than that NIC has been accorded AAA/STABLE financial strength rating by CRISIL rating agency, which reflects the highest financial strength to meet policyholders obligations. Banking, Telecom, Aviation, Shipping, Information Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare, Tea, Automobile, Education, Environment, Space Research etc. National Insurance is the second largest non life insurer in India having a large market presence in Northern and Eastern India. The steady growth in premium income has been commensurately matched by profits over the years. As of March 2009, NIC's general reserve stood at 13080.5 million rupees (1308.05 crores rupees) with a net worth of 5015.97 million rupees (501.59 crores rupees) signaling strong financial fundamentals. No wonder than that NIC has been
accorded AAA/STABLE financial strength rating by CRISIL rating agency, which reflects the highest financial strength to meet policyholders obligations.
Policies:
Motor Policy : Two Wheeler
Policy indemnifies bona fide owner of Two wheeler, used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of, electrical accessories and also includes cover against liability towards third party personal injury and property damage1.
BARODA HEALTH:
Baroda Health policy is a unique Health cum Accident Policy designed especially for the a/c holders of Bank of Baroda. The entire family consisting of the a/c holder, spouse and 2 dependent children can be covered under this policy. This policy covers Hospitalization expenses for a/c. holder and family. In case of Hospitalization Expenses, the entire family is covered for the Floater Sum Insured as opted for, i.e., either one or all members of the family can utilize the Sum Insured during the policy period. "Baroda Health" (Mediclaim Insurance Policy) for Banks Account holders. With a view to offer value added services to our customers, we have developed a cobranded insurance product called as "Baroda Health" (Mediclaim Insurance Policy) for Bank's Account holders w.e.f. 23rd February 2006 available at all our branches across the country.
What is Baroda Health Policy? 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, in respect of the following eventualities. Any illness / disease Accidental injury and/ or any ailment. Any surgery that is required in respect of any disease or accident that has arisen during the policy period
The minimum hospitalization should be for 24 hours
Key Benefits : Very low premium In this co-branded product, 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 Rules.
Salient features: No medical examination required for commencement of health cover. Pre-existing diseases also get coverage after 3 continuous claim-free policy years. Coverage options available: 8 slabs ranging from Rs. 50,000/- to Rs. 5,00,000/- per family of 1+3. Upper age limit of primary member (first named person) is allowed upto 80 years, if a person obtains the insurance cover before completion of 65 years and continue to renew the policy upto the age he wishes to or 80 years, whichever is earlier. The scheme is administered through Third Party Administrators (TPAs) for settlement of Hospitalization Claims under the insurance cover. The insured individuals get cashless hospitalization facility also in the selected hospitals through TPAs. The whole process is hassle-free and treatment upto the limit of insurance is available without any payment at the time of admission or discharge. Payment of hospital bill up to the sum insured will be taken care of by the TPA directly.
2.6 Economic Review

The year 2010-11 brought out a definite improvement in global confidence and stability, though the economic recovery remained uneven between advanced countries and emerging markets. The Indian economy continued to outperform most emerging markets during 2010-11 retaining its position as the second fastest growing economy, after China, amongst the G-20 countries. During 2010-11, Indias economic growth reverted to the high growth trajectory (estimated at 8.5% by the Central Statistical Organization, Government of India) on the
back of a rebound in agriculture and sustained levels of activity in industry and services. Aggregate demand momentum remained healthy as reflected in indicators like strong corporate sales growth, improving capacity utilization and higher employment generation. Sustained improvement in exports during the year, facilitated moderation of the current account deficit. However, headline inflation exhibited strong persistence in 2010-11 and throughout this year stayed above the Reserve Bank of Indias (RBI) indicated projections. The inflationary process reflected both supply shocks and gradual generalization of price pressures. The monthly inflation for March, 2011 was as high as 9.02% (y-o-y). In response to the elevated level of inflation, the RBI continually tightened its Monetary Policy throughout the year. Liquidity conditions stayed tight for most part of the year with some easing during the last quarter. Both deposit and lending rates firmed up in response to the Monetary Policy signals. On the back of strong capex and working capital demand, the banks non-food credit expanded by 21.2% (y-o-y), while aggregate deposits grew by 15.8% (y-o-y) during 2010-11. The sectoral deployment of banks non-food credit continued to remain broad-based. The strong growth environment and the improved corporate credit profile eased the asset quality concerns especially for the banks that had maintained well diversified loan-books and modest exposures to sensitive sectors.
Bank Of Baroda : A Stable And Resilient Bank

Cashing in on its strong capital and liquidity position, robust liability franchise and improved credit culture, the Bank has managed to gain market share consistently during the past three years amidst maintaining high profitability and asset quality standards. The Banks Return on Average Assets at 1.33% for 2010-11 is one of the highest amongst its peer banks and supportive of its relatively superior Return on Equity (at 21.48%). Even as it has grown its balance sheet at faster pace than the industry average, it has sustained the best asset quality standards. Over the period 2007-08 to 2010-11, the Banks delinquency ratio of 1.0% to 1.2% is one of the lowest that also reflects its low stressed asset portfolio. The Banks consistently high Provision Coverage Ratio around 85.0% (including the technical write-offs) excellently cushions its earnings against any downside economic risks in future.
New Initiatives
During the year under review, the Bank took forward its end-to-end Business and IT Strategy Project covering in entirety its domestic, overseas and subsidiary operations. Not just all the branches and extension counters in India were brought on the Core Banking Solution (CBS) platform, the CBS was also implemented in its five Regional Rural Banks (RRBs) covering 1,218 branches and three extension counters. The Bank built the best technology infrastructure by implementing a State-of-the-Art Data Centre conforming to Uptime Institute Tier-3 Standards and also a Disaster Recovery Site in different seismic zones with the redundancy built in every single point of failure to ensure uninterrupted
service delivery to customers. The Bank provided to its customers Internet Banking, viz., Baroda Connect and other facilities such as the online payment of direct and indirect taxes and certain State Government taxes, utility bills, rail tickets, online shopping, donation to temples and institutional fee payment. The Bank took many initiatives during the year to provide its corporate customers the facility of direct salary uploads, trade finance and State tax payments. The Bank also implemented the Fraud Management Solution for two factor authentication for e-banking transactions in India. The SMS Alerts Delivery Gateway was upgraded for delivering Internet Banking alerts in India, UAE, Botswana, Uganda, New Zealand, Kenya, Mauritius and Seychelles. By 31st March 2011, the Banks ATM network expanded to 1,561. As a customer centric initiative, the Bank implemented multiple accounts being linked to a single Debit Card (verified by VISA, CVV2) and enabled eTax Payments through the ATMs. Furthermore, the Bank launched mobile ATMs in Ahmedabad, Pune, Lucknow and New Delhi. Additionally, the Bank introduced Mobile Banking (Baroda M-connect) providing its customers various banking facilities through mobile connection. Besides these, the Bank took several other IT related initiatives such as Retail Depository Services, Online Trading System, Cash Management System, SWIFT facility, Payment Messaging Solution (PMS), New Credit Card Management System and Integrated Global Treasury Solution in various territories of its operations like UK, UAE, Bahamas, Bahrain, Hong Kong, Singapore, Belgium and also in India, reducing the overall cost of operations and better funds management. From the Retail side, the Bank launched two new retail asset products styled as Baroda Traders Loan Against the Security of Gold Ornaments /Jewellaries and Baroda Advance Against Gold Ornaments /Jewellaries in all its Metro and Urban branches in India. Besides, in line with the Governments directive, the Bank started an Education Loan Interest Subsidy scheme for students belonging to economically weaker sections. From the Liability side, a term deposit product designed as Baroda Utsav Deposit Scheme for 444 days was introduced in the month of October to mobilise deposits in a
sustainable fashion. The Bank also launched two new retail liability products under Savings Bank Segment styled as Baroda Pensioners Savings Account specially meant for pensioners and a life insurance linked Savings product styled as Baroda Jeevan Suraksha Savings Account under the Tie-up arrangement with IndiaFirst Life Insurance Company. As a responsible corporate citizen, it has been the vision of the Bank to empower the community through socioeconomic development of underprivileged and weaker sections. In its continued efforts to make a difference to the society at large, the Bank took a few more concrete steps during 2010-11. The Bank formulated a three-year Financial
Inclusion Plan as per the RBI guidelines issued in 2010. Keeping in view the mandate given by the Government of India, the State Level Bankers Committee allotted to the Bank 2,864 villages, having population of more than 2,000 that were to be covered under the banking net by March 2012. Out of these, 1,200 villages were targeted to be covered under Financial Inclusion by March 2011. The Bank comfortably surpassed this target and extended banking services to 1,228 villages in the year 2010-11. To reach out to the villages, the Bank adopted two delivery channels, i.e. ICT based Business Correspondent (BC) Model and the Mobile Banking Model. The Bank designed various strategies during the year 2010- 11 to harness emerging opportunities for Rural and Agriculture lending. To help rural community with the provision of credit counseling, financial literacy and other services like information on the prices of agricultural products, scientific farming, etc., the Bank established 52 Baroda Grameen Paramarsh Kendras as on 31st March, 2011. Eleven more Baroda Swarojgar Vikas Sansthans (BSVSs) were opened during 2010-11. With this, the total number of BSVSs went up to 36. The BSVSs are primarily the outfits for training the youth and imparting knowledge and skills required for taking up self-employment ventures. During the year under review, 42,212 youth beneficiaries were trained, out of which 28,331 have already established their self-employment ventures. So far, the Bank trained 79,442 beneficiaries through these centers, out of which 50,035 have established their self employment ventures. The Bank also opened 14 new Financial Literacy & Credit Conselling Centres (FLCCs) during 2010-11, taking the total number of FLCCs to 18 by end-March 2011. In the area of Wealth Management, the Bank has formed two joint ventures (JV) with the leading international brands in the Mutual Fund and Life Insurance segments during the last couple of years. These two organisations -- Baroda Pioneer Asset Management Co. Ltd., a joint venture in Mutual Fund in association with Pioneer Investments of Italy, and IndiaFirst Life Insurance Co., a joint venture in Life Insurance with Andhra Bank and L&G of U.K. have successfully positioned themselves in the Indian market with encouraging performance
even in the initial stages of their business. Additionally, the Bank extended Application Supported by Blocked Amount (ASBA) facility, the supplementary process of applying to IPO/FPO/Right issues to 2,100 more branches during the year. The Bank also introduced during the year, on-line ASBA Facility for its net banking customers. The facility provided the convenience of a simple, instant, secure and 24x7 facility to apply for IPO/FPO/NFO to the Banks customers from the comfort of their homes. The Bank also established the Baroda Gold Lounge facility in 13 strategically located
branches to provide investment advisory services to the HNI customers of the Bank.
Busines And Financial Achievements

Consistent with its past track record, the Bank delivered Superior Profitability and Best Asset Quality performance during the year 2010-11 by further gaining market share from both the assets and liabilities sides. The Banks Global Business touched the mark of Rs 5,34,116 crore in 2010-11 posting a growth of 28.3% (y-o-y). The Banks performance on the business front was much above the banking industrys average. In its Indian operations, the Banks Deposits and Advances increased healthily by 25.8% and 28.7%, respectively. Even in a rising fixed (or term) deposit interest scenario, the Banks Domestic Low-cost or CASA deposits richly grew by 21.4% (y-o-y) forming 34.4% share of the total Domestic Deposits. The Banks Priority Sector Credit too recorded a decent growth of 18.2% during 2010-11 and formed 43.57% of its Adjusted Net Bank Credit, easily surpassing the mandatory requirement of 40.00%. Sectorally speaking, the Bank posted a growth of 29.6% in its SME credit, 13.5% in Farm credit, [28.7% in Direct Agriculture credit] and 33.8% in Retail credit reflecting a well-balanced growth across different sectors. During the year under review, the Total Business of the Banks Overseas branches registered a robust growth of 32.5% on the back of surging world trade volumes and a rebound in the activities of Indian corporates abroad. In Overseas operations, the Banks Customer Deposits increased by 23.4%, Total Deposits by 29.3% and Advances by 36.6%. Supported by steady and better than industry average spreads and a good pool of fee-based income, the Banks Gross Profit in Overseas operations posted a healthy growth of 23.9%. The Banks Overseas Business contributed 24.6% to the Banks Global Business, 17.1% to its Gross Profits and 32.1% to its Core Fee-based Income. Besides, the Total Assets of the Banks International Operations increased from Rs 68,375 crore to Rs 91,273 crore registering a growth of 33.5% during the year 2010-11. For the Bank as a whole, Gross Profits grew impressively by 43.8% to Rs 6,981.61 crore and Net Profit by 38.7% to Rs 4,241.68 crore - much ahead of the market expectations. Despite increased provisions, especially on account of the pension liabilities of the
employees, a strong growth in Net Interest Income (at 48.2%), a good traction of Core Feebased income and a modest growth in Operating Expenses enabled the Bank to achieve such record levels of incomes and profits during the year 2010-11. Even as the Bank gained market share in loans, it has sustained the best asset quality standards within the Indian banking universe. In line with its past record, the Bank succeeded in restricting its Incremental Delinquency Ratio to 1.09%, Gross NPAs to 1.36% and Net NPAs to 0.35% during 2010-11. The Banks Loan Loss Coverage Ratio (including technical write-offs) too stood at the healthy level of 85.0% as on 31st March 2011. As regards the shareholders return ratios, within just a year, the Banks Return on
Average Assets (ROAA) improved to 1.33% from 1.21%, Earnings per Share (EPS) to Rs 116.37 from Rs 83.96 and the Book Value per Share (BVPS) to Rs 504.43 from Rs 378.40 on the back of significantly improved core performance. Furthermore, the Banks Cost-Income ratio sharply declined from the previous years level of 43.57% to 39.87%, reflecting the Banks improved earnings profile and prudent control over operating expenses. During the year 2010-11, the Bank received Rs 2,461 crore from the Government of India in support of its healthy asset expansion. With this, the Governments shareholding in the Bank increased from 53.81% to 57.03%, improving the Banks Capital Adequacy Ratio (Basel II) to 14.52% and the Tier 1 capital ratio to 9.99%.
Performance Highlights
Total Business (Deposit+Advances) increased to Rs. 4,16,080 crore reflecting agrowth of 24.0%. Gross Profit and Net Profit were Rs. 4,935 crore and Rs. 3,058 crore respectively.Net Profit registered a growth of 37.3% over previous year. Credit-Deposit Ratio stood at 84.55% as against 81.94% last year. Retail Credit posted a growth of 23.5% constituting 18.15% of the Bank's GrossDomestic Credit in FY10. Net Interest Margin (NIM) in global operations as per cent of interest earningassets was at the level of 2.74% and in domestic operations at 3.12%. Net NPAs to Net Advances stood at 0.34% this year against 0.31% last year. Capital Adequacy Ratio (CAR) as per Basel I stood at 12.84% and as per Basel IIat 14.36%. Net Worth improved to Rs. 13,785.14 crore registering a rise of 20.6%.
Book Value improved from Rs. 313.82 to Rs. 378.44 on year.
Business per Employee moved up from Rs. 911 lakh to Rs. 1,068 lakh on year. Segment-Wise Performance The Segment Results for the year 2009-10 (FY10) reveal that the contribution ofTreasury Operations was Rs. 1,048 crore, that of Corporate/Wholesale Banking was Rs. 1,585crore, that of Retail Banking was Rs. 779 crore, and of Other Banking Operations was Rs. 2,732 crore. The Bank earned a Profit after Tax (PAT) of Rs.
3,058crore after deducting Rs. 1,906 crore of unallocated expenditure and Rs. 1,180 crore towardsprovision for tax.
Dividend
The Bank's Directors have proposed a dividend of Rs. 15/- per share (on the face valueof Rs. 10/-per share) for the year ended March 31st, 2010. The total outgo in the form ofdividend, including taxes, will be Rs. 639.26 crore.
Capital Adequacy Ratio (CAR)

The Bank's Capital Adequacy Ratio (CAR) is comfortable at 14.36% under Basel II as on31st March 2010. During the year, the Bank strengthened its capital-base by raising Rs1,000 crore through unsecured subordinated bonds and Rs. 900 crore through innovativeperpetual bonds. The Bank's Net Worth as at 31st March 2010 was Rs. 13,785.14 crore comprising paidupequity capital of Rs. 365.53 crore and reserves (excluding revaluation reserves) of Rs13,419.61 crore. An amount of Rs. 2,419.07 crore was transferred to reserves from theprofits earned.
Other Prudential Measures

As a prudent measure, the Bank has made provision towards contribution to gratuity (Rs131.93 crore), pension funds (Rs 120.21 crore), leave encashment (Rs 134.29 crore) andadditional retirement benefits (Rs 16.28 crore) on actuarial basis. Total provisions underthese four categories amounted to Rs. 402.71 crore during the year 2009-10, against Rs550.60 crore during 2008-09. Total corpus available with the Key Financial Ratios
2009-10 Particulars Return on Average Assets (ROAA) (%) Average Interest Bearing Liabilities (Rs crore) Average Cost of Funds (%) Average Interest Earning Assets (Rs crore) Average Yield (%) Net Interest Margin (%) Cost-Income Ratio (%) Book Value per Share (Rs) EPS (Rs)
2008-09 1.09 1,71,666.55 5.81 1,75,818.59 8.58 2.91 45.38 313.82 61.14
1.21 2,15,886.21 4.98 2,16,735.54 7.70 2.74 43.57 378.44 83.96
Bank at the end of March 2010 under these heads is: Rs. 948.54 crore (gratuity), Rs2,835.10 crore (pension funds), Rs. 488.31 crore (leave encashment), and Rs. 340.56 crore(additional retirement benefits).
Business Initiatives
A "Home Loan Campaign" was launched from 15.06.09 to 14.08.09 with special emphasis on take-over of Home Loan accounts. A 100.0% waiver of Documentation and Processing charges was offered for Home loans and Auto loans. The campaign period was extended up to 31.08.09. An additional business of Rs. 1,156 crore by way of fresh sanctions was generated during the campaign as against a target of Rs. 750 crore. Another Retail Loan Festival Campaign was launched on 01.09.09 to encash the business potential of the festive season during September and October 2009. A fresh business of Rs. 1,680 crore was mobilized during the campaign period as against the target of Rs. 2,000 crore set for the campaign. One more Retail Loan campaign, launched on15.01.10, generated additional business of Rs. 772 crore. For mobilizing low cost deposits, a Savings Bank Deposit Campaign was launched on 15.06.09. An amount of Rs. 2,437.35 crore as fresh Savings Bank Deposit was mobilized during the campaign as against the target of Rs. 2,000 crore. Another SB deposit campaign, launched in January 2010, yielded fresh SB deposits of Rs. 1,057.17 crore. For giving boost to the Auto Loan portfolio, MoUs were signed with M/s Honda Siel Cars India Ltd and M/s Toyota Kirloskar Motors Ltd on 11.06.09 and 16.09.09respectively, in addition to MoUs already signed last year with a number of leading car manufacturing companies viz. Maruti Suzuki India Ltd, Tata Motors Ltd, Hyundai Motors India Ltd and Mahindra & Mahindra Ltd.
Six new Retail Loan Factories (RLFs) have been opened during FY10 at Chandigarh, Gamdevi (MMSR), Patna, Coimbatore, Ranchi and Allahabad. The total number of operational RLFs is now 30. With a view to provide a high class banking experience to the young customers in general and IT/techno savvy youth in particular, our Bank has pioneered an outfit styledas Gen-next Branch. At present, the total number of Gen-next branches is seven. The Bank has already made Home Loan and Education Loan Application modules online. The Bank, now, proposes to bring Auto Loan Application module also online very shortly. With this, the applicants can have an online track to know the status of their loan applications. The Bank has made an arrangement with Kotak Life Insurance to provide life insurance
cover to the Bank's Home Loan borrowers against the entire loan outstanding balance and full tenure of the loan at the option of the borrower. This would be made available against the payment of a nominal premium amount paid by the Bank and recovered along with EMIs of the loan from the borrowers.
Wealth Management Services

During FY10, the Bank signed Corporate Agency Agreement with its joint venture company in life insurance, India First Life Insurance Co. Ltd., to market their life insurance products under Wealth Management Services. The life insurance company is a joint venture amongst Bank of Baroda (share 44.0%), Andhra Bank (share 30.0%) and Legal & General, U.K. (share 26.0%). As part of customer centric measures, the Bank has been providing Wealth Management Services to its High Net worth Individuals (HNI) and affluent customers as a total financial solution at one place since June 2004. At present, the Bank provides through the network of its branches various third party products in Life Insurance, Non Life Insurance including Health Insurance, Mutual Funds and Equity Trading under tie-up arrangements through different partners along with its own joint ventures in Life Insurance and Mutual Fund. In Mutual Fund segment, the Bank's joint venture Baroda Pioneer Asset Management Co. Ltd. is in association with Pioneer Investments of Italy. Moreover, the Bank extended the ASBA (application supported by Blocked Amount), the supplementary process of applying in IPO / FPO / Right issues to 60 more branches during the year to facilitate its customers. These 60 branches are located in centres, which have been traditionally inhabited by investors in the capital market. The Bank has also established 'Baroda Gold Lounge' in 13 select strategically located branches which are distinct dedicated spaces to provide par excellence investment
advisory services to HNI customers of the Bank. Various initiatives of the Bank under Wealth Management Services have been decently contributing to its "Non-Interest Income", which has emerged as the important earning stream in recent years. Bank of Baroda's Joint Venture in Life Insurance Business The Bank has diversified into life insurance business by forming a three-way Joint venture amongst Bank of Baroda, Andhra Bank and Legal & General Group Plc (UK). The initial authorized capital of the company is Rs. 200 crore, which is subscribed by the three partners in the ratio of 44.0%, 30.0% & 26.0%. The company has been named as "India First Life Insurance Company Ltd." The India First has received an overwhelming response from the Bank's esteemed customers across the country making the company the fastest ever Insurance Company to reach Rs. 100 crore premium collections in the first 100 days. The company also proposes to service the rural markets with customized
products and processes and make delivery more appropriate and cost efficient to match the practical realities of rural India. MSME Business The Micro, Small and Medium Enterprises (MSME) segment has been a vital component of Indian economy. This sector accounts for around 40.0% of total industrial production,34.0% of industrial exports, 95.0% of industrial units and 35.0% of total employment in manufacturing and service sectors of India. The unorganized sector which forms a major component of the MSE segment comprises almost 95.0% of total industrial units and employs over 65 million people. The contribution of Services Sector within the SME segment is quite significant; especially IT enabled services, hospitality services, tourism, couriering, transportation, etc. The SMEs have also been playing a vital role in the job creation process. To give a focused attention to emerging SMEs in India, the Bank has been considering other commercial units with a turnover up to Rs. 150 crore at par with the SMEs. To promote the growth of SME Sector, the Bank has launched a special and novel delivery model, viz. SME Loan Factory, which at present, is operationalised in 36 centers of the Bank and well accepted in the marketplace. The SME Loan Factory is an innovative model for streamlining processes and for timely sanctions of SME loan proposals. The model comprises of the Central Processing Cell for speedy appraisal and sanctioning of proposals within the stipulated deadline. Out of 36 SME Loan Factories as on 31st March 2010, three SME Loan Factories have been established during the year. The Bank has SME Loan Factories at all major business centres across the country, viz. Agra, Ahmedabad, Bangalore, Bareilly, Baroda, Bhilwara,
Bhubhaneshwar, Bulsar, Chandigarh, Chennai, Coimbatore, Dehradun, two Factories in Delhi,Hyderabad, Indore, Jaipur, Jamshedpur, Jamnagar, Jodhpur, Kanpur, Kolhapur, Kolkata,Lucknow, Ludhaina, 3 Factories in Mumbai, Nagpur, Nashik, Pune, Rajkot, Raipur, Surat,Varanasi and Vishakhapatnam. These SME Loan Factories sanctioned loans aggregating Rs. 11,071 crore during FY10 as against Rs. 8,508 crore in the previous year. Growth of Business The total outstanding in MSME Sector works out to Rs. 21,111 crore as on 31st March2010. The growth in lending to MSME Sector during the last three years is given in the table below. Financial Year Percentage Growth
2007-08 31.11% 2008-09 24.18% 2009-10 43.98% The percentage growth of MSME credit during FY10 is relatively high as the advances up to Rs. 20 lakh to Retail Trade are, now, classified under the "Micro & Small Enterprises Sector" after the RBI's revised guidelines issued during September, 2009.The Bank has taken the following initiatives in its SME business segment during the year under review. Initiatives in SME Financing During FY10 The Bank set up three new SME Loan factories during FY10. The Bank sponsored workshop on "Management Skills to source financing and Management of Technology by SMEs" arranged by AIMA at Kolkata, Bangalore. The SME Meets and interactive sessions were held at various centres with SME customers The Bank introduced seven new customer-centric area specific products to suit the local cluster needs. The Bank Sponsored a full day Seminar on "Importance of CFO & Financial Advisory Services for SMEs" jointly with Maharashtra Industrial and Economic Development Association, India International Trade Centre (IITC-India), SME Training Institute of India and CFO and Financial Advisory Council for SMEs. The Bank celebrated SME Month from 1st December, 2009 to 31st December, 2009, which was subsequently extended upto 15th January, 2010 in order to give boost to SME advances. The concessions in rate of interest and service charges were announced for loans sanctioned during the celebration period. The Bank participated in the Workshops arranged by D&B in partnership with CGTMSE on Bank Credit to Micro & Small Enterprises and Role of Credit Guarantee.
ATM/Debit Card Operations No. of ATMs operationalised No. of Debit Cards issued New Initiatives during FY10 a) Payment of school fees through ATMs (tie up with four schools) b) Fund Transfer within self-linked accounts through ATM. BARODA CONNECT (Internet Banking) 31/03/2009 No. of Users 2,21,963 No. of A/cs Linked 7,18,075
31/03/2009 1,179 32.60 lakh
31/03/2010 1,315 45.95 lakh
31/03/2010 3,66,605 12,91,847
The Bank launched a system for an online donation to Temples/Trusts (at present, this facility is available for three Temples). The Bank implemented Beneficiary registration for second factor of authentication to prevent "Phishing" incidents. Baroda RTGS/NEFT Particulars No. of Inward Transactions No. of Outward Transactions Avg Transactions per day (Inward) Avg Transactions per day (Outward) 2008-09 RTGS 3,42,145 4,43,353 1,133 1,468 2009-10 RTGS 8,85,527 12,93,970 2,951 4,303
NEFT 6,12,701 1,50,081 2,029 497
NEFT 15,83,158 6,61,923 5,277 2,206
Phone Banking This facility was launched 19th March, 2009. Number of Users Registered as on 31st March, 2010 was - 2, 42,770. The Bank is experiencing per day average hits of about 450. Non-Resident Indian (NRI) Services Total NRI Deposits increased to Rs. 16,792 crore as on 31st March, 2010 from the level of Rs. 15,066 crore as on 31st March, 2009, representing a growth of 11.46% duringFY10. The Bank participated in 'Pravasi Bhartiya Divas-2010' in January 2010 at New Delhi. Baroda Cash Management Services (BCMS) During FY10, these services were started at ten centers within India. There are four modules under the BCMS, out of which three modules have been made operational, i.e., Payment Module, Collection Module & Clearing Module. The fourth module i.e. Invoice Module is yet to be started. During FY10, the total number of transactions in BCMS were 9, 30,000 with total turnover of Rs. 5,000 crore. It is proposed to extend these services to 100 more centres in a phased manner. Depository Services The number of identified branches for providing depository services has been increased from 280 to 1,007 during FY10.
Sale of Gold Coins The Bank started selling Gold Coins in October, 2007. The Gold Coins in denomination of 2 gm, 4 gm, 5 gm, 8 gm & 10 gm are being sold. These coins are imported from Switzerland and purity of the coins is 99.99%. New Services to be started during FY11 Internet Payment Gateway (Baroda e-Gateway). Mobile Banking.
2.7 Peer Comparison

P/E P/BV Market Cap EV/EBIDTA ROE ROCE D/E (TTM) (TTM) (Rs. in Cr.) (x) (%) (%) (x) (x) (x) 137,129.27 33,383.69 32,972.00 22,579.71 22,239.00 15,292.08 12,469.96 9,495.33 9,220.72 8,998.18 8,770.78 7,526.49 17.08 8.07 7.64 5.72 9.17 7.59 7.81 6.53 5.71 6.54 8.57 5.51 2.11 1.59 1.65 1.26 1.39 1.38 0.98 0.93 1.16 1.18 1.07 1.05 17.07 16.64 16.07 14.95 17.62 16.03 13.51 13.64 13.61 15.44 16.83 16.07 12.6 23.5 24.5 26.4 17.3 20.9 15.8 17.2 23.0 21.0 14.8 21.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Company
St Bk of India Bank of Baroda Punjab Natl.Bank Canara Bank Bank of India Union Bank (I) IDBI Bank Oriental Bank Indian Bank Allahabad Bank IOB Corporation Bank
Central Bank Andhra Bank Syndicate Bank
7,277.60 7,221.38 6,417.98
6.64 5.94 6.33
1.31 1.11 0.96
15.94 14.08 16.64
19.5 23.2 17.6
0.0 0.0 0.0
0.00 0.00 0.00
India Infoline Research Team / 14:45 , Apr 29, 2011
Bank of Baroda (BOB) Q4 FY11 net profit at Rs12.9bn came in higher than our estimates of Rs11.7bn. Higher operating cost and provision charges was more than off-set by healthy growth in NII and non interest income. Domestic margins expanded 34bps qoq to multi-quarter high of 4.2%. Global loan book grew 10.4% qoq (30.6% yoy) with deposit growth at 8.5% qoq (26.7% yoy). LDR inched to 75% levels. The domestic loan book expanded 11.4% qoq (28.7% yoy). Growth was witnessed across segments of retail (up 34% yoy), SME (up 30% yoy) and agri (up 14% yoy). With 75-100bps hike in lending rates implemented during the quarter, domestic margins expanded 34bps qoq to multi quarter high of 4.2%. Domestic deposits during the quarter grew 8% qoq (26% yoy). Domestic CASA growth however came in lower at 6% qoq (21.4% yoy) with share of CASA proportion declining to 34.4%. International business continues to grow at 30%+ rate and comprises ~25% of total business. During the quarter, international loan book grew 7.4% qoq (37% yoy). Deposit growth too remained healthy at 29% yoy (9% qoq). Margins on the international front however remained flat at 1.4%. With presence across 25 countries through 85 offices, operating cost has remained low with C/Income ratio at <20% vs. 43% on domestic front.
Asset quality too remains comfortable with GNPA at 0.62%
BoB had maintained an adequate check on its asset quality in the past. However, during the quarter, GNPA at 1.4% grew 31% yoy (14% qoq) owing to higher slippages. Slippages during the quarter came in higher at Rs6bn (1.5% on annualized basis). Agri and SME continue to remain areas of concern for the bank. The bank restructured loans to the tune of Rs6.7bn during the quarter taking the total restructured loan portfolio to Rs67.1bn or 2.9% of total loans. PCR (including technical-w/off.) remained healthy at 85% levels. We have lowered our FY12 and FY13 net profit estimates factoring in margin compression, higher provisions and lower growth. We expect BoB to witness 26% CAGR in loan book over FY10-13E. This would translate into 24%/27% CAGR in balance sheet/ net profit over FY10-13E. During the quarter, the bank received Rs24.6bn from GoI towards the
recapitalization scheme, thereby boosting its capital adequacy ratio. Steady growth, adequate capital with decent return ratios and improving market share should drive valuations for the bank. We value the bank at 1.4x FY13E book to arrive at target price of Rs1,050. Upgrade to BUY.
Results table (Rs mn) Total Interest Income Interest expended Net Interest Income Other income Total Income Operating expenses Provisions PBT Tax Reported PAT EPS
Q4 FY11 Q3 FY11 % qoq Q4 FY10 % yoy 63,342 56,662 11.8 43,538 45.5 (37,203) (33,739) 10.3 (26,089) 42.6 26,139 22,923 14.0 17,450 49.8 8,345 6,762 23.4 8,483 (1.6) 34,484 29,684 16.2 25,933 33.0 (15,026) (11,172) 34.5 (9,645) 55.8 (5,904) (3,041) 94.2 (3,773) 56.5 13,554 15,472 (12.4) 12,514 8.3 (611) (4,783) (87.2) (3,452) (82.3) 12,944 10,689 21.1 9,063 42.8 33.0 29.2 12.7 24.8 32.9
(Rs bn) Q4 FY11 Q3 FY11 % qoq Q4 FY10 % yoy Loans 2,287 2,072 10.4 1,750 30.6 Deposits 3,054 2,815 8.5 2,410 26.7 - Domestic CASA deposits 802 756 6.0 660 21.4 Key Ratios NIM (%) Global yield on advances Global yield on investment Global cost of deposits CASA (%) C/D (%) Non-interest income (%) Cost to Income (%) Provisions/Income (%) BV (Rs) CAR (%) Gross NPA (%) Net NPA (%) Q4 FY11 Q3 FY11 chg qoq Q4 FY10 chg yoy 3.5 3.2 0.25 3.0 0.48 8.7 8.6 0.2 8.2 0.5 6.8 7.4 (0.6) 6.5 0.3 4.8 4.5 0.3 4.9 (0.1) 34.4 35.1 (0.8) 35.6 (1.3) 74.9 73.6 1.3 72.6 2.3 24.2 22.8 1.4 32.7 (8.5) 43.6 37.6 5.9 37.2 6.4 17.1 10.2 6.9 14.6 2.6 534.4 459.6 74.9 378.4 156.0 14.5 12.5 2.1 14.4 0.2 1.4 1.3 0.0 1.4 0.4 0.4 (0.0) 0.3 0.0
Source: Company, India Infoline Research

2.8 Various types of research Primary research

This collects data that does Survey, questionnaire, interview, observation. not already exist.
Secondary research
This looks at existing data. It may be a summary, collation or synthesis of information.
Qualitative research
Looks at what humans behavior and the reasons behind it. What people do and why.
Quantitative
Quantitative research systematic empirical investigation quantitative properties. How many people do these things and how often.
Data collected from various researches

The data collected include inputs from various people who are attached to this sector. We have incorporated different researches findings which are useful for our survey. Some of them are: Research who have conducted research about implementation of some particular deposit and banking products in a specific areas The report of banking sector which can out with their annual report about a particular deposit and product Inputs from regional office who are responsible for monitoring of their branches Interviews extract of different officials and experts Internet database is also a important source of material
Different journals published by different agencies or institutions from time to time Lastly but not the least old records which give a gist of what the project is all about
2.9 Identifying the research gap

In spite of all the initiative the desire out is hardly matched at ground level .There are follows reasons for that:
The produts are widely different so related research matter is hard to find Also currently hardly any research is going on so current data is scare Also the data which is available is very old and deposit and various products have been revamp many a times in between so that old research is hardly of any use Also government bodies are reluctant to provide actual facts and figures about any scheme
2.10 Conclusion
In spite of all the problems faced in finding proper research material the literature review of the schemes was done efficiently. More and more through reading of different literature, abstract from books, journals, research papers etc is done more it help in deeper understanding of the various deposit scheme and third party products , their implementation and their probable desire outcome. Literature reviews also help us to understand other socio-eco aspects affect the success or failure of these schemes heavily. These reviews will help us to formulate our survey in a better way.
3 Research Plan
3.1 Objective
Topic given under as summer internship program To study the customer of BANK OF BARODA. To study the working of City Sales Office in casa deposit and third party product To know about the how many people have knowledge about insurance To know about the how many people have knowledge different deposits accounts
3.2 Research Methodology

Research Methodology is an important part of every project. Because it help in knowing how to select representative sample from the world or the general population, the right research tools and techniques to complete the research. To satisfy the customer the study of consumer behavior is important because he is the king. The Research Process is based on survey method, so in order to implement the survey we go to Service Provider and the Services user which is the customers. The research involves the following steps : Define the problem & research objective - The problem and objective is to assess the services offered by various service provider and what the consumer wants. Developing the research Plan - The second stage of research methodology is to develop a research plan.The research plan desigined to take decesion on the data soruces, research approaches, research, instruments, sampling plan and contact methods. Survey Research It was a descriptive research.
Research Instrument The use of an effective research instrument is very important. Because through this instrument we collect data. In this project through observations & personal interviews were conducted. Personal Interview As we were doing direct selling. we interacted with my customers are asked about their views in selecting a service and what are there wants and expectations from a service provider Sampling Plan - After finalizing the research approach and instruments a sampling must be designed. Sampling Unit data have been collected from different branches of major banks Sample size It has been collected from the customer of 5 major bank. Sampling Procedure: - What process should be used to collect the sample. So, representation samples, convenience sampling is used. Collect the Information:-After completing all the steps, the data are collected from different sources. Analyze the Information:-After the data is collected they are analyzed to know the findings. The data is then tabulated to develop frequency distribution.
Present the findings:-As the last step, the findings are presented that are relevant to the major marketing decisions.
3.3 Research design:

For our research we obtain the information from extensive Literature Review and Rural Survey. As the purpose of our research study is that of exploration that why we chose a flexible research design which provides opportunity for considering many different aspects of a problem.
Line Diagram of our Research Design
Literature Review
:
The bank of baroda for our research Project
Design Sample Questionnaire
Pilot Survey to Questionnaire
Design Final Questionnaire
Sort out the problems
Interviewed customer of bank
Analyze the data
Find the degree of knowledge among customer about various deposit accounts and third party product
Show the findings
Null Hypothesis true 74 School of Management Studies, MNNIT Allahabad
Alternative hypothesis true
Analyse the data
1. Determining sample design: As the total geographical area of interest is big one we chose Area Sampling. Area Sampling is quite close to cluster sampling and is often talked about when the total geographical area of interest happens to be big one. Under area sampling we first divide the total area into a number of smaller non-overlapping areas, generally called geographical clusters, then a number of these smaller areas are randomly selected, and all units in these small areas are included in the sample. Area sampling is especially helpful where we do not have the list of the population concerned. It also makes the field interviewing more efficient since interviewer can do many interviews at each location. 2. Collecting the data: First to design our questionnaire we collect information from internet, journals, academic report and government offices. After designing questionnaire we go to village for rural survey. Collect raw data from our research. We interviewed villager on 5 different village to get detail and unbiased information about government schemes.
3. Execution of the project:
To execute our project a very important step is
research process. Approximately 4 months for our project. We divide our time such a manner that we are able to complete our research within predetermined time. I. II. III. Literature Review one and half month Sampling of questionnaire 15 days Plot survey and design final questionnaire 20 days
IV.
Final survey and analysis of data 1 month
4. Analysis of data: After the data have been collected, we turn to the task of analyzing them. For the analysis of data we have done number of closely related operations such as establishment of categories, the application of these categories to raw data through coding, tabulation and then drawing statistical inferences. Thus, we have classified the raw data into some purposeful and usable categories.
Coding operation we have done at this stage through which the categories of data are transformed into symbols that may be tabulated and counted.
Editing is the procedure we have done that improves the quality of the data for coding. With coding the stage is ready for tabulation. Tabulation operation we done for the getting data in the form of tables. Analysis work after tabulation is generally based on the computation of various percentages, coefficients, etc., by applying various well defined statistical formulae. The technique of analysis of variance help us in analyzing whether three or more varieties of seeds grown on certain fields yield significantly different results or not. In brief, we have analyzed the collected data with the help of various statistical measures. 5. Hypothesis-testing: To test our hypothesis we conduct survey in 5 villages and interviewed rural people about the schemes. With the data Analysis we are able to check the validity of our hypothesis.
6. Generalizations and Conclusion:
After testing hypothesis we are able to
generalize our finding and come to the conclusion that whether there is relation
between awareness and perception of usefulness of government schemes in rural areas and their success or not. If yes what is the behavior positive or negative.
7. Preparation of the report or the thesis: Finally, we prepared the report. We have write report with great care with following outline-
a. Acknowledgement b. Index c. Introduction d. Literature Review e. Research Plan f. Data Analysis g. Conclusion and Recommendation
3.4 Conclusion
With proper methodology like qualitative method in our case project can successfully carried out. Also looking after donts and dos of a proper questionnaire questions were from to carter every need of the customer in in different branches in different area selected by us. Also looking at the geographical constraints the research plan is formed in such a way that people (of different type) are covered well; proper information is extracted from them in shortest possible time. Also the research plan help in forming a stepping stones for the data collection and analysis as questions are formed in keeping in mind all the difficulties that might come and research strategy in drafted accordingly.
4 Data Analysis
4.1 Introduction:
The main aim of this evaluation study is to gather information and critically analyze the data received during our field survey. As we were limited to do our survey on the adjoining areas surrounding Allahabad due to time and proximity factors. We collected data from the various branches of Bank of Baroda. During our field survey we came across wide number of peoples from different age groups, education qualifications and other varied demographic fields. The analysis on the Sample size Surveyed is been as follows: 4.1.1 Gender
Sex
male fem ale Pies show counts 16.38%
83.62%
Figure no. 4.1
Analysis: With an aggregate percent of 83.62, male section is completely influencing the results. On the other side female section contribute to only 16.38% of the entire result.
4.1.2 Age of Respondents:
Age of respondant
0-18 19-30 31-45 46-60 above 60 Pies s how counts 34.48% 24.14%
12.07% 12.93%
16.38%
FIGURE NO. 4.2
Analysis: close analysis of the situation shows that most of the respondents were from the age group 19-30 and the least being from age group above 60 .others also contribute majorly to the total.
4.1.3
Annual Income
6 .9 0 %
Annual Income
0 -2 0 00 0 2 00 0 1-5 00 00 5 00 0 1-1 00 00 0 a bo ve 1 00 0 00
1 2.9 3% 3 5.3 4%
Pie s sh ow co u nts
4 4.8 3%
Figure no. 4.3
Analysis: Most of the respondents lie in the income group 20001-50000. A large proportion of repondents were in income group less than 20000. Significantly small amount of respondents was from income group above 100
4.1.4 Educational Background:
6 .9 0 %
Educational Background
U ne du cate d p rim ary ed uca tio n inte rme dia te p as s g ra d ua te p os t gra du ate Pie s s h ow co u nts 2 1.5 5%
1 5.5 2% 2 3.2 8%
3 2.7 6%
Figure no. 4.4
Analysis: Intermediate pass repondents were in large proportion i.e. 32.76%. Only 6.90 % of the respondents were post graduate. But the trend has shown some amount of increase in educational standards.
1. Rating of satisfaction level among the customers
28%
32%
Internet banking facility-baroda connect Product promotion campaigns Customer education workshops
40%
Figure no. 4.5
Analysis: The Figure clearly shows that the customers satisfaction level among the three are very close to each other, in which product promotion campaign are more than the other twos i.e., 40% followed by baroda connect 32%.
2. Ranking of alternate delivery channel
10%
16%
ATM Baroda Connect 54% RTGS NEFT
20%
Figure no. 4.6
Analysis: The figure shows that the customers are more in favour of ATM as they ranked most ATM about 54% among the all above. Baroda connect is on 2nd no. with 20% and NEFT is the least among all with 10%.
3. Types of current account offered by BOB prefer by the customers
25% Baroda Advantage Current Account Baroda Premium Current Account Baroda Premium Current Account-Privilege 30%
45%
Figure no. 4.7
Analysis: Baroda Advantage Current Account is preferred more by the cutomer of Bank Of Baroda with 45% then the Baroda Premium Current Account (BPCA) with 30% and Baroda Premium Current Account-Privilege (BPCAP) with 25%.
4.1. The minimum quarterly average balance for rural areas should be decreased
70% 60% 60% 50% 40% 40% 30% 20% 10% 0% yes no
Figure no. 4.8
Analysis: 60% of the people are in favour of that the minimum quarterly average balance for rural areas should be decreased and 40% are not in favour of this , 40% people are think that the minimum quarterly average balance are also decreased for urban people.
4.2. Bank of Baroda should take more initiatives to tap the potential in rural India
80% 70% 60% 50% 40% 30% 20% 10% 0%
76%
24%
Yes
No
Figure no. 4.9
Analysis: 1) 76% of the people are in favour of that Bank of Baroda should take more initiatives to tap the potential in rural India and 24% are not in favour of this . Large number of people think that rural India have lots of potential , so, they are in favour of this.
5. Rating of Types of Saving Account among the consumers with their satisfaction level
35% 30% 30% 25% 25% 20% 15% 10% 5% 0% Baroda Centenary Savings Account Savings Bank Account Super Savings Account Nagrik Bachat Khata Baroda Salary Advantage Saving Account Baroda Bachat Mitra Baroda Baroda Pensioners Jeevan Savings Suraksha Bank Savings Account Bank Account 9% 10% 8% 7% 5% 16%
Figure no. 4.10
Analysis: Recently started the new saving account type Baroda Jeevan Suraksha Savings Bank Account is most satisfied among all the Saving accounts with 30% because in this in very small amount the account holder also enjoy the life insurance scheme upto 5 lacs. Super Saving Account is on 2nd place with 25%.
6. Do you face any problem at the time of renewal of your account in bank of baroda ?
%
17%
10 50
83%
Figure no. 4.11
Analysis: Only 16.6 % face problem at the time of renewal because service provide by the bank of baroda is very good 83% are satisfy and happy.
7. Adequate feedback facility available
9 8 7 6 5 4 3 2 1 0 State Bank of India ICICI Bank Punjab National Bank Bank of Baroda HDFC Bank Yes No
Figure no. 4.12
Analysis: ICICI bank leads the chart in terms of customer grievance handling and adequate feedback facility. All the Public service bank enjoy the same postion as the policies used by these PSBs are almost similar. This shows that there is a scope of improvement in terms of customer grievance handling by Bank of Baroda in order to take a winning edge over the other competiting PSBs.
8. Satisfaction level of cost of service

4 Extremely satisfied Satisfied 3 Neither satisfied nor dissatisfied Dissatisfied 2 Extremely dissatisfied
0 State Bank of India ICICI BankPunjab National Bank of Baroda HDFC Bank Bank
Figure no. 4.13 Analysis: SBI enjoys the top position in offering the loans at the lowest cost while PNB and BOB share the same position. Private players are way behind in offering products at a lower rate.
9. Availability of sufficient information
10 9 8 7 6 5 Yes 4 3 2 1 0 State Bank of India ICICI Bank Punjab National Bank Bank of Baroda HDFC Bank No
Figure no. 4.14
Analysis: Bank of Baroda is present with ease of information while opting for a loan. The credit goes to the loan executive that deal with customer in most efficient manner.
10. Presence of hidden clauses
Figure no. 4.15
Analysis: This is a feature that most of the banks are avoiding as it harms the customer base in long run. Thus true and correct information is being offered to the customers by all the banks.
11. Presence of False information
7 6 5 4 3 2 1 0 State Bank of India ICICI Bank Punjab National Bank Bank of Baroda HDFC Bank
Often Sometimes Rarely Never
Figure no. 4.16
Analysis: This graph reflects that Bank of Baroda is again faring better in terms of availability of information, followed by PNB and SBI. People still dont trust private players in this regard and this is a plus point for most of the PSBs.
12. Account opening processing time
Appropriate Somewhat satisfactory
Somewhat dissatisfactory Extremely dissatisfactory
0 State Bank of India ICICI Bank Punjab National Bank of Baroda Bank
HDFC Bank
Figure no. 4.17
Analysis: Account opening processing time is the third most important criterion after interest rate and processing fee and PNB in leading the chart followed by Bank of Baroda .
13. Do know about the insurance?
yes 43
no 17
28%
72%
Figure no. 4.18
Analysis: 72% people are aware about the insurance provide the bank and only 28% are not aware
14. Awareness about the insurance policy provide by the bank
%
yes 57 no 3
5%
95%
Figure no. 4.19
Analysis: Every one in know about insurance 95% people are aware about insurance policy of different company,and they know that insurance give security to family so that children education go ahead and make life easy and financially strong.
16. From how long you are using life insurance of that company?
%
2 years 13 5 years 22 10 years 19 above 10 years 8
13%
21%
31% 35%
Figure no. 4.20
Analysis: Maximum people are using insurance from over last 5 years (35%), 13 % are using insurance from 2 years , 31% are using from 10 years.
17. What is time interval of your premium payment ?
%
MONTHLY 7 QUATERLY 2% 12% ANNUALLY 52 HALF YEARLY 1
86%
Figure no. 4.21
Analysis: 86% people pay their premium payment by annually according to their annual income,11.6% pay monthly and only 2% pay their premium half yearly and no one pay quaterly accoording to survey report.
18. Specific feature customer like about this bank

25
20
15
10
Figure no. 4.22
Analysis: Low interest rate being the most favored reason while opting for a loan. The second being helping nature of the staff. This shows that people want those services which come without hassels and with coordination from the banking staff. People prefer low processing time, lesser paper works and a small number of people also prefer to have an efficient handling mechanism and good ambience inside the bank.
19. Repeating same bank for future needs

Figure no. 4.23
Analysis : The customers of private bank dont want to repeat their bank for future needs. This shows gross dissatisfaction among customers of private banks. SBI and BOB both enjoy their equal status of being the favorite of customers for future needs.
20. Service satisfaction level
4 Excellent 3 Very good Good 2 Average Bad 1
0 State Bank of India ICICI Bank Punjab National Bank Bank of Baroda HDFC Bank
Figure no. 4.24
Analysis: The service satisfaction level of Bank of Baroda is more than any other bank followed by PNB and SBI. Consumers prefer SBI because of its Teaser Rate policies but often report unhelping staff, lack of customer friendliness, too hectic procedure for getting the required services and hence the service satisfaction level of SBI is lower than other 2 major players namely PNB and BOB. Private banks lag because of their profit centeric approach
4.2 Limitation
Limitations are the boundaries wherein the researcher has to work. To make the research successful a researcher should know his/ her boundaries. Any project done under the proper guideline comes across fewer limitations.
Limitations for the project:

Lack of sufficient timeFinding out the deposits customers of major banks, conducting a survey and then making a comparison is a lengthy task and its efficiency would have certainly increased if I had more time. This is a project completed in just 6 weeks which may have affected the perfection of the research undertaken.
Lack of interest of respondentsIt would be difficult to convince the customer of a bank to give his valuable time as they would not ready to give their time which they were utilizing in carrying out their banking transactions.
Other bank were not very cooperativeWhile surveying the customers of other banks, I being a trainee of Bank of Baroda was not benefitting their cause and hence were not coming out with very useful information to me.
Non availability of customer related dataSince the details of the customers of a bank is a trade related data, no bank was willing to provide me the information about various customers
5 CONCLUSION & RECOMMENDATION
5.1
Findings:
Most of the people of ALLAHABAD know about the insurance policy provide by the bank .Many people have done LIC ,Reliance,Bajaja Allianz insurance.
According to their income people have choose insurance policy . People opt for insurance due to : It make family secure Risk cover Tax benefits Finanacial support Investment According to survey I find that only 20% know about third party and 40% dont know about about the INDIAFIRST LIFE INSURANCE. Maximum people have opt insurance policy over 10 years of other company. Age of above 35 years they have opt insurance policy for their children for her future I found that very few people have knowledge about the different deposit accounts. Another reason is that most of the people are not any interested to know about the different accounts because they think correct and sufficient information is not provided to them.. No facility of door to door service. One thing I would like to add that service provide by BANK OF BARODA is very good it observe by survey. Recently BARODA NEXT is launch due to which life become easy for customer of BANK OF BARODA. Establishment of city sales office is a mile stone for bank of baroda as it works great in growth of casa deposit and third party product.
5.2
Recommendation
The first and the foremost suggestion which I would like to give is that there should more awareness of insurance policy of BANK OF BARODA , proper marketing strategy should be plan. Door to door service.
More advertisement by distributing pamphlets, hodings,commercial add on T.V like BARODA NEXT. More awareness
Proper marketing should be done for insurance policy of Bank of Baroda. First Bank of Baroda have to convince the old customer of account holder of Bank. Then you have to catch others. They should identify the threats and challenges prevailing in the market and according to that they should form strategy to be more unique. As we all know that BANK OF BARODA is third position among all bank ,they have more customer as compare to other bank they can easily attract more people for insurance ,by using the goodwill of bank. Service of BANK OF BARODA is very good this feature can also use for convincing the people. It does not take any commission to customer for policy like LIC take, this point also use for convincing the people. INDIAFIRST insurance for different people . Like savings plan is good for business Service people go for future plan , they can also take education plan for their chidren. Such thing we can say to customer for insurance.
5.3 Conclusion
Despite one of the best branch profile, CASA ratio has been falling owing to industrywide phenomenon for PSU banks and banks strategy to fund credit expansion through short term high cost bulk deposits. CASA growth for BOB during FY0509 has been at about 17.7% visvis 19% for SCB, but better than 17% for PSU banks. However, improving CASA ratio and reducing dependency on bulk deposits are the primary focus areas for the bank. As on Q2FY10, bank has significantly reduced dependence on bulk deposits to about 810% from above 20% in FY08 due to its conscious strategy and also to some extent due to slump credit growth. Falling term deposits rates have led to better CASA growth in 1HFY10. We believe that significant branch expansion, reducing spread between term and saving deposit rates, and concerted efforts to effectively utilise one of the best branch profile available along with branch expansion plan, will yield results in long run with improvement in CASA ratio. We expect CASA to register 25%CAGR over FY0912E and CASA ratio to improve to about 33.5% by FY12E. Bank has witnessed considerable improvement in operating efficiency over past 3 years with CI (costincome) ratio falling to 45% in FY09 from a high of 54% in FY06, primarily due to better employee productivity leading to better income generation and concerted efforts to control cost. During past few years, bank has invested heavily in to human capital, technology upgradation including CBS implementation, brand make over and expansion, which should start yielding results with better income generation at relatively lower incremental cost. Though CI ratio for many PSU banks has nearly bottomed at about 40% levels, BOB is yet to reap the benefits. We expect costincome ratio to improve further to about 4142% level over FY11 FY12E. Responding to the challenges of heightened competition and to improve its position in the market place, the Bank has been continuously focusing on business transformation with several pioneering efforts in the banking sector. During 2011-12, The Banks focus has always remained on the stable and consistent growth with quality. The fact that the Bank has been delivering on its promises year after year has won the Bank several recognitions both nationally and internationally. During 2010-11, the Bank won various awards for its best business and financial performance in the banking arena. Bank of Baroda (BoB) is capitalizing on its inherent strengths of (1) a large domestic (3,200+) and international (75+) branch network (2) huge retail customer base (38m+), (3) established brand value, (4) strong corporate client reach and (5) technological advancement. Under the leadership
of Mr Mallya, the bank's core operation has improved significantly with improvement in CASA ratio and margins and fall in cost-to-core income ratio from FY08 levels. GoI is expected to infuse Rs24.6b (14% of the existing net-worth), to increase its shareholding to 58%. Despite the large capital infusion, RoE is expected to remain strong at 21%+ (vs average of 13.7% over FY05-09). RoA is expected to remain strong at 1.2%+ v/s ~0.8% over FY05-09. Growth with quality: Over the past three years, strong loan CAGR of 25%, sustained CASA ratio at 35%+ and improved margins vindicate the success of the managements efforts. BoB's NIMs for its domestic business improved from ~3% in FY07 to ~3.8% in 3QFY11. Core operating profits to average assets improved from an average of 1.5% over FY05-09 to 2%. Loan growth is expected to remain above industry growth while focus on CASA growth would continue. With the government of India's capital infusion of ~Rs24.6b to increase its stake to 58%, BoB's tier-1 capital will be ~10%. Thus capital will not be a constraint for growth. Asset quality comfort among the highest: Asset quality of BoB's is among the best in the PSU banks with a well diversified loan book across international, retail and domestic corporate/SME businesses. Over FY06-10, BoB has reported one of the lowest slippage ratio at less than 1.2%. As of December 2010, BoB's PCR stood at comfortable level of 73% (86% including write-off) and its restructured loans were lowest amongst peers at 2.9%. Impeccable asset quality is leading to the lowest credit cost in the industry at ~0.5%, driving strong earnings growth. Operating leverage to boost profitability: BoBs cost-to-assets is currently ~1.4% and cost to core income ratio is ~40%. Improved technology and higher productivity would continue to boost the overall profitability for the bank. We expect further operating leverage for BoB and expect core cost to income ratio to decline to 38% by FY12 and cost to assets to 1.28%. Valuations at a premium: We expect the bank to post earnings of 16% CAGR over FY11-13 due to 22% CAGR in loans and healthy operating parameters. While performance on core operating parameters like (1) margins, (2) CASA growth and (3) asset quality is commendable. Sustainability of operating parameters is a key for superior valuation and the scope for negative surprises is limited. Maintain Neutral.
Refrences:
www.Bank Of Baroda.Com Business Line news paper www indiafirst.com www wekepidia .com Business line magazine
ANNEXURE
QUESTIONAIRRE
Note: This questionnaire is for education and survey purpose only. Information provided by the respondent would be kept with the bank only and no other use of this questionnaire shall be made.
Gender: Age: Occupation: Banks Name:
1) Rate your satisfaction level for the following (1 being the highest and 5 being the lowest): S no. 1 2 3 1 Internet banking facility-baroda connect Product promotion campaigns Customer education workshops 2 3 4 5
2) According to you which of the alternate delivery channel is successful as a means of marketing initiative(rank as 1,2,3 ,4 with 1 bieng the highest and 4 bieng the lowest) : 1) ATM_____ 2) Baroda connect_____ 3) RTGS______ 4) NEFT_____
3) Which among the following types of current account offered by BOB is preffered by you
1) Baroda Advantage Current Account ______ 2) Baroda Premium Current Account (BPCA) _____ 3) Baroda Premium Current Account-Privilege (BPCAP) ______
4) Answer the following (Yes/No) 1) The minimum quarterly average balance for rural areas should be decreased Yes____ No_____ 2) Bank of Baroda should take more initiatives to tap the potential in rural India Yes____ No____ 3) Bank of Baroda should take more initiatives to make banking easy and convenient Yes____No____
5) Rate the following saving account on the basis of the satisfaction from the benefits reaped from them ( 1 being the highest and 5 being the lowest): S no. 1 2 3 4 5 6 7 8 1 Baroda Centenary Savings Account Savings Bank Account Super Savings Account Nagrik Bachat Khata Baroda Salary Advantage Saving Account Baroda Bachat Mitra Baroda Pensioners Savings Bank Account Baroda Jeevan Suraksha Savings Bank Account 2 3 4 5
6) Do you face any problem at the time of renewal of your account in bank of baroda ? a) Yes b) No
7) Do you feel that adequate customer service/feedback facility is provided by your bank? a) Yes b) No c) Cant say 8) Are you satisfied with the cost of servicing/interest rates offered by the banks? a) Extremely satisfied b) Satisfied c) Neither satisfied nor dissatisfied d) Dissatisfied e) Extremely dissatisfied 9) Do you feel that sufficient information was available to you while opting for account opening a) Yes sufficient information was available b) No sufficient information was not available 10) Were there any hidden clauses present in the agreement which you came to know later? a) Yes I came across many hidden clauses b) No there was not a issue of hidden clause 11) Have you come across any false information/promise disclosed to you by your bank? a) Often b) Sometimes c) Rarely d) Never
12) Was the account opening unnecessarily long? a) b) c) d)
processing time appropriate for you or was it
Appropriate Somewhat satisfactory Somewhat dissatisfactory Extremely dissatisfactory
13) Do know about the insurance ? a) yes b) no
14) Are you aware about the insurance policy provide by the bank? a) yes b) no
15) If yes then which life insurance or general insurance you are using ?
16) From how long you are using life insurance of that company? a)2 years b)5years c)10 years d)above 10 years
17) what is time interval of your premium payment ? a)monthly b)quarterly c)annually d)half yearly
18) Any specific feature that you like about this bank that makes you to reach to your decision? a) Processing time b) Processing fees c) Availability of necessary information d) Paper work required. e) Cordial nature of staff f) Ambience of the bank g) Efficient grievance handling mechanism h) Any other, please specify
19) Would you like to come back to the same bank for further needs? a) Yes b) No
20) What are your views about service satisfaction level at your Bank? a) Excellent b) Very good c) Good d) Average e) Bad

Date: 11 July 2011: School of Management Studies, MNNIT Allahabad

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Date: 11 July 2011: School of Management Studies, MNNIT Allahabad

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CERTIFICATE:

Date: 11 July 2011

Mr. A.K. Chatterji Sr. Manager Bank of Baroda (Project Guide)

Ikramul Haq Anurag Singh (Marketing deptt. CSO)

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2 School of Management Studies, MNNIT Allahabad

BHUPESH KUMAR SINGH MBA (2010-12) MNNIT ALLAHABAD

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3.2 3.3 3.4

Research Methodology Research design Conclusion

4. Data Analysis 5. Recommendation and Conclusions 6. References

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1.1.1 Third Party Product

Objective of the Study:

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1.3.2 Research Instruments;

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2.2.1 Brief History:

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2.2.2 The Heritage

2.2.3 The Ethics:

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2.2.4 Our Logo:

2.2.5 Initial Emblem:

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2.2.6 International Presence:

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2.2.7 Business Philosophy:

Project NAVNIRMAAN Baroda Next

help build Baroda Next and drive the new strategy.

Major Initiatives Taken By Bank In Recent Past:

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BSVS (Baroda Swarojgar Vikas Sansthan)

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2.3 Current Account

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Balance Certificate signature Verification Folio charges Issuance of cheque books

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Cash withdrawal Local base branch Free

Local Non-Base / Outstation Non- Cash with drawal up to Rs25000/ - per

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Rebate/ Discount on Locker proprietor/ partners/ directors.

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b. Local Non-Base / Outstation Non- base branch

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Baroda Premium Current Account-Privilege (BPCAP)

Baroda Premium Current Account Privilege (BPCAP)

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20. Cash withdrawal a. Local base branch

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