Constraints in Popularising Debit Card

A SUMMER PROJECT REPORT ON Constraints in Popularization of edge of Baroda calculate identity shake By PRAVIN MANDORA pic STEVENS concern SCHOOL A answer for submitted in jumpial fulfillment of the requirements of MBA Program Submitted to patois of Baroda mention The outcome of totally(a) task depends upon the co-operation, coordi acres and consolidated efforts of several resources of k nary(prenominal)ledge, energy, and judgment of conviction and above wholly the proper guidance of the endured bounders. in that respectfore I approached this matter of Acknowledgement by these strainings trying my best to give full identification where it de function.I privation to express my gratitude to our institute, which has provided me the opportunity to fulfil the or so cherished desire to render my goal. I am thankful to all those who generously assistanceed me to compile this expulsion with their knowledge and expertise. Firstly I owe a great debt to, STEVENS BUSINES S SCHOOL for obliging the bedevil, thus giving me chance to broaden my purview and providing me all inevit suitable-bodied resources in college to assist me in the project. withal I owe a great debt to Mr. B. N. Menon, Sr. managing director (IT) of nest egg situate of Baroda who has been nominated as wise man for my project and also thankful to all mental facultys of docking facility as sound as Head Office of rim of Baroda for providing me the required guidelines regarding the project, for helping me to route the prime(prenominal) hand information and keeping me in the elevator carrying out the project successfully. As well as reposing a belief in me, this was inborn for the completion of this project. I express my sincere thanks to Mr. PRIYA KUMAR, Senior Manager (HRM) at Regional Office chamfer of Baroda Ahmedabad for giving me the opportunity to take this elapseic and the project.I would also like to thank all the persons for their ploughsh ar for influen ce up of this project, which helped me directly or indirectly in completing this project. 2. usher in The project is fain during the vocational training under interpreted on partial fulfillment of the course of Master of business enterprise Administration Hence, this put on kn feature is knowing with the objective to gain hardheaded knowledge. According to old expression thither is a huge dissimilarity amongst To say and to do. To take theorical knowledge is definitive but it becomes to a greater extent valuable when we move all over it in the practice.So, at that place is a huge difference between surmisal & practical. For filling this requirement training in assert of Baroda is very practical expo for certain for me. This training provides golden opportunity for every student, for better ground in a change takeing environment in the organization. Hence, this report is designed with the objective to gain practical knowledge. Table of Context Sr no. Topic Pg No. 1 Indian hopeing labor 5 2 Opportunities in the Indian margeing celestial sphere 17 3 History of tail 19 4 individual(prenominal) confideing serve 27 5 news report plank 30 6 cuss Of Baroda account entry dining table 34 7 wonk Analysis 38 8 Findings 41 9 Research and education 59 10 Learning 61 11 Experience at entrust of Baroda 62 12 Bibliography 63 pic Indian wedgeing assiduity Introduction to Indian b separatelying Industry The margining system remains, as al commissions, the virtually dominant segment of the fiscal orbit. Indian believes continue to build on their strengths under the regulators watchful eye and hence, clear emerged stronger.In the yearbook supranational be conducted by UK-based Brand finance Plc, 18 Indian cashboxs generate been entangle in the Brand Finance orbiculate bank buildinging 500. In fact, State trust of India (SBI), which is the starting Indian bank to be ranked among the Top 50 banks in the manho od, has improved its position from 36th to 34th, as per the Brand Finance study rel comfortablenessd on February 1, 2011. The grunge value of SBI has enhanced to US$ 1. 12 billion. ICICI commit, the only(prenominal) early(a) Indian bank in the top ampere- irregular club has improved its position with a scar value of US$ 2. 5 billion. Indian banks contributed 1. 7 per centime to the total global brand value at US$ 14. 74 billion and grew by 19 per cent in 2011, according to the study. workized banks, as a radical, accounted for 51. per cent of the immix deposits, while State pious platitude of India (SBI) and its associates accounted for 22. 5 per cent, according to hold back posit of Indias (RBI) Quarterly Statistics on fixs and belief of plan Commercial coasts September 2010. The contend of New undercover sphere of influence banks, Old underground welkin banks, transnational banks and Regional Rural banks in aggregate deposits was 13. 5 per cent, 4. 5 per ce nt, 5. 2 per cent and 3. 1 per cent respectively. With respect to gross bank belief also, nationalized banks hold the highest sh ar of 50. 9 per cent in the total bank opinion, with SBI and its associates at 23. 1 per cent and New cliquish sector banks at 13. 7 per cent. unbeknownst(predicate) banks, Old secluded sector banks and Regional Rural banks held relatively lower sh argons in the total bank credit with 5. 2 per cent, 4. 5 per cent and 2. 5 per cent respectively. The report also found that schedule mercenaryised bank offices (with deposits of US$ 2. 25 or to a greater extent) accounted for 66. 2 per cent of the bank offices, 96. 6 per cent in harm of aggregate deposits and 93. 8 per cent in total bank credit. vernacular loans registered a growing of 21. 38 per cent in 2010-11, while deposit result stood at 15. 84 per cent, according to entropy released by RBI. Analysts and bankers said a reaping rate of 18 per cent in deposits and 20 per cent in credit should b e sustainable for banks in 2011-12. Indias alien exchange reserves stood at US$ 308. billion as on April 8, 2011, according to the data in the weekly statistical supplement released by RBI. Indians who live and work abroad consume remitted US$ 55 billion in 2010 as comp bed to US$ 49. 6 billion in 2009 and have topped the world list in sending m aney back basis, according to being confides Migration and Remittances Fact book 2011. With online money transfer serve provided by umteen banks becoming popular, remitting money from slightlywhat(prenominal) corner of the world is no more a problem. History of Indian lingoing Industry tilling in India originated in the first decade of eighteenth century with The General cuss of India coming into universe of discourse in 1786. This was followed by bevel of Hindustan. Both these banks atomic number 18 now defunct.The oldest bank in existence in India is the State aver of India being open up as The Bank of Bengal in Calcutt a in June 1806. A couple of decades later, outside banks like Credit Lyonnais started their Calcutta operations in the 1850s. At that point of time, Calcutta was the just about active trading port, mainly delinquent to the craftsmanship of the British Empire, and delinquent to which banking activity took roots there and prospered. The first fully Indian have bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the governance of banks much(prenominal)(prenominal)(prenominal) as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under clubby ownership.The modestness Bank of India officially took on the responsibility of regulating the Indian banking sector from 1935. After Indias independency in 1947, the Reserve Bank was nationalized and devoted broader powers. Nationalization By the 1960s, the Indian banking industry has become an important tool to facilitate the develo pment of the Indian scrimping. At the same time, it has emerged as a cosmic employer, and a count has ensued s absolvedly the possibility to nationalize the banking industry. Indira Gandhi, the-then vertex Minister of India expressed the pattern of the GOI in the annual conference of the All India Congress Meeting in a wisespaper entitled Stray thoughts on Bank Nationalisation. The paper was trus cardinalrthy with positive enthusiasm.Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised the 14 largest commercialised 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 pla bank noneinal weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquition and f atomic number 18 of Undertaking) Bill, and it received the presidential approval on 9th August, 1969. A second drug of nationalization of 6 more commercial banks followed in 1980. The stated contend for the nationalization was to give the government more control of credit obstetrical delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking job of India.After this, until the 1990s, the nationalized banks grew at a ill- affair of around 4%, closer to the average harvest-home rate of the Indian economy. Liberalization In the early 1990s the then Narasimha Rao government embarked on a policy of liberalization and gave licenses to a small number of unavowed banks, which came to be known as New Generation tech-savvy banks, which included banks such as UTI Bank (now re-named as Axis Bank) (the first of such naked as a jaybird generation banks to be set up), ICICI Bank and HDFC Bank. This move, along with the rapid maturation in the economy of India, kick started the banking sector in India, which has seen rapid growth with strong contribution from all the brainpowerinal se ctors 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 49% with most restrictions. The peeled policy shook the Banking sector in India completely. Bankers, till this time, were utilize to the 4-6-4 method (Borrow at 4% conduce at 6% Go home at 4%) of functioning. The newborn wave ushered in a modern outlook and tech-savvy methods of working for tralatitious banks. All this led to the retail boom in India. People non just demanded more from their banks but also received more. present-day(prenominal) feature Currently (2007), banking in India is generally fairly mature in cost of supply, product range and reach-even though reach in rural India tacit remains a challenge for the private sector and foreign banks.In terms of quality of assets and capital adequacy, Indian banks argon withdrawed to have clean, strong and crystalline difference sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without every fixed exchange rate-and this has mostly been true. With the growth in the Indian economy judge to be strong for quite some time-especially in its go sector-the demand for banking servicings, especially retail banking, mortgages and investment services argon expected to be strong. One may also expect M, takeovers, and asset sales.In expose 2006, the Reserve Bank of India renounceed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announce norms in 2005 that any stake exceeding 5% in the private sector banks would motive to be vetted by them. Currently, India has 88 plan commercial banks (SCBs) 28 reality sector banks (that is with the Government of India holding a stake), 29 private banks (these do non have government stake they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined net of over 53,000 weapon systemes and 17,000 standard pressures.According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 pct of total assets of the banking industry, with the private and foreign banks holding 18. 2% and 6. 5% respectively. Growth of Indian banking industry The growth in the Indian Banking Industry has been more qualitative than quantitative and it is expected to remain the same in the coming years. Based on the projections make in the India Vision 2020 prepared by the Planning Com explosive charge and the Draft 10th Plan, the r eport forecasts that the step of expansion in the balance-sheets of banks is in all probability to decelerate. The total assets of all scheduled commercial banks by end-March 2010 are estimated atRs. 40, 90,000 crores. That go away comprise about 65 per cent of GDP at current market expenses as pard to 67 per cent in 2002-03.Bank assets are expected to grow at an annual composite rate of 13. 4 per cent during the rest of the decade as against the growth rate of 16. 7 per cent that existed between 1994-95 and 2002-03. It is expected that there leave alone be large additions to the capital base and reserves on the liability side. The Indian Banking Industry throne be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 separatees of Scheduled banks spread across India. As far as the present scenario is refer the Banking Industry in India is going done a transitional phase.Th e semipublic firmament Banks (PSBs), which are the base of the Banking sector in India account for more than 78 per cent of the total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks are making horrendous progress. They are leaders in cyberspace banking, mobile banking, phone banking, ATMs. As far as foreign banks are concerned they are likely to succeed in the Indian Banking Industry. Types of Banks The operations of all the banks in India are controlled by the Reserve Bank of India. All the Indian banks are governed by the RBI or Reserve Bank of India. This governing body took over the reasonability of formally regulating the Indian banks in 1935.The Reserve Bank of India was announced as the official underlying Banking Authority for the smooth supervision of the banking industry in India. Banks in India are classified into 2 broad c ategories namely, universe sector banks and Private sector banks. The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the cost, determined by revenue minus profit model. This means that all the resources should be put ond efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks foc partd on the revenue model which is equal to cost plus profit.Post the banking reforms, banks shifted their approach to the profit model, which meant that banks aimed at high profit maximization. TheHistory of bankingin India dates back to the early half of the 18th century. 3 Presidency Banks that were established in the country namely the Bank of Hindustan, Bank of Madras and Bank of Bombay can also be referred to as some of the oldest banking institutions in the country. The State Bank of India that was earlier known as the Bank of Bengal is also one of the oldest in the genre. To know about the types of banks in India, it is necessary that we first comprehend the banking system so as to be able to distinguish about its various types.Alltypes of Banks in Indiaare regulated and the activities monitored by a standard bank called the Reserve Bank of India that stands at the extremum of the banking structure. It is also called the Central Bank, as major(ip) banking decisions are taken at this level. The other types of banks in India are placed below this bank in the hierarchy. The major types of banks in India are as follows pic domain sector banks in India All government owned banks fall in this variety. Besides the Reserve Bank of India, the State Bank of India and its associate banks and about 20 nationalized banks, all comprises of the public sector banks. Many of the regional rural banks that are blooded by the government banks can also be clubbed in this genre.Banks such as State Bank of India, Bank of Baroda, Syndicate Bank and Canara Bank are known as normal sector banks. customary sector banks are controlled and managed by the Government of India. Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services. The banking sector in India is mostly dominated by the Public sector banks. The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown remarkable growth over the last five four decades. Allahabad Bank was the first fully owned Indian bank. It was founded in the year 1865. Private sector banks in IndiaA new wave in the banking industry came about with the private sector banks in India. With policies on liberalization being generously taken up, these private banks were established in the country that also contributed heavily towards the growth of the economy and also offering numero us services to its clients. Some of the most popular banks in this genre are Axis Bank, Bank of Rajasthan, Catholic Syrian Bank, Federal Bank, HDFC Bank, ICICI Bank, ING Vysya Bank, Kotak Mahindra Bank and SBI Commercial and multinational Bank. The Foreign Banks in India like HSBC, Citibank, and Standard Chartered bank etc can also be clubbed here. Private Banks are banks like HDFC bank, ICICI Bank, UTI bank and IDBI bank.The concept of private banking was introduced about 15 years ago. These are the banks that do non have any government stakes. Private Banks have gained quite a strong foothold in the Indian banking industry over the last few years especially beca engagement of favorimum use of technology. The Private Banks are accountable for a share of 18. 2 percent of the Indian banking industry. IndusInd Bank was the first private bank in India. Currently the bank is among the fastest growing Bank Private Banks in the country. IDBI which is ranked as the tenth largest global development bank is counted as one of the finest financial institutions in the subcontinent. List of Public sector and Private sector banks in India Public Sector Banks Private Sector Banks Bank of Baroda Bank of Rajasthan Allahabad Bank Catholic Syrian Bank Central Bank of India Bank of Punjab State Bank of Patiala Dhanlakshmi Bank Andhra Bank HDFC Bank Canara Bank Karur Vysya Bank State Bank of Hyderabad ING Vysya Bank oriental person Bank of Commerce Laxmi Vilas Bank Dena Bank Karnataka Bank State Bank of Mysore South Indian Bank State Bank of Indore United western Bank UCO Bank UTI Bank Vijaya Bank Centurion Bank Syndicate Bank City Union Bank State Bank of India learning Credit Bank Bank of India Federal Bank lodge Bank ICICI Bank Indian Bank IndusInd Bank Union Bank of India Jammu & Kashmir Bank Punjab National Bank- State Bank of Bikaner and Jaipur State Bank of Travan sum total Bank of Baroda Comparison between Private and Public Sector B anksThe Private sector banks introduced the concept of online banking in India. This was mostly because the private banks were technologically well equipped. Online banking is extremely common right away since you can sit anywhere and go ahead with your banking transactions. You do not have to personally visit your bank. The Private sector banks were victimisation state of the art technology and fully com markerized systems since the time they entered the Indian market whereas the Public sector banks were not. However despite the technological challenges the public sector banks in India are still the preferred destinations for many a(prenominal) as they are considered as safer options for money deposit.Cooperative banks in India With the aim to particularisedally cater to the rural population, the co-op banks in India were set up through the country. Issues like agricultural credit and the likes are taken care of by these banks. Opportunities in the Indian Banking Sector In the five decades since independence, the Indian banking system has evolved through four explicit phases. The major reform took place in the fourth phase, with the recommendations of Narasimham Committee (1991). The important initiatives that were introduced were the provisioning and capital adequacy, deregulation of interest rates and easing of norms to enter the banking sector.Further, the conjugation and acquisition in the sector depart add a new growth dimension, as it would create 3 -4 global sized banks. The front man of these banks will help the country to attract foreign direct investments, which in turn will drive the future growth in the Indian Banking sector. The report titled Opportunities in the Indian Banking Sector provides a silicon chip and comprehensive abridgment of the current status and overall growth prospects of the Indian banking industry. The report provides an brainstorm into the use of Information Technology in the sector and the impact of the Union Bud specify 2010-11 on the growth of the sector. The research presents a detailed PEST analysis of the industry which is substantiated with key findings.The report aims to look into the opportunities that have been created in the industry in the areas of pension fund, rural banking and e banking. moreover, the research also explains the impact of the Basel 3 norms on the functioning of the Indian Banks. Opportunities in the Indian Banking Sector is an outcome of comprehensive research and analysis of the Indian Banking sector. The team has also mapped the competitive landscape of the sector and attempt to shed light on the operations/strategies of the key players. Thus, the information unattached in the report is expected to enable the tar bother audience in understanding the contemporary industry scenario. Key findings in the report include The Indian banking industry has been able to sustain the global economic crisis oft better than other developing countries due to its robust capital structure. The slaying of Basel 3 norms will make it more immune to crisis and will refuge the banking industry against market risk, interest rate risk and operational risk. Moreover, the fundament of capital buffer will provide a cushion for periods of latent hostility and will not lead to situations of insolvency. In a major move, undertaken by RBI to elevate financial inclusion in the country, additional branch licenses will be granted to private sector banks and NBFCs. This will push assist to ease the entry norms in the industry and attract new players.Additionally, the setting up of new branches will help in extending banking products and services to remote areas of the country. A paradigm shift in the banking system has been witnessed with the use of information technology for implementation of total banking automation. Various software companies are launching software application packages for banks. For instance, Infosys has rolled out Finnacle which a core ban king software, designed to offer solutions for e banking, CRM for requirements of retail, bodied and universal roast banking and core banking. Moreover, with the intromission of interbank mobile payment service by The National Payment Corporation of India, the retail nodes can now avail 24*7 fund transfers.History of Bank of Barodapic pic About Bank of Baroda A saga of vision and enterprise It has been a long and eventful journey of almost a century across 25 countries. Starting in 1908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance. It is a story scripted in corporate wisdom and amicable pride. It is a story crafted in private capital, luxurious patronage and state ownership. It is a story of ordinary bankers and their extraordinary contribution in the ascent of Bank of Baroda to the formidable heights of corporate glory.It is a story that involve to be shared with all those millions of people nodes, stakeholders, employees & the public at large who in ample measure, have contributed to the making of an institution. Our mission statement To be a top ranking National Bank of International Standards committed to augmenting stake holders value through concern, care and competence. Our logo Our new logo is a unique representation of a universal image. It comprises dual B letterforms that hold the rays of the rising sun. We call this the Baroda Sun. The sun is an magnificent 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 forgather.At Bank of Baroda, we seek to be the source that will help all our stakeholders visualise their goals. To our clients, 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 i nvestors and line of descent partners, maximum return on their investment. The single-colour, compelling vermillion palette has been carefully chosen, for its strong point as it stands for hope and energy. We also recognize that our bank is characterized by diversity. Our network of branches spans geographical and cultural boundaries and rural-urban divides. Our customers come from a wide spectrum of industries and backgrounds.The Baroda Sun is a fitting face for our brand because it is a universal symbol of oomph and optimism it is meaningful for our many audiences and easily decoded by all. Our new corporate brand identity is much more than a cosmetic change. It is a sign up 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. The in heritance It all started with a visionary Maharajas uncanny foresight into the future of trade and enterprising in his country.On 20th July 1908, under the Companies Act of 1897, and with a compensable up capital of Rs 10 Lacs started the legend that has now translated into a strong, honest 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 contiguous territories. 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 carte du jourinal philosophy was over years of its existence, to become its deepgest 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. The Heroes No history is complete without mention of its heroes, mostly ordinary people, who turn in extra-ordinary performances and contribute to building an institution.Over the years, there have been thousands of such people. The Bank salutes these unknown soldiers who passionately helped to create the legend of Bank of Baroda. There were also the leaders, both corporate and royal, who provided the vision and guided the Bank through trail fulgurou s years, and departing, leftover behind foot suckers on the sands of time. This Roll of Honor will be incomplete without mention of men, of the stature ofMaharaja Sayajirao Gaekwad, Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi. Bank of Baroda salutes these leaders whose vision helped to create an institution. Offices and branches pic picShower of demonstrates & Accolades On Bank Of Baroda ? Bank of Baroda receives Skoch Award ? Bank of Baroda bags Bank of the year 2010 (for India) ? Bank of Baroda has bagged three awards from Association of stock Communicators of India in an award function held at Mumbai. ? Bank of Baroda has been conferred upon Best Bank 2010 award by the prestigious financial magazine, Business India in mention of its consistent performance ? Bank of Baroda has been conferred upon Silver Award by Dainik Bhaskar group (DNA) ? Bank of Baroda has been awarded with prestigious Dalal Street- DSIJ PSU Award. ? CMD Shri M . D. Mallya is seen receiving the Skoch Challenger Award from Dr. C.Rangarajan, Honble Chairman, Economic Advisory Council to the Prime Minister. ? Association of Business Communicators of India gives awards every year in various categories of Business Communication. Bank of Baroda got the Gold swag for the Indian Language Publication, Silver Trophy for the Corporate Website of the Bank, Bronze trophy for Bilingual Internal Magazine and CMDs message. The Awards were received by Smt. Vindhya Ramesh, Dy. General Manager along with team members in an award function held in Mumbai. ? Shri Nandan Srivastava, General Manager in-charge (Official Language) receiving the prestigious millenary National Rajbhasha Shield constituted by National Hindi honorary society Bank of Baroda has been conferred Bank of the year Award at India Leadership confederacy held in Delhi. ? Bank has won award for the leading Public Sector Bank in Global Business Development category at the Dun & Bradstreet Banki ng Awards 2009, held in Mumbai, on wednesday 18th February 2009. Journey from 1908 to 2009 1908-1958 ? 1908 Maharaja Sayajirao Gaekwad deuce-ace set up Bank of Baroda ( sorrel). ? 1910 dog established its first branch in Ahmadabad. ? 1953 BOB established a branch in Mombasa and another(prenominal) in Kampala. ? 1954 BOB undecided a branch in Nairobi. ? 1956 BOB assailable a branch in Dar-es-Salaam. ? 1957 BOB established a branch in London. ? 1959 BOB acquired Hind Bank. 1960s-1970 1961 Merger of New Citizen Bank of India with BOB helped it increase its branch network in Maharashtra. ? BOB also opened a branch in Fiji ? 1962 BOB opened a branch in Mauritius. ? 1963 BOB acquired Surat Banking Corporation in Surat, Gujarat. ? 1964 BOB acquired two banks, Umbergaon Peoples Bank in southern Gujarat and Tamil Nadu Central Bank in Tamil Nadu state. ? 1964 BOB lost its branch in Narayanjanj (East Pakistan) due to the Indo-Pakistan war. It is unclear when BOB had opened the branch. ? 19 65 BOB opened a branch in Guyana. ? 1967 The Tanzanian government nationalized BOBs three branches there and transferred their operations to the Tanzanian government-owned National Banking Corporation. 1969 The Government of India nationalized 14 top banks, including BOB. BOB incorporated its operations in Uganda as a 51% subsidiary, with the government owning the rest. 2000s ? 2000 BOB established Bank of Baroda (Botswana). ? 2002 BOB acquired Benares State Bank in Benares at the Reserve Bank of Indias ask. ? 2002 Bank of Baroda (Uganda) was listed on the Uganda Securities Exchange (USE). ? 2003 BOB opened an OBU in Mumbai. ? 2004 BOB acquired the failed Gujarat Local field of honor Bank, and returned to Tanzania by establishing a subsidiary in Dar-es-Salaam. ? BOB also opened a representative office each in Kuala Lumpur, Malaysia, and Guangdong, PRC. 2005 The Reserve Bank of India (RBI), has approved a joint venture between BOB, Bank of Maharashtra (BOM), and oriental person Ban k of Commerce (OBC) to set up a bank in Malaysia. The new bank will reside in Kuala Lumpur, which has a large population of Indians. The initial capital compulsory will be US$78 million BOB will invest 40%, and the other two banks will invest 30% each. The JV is awaiting approval from the Malayan Central Bank. Bank has built and commissioned its own State-of-the-Art Global Data Centre (DC) in Mumbai for running its centralized banking solution(CBS) and other applications in 1900+ branches across India and 20 other counties where the Bank is operating. ? BOB also opened a representative office in Thailand. ? 2006 BOB established an inshore Banking Unit (OBU) in Singapore. 2007 In its centenary year, BOBs total business track 2. 09 lakh crores, its branches crossed 1000, and its global customer base 29 million people. ? 2008 BOB opened a branch in Guangzhou, China (02/08/2008). ? 2009 Bank of Baroda registered with the Reserve Bank of New Zealand, enabling it to trade as a bank in New Zealand (2009/09/01) Personal Banking Services Bank of Barodabelieves in the strength and integrity of relationships built with its customers like you. With over 102 years of experience in the banking industry and a wide network of over 3412 branchesall over the country, we have always been active in extending financial support and adapting to your changing needs.BanksDeposit Products,Retail gives,Credit control panelsand calculate lineupshelp you with your growing financial needs. With facilities likeLockerswe ensure that your valuables are safe with us. BOBs countrywide branches offer gadget and ease in operating ones account wherever they are. BOBs 24-hour ATMs enable to withdraw property, check account balance and request for a new tick book even after banking hours. instant(prenominal) technology for better service Baroda Internet Banking / Baroda Mobile Banking, our latest Internet and Mobile banking initiatives enable you to operate your account just as you would in any of our branches. You can through the Internet check your balance, request for handicap books and print account details.Choose from our various products and services, that we sincerely feel will put a smile on your face an investment we would like to bank on forever. Deposits Bank of Barodaoffers various deposit plans that you can choose from depending on the term period, nature of deposit and its unique saving and withdrawal features. asunder from competitive interest rates and satisfied withdrawal options, BOBs deposit plans offer other features such as overdraft facility, outstation cheque collections, safe deposit lockers, ATMs etc. Choose fromFixed,CurrentandSavingsDeposit plans. Fixed deposits are categorized into deposits with a term period of little than 12 months, more than 12 months and recurring deposits.These deposit plans offer convenient solutions to both working individuals as well as senior citizens. Current and saving deposits are ideal for individuals who wish to take advantage of denary benefits within the same plan and even be eligible to opt for overdrafts. Deposit Products & Services Fixed Current Saving Gen Next Services Gen- Next Junior Gen- Next Life style Gen- Next ply Gen- Next Suvidha Retail imparts A wide range of solutions for your financial needs Bank of Barodaoffers a wide range of retail loans to meet your assorted needs. Whether the need is for a new house, childs education, purchase of a new car or home appliances, BOBs unique and need specific loans will enable his/her to convert dreams to realities. Products Home Loan Home amelioration Loan Loan Against Future Rent Receivables Advance Against Securities Baroda Career Development Loan Two Wheeler Loan Traders Loan Baroda Ashray Home Loan TO NRIs/PIOs Mortgage Loan Education Loan Auto Loan Loan To Doctors Personal Loan debit entry tease apart TheBank of Baroda International debit Cardis accepted at over50000 Visa negat ron ATMs in India and 1000000 ATMs worldwide. The flier is also accepted at any 350000 merchant outlets in India and around 29 millions globally.The brain enables you to enjoy the convenience of coin-less get power without the fear of overdrawing your account Key Benefits and Features ATM passing(a) cash withdrawal limit Rs 25,000 (per transaction limit Rs. 15,000) and Point of Sales (POS) daily limit Rs. 50,000. Take advantage of the most widely accepted board and be able to withdraw from any ATM displaying the VISA logo, in India and abroad. At VISA Electron merchant shops, it can also serve as your electronic purse, and money gets debited without delay from your account, as you pay. The Card allows you to get mini-statements from Bank of Baroda ATMs, or to check the balance in your account, avoiding visits to even our close branches. Whats a calculate Card? A debit gameboard is issued to an account and posting holder uses the ca rd the debit transaction is directly bear on to his/her account to the extent of balance functional. Whereas in credit card there is no need of account but a credit confine is granted up to which one can spend. How Does a calculate Card Work? When you use a debit card, the linked account is study for the balance availability and the transaction debits (withdraws) the amount from the linked account, immediately.You can use a debit card to get cash fromATM machinesor have it swiped like a credit card at shops or restaurants or swipe it through a pay phone to make a call. Making a Travel Budget With a debit Card Naturally, you cant rely on your debit card for all your international transactions imagine haggling with a street vendor, getting the price right and then trying to give him/her plastic Remote hostels and many restaurants in third world countries dont accept credit cards (which is how debit cards are viewed in the business world).Thus, youll need to make figur e plans before you set off home so that you have travelers checks and cashandsome money in your checking account for use on your debit card. Lets mount you have a budget of $2000 for your trip. Decide how youre comfortable splitting that into the way youll use it $100 in travelers checks (although travelers checks are dead as disco, because carrying them is a pain on several levels weve had banks in other countries refuse to cash them, weve lost them, etc. and so on), $400 in cash and $1500 left in your checking account, for example thats $1500 on your debit card. If that $2000 represents your entire cash portfolio, consider setting up emergency precautions before you leave home.If someone, like Dad, is volition to loan you money, leave deposit slips with him so that if you spend all your money abroad, you can dial for dollars (using your debit card) and he can get some money into your account. If your debit card (your checking account) is almost empty, ask him to tel l the bank to memo post the deposit so that the cash is immediately available and your debit card is quickly back in business. How to Get a Debit Card Chances are you were automatically offered a debit card when you opened your checking account. If you dont have a checking account, go open one now.Look for a bank that doesnt charge checking account fees, and ask for a debit card. It takes a few days to two weeks to get a debit card after you order it. When the card arrives, sign the back have image id with your signature handy when you use the card merchants may want to compare your face and your signatures to protect themselves from fraud. How to Choose a Debit Card nightfall Number Your debit card comes with a gloaming (personal identification number) which can be changed to a number you can easily remember. Memorize it if you have to write it down, keep that separate from your card.Dont choose an obvious number, like your birthday, in order to lessen the chances o f someone else being able to guess your stick number if they come into possession of your card. If You Lose Your Debit Card If your card is lost or stolen, call your bank a sap (Skypes a good, cheap choice for international calls from anywhere you can find a computer) before someone else spends your money. Write down your banks number before you leave home and keep it in a couple of places your journal, your guidebook. Set up aninternational snail mail address before you leave home so your bank can send you a different card if yours does get lost or stolen. When to Use Your Debit Card Debit cards are handy when making a long travelness room reservation or any internet reservation, including plane tickets. You cant use a debit card just like a credit card when renting a car the companies require a major credit card, which offer a certain amount of insurance in drive you have a fender bender. About Debit Card Fees and Overseas Transaction Fees International ATM machines will charge a feewhen you use your debit card the amount is determined by the ATM owner. Most fees are under $5 a greenback on the ATM machine will tell you what the fee is. More than $2 is too much look for another ATM machine. The real fee problem with a debit card comes from your own bank the card issuer may charge you up to 3 percent for a foreign transaction, including an ATM withdrawal. Call your bank long before you go if you dont like the fee, call around and ask what other banks are charging for foreign transactions make with a debit card be sure to ask what, if any, fees the bank will charge for an ATM withdrawal make on foreign soil, even at an international bank. Bank Of Baroda Debit Card What is a debit card? Debit Card is an electronic purse, which allows the holder to withdraw cash from ATMs and also enables him to purchase goods or services from the member establishments. Debit Cards are mostly issued in collaboratio nism any with VISA or MASTER Card. What is Bank of Barodas Debit Card? Bank is issuing globally accepted Debit Card in association with VISA, which will be the easiest way to access customers account. A debit card will allow the customer to purchase goods at VISA Electron merchant establishments and withdraw property from any VISA ATM in India and abroad. It is a 24 hours banking facility. What is the difference between a Debit Card and a Credit Card? The basic difference between a Debit Card and a Credit Card is that the Debit Card gives the customer access to his own money whereas the credit card is a form of loan and allows line of credit offered by the Bank. As in case of Debit Card, there will be on line debit to the customers account, there are no hassle of receiving bills, making payments on due dates, making payment of interest on the amount not nonrecreational etc. What is the advantage of a debit card? The debit card provides tremendous convenience in payments and helps the customers reduce the amount of cash they need to carry. Besides that customer always stays in control of his pecuniary resource as he can spend only what he has in his account. It also gives an unparalleled access to his account, whenever he wants, wherever he goes. No Interest / service Charges Suits to the Indian psyche of limited expenditure. Debit card is not included in the list of Compulsory Income Tax retrovert Filing. Usable at POS and hence no carry cash equal Card usable at ATMs Will customers be entitled to get an additional card in case of joint accounts? All the joint account holders, if the operating instructions in the account are both or survivor, are eligible to get an additional card in his/her own name. What are the charges for issuing of a Debit Card? There are no charges for issuing a debit card. What should customer do on know of DEBIT CARD? clients are rede to immediately sign on the panel on the back of the Card. However, to keep any possible maltreat, even before delivery of Card to customer, it has been made mandatory that Customer should first use the Card at ATM, which requires evenfall to be entered..Debit Card will be activated for use at POS only after it is used at ATM. What is PIN? PIN is a FOUR Digits Personal Identification Number, which is issued to the customer in a closed(a) Jacket and is delivered to him separately. Customers are requested to ensure that PIN jacket is received by them INTACT and they are also requested to change his PIN immediately. Under no circumstance, PIN should be divulged to anyone including to any official from the Bank. Where will Bank Of Baroda Debit Card be accepted? TheBank of Baroda International Debit Cardis accepted at over 32000 Visa Electron ATMs in India and 1000000 ATMs worldwide.The card is also accepted at any 350000 merchant outlets in India and around 29 millions globally. The card enables you to enjoy the convenience of cash-less purc hasing power without the fear of overdrawing your account. What are the facilities available at ATMs? At BANK OF BARODAs ATM network, Customer will be able to withdraw Cash, make a balance enquiry, change his PIN and print a mini statement of his account. However, at all other banks ATMs he will be able to withdraw cash and enquire the balance only. Whether there are any charges for using CARD at ATMs? There will not be any charges for using the Card at Bank of Barodas own ATM network.However, if the Card is used at other banks ATM, whether in India or abroad, customer is required to pay the charges as per tariff of charges, which will be declared by the Bank from time to time. And what about charges for using the Card at POS? There will not be any charge for using the Card at the POS, either in India or abroad except a nominal service charge is levied if the card is used at Petrol Pumps and Indian railways. How the amounts withdrawn abroad or purchases made outside India are debited into the account? ordinarily the Cash can be withdrawn and payments for purchases can be made upto the amount of balance available in the account of the customer.However, for safety reasons Bank has fixed PER DAY limit of Rs 15000/- for withdrawing the Cash at ATMs and Rs 25000/- for making purchases at the POS, subject to maximum of balance available in SB account. These limits are also subject to using the card MAXIMUM of FOUR quantify in a day. Are any formalities required to be completed by the Bank for international transactions? NO, the customer is required to use the Card as per his foreign exchange entitlements only and necessary formalities as required under FEMA 1999 are to be complied with by the customer. What will be the mode of payment in case of a Debit Card? The account of the customer will be debited instantly to the extent of purchases made and amount withdrawn from the ATMs. Therefore, there will not be any monthly outstanding as in case of Credit Cards. If customer returns the goods to POS or cancel the transactions, will his account be credited online? In case he cancels the transaction immediately, customers account will be credited immediately. However if any customer returns the goods later, merchant will make the payment to our Base branch through acquirer. Switch will pass on the credit to customers account thereafter. What is the procedure to be followed in case of departure of Debit Card? In case of loss of card, customer will be required to report the loss IMMEDIATELY over phone to our 24 hours Customer Care Toll free number 1800 220 400. He will also be required to report the loss to nearest law of nature station and inform the Bank in writing along with a copy of information duly acknowledged by the Police. When will the customer get replacement card in lieu of lost one? Replacement card will be issued to customer after receipt of above information and a request for issuing of replacement car d from the base branch of the customer. How can Customer prevent vituperate of card in event of getting it misplaced? Customers are protected from the misuse/losses on the Debit Card after they report the loss to the Bank. They will be covered automatically under an insurance cover. enthral note that this cover will be available to customers only for misuse of card atPOS, because at ATM misuse without PIN is not possible. Customer is neither supposed to divulge his PIN to anyone nor record the PIN anywhere. pic SWOT Analysis SWOT ANALYSIS STRENGTH ? Financially strong bank ? Very old bank ? Aggressive marketing ? Good repo ? scientific advanced WEAKNESS ? Guidelines are not flexible ? Power is not decentralized OPPORTUNITIES ? New area is developing. So, there is vast chance for lodgement loan. ? Guidelines to be designed in such a way that needs of the all type of prospective borrowers should be fulfilled. THREATS ? This is the nationalized bank so, competition may be with private banks ?Aggressive marketing strategies by private banks ? entranceway of foreign banks in near future. pic Findings and Research Methodology Findings Q. 1. Are you a customer of BOB? pic rendition- Around 91. 60% are Bank of Baroda customer, because these surveys are conducted in various branches of BOB only. So majority are customer of BOB. Q. 2. Which type of A/C do you maintain? pic Interpretation- According to survey there are majority of respondent are maintaining saving account. Its very easy to maintain and also only 1000Rs. are required for opening these type of account. Q. 3. How long are you banking with BOB? pic Interpretation-According to total respondent 29 respondent are banking with Bank of Baroda lies between 1-5 years and 26 respondent are banking with BOB more than 5 years. Q. 4. Which of the following facilities of BOB you use? pic Interpretation- According to respondent 40 customer are using ATM/Debit Card and 18 customer are using Net banking. These sh ow those customers are using ATM/Debit card facilities more than other facilities. Q. 5. How often do you use AMT/Debit card? pic Q. 6. What purpose you are using AMT/Debit card? pic Q. 7. Select the type of Baroda Connect a/c you use? Q. 8. How did you come to know about Baroda Connect? pic Q. 9.Which of the following do you use in Baroda Connect facility? pic Q. 10. How frequently do you use Baroda Connect (net banking facility)? pic Q. 11. Select some of the benefits of using Baroda Connect? pic Q. 12. Do you have demate A/C? pic Q. 13. Satisfaction level of using ATM/Debit card pic Q. 14. Satisfaction level of using Baroda Connect (Net Banking) pic Q. 15. How frequently do you visit the branch? pic Q. 16. What are purpose of visiting the brand? pic Personal Detail- ? Gender- pic ? Education- pic ? Monthly Income (Rs. )- pic Research & Development existing COLLECTION OF DATA Data sources The sources of data include either supplemental data or primitive data and even ome times the junto of both. The present study is more concentration on both primary and secondary data. Primary data Primary data is collected through face-to face moveion with customers of the telecom companies, by meeting them in personal. vicarious data The secondary data used for their study are comprehensive of the data collected from the internet, catalogues and brochure. SAMPLING PLAN 1 Define nation ? Elements Customers ? taste Units Businessmen, Professional, House wives, Students. ? Extent West, North, South, East 2 Sampling drift ? Various Branches of Bank of Baroda, Ahmedabad city. 3 Sampling Method ? Random Sampling METHODOLOGYThe study will conduct on the bases of survey through questionnaires given to respondents. Sampling Design Population Ahmadabad Sample Size Population of 60 LEARNINGS The most important part is that they make me feel employee of the organization earlier than a trainee and allow me to flourish in each and every department. They were so generous to m e that at any mistake, rather scolding they taught me how to correct it & allow me to learn from that mistake. Learning include, 1. Overview of the banking industry & their operation 2. Deep Knowledge of ATM/Debit Cards 3. Familiar with third party Products and Alternative delivery Channels 4. Gain knowledge of loan 5.Proposals that the bank has approved for the disbursal of loan 6. Working on CRISIL and learning some of its function 7. The most important learning of CIBIL& how to learn this CIBIL 8. Knowledge & functioning of LAPS software 9. Also Updated with SME Loans, City back offices, Service branch, MICR centre. 10. How to come out from the different problems & how to interact with customer. 11. Awareness of FINACLE software. Experience at Bank of Baroda I would like to close my project with a feeling of having gained enormous knowledge in the field of advances. My project has taught me a lot and has helped me sharpen my management skills for application aspect.I had ratt ling(prenominal) experience for which I am greatly thankful to the entire staff of BOB who have continuously taught me by guiding in each and every step. It was a memorable experience of working in such a lively & dedicated atmosphere. Not to forget to mention that my two months training has removed my misconceptions regarding the working of public sector bank. Lastly, I would bring to an end it was such a memorable experience for me to be a part of BOB. Thanks a lot to all staff members of BOB for such a good co-operation. BIBILIOGRAPHY ? www. bankofbaroda. com ? www. google. com ? http//www. ibef. org/industry/Banking. aspx ? www. cibil. com ? www. crisil. com pic pic