Bank of Baroda — 10 Interesting Facts To Know About

A nationalised bank, the Bank of Baroda is governed by the Reserve Bank of India

and the Government of India. Gujarat’s Vadodara is home to the company’s

headquarters. It is currently ranked as the fourth-largest banking partnership.

It was initially established in 1908 and has since greatly increased its clientele. With 132

million customers, a US$218 billion in annual revenue, and a global footprint of 100

abroad offices, it is the second-largest PSB in India after SBI.

It is included on Forbes Global 2000 at position 1145 as of 2019 statistics. It offers several essential services like card services, customer support, and online banking that are popular with the general public.

Facts about Bank of Baroda:

1. The bank, along with 13 other central Indian commercial banks, was

nationalised by the Indian government on July 19, 1969, and is now

considered a profitable public sector enterprise PSU. The State Bank of India

is the highest ranked bank, closely followed by the Bank of Baroda at number

four. Then-princely kingdom of Baroda, Gujarat was established in 1908

by the ruler Sayajirao Gaekwad III.

2. Bank of Baroda was founded by Maharaja Sayajirao Gaekwad on 20th July

1908. After two years, the Bank of Baroda opened its first branch in the

Gujarat city of Ahmedabad. Tagline – India’s International Bank – More than

100 branches in 24 countries.

3. A particular interpretation of a symbol. It is made up of two ‘B’ letterforms,

each with the sun’s rising rays. This is known as the Baroda Sun. The sun is a

great metaphor for what our bank represents. It is the single most potent

source of energy and light, and its radiance illuminates everything it touches

by banishing darkness. Bank of Baroda aims to be the resource that enables all

of our stakeholders to achieve their objectives. It aims to be its clients’ go-to,

trustworthy partner who can assist them with a variety of financial issues

4. Bank of Baroda got a new citizen bank of India in 1961. It helps to expand the

network in Maharashtra. Bank of Baroda established its first international

branch in Guyana on the North Atlantic Coast of South America in 1965. Bank

of Baroda was nationalised in the year 1969. Bank of Baroda has 8214

branches across India as of the year 2020. More than 85,000 employees are

working in Bank of Baroda

5. Bank of Baroda offers services like net banking, card services, withdrawals,

and deposits, just like many other nationalised banks. Net banking

transactions are approved and carried out over the internet’s gateway under

the jurisdiction of the Bank of Baroda. On the Bank of Baroda website, under

the net banking section, services like RTGS and NEFT are conveniently

available. Baroda Connect is the name of Bank of Baroda’s online banking

Platform.

6. Customers can withdraw money, make deposits, or continue their

transactions on this website at any time, around-the-clock, from the comfort of

their homes. This lessens the need to wait in line for a long time, especially

during the heat, which is bad for many people’s health. Seniors and people

with disabilities can more easily complete their transactions while staying

linked to the banks and without experiencing any difficulty thanks to the net

banking capability.

7. Cards are offered to consumers by Bank of Baroda just like other banks. These

cards are available in a wide variety, with each having a different credit limit

and more appealing incentives like reward points on each transaction. They

are therefore excellent to possess and providing clients with a variety of

Options.

8. For railway employees, there are specific BOB cards that let them take

advantage of extra perks while travelling by train. Large organisations find it

appealing because they have BOB cards for corporate offices.

9. The Bank of Baroda website also includes all contact information, including

phone numbers and email addresses for the bank’s customer service

department. The website not only lists the customer service information, but it also offers a section with a list of the phone numbers for their international branches and you can even find the IFSC code of Bank of Baroda for various branches.

10. One important aspect of their customer service is the promptness of their responses, and their toll-free line is available around-the-clock. Customers frequently share with others that

they frequently receive responses to their emails sent to customer service within two days or less. As a result, the bank’s the customer base can grow.

Conclusion:

In a developing country like India, the banking industry is critical to the progress of the

economy. Banks make loans to both commercial and agricultural players. 

Because peasants and farmers continued to rely on money lenders, the fact that the country’s major banks were privately held throughout independence caused grave anxiety.





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