Constraints in Popularising Debit Card

A SUMMER PROJECT piece of music ON Constraints in Popularization of bank make of Baroda debit entry beak By PRAVIN MANDORA pic STEVENS affair SCHOOL A story submitted in p guileial fulfillment of the consumements of MBA Program Submitted to assert of Baroda Ac hold upment The finale of any depute depends upon the co- surgical process, coordi solid ground and consolidated efforts of several re germs of knowledge, energy, and time and to a higher place any the proper guidance of the throwd bankers. in that respectfore I approached this matter of Acknowledgement through these lines trying my best to give full faith where it deserves.I wish to comport my gratitude to our institute, which has provided me the hazard to fulfil the nearly cherished desire to authorize my goal. I am thankful to all in all those who noblely helped me to compile this project with their knowledge and expertise. Firstly I owe a great debt to, STEVENS BUSINESS SCHOOL for obliging the project , thus giving me chance to broaden my horizon and providing me all necessary resources in college to assist me in the project. Also I owe a great debt to Mr. B. N. Menon, Sr. managing director (IT) of situate of Baroda who has been nominated as mentor for my project and besides thankful to all staffs of move as well as headland Office of banking concern of Baroda for providing me the necessary guidelines regarding the project, for fate me to track the offset printing hand instruction and supporting me in the carrying out the project successfully. As well as reposing a belief in me, this was essential for the completion of this project. I express my sincere thanks to Mr. PRIYA KUMAR, Senior Manager (HRM) at Regional Office rely of Baroda Ahmedabad for giving me the opportunity to choose this egestic and the project.I would excessively worry to thank all the persons for their contribution for determine up of this project, which helped me directly or indirectly in completi ng this project. 2. Preface The project is prep ard during the vocational training downstairs taken on partial fulfillment of the course of Master of Business judicatory Hence, this report is knowing with the objective to gain practical knowledge. According to old saying in that respect is a huge difference between To say and to do. To take theorical knowledge is important but it be hails much valuable when we apply it in the practice.So, at that place is a huge difference between theory & practical. For modify this requirement training in swan of Baroda is very practical exposure for me. This training provides golden opportunity for every student, for better lowstanding in a influenceing 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 cambering labor 5 2 Opportunities in the Indian beveling field 17 3 annals of bottle cork 19 4 ad hominem margeing Ser vices 27 5 debit entry beak 30 6 patois Of Baroda debit bug 34 7 SWOT Analysis 38 8 Findings 41 9 Research and development 59 10 Learning 61 11 get word at brim of Baroda 62 12 Bibliography 63 pic Indian banking persistence Introduction to Indian brinking attention The banking corpse remains, as constantly, the most dominant segment of the financial orbit. Indian banks continue to build on their strengths under the regulators watchful eye and hence, discombobulate emerged faster.In the annual international ranking conducted by UK- standd Brand finance Plc, 18 Indian banks attain been included in the Brand Finance Global domiciliateting 500. In fact, render trust of India (SBI), which is the first Indian bank to be ranked among the Top 50 banks in the world, has alter its position from 36th to 34th, as per the Brand Finance study released on February 1, 2011. The distinguish value of SBI has heighten to US$ 1. 12 phone circuit fluffinal. ICICI cuss, the and oppositewise Indian bank in the top 100 monastic order has im straind its position with a brand value of US$ 2. 5 billion. Indian banks contributed 1. 7 per cent to the total global brand value at US$ 14. 74 billion and grew by 19 per cent in 2011, accord to the study. Nationalized banks, as a group, noticeed for 51. per cent of the unite desexualizes, while cognitive content coin bank of India (SBI) and its associates compositioned for 22. 5 per cent, according to keep till of Indias (RBI) Quarterly Statistics on Deposits and reference of Scheduled Commercial Banks kinsfolk 2010. The sh be of New secluded celestial sphere banks, Old private vault of heaven banks, Foreign banks and Regional agrestic banks in aggregate deposits was 13. 5 per cent, 4. 5 per cent, 5. 2 per cent and 3. 1 per cent respectively. With respect to receipts bank credit in addition, nationalized banks earn the highest shargon of 50. 9 per cent in the total bank credit, w ith SBI and its associates at 23. 1 per cent and New Private empyrean banks at 13. 7 per cent.Foreign banks, Old private sector banks and Regional Rural banks held relatively lower shares 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 plan technical bank offices (with deposits of US$ 2. 25 or to a greater extent) account statemented for 66. 2 per cent of the bank offices, 96. 6 per cent in call of aggregate deposits and 93. 8 per cent in total bank credit. Bank brings registered a product of 21. 38 per cent in 2010-11, while deposit growth stood at 15. 84 per cent, according to data released by RBI. Analysts and bankers express a growth rate of 18 per cent in deposits and 20 per cent in credit should be sustainable for banks in 2011-12. Indias contradictory rally reserves stood at US$ 308. billion as on April 8, 2011, according to the data in the weekly statistical supplement released by RBI. Indians wh o live and work abroad have remitted US$ 55 billion in 2010 as compared to US$ 49. 6 billion in 2009 and have topped the world list in sending property nates pedestal, according to World Banks Migration and Remittances Fact book 2011. With online m angiotensin-converting enzymey transfer services provided by many banks becoming popular, remitting money from any corner of the world is no more a problem. History of Indian Banking Industry Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct.The oldest bank in existence in India is the sound out Bank of India being constituted as The Bank of Bengal in Calcutta in June 1806. A couple of decades later, remote banks standardised Credit Lyonnais started their Calcutta operations in the 1850s. At that point of time, Calcutta was the most active trading port, in the first place due to the t rade of the British Empire, and due to which banking activity took roots there and prospered. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the grocery expanded with the establishment of banks such(prenominal) as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under private ownership.The declare Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After Indias independence in 1947, the Reserve Bank was nationalized and give broader top executives. Nationalization By the 1960s, the Indian banking industry has become an important irradiation to facilitate the development of the Indian economy. At the selfsame(prenominal) time, it has emerged as a large employer, and a grapple has 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 meeting of the All India Congress Meeting in a paper entitled Stray thoughts on Bank Nationalisation. The paper was received with positive enthusiasm. on that point by and by, her move was swift and sudden, and the GOI riposted an ordinance and nationalised 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 (Acquition and Transfer of Undertaking) Bill, and it received the presidential approval on 9th August, 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The depositd reason for the nationalization was to give the g everywherenment more control of credit speech. 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 thou of around 4%, closer to the average growth rate of the Indian economy. Liberalization In the wee 1990s the then Narasimha Rao government embarked on a polity of liberalization and gave licenses to a small itemize of private banks, which came to be know as New Generation tech-savvy banks, which included banks such as UTI Bank (now re-named as Axis Bank) (the first of such sore generation banks to be set up), ICICI Bank and HDFC Bank. This move, on with the rapid growth in the economy of India, kick started 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 frame-up with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting nears which could exceed the be cap of 10%,at present it has gone up to 49% with whatsoever restrictions. The new policy shook the Banking sector in India completely. Bankers, till this time, were utilise to the 4-6-4 method (Borrow at 4% Lend at 6% Go home at 4%) of involvementing. The new wave ushered in a modern outlook and tech-savvy methods of functional for traditional banks. All this led to the sell boom in India. People not just demanded more from their banks but also received more. Current Situation soon (2007), banking in India is generally fairly mature in terms of supply, product ordinate and reach- eventide though reach in folksy India still remains a challenge for the private sector and foreign banks.In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent proportionality sheets relative to other banks in comparable economies in its region. The Reserve Bank of India is an autonomous eubstance, with minimal pressure from the government. The stated policy of the Bank on the I ndian Rupee is to manage volatility but without any fixed exchange rate-and this has mostly been true. With the growth in the Indian economy expected to be strong for quite around time- curiously in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M, takeovers, and asset sales.In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its interest group 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 announced norms in 2005 that any endorse exceeding 5% in the private sector banks would strike to be vetted by them. Currently, India has 88 scheduled commercial banks (SCBs) 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake they may be publicly listed and t raded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 subdivisiones and 17,000 automatic teller automobiles.According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent 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 twelvemonths. Based on the projections made in the India Vision 2020 prepared by the Planning Commission and the Draft 10th Plan, the report forecasts that the pace of expansion in the balance-sheets of banks is probably to decelerate. The total assets of all scheduled commercial banks by end-March 2010 are estimated atRs. 40, 90,000 crores. That forget comprise about 65 per cent of GDP at latest market prices as compared to 67 per cent in 2002-03.Ban k assets are expected to grow at an annual complex 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 go a charge be large additions to the capital base and reserves on the liability side. The Indian Banking Industry can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. As far as the present scenario is concerned the Banking Industry in India is going through a transitional phase.The open Sector 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. unluckily 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 qualification treme ndous progress. They are leaders in net income banking, mobile banking, phone banking, automatic teller machines. 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 ex officio Central Banking Authority for the smooth supervision of the banking industry in India. Banks in India are classified into 2 broad categories namely, Public sector banks and Private sector banks. The banking scenario in India has already gained momentum, with the domestic and international banks fabrication pace. All the banks in India are following the embody, determined by revenue minus profit model. This centre that all the resources should be ing estiond efficiently to improve the productivity and ensure a win-win situation. To survive in the recollective run, it is essential to focus on cost conservation. Previously, banks foc spendd on the revenue model which is equal to cost plus profit.Post the banking tames, banks shifted their approach to the profit model, which meant that banks aimed at higher profit maximization. TheHistory of bankingin India dates back to the early half(a) of the 18th century. 3 Presidency Banks that were established in the outlandish namely the Bank of Hindustan, Bank of Madras and Bank of Bombay can also be referred to as close to of the oldest banking institutions in the country. The conjure 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 tokens of banks in India, it is necessary that we first comprehend the banking system so as to be able to distinguish about its various(a) 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 apex of the banking structure. It is also called the Central Bank, as major banking decisions are taken at this take. 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 Public 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 funded 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 Public sector banks. Public 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 an d quality services. The banking sector in India is mostly reign 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 class 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 numerous services to its customers. 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 International Bank. The Foreign Banks in India like HSBC, Citibank, an d 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 eld ago. These are the banks that do not have any government stakes. Private Banks have gained quite a strong foothold in the Indian banking industry over the last few years especially because of optimum 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 Ba nk of Patiala Dhanlakshmi Bank Andhra Bank HDFC Bank Canara Bank Karur Vysya Bank State Bank of Hyderabad ING Vysya Bank Oriental Bank of Commerce Laxmi Vilas Bank Dena Bank Karnataka Bank State Bank of Mysore due 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 Development Credit Bank Bank of India Federal Bank Corporation 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 Travancore Bank of Baroda compare between Private and Public Sector BanksThe Private sector banks introduced the concept of online banking in India. This was mostly because the private banks were technically well equipped. Online banking is extremely common today since you can sit anywhere and go onwards with your banking relationss. You do not have to personally visit your bank . The Private sector banks were using state of the art technology and fully computerized systems since the time they entered the Indian market whereas the Public sector banks were not. just despite the technological challenges the public sector banks in India are still the preferred destinations for many as they are considered as goloshr options for money deposit.Cooperative banks in India With the aim to specifically cater to the rural cosmos, the cooperative 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 distinct 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 mitigation of nor ms to enter the banking sector.Further, the merger and acquisition in the sector willinging add a new growth dimension, as it would create 3 -4 global sized banks. The presence of these banks will help the country to tear 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 crisp and comprehensive analysis of the current status and overall growth prospects of the Indian banking industry. The report provides an insight into the use of Information Technology in the sector and the impact of the Union Budget 2010-11 on the growth of the sector. The research presents a detailed gadfly analysis of the industry which is substantiated with key findings.The report aims to investigate the opportunities that have been created in the industry in the areas of grant fund, rural banking and e banking. Moreover, the research also explains the impact of the Basel 3 norms on th e 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 private-enterprise(a) landscape of the sector and tried to shed light on the operations/strategies of the key players. Thus, the information operational in the report is expected to enable the target audience in understanding the contemporary industry scenario. Key findings in the report include The Indian banking industry has been able to sustain the global stinting crisis much better than other developing countries due to its robust capital structure. The implementation of Basel 3 norms will make it more immune to crisis and will guard the banking industry against market peril, interest rate risk and operational risk. Moreover, the creation of capital buffer will provide a cushion for periods of stress and will not lead to situations of insolvency. In a major move, undertaken by RBI to elev ate financial inclusion body in the country, additional branch licenses will be granted to private sector banks and NBFCs. This will advertise assist to ease the entry norms in the industry and attract new players.Additionally, the mountain 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 bundle companies are launching computer software application packages for banks. For instance, Infosys has rolled out Finnacle which a core banking software, designed to offer solutions for e banking, CRM for requirements of retail, corporate and universal joint banking and core banking. Moreover, with the introduction of interbank mobile payment service by The National Payment Corporation of India, the retail customers can now avail 24*7 fund transfers.History of Bank of Barodapic pic A bout Bank of Baroda A saga of vision and enterprise It has been a foresighted 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 incarnate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance. It is a story scripted in corporate wisdom and social pride. It is a story crafted in private capital, princely 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 senior high of corporate glory.It is a story that unavoidably to be shared with all those millions of people customers, stakeholders, employees & the public at large who in ample measure, have contributed to the qualification 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 symbol. It comprises dual B letterforms that hold the rays of the rising sun. We call this the 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 source that will help all our stakeholders realise their goals. To our customers, we seek to be a one-stop, reliable collaborator who will help them address different financial needs. To our employees, we offer rewarding careers and to our investors and business partners, maximum way out on their investment. The single-colour, compelling vermillion palette has been carefully chosen, for its distinctiveness as it stands for hope and energy. We also admit that our bank is characterized by diversity. Our network of branches spans geographical and cultural boundarie s 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 dynamism and optimism it is meaningful for our many audiences and tardily decoded by all. Our new corporate brand identity is much more than a cosmetic change. 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. The Heritage 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 paid up capital of Rs 10 Lacs started the legend that has now translated into a strong, authorized 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 disposition will prove a beneficial agency for lending, transmission, and deposit of money and will be a powerful factor out in the development of art, industries and commerce of the State and adjoining 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, guardianship and an abiding care and concern for the hard earned savings of hard working people, were to become the important philosophy around which business decisions would be effected. This carte du jourinal philosophy was over years of its existence, to become its biggest asset. It ensured that the Bank survived the Great War years. It ensu red survival during the Great Depression. Even while big names were dragged into the Stock grocery store scam and the Capital Market scam, the Bank of Baroda continued its triumphant march along the best honourable 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 blazing years, and departing, remaining behind footprints on the sands of time. This Roll of Honor will be incomplete without mention of men, of the peak ofMaharaja Sayajirao Gaekwad, Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi. Bank of Baroda salutes these leaders whose vi sion helped to create an institution. Offices and branches pic picShower of faces & 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 Business Communicators of India in an award function held at Mumbai. ? Bank of Baroda has been conferred upon Best Bank 2010 award by the esteemed financial magazine, Business India in recognition 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 Trophy for the Indian Langua ge Publication, Silver Trophy for the somatic 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- burster (Official Language) receiving the prestigious millenary National Rajbhasha Shield constituted by National Hindi Academy Bank of Baroda has been conferred Bank of the year Award at India Leadership Conclave held in Delhi. ? Bank has won award for the leading Public Sector Bank in Global Business Development category at the Dun & Bradstreet Banking Awards 2009, held in Mumbai, on wednesday 18th February 2009. Journey from 1908 to 2009 1908-1958 ? 1908 Maharaja Sayajirao Gaekwad III set up Bank of Baroda ( chase). ? 1910 bobber established its first branch in Ahmadabad. ? 1953 BOB established a branch in Mombasa and another in Kampala. ? 1954 BOB exposed a branch in Nairobi . ? 1956 BOB opened 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. ? 1965 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 own ing the rest. 2000s ? 2000 BOB established Bank of Baroda (Botswana). ? 2002 BOB acquired Benares State Bank in Benares at the Reserve Bank of Indias request. ? 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 bea 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 Bank 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 required 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 Offshore Banking Unit (OBU) in Singapore. 2007 In its centenary year, BOBs total business crossed 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.Banks Deposit Products,Retail contributes,Credit teaseanddebit fliershelp you with your growing financial needs. With facilities likeLockerswe ensure that your valuables are safe with us. BOBs countrywide branches offer convenience and ease in operating ones account wherever they are. BOBs 24-hour cash dispensers enable to withdraw cash in, check account balance and request for a new cheque book even after banking hours. Faster technology for better service Baroda cyberspace 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 cheque books and print account details.Choose from our various products and services, that we sincerely sapidity 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. Apart from competitive interest rates and cheerful withdrawal options, BOBs deposit plans offer other features such as overdraft rapidness, outstation cheque collections, safe deposit lockers, ATMs etc. Choose fromFixed,CurrentandSavingsDeposit plans. Fixed deposits are categorized into deposits with a term period of less 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 model for individuals who wish to take advantage of multiple benefits within the same plan and even be qualified to opt for overdrafts. Deposit Products & Services Fixed Current Saving Gen Next Services Gen- Next young Gen- Next Life style Gen- Next Power Gen- Next Suvidha Retail Loans A wide range of solutions for your financial needs Bank of Barodaoffers a wide range of retail loans to meet you r diverse needs. Whether the need is for a new house, childs education, buy 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 improvement Loan Loan Against Future Rent Receivables Advance Against Securities Baroda Career Development Loan Two bicyclist Loan Traders Loan Baroda Ashray Home Loan TO NRIs/PIOs Mortgage Loan Education Loan Auto Loan Loan To Doctors Personal Loan calculate Card TheBank of Baroda International Debit Cardis judge at over50000 endorse negatron ATMs in India and 1000000 ATMs worldwide. The card is also use uped at any 350000 merchant outlets in India and around 29 millions globally.The card enables you to enjoy the convenience of cash-less purchasing power without the fear of overdrawing your account Key Benefits and Features ATM daily cash withdrawal terminal point Rs 25,000 (per transaction limit Rs. 15,000) and Poin t of Sales (POS) daily limit Rs. 50,000. Take advantage of the most widely accepted card 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 instantly 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 near branches. Whats a Debit Card? A debit card is issued to an account and card holder uses the card the debit transaction is directly affected to his/her account to the extent of balance for sale. Whereas in credit card there is no need of account but a credit limited is granted up to which one can spend. How Does a Debit Card Work? When you use a debit card, the linked account is suss out for the balance availability and the transaction debits (withdraws) the get along 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. devising a Travel Budget With a Debit Card Naturally, you cant rely on your debit card for all your international proceeding 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 cipher plans onward you leave home so that you have travelers checks and cashandsome money in your checking account for use on your debit card. Lets assume you have a budget of $2000 for your trip. Decide how youre comfortable carve up 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 willing 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 tell the bank to memo post the deposit so that the cash is immediately obtainable and your debit card is quickly back in business. How to trounce 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 d ays to two weeks to get a debit card after you order it. When the card arrives, sign the back have photo 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 immobilise Number Your debit card comes with a block (personal identification quash) 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 of someone else being able to guess your PIN 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 fair, 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 distance 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 type 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 notice 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. C all your bank long before you go if you dont like the fee, call around and ask what other banks are charging for foreign transactions made with a debit card be sure to ask what, if any, fees the bank will charge for an ATM withdrawal made 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 collaboration either 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 inlet customers account. A debit card will allow the customer to purchase goods at VISA Electron merchant establishments and withdraw Cash from any VISA ATM in India and abroad. It is a 24 hours banking facility. What is the difference betw een 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 paid etc. What is the advantage of a debit card? The debit card provides tremendous convenience in payments and helps the customers tighten the amount of cash they need to carry. Besides that customer always stays in control of his cash in hand 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 Return Fi ling. Usable at POS and hence no carry cash Same 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 either or survivor, are desirable 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 receipt of DEBIT CARD? guests are advised to immediately sign on the panel on the back of the Card. However, to prevent any possible upon, even before delivery of Card to customer, it has been made mandatory that guest should first use the Card at ATM, which requires PIN to be entered..Debit Card will be pioneer for use at POS only after it is used at ATM. What is PIN? PIN is a 4 Digits Personal Identification Number, which is issued to the customer in a CLOSED Jacket and is delivered to him separately. Customers are requested to ensure t hat 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 purchasing 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 Car d 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? commonly 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 times in a day. Are any formality 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. flip will pass on the credit to customers account thereafter. What is the procedure to be followed in case of loss of Debit Car d? In case of loss of card, customer will be required to report the loss IMMEDIATELY over phone to our 24 hours Customer Care doorbell free number 1800 220 400. He will also be required to report the loss to nearest police 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 stead of lost one? Replacement card will be issued to customer after receipt of above information and a request for issuing of replacement card from the base branch of the customer. How can Customer prevent misuse 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 cover automatically under an insurance cover. Please 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 conjectural to divulge his PI N to anyone nor record the PIN anywhere. pic SWOT Analysis SWOT ANALYSIS STRENGTH ? financially strong bank ? Very old bank ? assertive marketing ? Good repo ? Technological modern WEAKNESS ? Guidelines are not flexible ? Power is not decentralized OPPORTUNITIES ? New area is developing. So, there is vast chance for housing 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 ? Entry of foreign banks in near future. pic Findings and Research Methodology Findings Q. 1. Are you a customer of BOB? pic Interpretation- 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 maintaini ng 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 show those customers are using ATM/Debit card facilities more than other facilities. Q. 5. How frequently do you use AMT/Debit card? pic Q. 6. What dissolve 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 ACTUAL COLLECTION OF information Data sources The sources of data include either petty(a) data or primary data and even ome times the combination of both. The present study is more concentration on both primary and secondary data. Primary data Primary data is collected through face-to face interaction with customers of the telecom companies, by meeting them in personal. Secondary data The secondary data used for their study are inclusive of the data collected from the internet, catalogues and brochure. SAMPLING PLAN 1 Define Population ? Elements Customers ? Sampling Units Businessmen, Professional, House wives, Students. ? goal West, North, South, East 2 Sampling Frame ? 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 convention Population Ahmadabad Sample Size Population of 60 LEARNINGS The most important part is that they make me feel employee of the organization rather than a trainee and allow me to flourish in each and every department. They were so generous to me 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 disbursement of loan 6. Working on CRISIL and learning some of its function 7. The most important lear ning 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. fix at Bank of Baroda I would like to conclude 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 wonderful 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 conclude it was such a memorable experience for me to be a part of BOB. Thanks a lot to all staff memb ers 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