
Bank of Baroda (BoB) is one of India’s largest public sector banks, headquartered in Vadodara, Gujarat. Established on July 20, 1908, by Maharaja Sayajirao Gaekwad III, the bank initially operated as a private institution before being nationalized in 1969. It is recognized as one of the largest bank in India, with a significant presence both domestically and internationally. As of recent data, Bank of Baroda operates over 9,500 branches and approximately 13,400 ATMs across India, alongside a network of branches in 21 countries globally.
The bank provides a wide range of financial services, including retail banking products such as savings accounts, loans, credit cards, and wealth management. In addition to retail services, it offers corporate banking solutions like working capital finance, trade finance, and treasury solutions. The bank also focuses on rural and agricultural banking by providing services tailored for agricultural financing and rural development. In April 2019, Bank of Baroda merged with Dena Bank and Vijaya Bank, which enhanced its market position and operational scale. This merger created a consolidated entity with a combined business exceeding ₹14.82 trillion.
About Bank of Baroda
Bank of Baroda, affectionately known as BoB, holds a special place in the heart of India’s banking landscape. Founded on July 20, 1908, by the visionary Maharaja Sayajirao Gaekwad III in Vadodara, Gujarat, the bank has grown from humble beginnings into one of the largest public sector banks in the country. Its journey is not just about numbers and branches; it’s a story of resilience, innovation, and a commitment to serving generations of customers.
As I reflect on the history of Bank of Baroda, I am struck by its remarkable evolution. Initially established as a private bank to serve the princely state of Baroda, it quickly expanded its reach. The establishment of its first branch in Ahmedabad just two years later marked the beginning of a journey that would see BoB cross oceans to serve Indian communities abroad. By 1953, it had opened branches in Mombasa and Kampala, catering to the needs of Indians in East Africa. This international presence was a testament to the bank’s ambition and foresight.
The nationalization of Bank of Baroda in 1969 was a pivotal moment in its history. Along with 13 other major banks, it was brought under government ownership, which allowed it to play a crucial role in India’s economic development. This transition transformed BoB into a public sector undertaking focused on profit-making while ensuring financial inclusion for all segments of society. It became more than just a bank; it became a lifeline for many who sought financial stability.
One cannot discuss Bank of Baroda without acknowledging its commitment to innovation. The bank has always been at the forefront of adopting new technologies to enhance customer experience. With the rise of digital banking, BoB embraced change by launching mobile banking apps and online services that make banking accessible from anywhere. This adaptability is vital in today’s fast-paced world where convenience is key.
The merger with Dena Bank and Vijaya Bank in April 2019 was another significant chapter in BoB’s story. This unprecedented three-way merger created the third-largest bank in India, with over 9,500 branches and 13,400 ATMs across the nation. The amalgamation not only strengthened its market position but also allowed it to serve over 120 million customers more efficiently. It’s fascinating to see how this merger has shaped BoB’s identity as a powerhouse in the banking sector.
From personal experience, I have always found Bank of Baroda to be more than just a financial institution. It is a place where relationships are nurtured and trust is built. Whether it’s opening a savings account or applying for a loan, the staff at BoB have consistently demonstrated professionalism and dedication to customer service. Their willingness to assist customers with personalized solutions reflects the bank’s ethos: “to be the top-of-mind bank for every customer and community.”
Bank of Baroda’s commitment to social responsibility is also commendable. The bank has initiated various programs aimed at promoting financial literacy and supporting rural development. By focusing on agricultural financing and microcredit for small businesses, BoB plays an essential role in empowering communities and fostering economic growth.
As I look towards the future of Bank of Baroda, I am optimistic about its potential for continued growth and innovation. With a strong foundation built on over a century of service, BoB is well-positioned to navigate the challenges of modern banking while remaining true to its core values. The bank’s strategic focus on expanding its digital footprint and enhancing customer experience will undoubtedly play a crucial role in attracting younger generations who prioritize convenience and accessibility.
In conclusion, Bank of Baroda is not just a bank; it is an institution that embodies resilience, adaptability, and commitment to service. Its rich history intertwined with personal stories from countless customers showcases its significance in India’s financial landscape. As we move forward into an increasingly digital age, I am confident that Bank of Baroda will continue to thrive and remain a trusted partner for all those seeking financial support and guidance. Whether you are an old customer or someone considering opening an account for the first time, you can be assured that at Bank of Baroda, you are part of something much larger—a legacy built on trust and service that spans generations.
Latest News on Bank of Baroda
Canara Bank, PNB, Union Bank, and other lenders have trimmed their repo-linked lending rates, leading to lower EMI outlays for home loan borrowers.
The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 6.25%, its first rate cut in almost two years. In response, several major banks, including Canara Bank, PNB, Union Bank of India, and Bank of Baroda, have cut their repo-linked lending...
Discover the best FD rates for senior citizens and uncover the specifics.
According to the provided data, the top interest rates offered by various banks in India for fixed deposits range from 7.75% to 7%. The interest rates vary based on the bank, deposit term, and the senior citizen category. For the one-year fixed deposit, the highest...
NMC founder BR Shetty has been ordered to pay Indian bank $33 million.
Here is a summary of the content in 400 words: BR Shetty, the founder of NMC Health, a UAE-based healthcare company that collapsed in 2020 with over $6.6 billion in hidden debt, has been ordered by a Dubai court to pay $33.2 million to Bank of Baroda, an Indian...
Comparison of SBI and BoB 3-year Fixed Deposits: Returns for General and Senior Citizens on Investments of Rs 3 Lakh and Rs 6 Lakh
The article compares the interest rates and returns on 3-year Fixed Deposits (FDs) offered by two prominent banks, State Bank of India (SBI) and Bank of Baroda (BoB). It aims to help investors understand the returns they can expect on deposits of Rs 3 lakh and Rs 6...
Bank of Baroda expects the RBI to slash interest rates by another 50 basis points in 2025, with a potential shift towards an accommodative monetary policy stance.
According to a report by Bank of Baroda, the Reserve Bank of India (RBI) may cut interest rates by 50 basis points (bps) in 2023, which would make its monetary policy stance more accommodative. This forecast is based on the RBI's trend of cutting interest rates by...
Stock Market Updates of Bank of Baroda
Recent Updates
Bank of Baroda forecasts a cumulative 75 basis point cut in the repo rate by 2025.
According to a report, the Bank of Baroda has predicted that the Reserve Bank of India (RBI) is likely to cut the repo rate by 75 basis points cumulatively in 2025. The repo rate is the interest rate at which the central bank lends money to commercial banks, and changes in the repo rate can have a ripple effect on the entire economy.
The report suggests that the RBI will continue to adopt an accommodative monetary policy stance in 2025, despite the rising inflation concerns. The bank’s economists believe that the central bank will cut the repo rate by 25 basis points in each of the three quarter of 2025 to ease the liquidity crunch and support the economic growth.
The report also highlights that the inflation remains under control, and the deflationary pressures are likely to continue in the coming months. This, along with the weak global economy, will give the RBI the flexibility to cut interest rates further.
The Bank of Baroda’s forecast is based on its analysis of various economic indicators, including the GDP growth rate, inflation, and credit growth. The bank’s economists believe that the GDP growth rate is likely to slow down in the first half of 2025, but pick up pace in the second half, driven by the government’s fiscal stimulus measures and the expected increase in consumer spending.
In addition, the report suggests that the RBI’s concerns about inflation are likely to ease, as the commodity prices are expected to remain stable, and the supply chain disruptions are likely to be resolved. This will give the RBI more room to cut interest rates and support the economic growth.
The 75 basis points repo rate cut cumulatively in 2025 is expected to benefit the fixed income investors, as it will reduce the cost of debt and increase the purchasing power of the currency. It will also lead to an increase in the money supply, which will support the economic growth and create more employment opportunities.
Overall, the Bank of Baroda’s report suggests that the RBI is likely to maintain an accommodative monetary policy stance in 2025, leading to a cumulative cut in the repo rate by 75 basis points. This is likely to have a positive impact on the economy, boosting growth, and creating more jobs and employment opportunities.
Seize the opportunity to maximize your returns by opening a fixed deposit account with interest rates of up to 9% before banks introduce downward rate adjustments.
The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points, which will lead to a decrease in interest rates offered by banks on fixed deposits (FDs). Therefore, FD investors have a limited window to lock in higher interest rates before they decline. The good news is that some private and small finance banks are still offering competitive interest rates on FDs.
Private sector banks such as Axis Bank, Bank of Baroda, and IDFC First Bank offer FD interest rates ranging from 7.25% to 8.25% for various tenures. Small finance banks like NorthEast Small Finance Bank, Unity Small Finance Bank, and Utkarsh Small Finance Bank offer even higher interest rates, ranging from 8.5% to 9%. These rates are available for tenures between 18 months to 5 years.
Public sector banks, on the other hand, offer lower interest rates, ranging from 7.3% to 7.45% for tenures between 400 to 456 days. Punjab & Sind Bank and SBI offer the highest FD interest rate of 7.25%, while Bank of Baroda and Bank of India offer rates between 7.3% to 7.45%.
It’s likely that FD interest rates will continue to decline as banks adjust their rates in response to the reduced repo rate. Therefore, investors should consider locking in their FDs at current higher rates to maximize their returns.
Tata Power and Bank of Baroda join forces to provide financial assistance to residential customers under the PM Surya Ghar Yojana initiative.
Bank of Baroda (BoB), one of India’s leading public sector banks, and Tata Power Renewable Energy Ltd (TPREL), a well-established player in the renewable energy sector, has signed a MoU to expand financing options for residential rooftop solar power systems through the Pradhan Mantri Surya Ghar Yojana. The partnership aim to boost renewable energy adoption throughout the country through affordable and inclusive financing.
Effective financing options allow customers to gain access to an attractive interest rates starting at 7% annual percentage rate on loans up-to Rs 600,000. Loans are not only collateral, but also support a flexible maturity period of years, making domestic solar installations significantly more affordable through a 2022 scheme no income documentation would be required no margin contribution requirements, and borrowers will have time to repay without a fixed commitment.
Action unfolds as Milton Fernando and Joe Miranda kick-off Mumbai Corporate League with electrifying panache.
The Mumbai Corporate League 2024-25 season has kicked off with a bang, featuring 14 teams from the city’s corporate sector. The league started on a high note with the opening match between defending champions Union Bank of India and Mumbai Customs, which ended in a 0-0 draw. The match was graced by legendary Mumbai footballer, Milton Fernando, and Joe Miranda, the owner of MYJ FC, who clinched the Mumbai Premier League title last season.
The league will see the top teams from Mumbai’s corporate sector, including Mumbai Customs, Union Bank of India, and Bank of Baroda, among others, compete for the title. Three newly promoted teams, Mumbai Port Trust, Noutras Food, and Tata Power, will also make their mark in the league.
The league will be played on a rotational basis, with different teams hosting matches at their respective stadiums. The league will consist of 60 matches, spread over a period of 6 months, with the final match scheduled for May 2025.
The fixtures for the league have been announced, with each team playing every other team twice, once at their home ground and once away. The league will be closely followed by football enthusiasts, who can expect to witness high-quality football, intense rivalries, and standout performances throughout the season.
The league’s website and social media handles will provide all the latest updates, fixtures, and standings, keeping fans engaged throughout the season. With several top contenders vying for the title, the competition is set to be intense, and fans can expect to be on the edge of their seats as they watch the league unfold.
According to sources, Bank of Baroda is projecting a 0.25% interest rate cut by the RBI on February 7.
The Reserve Bank of India (RBI) is expected to reduce the repo rate by 25 basis points (bps) in its upcoming monetary policy announcement on February 7, according to a report by Bank of Baroda. The report suggests that inflation, which remains the primary focus of monetary policy, is showing signs of moderation, allowing the RBI to consider a rate cut. Inflationary pressures have eased due to a decline in the prices of essential vegetables, contributing to lower price volatility in the Consumer Price Index (CPI). The RBI is expected to begin reducing interest rates gradually and dependent on further economic data.
The report also highlights several global and domestic factors that have influenced financial markets. Rising geopolitical tensions and concerns over trade policies have led to increased volatility in asset markets, affecting the Indian rupee. The strengthening of the US dollar due to these tensions has impacted global currencies, including the rupee. Domestic liquidity conditions have also tightened, with banks facing pressure due to slower deposit growth. While credit growth is stabilizing, liquidity constraints in the banking sector have become evident.
Additionally, domestic economic growth remains uneven, with premium-priced goods continuing to drive consumption trends. Corporate financial results for the third quarter of the fiscal year reflect a slowdown in sales, signaling a challenging environment for businesses. This trend is likely to be visible in the Gross Value Added (GVA) of the manufacturing sector as well.
Given these economic conditions, the report suggests that the RBI may opt for a moderate rate cut, balancing the need to support growth while maintaining financial stability. The central bank’s approach will remain cautious and data-driven in the future.
Bank of Baroda honors Arjuna Award recipient Pranav Soorma for his outstanding sporting accomplishments.
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Bank of Baroda, one of India’s leading public sector banks, recognized Mr. Pranav Soorma, an Officer of the Bank and recipient of the prestigious Arjuna Award 2024, for his outstanding achievements in Para Athletics. Soorma won a Silver Medal for India in the Men’s F51 Club Throw event at the Paris Paralympic Games 2024. The Arjuna Award 2024 was presented to him on January 17, 2025, for his remarkable accomplishments and for bringing glory to the nation.
In recognition of Soorma’s achievements, the Bank’s Managing Director & CEO, Shri Debadatta Chand, honored him with an out-of-turn promotion as Manager, a cash reward of Rs 10 Lakh, and acknowledged him as a ‘Sportsperson’ within the Bank. Chand said that Soorma’s success is a result of his dedication and perseverance, and the Bank stands by him as he continues to make the country proud. The Bank’s sports quota initiative aims to support and empower talented individuals like Soorma, providing them with institutional backing to excel in their chosen field.
Bank of Baroda is a leading commercial bank in India, founded on July 20, 1908. It serves a global customer base of 165 million through over 70,000 touch points across 17 countries. The Bank’s vision is to instill a sense of trust and security in all its dealings with customers. With a significant stake owned by the Government of India, the Bank is committed to fostering a culture that nurtures talented sportspeople like Soorma and encourages excellence in all spheres of life.
Stay updated on the recent shift in vacancy numbers for IBPS PO and Clerk recruitment
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The Institute of Banking Personnel Selection (IBPS) has increased the vacancy numbers for its Probationary Officer (PO) and Clerical Cadre (Clerk) recruitment for 2024-25. The PO vacancies have risen from 3,955 to 5,888, while Clerk vacancies have increased from 6,128 to 8,792. The final count may be even higher as some banks have not reported their vacancies yet.
The increase in vacancies is a positive development for aspirants, as it directly impacts the cut-off marks and selection chances. More vacancies mean a higher number of candidates will qualify for the mains and interview rounds. The rise in vacancies also indicates that banking organizations are expanding their recruitment efforts, creating better job prospects for candidates.
The increase in IBPS PO vacancies can be attributed to the participation of Bank of Baroda and Bank of Maharashtra, which initially did not report any vacancies but later contributed significantly. Central Bank of India reduced its vacancies, while Punjab National Bank and others increased their hiring slightly.
The IBPS Clerk vacancy increase is largely due to the participation of Indian Bank, Bank of Baroda, and UCO Bank. Canara Bank reduced its clerk vacancies, while most banks maintained their initial vacancy counts.
The reasons behind the increase in IBPS PO and Clerk vacancies include bank expansion and retirements, delayed vacancy reporting by banks, increased workload in public sector banks, economic growth and credit expansion, and the government’s push for employment. The increased vacancies will lead to better selection chances, reduced competition per seat, and higher demand for skilled candidates with strong banking and technological knowledge.
One of the key takeaways from Budget 2025-26 is that it cleverly balances fiscal discipline with a high allocation for capital expenditure, a strategy that BoB analysis deems as prudent and forward-thinking.
The Union Budget for 2025-26 has been praised by Bank of Baroda economists for maintaining fiscal prudence and stability in its borrowing program. The budget aims to increase spending on infrastructure projects, rural development, and agriculture, with the overall expenditure projected to rise to Rs 50.7 lakh crore from Rs 47.2 lakh crore in the current fiscal year. The government has also maintained a sharp increase in capital expenditure (Capex), with a targeted increase of 9.8% to Rs 11.2 lakh crore. The capex-to-GDP ratio is expected to remain steady at 3.1%.
The government’s revenue is expected to grow in line with nominal GDP, with net revenue collections estimated to increase by Rs 3.3 lakh crore. Gross tax collections are expected to register a significant increase in FY26, driven by growth in corporate tax receipts and indirect tax collections. The budget has also provided a tax rebate of Rs 1 lakh crore, which is expected to lead to a lower increase in income tax collections.
The budget has set a target to reduce the debt-to-GDP ratio to 56.1% in FY26, lower than the estimated 57.1% in FY25. The government also plans to bring down the fiscal deficit to 3.7% of GDP in FY26, in line with the fiscal glide path outlined in the budget for 2021-22.
The report highlights that the budget has identified key areas of focus for the next five years, including employment, skilling, agriculture, MSMEs, women, infrastructure, and space technology. The budget’s focus on rural development and agriculture is expected to drive growth, with the Centre’s overall expenditure on these sectors expected to increase.
Overall, the budget’s focus on maintaining fiscal prudence, increasing capital expenditure, and driving growth in key sectors is expected to be positive for markets. The increased spending on infrastructure and rural development is expected to boost economic growth, while the government’s debt-to-GDP ratio is expected to decline steadily over the next few years.
According to Bank of Baroda’s analysis, the 2025-26 budget prioritizes fiscal responsibility while still allocating a significant amount for capital expenditures.
The Union Budget for 2025-26 has been analyzed by economists at Bank of Baroda, who have found that it maintains fiscal prudence while prioritizing public spending and government borrowing. The budget allocates significant resources to large infrastructure projects in highways, railways, and ports, as well as rural development and agriculture, which will drive growth. The Centre’s overall expenditure is expected to increase from Rs 47.2 lakh crore to Rs 50.7 lakh crore, led by both revenue and capital spending. The government’s capex spending is expected to increase sharply to Rs 11.2 lakh crore from Rs 10.2 lakh crore, representing 3.1% of GDP.
The government’s tax revenue-GDP ratio is expected to remain stable at 12% in FY26, with the direct tax-GDP ratio increasing to 7.1% from 6.9% and the indirect tax-GDP ratio remaining unchanged at 4.9%. The fiscal deficit as a percentage of GDP is expected to decline by another 0.40% in FY26, bringing it down to 56.1% from 57.1% in FY25. The government also plans to lower its debt-GDP ratio to below 50% by 2031, as recommended by the 16th Finance Commission.
The report highlights that the Centre’s net revenue collections are estimated to increase by Rs 3.3 lakh crore, driven by an increase in corporate tax receipts and indirect tax collections. The government has also decided to forego Rs 1 lakh crore as a tax rebate, which will lead to a lower increase in income tax collections. Indirect tax collections are projected to increase at a slightly slower pace compared to direct taxes, driven by higher domestic consumption and compliance.
Overall, the budget is seen as positive for the markets, with a focus on infrastructure, rural development, and agriculture driving growth. The government’s plan to lower its debt-GDP ratio and fiscal deficit, while prioritizing public spending and borrowing, is also seen as a positive step towards fiscal prudence.
Bank of Baroda’s MD & CEO Debadatta Chand lauds Union Budget 2025 for reiterating its commitment to fiscal responsibility.
The Union Budget 2025 has received mixed reactions from various stakeholders, with some welcoming the government’s commitment to fiscal prudence and others expressing disappointment over the lack of concrete measures to address pressing economic issues. Debadatta Chand, Managing Director and CEO of Bank of Baroda, has reiterated the government’s commitment to fiscal prudence, stating that the budget has maintained a balance between fiscal discipline and economic growth.
Chand praised the government’s efforts to contain fiscal deficit, which has been a major concern for the economy. He noted that the budget has provided for a fiscal deficit of 3.5% of GDP, which is lower than the previous year’s target. This, according to Chand, demonstrates the government’s commitment to fiscal prudence and its ability to manage the economy effectively.
However, Chand also expressed disappointment over the lack of concrete measures to address the issue of high inflation. He noted that the budget has not provided any significant relief to consumers, who are struggling with high prices of essential commodities. Chand also expressed concern over the lack of measures to boost economic growth, which has been sluggish in recent times.
Other experts have also expressed mixed reactions to the budget. Some have welcomed the government’s efforts to increase spending on infrastructure and social sectors, while others have criticized the lack of measures to address the issue of unemployment. The budget has also been criticized for not providing any significant relief to the middle class, who are struggling with high taxes and inflation.
Despite the mixed reactions, the budget has been welcomed by some experts who have praised the government’s efforts to promote economic growth and development. The budget has provided for increased spending on infrastructure, which is expected to boost economic growth and create jobs. The budget has also provided for increased spending on social sectors, such as healthcare and education, which is expected to benefit the poor and vulnerable sections of society.
In conclusion, the Union Budget 2025 has received mixed reactions from various stakeholders, with some welcoming the government’s commitment to fiscal prudence and others expressing disappointment over the lack of concrete measures to address pressing economic issues. While the budget has provided for increased spending on infrastructure and social sectors, it has also been criticized for not providing any significant relief to consumers and the middle class.
SBI, IDBI Bank, PNB, and Bank of Baroda launch new FD schemes: Discover the key features and details today!
Bank of Baroda has launched a new scheme, the Liquid Fixed Deposit (LFD), designed for retail investors. This unique product combines the benefits of assured returns, flexibility, and liquidity, making it an attractive option for those looking for a fixed deposit scheme. Unlike traditional fixed deposits, the LFD allows for partial withdrawals from the principal amount without having to close the entire deposit. This feature significantly reduces the penalties associated with premature withdrawals, making it an appealing option for those who may need to access their funds before the maturity period.
The Liquid FD scheme is designed to cater to both short-term liquidity and long-term savings goals. The interest rate on this scheme will be the same as the prevailing interest rates on term deposits, which range from 4.25% to 7.15% for general citizens. This means that investors can expect competitive returns on their deposits, while still having the flexibility to access their funds as needed.
The BoB Liquid Deposit Scheme offers several benefits, including:
1. Assured returns: Investors can earn interest on their deposits, providing a predictable income stream.
2. Flexibility: The scheme allows partial withdrawals without closing the entire deposit, reducing premature withdrawal penalties.
3. Liquidity: Investors can access their funds as needed, making it an excellent option for those with short-term liquidity needs.
4. Competitive returns: The scheme offers competitive interest rates, making it an attractive option for those looking to save and invest.
Overall, the Bank of Baroda Liquid Fixed Deposit scheme is a unique and attractive option for retail investors seeking a combination of assured returns, flexibility, and liquidity. By offering competitive interest rates and reducing premature withdrawal penalties, this scheme provides investors with a practical solution for their short-term and long-term savings goals.
Key Indian companies, including Bank of Baroda, L&T, Gail, and Adani Ports, are set to release their Q3 earnings results today, with estimates varying among analysts.
According to consensus estimates by Bloomberg, several Indian companies are expected to report strong financial results for the quarter ended December. GAIL, a gas utility company, is likely to clock a profit of Rs 2,614 crore and revenue of Rs 35,310 crore, with an Ebitda (earnings before interest, taxes, depreciation, and amortization) of Rs 3,810 crore at a margin of 10.80%.
Adani Ports, another company owned by the Adani group, is expected to report a profit of Rs 2,589 crore and revenue of Rs 7,497 crore, with an Ebitda of Rs 4,588 crore at a margin of 61.20%. Adani Enterprises, a diversified conglomerate, is expected to report a net profit of Rs 1,582 crore and revenue of Rs 29,727 crore.
Other companies that will announce their earnings on Thursday include BEL, Jindal Steel & Power, Dabur India, Coromandel International, and Max Healthcare Institute. Additionally, several other companies such as Phoenix Malls, Kalyan Jewellers, Ajanta Pharma, Prestige Estates Projects, Shree Cement, Welspun Living, Vedant Fashions, Astral, Biocon, and Dr Lal’s PathLabs will also report their results for the quarter ended December.
Overall, these companies are expected to report strong financial performance, with significant profits and revenue growth. The results are expected to be announced on Thursday, and investors will be closely watching to see if these companies can meet or exceed their expectations.
Maintaining a minimum balance of [amount] in your Bank of Baroda account ensures you avoid unwanted deductions, so check the required minimum balance today!
As India’s second-largest government bank in terms of market capitalization, Bank of Baroda has various rules and requirements for its account holders. Specifically, the bank has set different minimum balance limits for accounts located in different areas. For customers with accounts in rural areas, the minimum balance requirement is ₹500, while those in semi-urban areas must maintain a balance of ₹1,000. In contrast, accounts in major cities such as Delhi and Mumbai require a minimum balance of ₹2,000.
Failure to maintain these minimum balance levels can result in penalties being directly deducted from the account holder’s account. For accounts in metro and urban areas, the penalty is ₹200, while those in semi-urban areas incur a penalty of ₹100.
Fortunately, Bank of Baroda has introduced its BOB LITE Savings Account, which eliminates the need for a minimum balance. This zero-balance savings account offers customers a hassle-free banking experience and relief from worrying about maintaining a minimum balance.
To avoid penalty charges and inconvenience, it’s essential for customers to maintain at least the required minimum balance in their accounts quarterly. Bank of Baroda aims to provide ease and convenience for its customers with the introduction of this new savings account, marking a significant improvement in its account requirements. This news is vital for Bank of Baroda’s customers, informing them of their responsibilities and privileges in maintaining a successful banking relationship.
All leading banks in the country, such as HDFC, SBI, Canara Bank, and others, are playing a vital role in shaping India’s economy.
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The Indian banking industry is a vital part of the country’s economy, with millions of customers receiving a range of financial services. By 2025, Indian banks are expected to continue contributing to economic growth through lending, promoting savings, and supporting businesses. The banking sector has also adopted technology to provide safe and effective digital banking options.
The top 10 Indian banks, led by HDFC Bank and ICICI Bank, have excelled in their financial performance, innovative products, and exceptional customer service. Public sector banks like State Bank of India (SBI) dominate the market, with other notable performances from Axis Bank, Kotak Mahindra Bank, and Punjab National Bank (PNB).
The list of top 10 banks in India by market capitalization includes:
1. HDFC Bank (private, established in 1994, market cap: 13.11 lakh crore, users: 10 crore)
2. ICICI Bank (private, established in 1994, market cap: 9.05 lakh crore, users: 3 crore)
3. SBI (public, established in 1955, market cap: 6.95 lakh crore, users: 50 crore)
4. Kotak Mahindra Bank (private, established in 1985, market cap: 3.55 lakh crore, users: 5.1 crore)
5. Axis Bank (private, established in 1993, market cap: 3.30 lakh crore, users: 2 crore)
6. Bank of Baroda (public, established in 1908, market cap: 1.20 lakh crore, users: 12 crore)
7. Punjab National Bank (public, established in 1895, market cap: 1.19 lakh crore, users: 18 crore)
8. Indian Overseas Bank (public, established in 1937, market cap: 0.97 lakh crore, users: 10 crore)
9. Canara Bank (public, established in 1906, market cap: 0.89 lakh crore, users: 11.65 crore)
10. Union Bank of India (public, established in 1919, market cap: 0.87 lakh crore, users: 15 crore)
These banks have contributed significantly to India’s financial growth, providing digital innovations, personal and business banking products, and shaping the banking industry in India.
Deadline to submit applications for 1267 AMO and other positions: Details available here
The Bank of Baroda (BOB) is closing the registration period for the recruitment of Human Resources on a regular basis for various departments on January 27, 2023. Eligible candidates can still apply for the posts at bankofbaroda.in, despite the initial application deadline being January 17, 2025. The recruitment drive aims to fill 1,267 vacancies across various departments.
To be eligible, candidates must check the eligibility criteria, age limit, pay scale, reservation, and other details outlined in the official notification. The notification is available on the BOB website. The application fee for General, EWS, and OBC category candidates is Rs 600, while SC, ST, PWD, and Women candidates are required to pay Rs 100.
To apply, candidates should follow these steps:
1. Visit the official website bankofbaroda.in
2. Go to the “Career” tab and click on “Current Opportunities”
3. Click on “Apply Now” for the “Recruitment of Professionals on Regular Basis in various Departments”
4. Fill out the application form, upload required documents, and pay the application fee
5. Submit the form and take a printout for future reference
The direct link to apply is available on the BOB website. Candidates are advised to review the official website for more information and to submit their applications by the deadline.
Jammu and Kashmir Bank, Canara Bank, and Bank of Baroda have been hit with a whopping fine of Rs 5.94 crore by the RBI in a recent regulatory move.
The Reserve Bank of India (RBI) has imposed fines on four institutions for non-compliance with regulatory norms. The fines total Rs 5.94 crore. Jammu and Kashmir Bank was fined Rs 3.31 crore for not meeting norms related to financial inclusion, access to banking services, Know Your Customer (KYC), and loans and advances. Bank of India was fined Rs 1 crore for non-compliance with provisions under the Banking Regulation Act of 1949. Canara Bank was penalized Rs 1.63 crore for violating directions regarding priority sector lending, interest rates on deposits, and financial inclusion. Additionally, Datsan Exports West Bengal was fined Rs 1 lakh for failure to comply with directions related to risk management and code of conduct on outsourcing of financial services.
The RBI takes compliance with regulatory norms seriously, and these fines are a result of the banks’ failure to meet these standards. The norms in question include those related to financial inclusion, which aims to ensure that all segments of society have access to basic banking services. The norms also include those related to KYC, which requires banks to verify the identity of their customers to prevent financial crimes such as money laundering. The fines imposed on the banks serve as a reminder of the importance of complying with regulatory norms and the consequences of non-compliance.
It is worth noting that the fines imposed on the banks are a relatively small fraction of their total assets and revenues. However, the fines are still significant and can have a negative impact on the banks’ profits and reputations. The banks will need to take steps to address the deficiencies identified by the RBI and implement measures to prevent similar non-compliance in the future. The RBI’s actions serve as a reminder of the importance of transparency and accountability in the banking sector.
FD Rates: Top banks are offering the highest returns on 400-day fixed deposits – find out where to invest your money for maximum yield.
Here is a summary of the content in 400 words:
In India, fixed deposit (FD) interest rates vary across different banks, depending on the deposit amount, period, and age of the depositor. Private sector banks typically offer higher interest rates for shorter periods. This article highlights various FD schemes from public sector banks, private sector banks, and some individual banks.
Among public sector banks, the Central Bank of India offers the highest interest rate of 7.50% for FDs of 1111 and 3333 days. Punjab & Sind Bank and Bank of Maharashtra also offer high interest rates of 7.45% for 555 days and 366 days, respectively.
Among private sector banks, DCB Bank offers the highest interest rate of 8.05% for FDs of 19-20 months. RBL Bank and IndusInd Bank also offer competitive rates of 8% for 500 days and 7.99% for FDs of 1 year 5 months to 1 year 6 months, respectively. HDFC Bank, ICICI Bank, and YES Bank offer lower interest rates ranging from 7.40% to 7.75% for different periods.
State Bank of India (SBI) offers a maximum rate of 7.25% for 444 days under its Amrit Vrishti scheme. Other public sector banks, such as Bank of Baroda, Bank of India, and Union Bank of India, offer lower interest rates ranging from 6.50% to 7.30% for different periods.
In conclusion, fixed deposit rates in India vary widely depending on the bank, deposit period, and deposit amount. Individuals should research and compare the rates offered by different banks to choose the best FD scheme that suits their financial goals and needs.
SBI, IDBI Bank, PNB, and Bank of Baroda roll out new fixed deposit schemes in January 2025, offering exciting interest rates to customers.
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Several major Indian banks, including State Bank of India (SBI), IDBI Bank, Punjab National Bank, and Bank of Baroda, have launched new fixed deposit (FD) products in January 2025 to attract more deposits. These schemes offer higher returns, greater flexibility, and tailored options for specific customer segments.
SBI has introduced two new deposit schemes for retail investors. The Har Ghar Lakhpati RD scheme is a pre-calculated recurring deposit scheme that helps customers accumulate Rs1 lakh or its multiples, while the SBI Patrons FD is a special fixed deposit scheme exclusively for super senior citizens (80+ years) with an additional 0.10% interest rate over the standard senior citizen rate.
IDBI Bank has launched the IDBI Chiranjeevi-Super Senior Citizen FD, a limited-period Utsav FD scheme offering attractive interest rates, with the highest being 8.05% per annum for a tenure of 555 days. This scheme is designed to address the financial needs of individuals aged 80 years and above.
Punjab National Bank (PNB) has introduced two new tenures, 303 days and 506 days, with interest rates ranging from 7% to 7.25% for general citizens and 7.25% for senior citizens. Bank of Baroda’s Liquid Fixed Deposit scheme allows partial withdrawals without closing the entire deposit, reducing premature withdrawal penalties and ensuring easy access to funds.
These new FD products cater to various customer segments, including super senior citizens, general citizens, and retail investors. With interest rates ranging from 6.7% to 8.05% per annum, these schemes provide attractive returns for investors looking to save and grow their money. It is essential for investors to review the terms and conditions, interest rates, and other benefits before investing in these schemes.
The Reserve Bank of India’s (BoB) sanctions over Rs 3,300 crore in agri loans, concluding the 7th edition of the Baroda Kisan Pakhwada event, according to ThePrint’s ANI report.
Bank of Baroda (BoB), a major public sector bank in India, has concluded its 7th edition of the “Baroda Kisan Pakhwada” rural outreach program, which aimed to strengthen the bank’s relationship with the agricultural community. The two-week program saw the bank establish connections with over 348,000 farmers nationwide and sanction agriculture loans worth more than Rs 3,300 crore.
The program included various events such as mega kisan melas, choupals, health camps, and other rural drives, which helped the bank engage directly with farmers and provide information on its agriculture lending products and government initiatives. The bank also felicitated progressive farmers, entrepreneurs, and customers for their contributions to the sector.
This year’s theme focused on leveraging technology to empower Indian farmers, and the bank introduced two digital initiatives – the Digital Baroda Kisan Credit Card (BKCC) and Digital Gold Loan – to facilitate seamless access to credit for farmers. The “Baroda Kisan Rath”, a mobile outreach vehicle, traveled across India, raising awareness and sharing essential information about the bank’s offerings and government schemes.
The bank’s Executive Director, Lal Singh, said that the success of the program underlines the bank’s commitment to India’s agriculture community and its aim to simplify access to credit and make banking services more accessible and convenient for farmers. As of September 30, 2024, BoB’s agriculture lending portfolio stood at Rs 144,508 crore, reflecting a strong 10.6 per cent year-on-year growth, highlighting the bank’s ongoing efforts to support the sector’s development and financial inclusion.
Compare the best FD rates for senior citizens: A snapshot of interest rates offered by top public sector banks (SBI, BoB, PNB) and private banks on 1-year, 3-year, and 5-year fixed deposits.
As a senior citizen, it is important to find investments that provide a steady income and security. Fixed Deposits (FDs) are a popular option for senior citizens, as they are safe and offer guaranteed returns. While the interest rates on FDs for senior citizens may vary based on the tenure and bank, there are certain banks that offer more attractive rates.
State Bank of India (SBI) offers 7.75% interest rate to senior citizens on its 444-day Amrit Vrishti scheme, while its 1-year, 3-year, and 5-year FD plans offer 7.30%, 7.25%, and 7.50% interest rates, respectively. Bank of Baroda (BoB) offers 7.80% interest rate to senior citizens on its 400-day Bob Utsav scheme, while Punjab National Bank (PNB) offers 7.75% interest rate on its 400-day FD scheme.
Canara Bank, ICICI Bank, Axis Bank, and HDFC Bank are also offering attractive interest rates to senior citizens on their FD schemes. For instance, Canara Bank offers 7.90% interest rate to senior citizens on its 3-year to less than 5-year FD scheme, while ICICI Bank offers 7.80% interest rate on its 15-month to less than 18-month FD scheme. Axis Bank offers 7.75% interest rate on its 15-month to less than 2-year FD scheme, and HDFC Bank offers 7.90% interest rate on its 4-year 7-month FD scheme.
It is important to note that the minimum deposit amount varies from bank to bank, typically ranging from 7 days to 10 years. Senior citizens can benefit from these FD schemes by investing in the tenure and bank that suits their financial needs and goals.
Unlock Top Yields: Discover the best FD rates in the market with this curated list of top-performing banks
The article discusses the best fixed deposit (FD) rates offered by various banks in India, including small finance banks, private banks, and government banks. It highlights that small finance banks are often offering higher returns on FDs than private and government banks, making them a popular choice for risk-averse investors. The article provides a table listing the best FD rates offered by various banks, including small finance banks, private banks, and government banks.
The table shows that small finance banks such as Northeast Small Finance Bank, Unity Small Finance Bank, and Utkarsh Small Finance Bank are offering interest rates ranging from 8.25% to 9.5% per annum on FDs with tenures ranging from 546 days to 1111 days. Private banks such as Axis Bank, Bandhan Bank, and ICICI Bank are offering interest rates ranging from 7.25% to 7.9% per annum on FDs with tenures ranging from 12 months to 55 months.
Government banks such as Bank of Baroda, Bank of India, and State Bank of India are offering interest rates ranging from 7.25% to 7.8% per annum on FDs with tenures ranging from 400 days to 1111 days. The article also notes that banks keep changing their rates from time to time, and investors are advised to check the exact interest rate and terms from the official website or branch of the concerned bank before investing in an FD scheme.
Overall, the article provides a useful resource for individuals looking to earn a stable return on their investments by placing their money in a fixed deposit account with a bank.
Know the latest interest rates for SBI, HDFC Bank, Bank of Baroda, PNB, Canara Bank, and IDBI Bank, and learn about the meaning of MCLR.
India’s Monetary Policy Rate Committee (MPC) has decided to cut the overnight MCLR (Marginal Cost of Funding Last Republication) by 5 basis points (bps) from 9.20% to 9.15%. This change is effective from January 7, 2025. The other MLCRs (Marginal Cost of Funding), namely the one-month, three-month, six-month, and one-year MLCRs, have been adjusted as follows:
* One-month MCLR remains unchanged at 9.20%
* Three-month MCLR remains unchanged at 9.30%
* Six-month MCLR has been cut by 5 bps from 9.40% to 9.35%
* One-year MCLR has been cut by 5 bps from 9.40% to 9.35%
* Two-year MCLR remains unchanged at 9.45%
* Three-year MCLR has been cut by 5 bps from 9.50% to 9.45%
These revised MCLR rates will be applicable starting from January 7, 2025. The motive behind the rate cut is likely to support the slowing economy and stabilize the financial markets. It’s a way for the RBI (Reserve Bank of India) to stimulate economic growth and maintain price stability. The cut in interest rates will lead to lower interest rates for borrowers, making it more attractive to take out loans, which can boost economic activity and stimulate growth. Meanwhile, the unchanged rates for shorter-term MLCRs may indicate the RBI’s attempt to maintain a balanced approach to monetary policy. Overall, the rate cut is expected to have a positive impact on the economy and financial markets.
Bank of Baroda Makes Significant Move, Increases Funding by Rs. 5,000 Crore
Bank of Baroda, a leading public sector bank in India, has successfully raised Rs. 5,000 crore through the issuance of 10-year infrastructure bonds. The bank received a strong response from investors, with a cumulative demand of Rs. 14,830 crore from 110 bids. This translates to 7.4 times the base issue size and 3 times the total issue size.
The bonds have a fixed maturity of 10 years from the date of allotment and are rated ‘AAA’ with a stable outlook by CRISIL Ratings & India Ratings. The allotment took place on January 16, 2025. The bond issue was significantly oversubscribed, with the bank retaining the full issue size of Rs. 5,000 crore at a competitive rate of 7.23%.
Bank of Baroda is a major commercial bank in India, with a customer base of over 165 million and operations spread across 17 countries. The bank’s vision is to provide a seamless and hassle-free banking experience to its customers, with a focus on trust and security.
This infrastructure bond issue is a significant development for Bank of Baroda and demonstrates the bank’s ability to raise capital at competitive rates. The issue will help the bank to support its growth plans and infrastructure development projects.
BSE-listed firm CAM Engineering Corporation has provided consultancy services to India’s Bank of Baroda in relation to its flagship green hydrogen project, becoming a key collaborator in a historic endeavour, as reported in ET LegalWorld.
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Cyril Amarchand Mangaldas (CAM) acted as the legal advisor to the Bank of Baroda in a significant transaction, providing credit facilities to JSW Renewable Energy (Vijayanagar) Limited for the construction and implementation of its green hydrogen project in Vijayanagar, Karnataka. The project, with a capacity of 3,800 tonnes per annum, is the largest commercial-scale green hydrogen project in India to date. The project aims to produce green hydrogen and oxygen, which will be used by JSW Steel Limited for its steel manufacturing.
The transaction was a first for Bank of Baroda, as it marks its entry into the green hydrogen project finance market. The team from CAM, led by Partner and Co-Head-Projects (Energy & Energy Transition) Ramanuj Kumar, Principal Associate Shrey Srivastava, and Associate Snehil Ajmera, conducted legal due diligence on the hydrogen supply agreement and other project documents to assess and address bankability issues.
The agreement was signed on September 19, 2024, and closed on October 9, 2024. The transaction is a milestone in India’s transition to a low-carbon economy, as it demonstrates the potential for green hydrogen to play a crucial role in the country’s energy mix. The project also has the potential to reduce carbon emissions and promote sustainable development.
The success of this transaction sets a precedent for other green hydrogen project finance transactions in India, paving the way for more such projects to be developed and financed. The deal also highlights the growing importance of environmental, social, and governance (ESG) considerations in project finance transactions. As the world continues to focus on reducing its carbon footprint, the India market is expected to see a surge in green hydrogen projects, and Bank of Baroda’s involvement in this transaction is a significant step in that direction.
Compare the top Fixed Deposit (FD) interest rates from HDFC Bank, Canara Bank, and Yes Bank
According to recent data, various banks in India are offering different interest rates on fixed deposits (FDs) for different tenure periods. For a one-year FD, Yes Bank offers the highest interest rate at 7.25%, followed by Bank of Baroda and Canara Bank with 6.85%. HDFC Bank and Axis Bank offer the lowest interest rates at 6.7% and 6.8%, respectively.
In the three-year FD category, Yes Bank once again offers the highest interest rate at 7.75%, followed by Canara Bank at 7.3%. Kotak Mahindra Bank and Bank of Baroda offer 7.15%, while HDFC Bank, ICICI Bank, and Punjab National Bank (PNB) offer 7%.
For five-year FDs, Yes Bank and Canara Bank tie for the top spot with 7.4% interest. Axis Bank offers 7.1%, while HDFC Bank, ICICI Bank, and Kotak Mahindra Bank offer 7%. Bank of Baroda and PNB offer 6.8% and 6.8%, respectively, making them the lowest offerings in this category. It is essential for individuals to consider their financial goals and risk appetite before choosing the right bank and tenure for their FDs.
HDFC Bank Q3 Earnings Preview: While HDFC is expected to underwhelm, SBI might surprise with a significant surge in profit.
The State Bank of India (SBI) and HDFC Bank, India’s largest and closest private sector rivals, are expected to report divergent profit growth for the quarter ending December 2024. SBI is likely to report a profit after tax (PAT) growth of over 80%, driven by better deposit growth and lower wage costs. On the other hand, HDFC Bank may report a PAT growth of less than 7%, due to muted loan and deposit growth across the banking sector.
Most banks are expected to report lackluster earnings growth for the December quarter, due to slowing business and higher credit costs amid increasing stress in unsecured retail segments. This could lead to downward pressure on banks’ net interest margins (NIM) and net interest income (NII). Additionally, operating expenses are likely to remain under control, but other income is expected to be modest due to muted treasury performance.
Analysts expect NIM compression to continue, with Nomura estimating a 4-6 basis points sequential drop for HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank. Funding costs for banks are likely to remain elevated, keeping pressure on margins. With rate cuts projected in early 2025, the banking system’s yield is expected to witness further pressure over the coming quarters.
Asset quality stress is also expected to remain a concern, particularly in the unsecured retail segment, especially microfinance. Credit costs are likely to increase for large private banks, while smaller banks with higher exposure to unsecured retail and microfinance may see a greater rise in credit costs. PSU banks like SBI and Bank of Baroda are expected to see lower sequential credit costs due to higher non-NPL provisions in the September quarter.
Despite the overall stress on the industry, SBI is likely to report strong profit growth due to better-than-peers CASA deposit growth and lower wage bills after reducing its headcount by about 10% since 2019. Overall, the banking sector is expected to face challenges in the coming quarters, with banks needing to monitor asset quality stress and maintain a focus on cost control to maintain profitability.
Get an overview of FD rates: Calculate your maturity amount for a Rs 7 lakh investment in banks like SBI, Canara Bank, HDFC Bank, ICICI Bank, and others, across 1-year, 3-year, and 5-year tenures.
The article discusses the current fixed deposit (FD) rates offered by various public sector banks, private banks, and other financial institutions in India. The rates range from 6.50% to 7.40% for different tenures, with the highest returns available on 3-year and 5-year FDs. The article also provides a breakdown of the rates offered by SBI, Bank of Baroda (BoB), PNB, Canara Bank, and ICICI Bank, including their 1-year, 3-year, and 5-year FD rates.
For example, SBI is offering 6.80% for 1-year, 6.75% for 3-year, and 6.50% for 5-year FDs, which would result in a maturity amount of Rs. 7,48,828 for a 1-year FD, Rs. 8,55,675 for a 3-year FD, and Rs. 9,66,294 for a 5-year FD on a Rs. 7 lakh investment.
Similarly, Canara Bank is offering 6.85% for 1-year, 7.40% for 3-year, and 6.70% for 5-year FDs, which would result in a maturity amount of Rs. 7,49,196 for a 1-year FD, Rs. 8,72,229 for a 3-year FD, and Rs. 9,75,847 for a 5-year FD on a Rs. 7 lakh investment.
The article also mentions that FDs are considered a secure investment option as they offer guaranteed returns, capital protection, and a fixed interest rate that does not change with market fluctuations. It is important for investors to note that the rates and figures mentioned are subject to change and not investment advice, and individuals should conduct their own research or consult a financial expert before making an investment decision.
The deadline is near for the application window to 1267 Manager, AMO and other roles, submit your application today!
The Bank of Baroda (BOB) is accepting online applications for the recruitment of Human Resources on a regular basis to fill 1267 vacancies across various departments. Eligible candidates can apply online at bankofbaroda.in until January 17, 2025. The application process involves filling out the online form, uploading documents, and paying the application fee. The fee amount varies depending on the candidate’s category: ₹600 for General, EWS, and OBC categories, and ₹100 for SC, ST, PWD, and Women candidates.
To apply, candidates need to follow these steps:
1. Visit the official website bankofbaroda.in
2. Click on the “Current Opportunities” tab under the career section
3. Click on “Apply Now” under the “Recruitment of Professionals on Regular Basis in various Departments”
4. Fill out the online application form
5. Upload the required documents
6. Pay the application fee
7. Submit the form and take a printout for future reference
Candidates are advised to check the eligibility criteria, age limit, pay scale, and other details mentioned in the official notification. The exact details can be found on the official website bankofbaroda.in. Don’t miss this opportunity to apply for the recruitment drive and enhance your professional future!
Deadline Looms: Don’t Miss 1267 Job Opportunities with BOB – Apply Now and Get Your Direct Link
The Bank of Baroda (BOB) has announced a recruitment drive to fill 1267 vacancies for various positions, including Managers, in its various departments. The application process is currently open on the official website, bankofbaroda.in, and will close on January 17, 2025. The recruitment is being done to meet the bank’s organisational needs.
The application fee ranges from Rs. 600 for General, EWS, and OBC categories to Rs. 100 for SC, ST, PWD, and women categories. Interested candidates can follow the online applicatioon process, which involves registration, logging in to the account, filling out the application form, and paying the application fee. After submitting the application, they should take a printout for future reference.
The recruitment process will involve an online test, a psychometric test, and/or any other assessments deemed necessary for further selection. The online test will consist of 150 questions, worth a total of 225 marks, and will last for 150 minutes. All sections, except the English Language Test, will be available in both English and Hindi.
The various departments for which the recruitment drive is being conducted include:
* Rural & Agri Banking: 200 posts
* Retail Liabilities: 450 posts
* MSME Banking: 341 posts
* Information Security: 9 posts
* Facility Management: 22 posts
* Corporate & Institutional Credit: 30 posts
* Finance: 13 posts
* Information Technology: 177 posts
* Enterprise Data Management Office: 25 posts
Candidates are recommended to go through the official notification and start preparing for the selection process. The last date to apply is January 17, 2025, and the candidates will not be accepted or considered for the recruitment drive after this date.