BANK OF BARODA

SUMMER INTERNSHIP REPORT On

Customer Satisfaction

Submitted By:

Dhirukumar Hadia (11014) Batch: 2011-13

IN PARTIAL FULFILMENT OF THE MASTERS PROGRAM IN BUSINESS ADMINISTRATION, SARDAR PATEL UNIVERSITY, VV NAGAR, ANAND

G.H.PATEL POST GRADUATE INSTITUTE OF BUSINESS MANAGEMENT

PREFACE
Management studies are like a coin, which has two sides, one is theoretical knowledge and other is practical knowledge. A classroom teaching gives the theoretical knowledge while industrial analysis gives an opportunity to take knowledge of practical aspects. In this era of globalization where every moment the world is moving one-step ahead, so for a management student practical knowledge has become a key to success. There is a well-known proverb Without practical knowledge no one can achieve success. It is like experience is a best teacher. One can learn from the facing a situation. The main aim or the objective of any study is to clarify the thinking of student with respect to financial analysis Being a student of M.B.A, it is very necessary to understand the practical corporate world. Moreover in order to gain expertise in the field of marketing, one needs to be familiar with the various practical aspects of market & its segments. So I am preparing and presenting report on CUSTOMER SATISFACTION of BANK OF BARODA.

ACKNOWLEDGEMENT

I would like to take this opportunity to express my heartfelt gratitude to Dr. R M RATHOD for allowing me to work and prepare the report, under his esteemed guidance. I am greatly indebted to him for his valuable support, drive towards excellence, constructive and consistent endeavors during the course of this training. I consider myself to be fortunate enough for having got the opportunity to work under his guidance. I also thank to our library and other supporting staffs of Bank of Baroda Dumbhal Branch for their help. I will be failing in our endeavors if I do not acknowledge too many of our friends for their kind co-operation. Finally I would like to pay gratitude to all those who helped us in same way or the other during the preparation of the report.

INDEX

Sr.No.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

PARTICULARS
History of the Bank of Baroda Bank of Baroda logo (Baroda sun) Project navnirmaan Baroda next Major technology initiatives Branch network SME loan factory Wealth Management System Contact centre facility ASBA (Application Supported by Blocked Amounts) Business figures Customer behavior and product Customer Relation Management Understanding product SME banking Baroda weavers credit card (BWCC) Study of Branch Questionnaire Findings from the questionnaires filled Conclusion Bibliography

Page No.
5 8 9 12 14 16 19 23 25 26 28 31 34 38 56 59 61 66 83 84

HISTORY OF BANK OF BARODA

Bank of Baroda is having a long, eventful and glorious history of more than 103 years. Hon. Sir. Maharaja Sayajirao-III founded the Bank. The Bank made a humble beginning in 1908 in a small building in Baroda. On 20th July 1908 Bank of Baroda Limited was registered under the Baroda Companies Act of 1897, with a paid up capital of Rs. 10 lakhs. Soon after establishment, the Bank extended its operations to three other commercial centers of Gujarat namely, Surat, Mehsana and Navsari. In 1919, the Bank crossed the state frontiers by setting up Mumbai Main Office. In the year 1935 Bank became a scheduled Bank. RBI included the Bank in the second schedule of RBI and brought under direct control of RBI. The first safe deposit lockers were provided at Baroda in 1939. At the time of independence in 1947, Bank of Baroda was a regional bank with 48 branches. However, it found a place in Indias Fortune Five list of Banks. As many as 10 banks have been merged with Bank of Baroda during its journey so far: Hind Bank Ltd (1958) New Citizen Bank of India Ltd (1961) Surat Banking Corporation (1963) Tamil Nadu Central Bank (1964) Umbergaon People Bank (1964) Traders Bank Limited (1988) Bareilly Corporation Bank Ltd (1998) Benares State Bank Ltd (2002) South Gujarat Local Area Bank Ltd (2004) Memon Co-operative Bank Ltd. (2011)

MISSION STATEMENT

To be a top ranking National Bank of International Standards committed to augmenting stake holders' value through concern, care and competence.

BOARD OF DIRECTORS

1. 2.

Shri M.D. Mallya

: : : : : : : : : : : :

Shri Rajiv Kumar Bakshi 3. Shri Alok Nigam 4. Shri Sudarshan Sen 5. Shri Ajay Mathur 6. Shri Vinil Kumar Saxena 7. Shri V.B. Chavan 8. Dr. Masarrat Shahid 9. Shri Satya Dev Tripathi 10. Shri Maulin Vaishnav 11. Shri S.S. Bhandari 12. Shri Rajib Sekhar Sahoo

Chairman & Managing Director Executive Director Director - Govt. Nominee Director - RBI Nominee Director Director Director Director Director Director Director Director

BANK OF BARODA LOGO (BARODA SUN)

Bank introduced the existing logo Baroda Sun i.e. 6th June, 2005. It comprises double B letter forms that hold the rays of the rising Sun, we call this as Baroda Sun. The sun is a representation of what our bank stands for. It is a symbol of dynamism and optimism. The sun is the single most powerful source of light and energy. Its far reaching rays dispel darkness to illuminate everything they touch. The single colour, compelling vermillion palette (Pantone Code 1655C Colour combination RGB: 255, 92, 72) indicates hope and energy and indicates that at Bank of Baroda, we seek to be the source that will help all our stakeholders realize their goals. To our customer, we seek to be a one stop, reliable partner who will help them to address different financial needs. To our employees, we offer rewarding careers and to our investors and business partners, maximum return on their investment.

PROJECT NAVNIRMAAN BARODA NEXT

A comprehensive transformation programme called NAVNIRMAAN has launched by our Bank for its domestic operations on 22 June 2009. The Bank has partnered with Mckinsey & Company for this programme, which is centered around our customers and our employees, and has two core elements Business Process Re-engineering (BPR) & Organization Restructuring (OR). Why Navnirmaan? 1. Less time spent on relationship management and business development 2. Low utilization of technology 3. To reach at no.1 among PSU Banks 4. High aspirations 5. In previous 20 years, banking sector underwent sea changes, so, it needs immediate attention to realign process change.

BPR (Business Process Re-engineering)

Main Objectives Improvement in branch productivity on sales Best-in-class service levels for customer delight Redesign of front and back office processes and roles to reduce turnaround time Reduction in operating costs

Organization restructuring
Main Objectives Appropriate organization structure and systems to support BPR and be in line with future business plans, at corporate, zonal and regional offices & at branches Sustainability of change program through capability building. Navnirmaan having 5 key elements: 1. Simplified systems and processes at branches and other offices 2. World-class back offices to support branch operations 3. Alternate Channel usage 4. Redefined organization structure and roles 5. Training to Barodians for new roles

Development /Repositioning under Navnirmaan project: Project Navnirmaan has altogether 18 activities covering both BPR & Organisational Restructuring, aimed at transforming the Banks branches into a sales & service centres to make possible a sustained sales growth, superior customer experience and alternate channel migration. The most important initiatives covers : o Conversion of all metro & urban branches into Baroda Next branches within a timeline [ over 637 branches rolled out so far ] o Creation of automated & leaner Back Offices like: City Back Office Regional Back Office (6 established & 4 in the row). Establishment of two Call Centres Introduction of frontline automation at select branches for customer convenience Creation of an Academy of excellence. Total Regions increased to 49. The initial impact of Baroda Next migration has been found to be rewarding both in terms of increased customer satisfaction and CASA growth. The said
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impact has been sustained at 110 Baroda Next branches recently evaluated on (a) sales and (b) customer satisfaction. To sustain sales growth, a new Sales Operating Model has been rolled out in 53 branches in Mumbai, Surat & Baroda. Out of 15 mid-corporate branches planned, two are already functional and six are expected to commence the operations soon. Further centralisation initiatives are under progress to enable the Banks branches to become a full-fledged Sales-Cum-Service-Outlet. Banks Hi-tech City Branch in Hyderabad has been transformed into an ebranch.

CRR (Sec 42, RBI Act)

4.75% of net demand and time liabilities, to ensure liquidity and solvency to be kept with RBI. SLR (Sec 24 , Banking Regulations Act) 24% Cash in hand, Gold owned by bank, Balance with RBI/SBI and Investment in unencumbered approved government securities. Bank's present BPLR 14.75 %(wef. 01.05.2012) Base Rate : 10.50 % (wef. 01.05.2012) Repo Rate Injection of liquidity by RBI - 8.00 % Reverse Repo Rate Absorption of liquidity by RBI - 7.00 % Bank Rate - 9.00 %

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MAJOR TECHNOLOGY INITIATIVES

As on 31st Dec 2011, the Banks entire domestic, overseas and RRBs [i.e., five sponsored RRBs] related operations were on the CBS platform. Bank has developed IT facilities for online/offline account opening through Business Correspondents under Financial Inclusion. Banks retail & corporate customers enjoy several facilities under its Internet Banking Delivery Channel. The SMS alerts of transactions are also implemented in the Internet Banking Portal. Bank has implemented Internet Banking in 11 of its overseas territories , notably Oman, Tanzania, Uganda, Kenya, Mauritius, Seychelles, Botswana, New Zealand, UAE, Fiji, & UK. Bank has also implemented RaidFunds2India solution in all the major territories. Bank has built a State-of-the-Art Data Centre conforming to Uptime Institute Tier-3 standard & a Disaster Recovery Site in different seismic zones to ensure uninterrupted banking services delivery to customers. Banks Mobile Banking (Baroda M-Connect) provides various facilities to its customers. Anti Money Laundering (AML) has been implemented in India and 20 of Banks overseas territories. Bank has developed an Integrated Global Treasury Solution in its major territories like U.K., UAE, Bahamas, Bahrain, Hong Kong, Singapore, Belgium, USA and India to achieve reduced cost of operations & better fund management. Bank has a centralised SWIFT system for India & its 21 overseas territories. Internet Payment Gateway has been implemented to facilitate ecommerce transactions in multi currencies across the globe. Bank has introduced the facility of Multiple Accounts being linked to a single Debit Card (verified by Visa, CVV2) and also Mobile Number registration thru ATMs in CBS for SMS Alerts. E-tax payments thru ATMs are also facilitated and Mobile ATMs are introduced in several cities. To provide safe online banking services to its customers & protect them from phishing attacks, Bank has implemented a Fraud Management Solution. Bank has set up two Contact Centres in Lucknow & Baroda to fast addresse the customer queries & grievances.
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 Back Office functions have been centralised in the Bank at City Back Offices & eight Regional Back Offices ( at Baroda, Jaipur, Lucknow, Bhopal, Coimbtore, Kolkata, Mumbai & Jamshedpur) to improve the delivery of services. Cash Management Solution is implemented to provide operational support to customers ALM. Baroda e-trading in association with India Infoline Ltd. Roll out of HRMS and Payroll. Baroda e- Pay - Electronic Utility Bill Payment Online Loan Application Educational Loan, Home Loan, Car Loan Launching of Baroda Gift Card Introduced Visa Platinum Premium Debit Card

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BRANCH NETWORK
Metro 871 Overseas Offices Total ATMs Urban 718 SemiUrban 1045 Rural 1,270 Total 3909 (with over 43 million customers

Branches/ 89 in 25 Countries 2112

Subsidiaries (Domestic)
Nainital Bank Ltd., BOBCARDS Ltd., BOB Capital Market Ltd.

Associates (Domestic)
Baroda Pioneer Asset Management Company Ltd India FirstLife Insurance Company Limited Baroda Uttar Pradesh Gramin Bank Baroda Rajasthan Gramin Bank Baroda Gujarat Gramin Bank Nanital -Almora Kshetriya Gramin Bank Jhabua-Dhar Kshetriya Gramin Bank

Subsidiaries (Overseas)
Bank of Baroda (Botswana) Ltd. Bank of Baroda (Kenya) Ltd. Bank of Baroda (Uganda) Ltd. Bank of Baroda (Guyana) Ltd. Bank of Baroda (UK) Ltd. Bank of Baroda (Tanzania) Ltd Bank of Baroda (Trinidad & Tobago) Ltd. Bank of Baroda (Ghana) Ltd.
14

Representative Offices (Overseas)

Bank of Baroda (Thailand) Bank of Baroda (Australia)

Associate (Overseas)
Indo-Zambia Bank Ltd.(Lusaka)

15

SME Loan factories

With the aim of extending more focused services to the SME Sector, the bank has carved out a special sale and delivery model for hassle-free and faster sanction of credit proposal in the SME Sector. SME Loan Factory is divided into two divisions Central Hub and Sales Hub. Central Hub to be headed by Head (Credit) and Sales Hub to be headed by Head (Sales) and sales coordinator both are located in same premises for better liaison and coordination. Relationship Managers and Relationship officers are located at strategic designated Branches in various locations of the city, based on business potential available in the designated branches and other factors.

Role and Functions

Role of Marketing Team is to generate leads, exploring new customers and strengthening relations with existing customers. Role of Credit Hub is to examine / purse leads generated by Marketing Team for financing. Based on proposals received from successful leads, credit proposals are processed. Proposals falling under the powers of Head of SME Loan Factory / incharge of Credit Hub will be prepared and sanctioned at the Hub. And proposals beyond the powers of the Head of SME Loan will be submitted directly to the sanctioning authorities. The entire sanction procedure is to be completed within a maximum of 11 working days from the date of receipt of complete information and disbursement is to be completed within 14 days. In case TEV study is required the time taken is 20 days.

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Urban Retail Loan factories

1. These factories represent sales and delivery model based on assembly line principle engaging our people and supported by simplified process and technology. 2. The Retail factories have twin outfits comprising Sales team and Centralised Processing Cell manned by Banks specially selected and trained employees. 3. Sales executive each out to the door- steps of the customers to provide services. 4. A team of tele-callers with other functionaries makes the process of availing loan a hassle free experience for the customers.

Composite Loan factories

Bank has moved towards a further innovative step to establish a Composite Loan Factory at Mangalore, where a prospective as well as our existing borrower can avail SME and/or Retail loan under one umbrella. As we are focussing for cross - selling of our products, it is excellent step to tap the additional business. Because, now we can canvass a SME business of the firm/company and at the same time, we can go for retail business from the party in their personal capacities.

SME & RLF CPC

It is new initiatives under Navnirmaan project, where bank is going to establish few credit processing centre on pilot basis. The centre will not only go for tapping business-lead & processing of the same but also complete the documentation, disbursement & recovery.

Gen-Next Branches
To respond to the needs of the changing demographic profile of the country, the bank has been endeavoring to customize delivery channels especially for youth segment. As a part of these efforts, the bank has set up
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innovative Gen- Next branches dedicated to youth and young IT professionals at certain places. The branch will have youth specific products and will function as a model for fusion of Hi-tech and High-touch Banking. The Branch is offering following liabilities and assets products to the customers: 1. Gen Next SB account facility with AQB of only Rs. 500/ 2. Gen Next Suvidha in the form of Recurring deposits 3. Gen Next Life style Loan for purchase of furniture, vehicle, laptop etc. 4. Gen Next Power in the form of OD, 5 times of the net salary income based on credit rating.

Global Syndication Center & IMBC

1. Banks Global Syndication center at London was set up in 2000. With a view to tap the growing business opportunities in the Middle East and South East Asia Region, Bank has decided to start new Regional syndication Centres at (1) Dubai (2) Singapore and (3) Johansberg. 2. The Bank has started a specialized outfit- International Merchant Banking Cell (IMBC) at International Div. Mumbai to service the ever growing demand from Indian Corporates for funds from International markets. IMBC is also active in funding Merger & Acquisitions of domestic and overseas companies by Indian Corporates. The IMBC will arrange for syndicated loans, Bonds, FCCBs etc. And investment banking and advisory services.

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Wealth Management Services

Our Bank as part of customer centric measure initiated Wealth Management Services to provide our HNI and affluent customer a complete financial solution at one stop. The service has enabled our customers to buy various investment products through our branches and is positioning our Bank as One Stop Financial Super Market. Under Wealth Management Services currently we are offering 3 rd party products in Bancassurance, Mutual Fund, e-Trading etc. under tie up arrangement with various partners. Segment Life Insurance Name of Tie-up Partner IndiaFirst Life Insurance Co. Ltd. (Joint Venture Co. of the Bank) Products Unit Linked Insurance Plan Term Insurance Plan Endowment Plan Group Insurance Plan etc. National Insurance Co. Ltd. Baroda Health co-branded medi-insurance products for hospitalization expenses Insurance covered for assets such as vehicle, business & industries, live stock etc. from various risks. Baroda Pioneer Mutual Fund Growth/Equity Scheme (Joint venture Co. of the Income / Debt Scheme Bank) Balance Fund UTI Mutual Fund Money Market or Liquid Birla Sunlife Mutual Fund Fund Reliance Mutual Fund Gilt Fund Sundaram BNP Paribas Index Fund Franklin Templeton Tax Saving Scheme Investments Fixed Maturity Plan Kotak Mahindra Mutual Fund IDFC Mutual Fund India Infoline Ltd Trading in equity, commodities and its derivatives
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General Insurance

Mutual Fund

E-Trading

Other Major tie up / MOU of Bank with other Service providers

EXIM Bank, IDFC and SIDBI for co-financing of projects. IFCL for infrastructure development finance Bank of Baroda enters into an agreement with Bombay Stock Exchange for clearing and settlement M/s Avenue (India) Pvt. Ltd will enable customers of the Bank to shop opline, and make payments through Net Banking account. M/s Techprocess Ltd. For providing online payment solution and direct debit credit to its customers. This tie-up will enable Banks customers to shop online through Banks e-banking portal and also make utility bill payments like telephone bills, electricity bills etc. Car Finance with Tata Motors Ltd., Hyundai Motors India Ltd., Mahindra & Mahindra Ltd., Maruti Suzuki India Ltd. Tie up with Kotak Mahindra Old Mutual Life Insurance Ltd. For providing Life Insurance Cover to Education Loan borrowers and Home Loan borrowers sanctioned under a special package. MOU with CGTMSE for extending collateral free loans up to Rs. 100 lacs under Risk Sharing Facility scheme launched by CGTMSE.

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Role of Branch manager in the changing Environments

1. To move forward to transform itself into a Multi Specialist Bank with large number of branches brought under CBS, Branch Manager role is changed 360 degree. 2. From largely transaction processing and inward looking role to marketing, customer actuation and business development role. 3. He has to emerge as role model for the other staff at the branch as an effective marketing and sales ambassador. 4. To create sales and marketing environment so that front line staff will have e to don the hat of a salesman.

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E - Payment of Taxes Enabling Non-Customers and NonBaroda Connect Customers

CBS Branches to open a Current Account, under special scheme code CA 118- General Tax Remittance Account (Name of the Branch) & obtain Baroda Connect ID & Password.

Advantages to Customer
Having no Net banking facility can make e-payment of Taxes No formalities-Registration , login ID,PW etc Online check of PAN / TAN / Assessee code Confirm immediate Tax payment Challan Instant cyber receipt / counter foil with CIN, Payment details , Name of the branch Counter foil can be regenerated Tax payment for any commissionerate available On line Tax payment by branch on behalf of any individual , corporate etc No limit on amount For customer free

Advantages to Bank / Branch

Rs. 45/- per challan revenue Attract Non customer-Expand Business Corporate having many units/brs. different assessee code/PAN/TAN can pay from single point-need not required separate Bank accounts Internet banking for each account Good Non Fund based income source from a single corporate Chances for cross sell of products to HNI/Corporate

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CONTACT CENTRE FACILITY

Bank has introduced a new delivery channel the Contact Centre(call centre) for delivery of banking services through TOLL FREE PHONE. The numbers are 1800 22 33 44 OR 1800 102 44 55. Now, Banks customers and members of general public can call the Banks Contact Centre and seek information on their accounts, request for banking services, enquire on banks products, interest rates, etc. There are two call centre, at BARODA and LAKHNOW.

Benefits to the Branches

Contact centre helps branches by providing customer service over PHONE without intervention of branches. Provides information on routine queries such as Account Balance, transactions, cheque status, product enquiry, interest rate enquiry, gold rate enquiry, etc. instantly. Provides guidance to customers on Baroda Connect services. It can also (a) activate passwords & (b) take request for regeneration of passwords. Stops the payment of cheque and can take the request for issuance of cheque book in respect of RBO covered branches. Hotlists the Debit Card and takes request for reissuance of PIN or Debit Card. As the Contact Centers will be able to address most of the common queries and service requests, Branches will be relieved from such workload and would be in a position to focus their attention more for business promotion / development. Further, Bank proposes to extend functions like (a) Registration of Debit Card related complaints (cash not dispensed), (b) outbound recovery calls, and (c) outbound sales calls. The contact centre will work as extended arm of the branch facilitating marketing and sales of the banks various products.

Benefits to the Customers

Most convenient delivery channel Services are available from 8 am to 8 pm
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365 days a year, (excluding Independence Day and Republic Day) Free of Cost. Toll Free Number and hence No Cost TWO Toll Free Numbers are available to ensure uninterrupted service Customers are not required to visit branch for any services. Emergency Services Debit Card Hot-listing is easy, simple, authentic All service requests are supported by Docket Number, for further enquiry. Services for all linked accounts are available Professionally managed and Technology driven services

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ASBA (Application Supported by Blocked Amounts)

ASBA is a process developed by the Securities and Exchange Board Of India (SEBI) for applying to IPO. In ASBA, an IPO applicant's account doesn't get debited until shares are alloted. Qualified Institutional Buyers (QIBs) are not allowed to participate in IPOs through ASBA facility. ASBA process facilitates retail individual investors bidding at cut-off, with single option, to apply through Self Certified Syndicate Banks (SCSBs), in which the investors have bank accounts. SCSBs are those banks which satisfy the conditions laid by SEBI. SCSBs would accept the applications, verify the application, block the fund to the extent of bid payment amount, upload the details in the web based bidding system of NSE, unblock once basis of allotment is finalized and transfer the amount for allotted shares, to the issuer. ASBA means Application Supported by Blocked Amount. ASBA is an application containing an authorisation to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application is selected for allotment after the basis of allotment is finalized, or the issue is withdrawn / failed. It is a supplementary process of applying in Initial Public Offers (IPO), right issues and Follow on public offers (FPO) made through book building route and co-exists with the current process of using cheque as a mode of payment and submitting applications.

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Business Figures: At a glance (Rs. in Crore)

Parameter Total Global Business Total Global Deposit Total Global Advances Net Profit Gross NPA (%) Net NPA (%) ROAA (%) CAR (%) NIM (%)

31.03.2010 416079 241044 175035 3058.33 1.36 0.34 1.21 14.36 2.74

31.03.2011 534116 305439 228677 4241.68 1.36 0.35 1.33 14.52 3.12

31.12.2011 609867 349206 260661 1.48 0.51 1.29 13.45 2.99

Bank of Baroda is expecting total business growth of about 24 % over last year and to achieve a total business of more than Rs. 6,50,000 crore at the end of March 2012. Also, bank is going to achieve a domestic credit growth of 20 percent at the end of the current financial year.

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Awards for the Bank

Best Public Sector Bank (PSB) by CNBC-TV18 & MCX Golden Peacock Award for Excellence in Corporate Governance by Institute of Directors & World Forum for Corporate Governance received in London Dainik Bhaskar India Pride Award for 2011 Most Efficient Bank in Kenya Best Initiatives in Inclusive Banking FIBC Banking Award Dun & Bradstreets Leading PSB in Global Business Development Category National Award for Performance under SME Business Award for Best Utilisation of Intellectual Resources Best Growing Large Bank by Business World-PWC Business Leadership Award by NDTV- Best PSB in 2011 Award for Excellence in Financial Reporting by ICAI in PSB category

Awards for the Banks CEO (CMD)

Outstanding Financial Professional-2010 by CNBC-TV18 & MCX Best Banker Award (T. A. Pai Memorial Award) by Karnataka State Open University Lifetime Achievement Award by Dainik Bhaskar India Pride Awards Banker of the Year by Business World-PWC

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CUSTOMER BEHAVIOUR AND PRODUCT INTRODUCTION

Customer is the king of the market. All activities are cantered to the customer. Product, the most important component of marketing-mix, is a key element in the market offering. The product is the pivot around which the other elements revolve. It does not undermine the importance of the other elements, in fact facilitate the acceptance of product by the market. So, distribution strategies aim to make the product available when and where the market wants it. Pricing is concerned with making the product available at a price that is attractive to the customer and profitable to the firm. Finally, promotion element seeks to communicate the potential benefits available to the market from the product arising from its design, distribution and price attributes. Planning of a marketing-mix commences with formulating an offering to meet the target customers needs or wants. The success of marketing lies in managing the product in a manner, which would results in a product having the desired effect on the customers. It requires understanding the nature of products of products and their relationship with the customers needs. It also requires understanding how the customer response changes over a period to the products and its impact on marketing strategies. In bank marketing, the service product is developed around the customer choice/needs/preferences. The marketing strategy also depends upon the customer needs. Hence, an understanding of customer behaviour is a necessity before relationships, which provides the driving force for formulation of strategies by every type of organisation. It is an important socio-economic activity.

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CUSTOMER BEHAVOUR MASLOWS HIERARCHY OF NEEDS

While considering the marketing of a product, whether a physical or a service product, we must understand the customers need as per Maslows theory of needs and human behaviour: Physiological needs - food, drink, oxygen, sleep Safety needs - avoidance/protection from threatening situation and economic security Social needs - friendship, affection and sense of belonging Esteem needs - self-respect, recognition, status and success Self-actualisation - self-fulfilment

FAMILY LIFE CYCLE

Everything has a life cycle during which changes keep taking place. Similarly, for a human being, the study of life cycle is important from the angle of marketing. The family life cycle is divided into four stages and the financial statuses vis-a-vis banking needs are given in the table: -

STAGES Young bachelor

FINANCIAL

BANKING NEEDS

Per capita income high, as Credit cards, auto loan, low no dependants. Few cost banking services. financial burdens.

Half nest (married Home buying priority, low Mortgage loan, credit card, with young liquidity overdraft, durables loan children) Full nest (older Income stabilised, couple, grown up financial position children) Empty nest (older Significantly couple) income good Home improvement, equity investment, flexi-deposit, investment reduced Social security services, some loans

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LEARNING AND HABIT DEVELOPMENT

An individuals buying behaviour is influenced by his perception of himself and the things around him. His perception is affected by his self-concept, needs, motivation, and knowledge, past experience, feelings, attitudes and personality. The customer behaviour is also influenced by the learning and developing new habits. As an objective of marketing, the customer is taught the use of the product. Learning is a trial & error process whereby needs, motives or drives are triggered by some cue to cause the individual to respond in an effort to satisfy the need. The advertisement may work as a cue while purchase is a response to the cue. The repeated advertisement reinforces the learning process. When learning is reinforced a lot and repeat behaviour is produces, it may result in a purchasing habit. The marketers break habit by giving by giving free samples, introductory trial offer and special discount on opening and generate new clientele. In habit acquisition, an attempt is made to build a product preference habit. Once customer makes the purchase, the habit reinforcement is done to get them to remain habitual users.

INFLUENCE ON DECISION-MAKING
Mans attitude and behaviour are influenced by several levels of society culture, sub-cultures, social classes, reference groups and face-to-face groups. The most enduring influences are from culture. Subcultures are regional entities, religion, nationality, fraternal order provide board identification to the person and thus influence his decision-making process for buying product. The individual at times needs to identify himself with a reference group even though he may not be a formal member of such group. The behaviour of the group influences his buying decision. Face-to-face group many a time gives an individual the support for decisionmaking. This group consists of friends, colleagues, neighbours, family members, etc.

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CUSTOMER RELATIONSHIP MANAGEMENT

Relationship marketing is the attracting, maintaining and nurturing relationship with customer in a multi-service organisation aimed at customer relations. OBJECTIVES OF RELATIONSHIP MARKETING Long-term customer retention Relationship with external market who influence or provide referrals Integrating marketing activities, customer service and quality standards CRM concept and the database becomes the focal point for all marketing activities from customer loyalty programmes to internal communication.

TRANSACTION MARKETING
Single sale focus Product feature oriented Short-time frame Low emphasis on customer service Moderate customer contact Moderate quality concern ACTIVITIES UNDER CRM 1. 2. 3. 4. 5. 6. 7.

RELATIONSHIP MARKETING
Customer retention focus Product benefit oriented Long-time scale High emphasis on customer service High customer contact High quality concern

Establish and maintain a customer information database Planning customer contact points Analysing informal customer feedback Conducting customer satisfaction survey Managing communication programmes Hosting special events Auditing and reclaiming lost customers

GAP ANALYSIS The CRM tries to close the gap in the customer perception and the firms perception by finding and analysis the GAP
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The first gap is between the service expected by the customer and company perception of customer expectations. It occurs due to inadequate market research orientation, lack of upward communication and insufficient relationship focus. The next is between the customer driven service designs and standard vs. Company perception of customer expectations about the service designs and standards. This occurs due to an absence of customer driven standards, inadequate service leadership and poor service design. The third gap is about delivery of service provided by the customer and firms perception about customer expectations. This is caused by deficiencies in HR policies, failure to match supply and demand and customers not fulfilling roles. In the next stage, there lies the gap between the service delivery to the customer and external communication to the customer by the firm. This is the result of ineffective management of customer expectations over promising and inadequate horizontal communication. Fifth gap is the ultimate gap between expected service and perceived service, which is the result of all the above gaps.
Expected services
GAP 5

Perceived delivery
GAP 4

External Service delivery

GAP 1 GAP 3

Communications To customers

Customer driven service designs and standards

GAP 2

Company perceptions of customer expectations

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Changing Loyalty
In banking services, retaining the existing customer has become a big challenge. The more the banks are improvising their systems and mechanism for better relationships, the more the customers are losing their loyalty to the bank. Earlier the customer hesitated to move to the other banks and simple loan sanction from its bank, but now even for the deposit product, the customer dose not mind shifting his business to other bank where he gets better returns. The customer has become more informative about the products, rates, rights and obligations and has become cost conscious. The relationship marketing will help bankers to live up to the expectations of the customers and retain the existing customers.

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UNDERSTANDING PRODUCT
DEFINITION Kotler has defined product thus,

A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
Theodore Levitt has described product as: To the buyer, a product is a complex cluster of value satisfaction.....A customer attaches value to a product in proportion to its perceived ability to help solve his problems, or meet his needs...The product is the total package of benefits the customer receives when he buys it.....

PRODUCT LEVEL

POTENTIAL PRODUCT AUGMENTED PRODUCT EXPECTED PRODUCT BASIC PRODUCT CORE BENEFIT

34

A product has a customer value hierarchy emerging from the five levels of the product, namely, core benefit (soap implies cleanliness, convenience of operation and some interest earning), basic product (a business centre include a cabin, a table and a chairs, telephone connection, lights, air-conditioning, saving bank account with cheque book facility), expected product (bank customers expect correct accounting transactions, getting withdrawals of their money on demand, correct and timely interest receipts), augmented product (an airlines offers executive waiting lounges at the airports with facilities for shower, refreshment, newspapers and periodicals, internet and fax connections; saving bank account with anywhere banking facility, debit card with no cost, demat accounts at discounted fees), and potential product (possible future augmentations, like electronic cheques, access through a special display telephone that dispenses a snapshot statement). Today success in marketing is not merely satisfying the customers but delighting them with unanticipated benefits. The competition today essentially takes place at the augmented product level and the firms strive to reach the potential product level.

THE BANKING PRODUCT

Banks are in the business of accepting deposits for lending or investment. The distinguishing feature of banking from the finance companies is the payment and settlement facility it provides to its customers. What constitutes a banking product? Is it each individual service in which bank is engaged say clearing of cheques, execution of standing instructions, etc., or the entire package of services provided by the bank is a single product? While there can be several views on this issue, one generally accepted view is that a banking product is: a service or a package of services that(i) Is typically provided for anyone consumer by one bank only, the consumer may buy different product items or product lines from different banks but the bundle or package under one product item cannot be purchased from different banks. Customer cannot keep account in one bank and obtain chequebook from another bank.
35

(ii) Is aimed at a particular market. A banking product may alter according to changes in purchasing preferences or the promotional emphasis. A typical retail banking product mix is given in the below table. REGULAR ACCOUNT Saving account Current account DEPOSITS Fixed deposits LOANS Vehicle loan OTHER SERVICES Telephone bill payment Safe deposit lockers Demand drafts Bankers cheques, mail transfer, cash remittances, demat accounts

Anywhere banking account Senior citizens Multiple account deposits

Cumulative fixed Housing loan deposits Recurring deposits Personal loan unit Credit card, gold credit card, festival loan, holiday loan

BANK PRICING There are two major costs, which have to be considered while pricing bank products: A. Interest cost B. Servicing cost Normally interest cost constitutes 67 % of the price and service cost is around 33 % in any bank product. Banks now price each of their services. The services, which are associated with the product, are also priced now. Traditionally, banks have been adopting pricing (ROI) on the basis of values of loans or based on the development of priorities. But these days, the ROI offered on the deposits and

36

charged on the loans and advances is (a) costs of funds based and (b) market related. Banks have also started levying a fee for all the services. In the past, these fees were at times included in the rate of interest. In previous paragraph, we have indicated pricing strategies adopted by the banks. It can be inferred, therefore, that strategy of the bank and competition is more apparent in retail products. Banks have also started using competitive pricing in their traditional business. Table given below gives certain examples of charges banks charge for some of the services.
For not maintaining minimum quarterly Rs. 300/- per quarter average balance in saving bank a/c SB chequebook Multi-city chequebook balance Rs. 50,000/Inter-city charges Charges for not maintaining quarterly average balance in CA A/c closure within a year Transactions Standing instructions Cash handling quarterly Rs. 3/- per leaf in excess of 20 leaves in a year average Per cheque leaf 5/-, penalty 500/- transaction charges Rs. 100/- per Rs.50,000/0.35% above 20,000/- with a minimum of Rs, 50/minimum For individuals 750/- per quarter for others Rs. 1350/- per quarter SB 220/-, firm 500/Rs. 20/- per transaction beyond 60 transactions a year Registration Rs. 110/-, Rs. 25/- per transaction for other than branch accounts CA. CC, above Rs. 10,000/- to Rs. 50,000/Rs. 10/-, Rs. 25/- and Rs.50/-

Inoperative account where balance is below Rs. 75/- per year minimum required Old entries beyond 12 months Attestation of photo Signature verification DD issue charges Revalidation of DD Issue of duplicate DD Rs. 150/- per entry Rs. 100/Rs. 50/Rs. 30/- up to Rs. 10,000/-, 0.35% above Rs. 10,000/Rs. 100/Rs.110/-

37

SME BANKING

How SME sector is defined by our Bank ? 1. Our bank has expanded the coverage of the SMEs well beyond the RBI definitions of SME, All banking business (Assets & Liabilities) with companies / entities with annual gross sales turnover / income upto Rs. 150 crore is to be covered under ambit of SME for our internal purpose for promotion of business across these segments. However for reporting purpose the statutory definition is to be followed. 2. For our internal purpose SME sector will consist of Professionals, Traders, Micro & Small Enterprises and Medium enterprises as defined by the RBI, clubs, trusts with large investable assets and all other entities (nonindividuals) with their annual turnover upto Rs. 150 crores. 3. The entities falling under revised guidelines of our bank for SMEs will be governed by loan policy guidelines as applicable to C & I. Definition of SME Sector (As per ammended MSMED Act 2006) The MSMED Act classified SME units into two categories : Micro, Small and Medium Enterprises Particulars In case of Mfg. Enterprises, original investment in Plant and Machineries In case of Service Classification Sector Enterprises, original investment in Equipments Upto Rs.10 lacs Priority Sector Advance Priority Advance Sector

Micro Enterprise s Small Enterprise s Medium Enterprise s

Upto Rs.25 lacs

Above Rs.25 lacs and Above Rs.10 lacs upto Rs.500 lacs and upto Rs.200 lacs Above Rs.500 lacs and Above Rs.200 lacs upto Rs.1000 lacs and upto Rs.500 lacs

NonPriority Sector Advance.

38

Credit Rating (SMERA, NSIC-CRISIL) in case of SMEs (but not qualify for Basel II norms of Capital Adequacy
Internal credit rating as per new credit rating model will be continued, as hitherto. In addition to this, the credit rating by external agencies like SMERA, NSIC-CRISIL etc. is compulsory in all Medium Enterprises accounts going for expansion and fresh sanction involving exposure above Rs.500 lacs (increased from Rs. 50 lacs). SMERA Rating is not mandatory for SSI units. However, rating of the SSI units is preferred.

Disposal of loan applications OF SME Borrowers

1. In respect of loans up to Rs. 25,000/- within one week of receipt of loan applications provided it is complete in all the respects and duly accompanied by a checklist. 2. In respect of other cases for loans above Rs. 25,000/- and up to Rs. 5/lacs, within a period of two weeks on receipt of duly completed loan applications in all the respects and accompanied by a checklist. 3. In respect of loans over Rs.5 lacs, within a period of 30 days on receipt of duly completed loan applications in all the respects and accompanied by a checklist. 4. All such loan applications which are complete in all the respects and accompanied by a checklist should also be acknowledged by the bank branches on the same day, i.e. on the date the application is received by the branch.

Working Capital Assessment for SMEs

1. Assessment of WC finance upto limit of Rs. 5 crs. should be done on turn over method as recommended by Nayak Committee ( 20% of the projected turn over method) or Ist method of lending as recommended by Tondon committee, whichever is higher. 2. WC limits above Rs. 5 crs is to assessed as per PBF method of lending.

39

Credit Rating
1. Credit Rating in advances a/c from amount Rs.2 lac to Rs. 200 lac should be done as per format prescribed in our circulat BCC/BR/101/194 dated 13.07.2009. 2. Credit Rating in advances a/c from amount above Rs.200 lac should be done though CRISILRAM module. Margin (a) For Term Loan In case of factory land & building, overall margin of 30% In case of Plant & Machineries and Equipment margin is proposed at 25% In exceptional cases, finance may be made available against second hand machinery, with a minimum margin of 40% at the discretion of sanctioning authority, keeping in view the extant guidelines for financing against second hand machinery. (b) For Working Capital 25% uniform margin is proposed on stocks and receivables. For export credit margin may be stipulated @ 10 %. The next higher authority is authorized to reduce margin maximum by 5% in deserving cases in respect of Land & Building & Plant & Machineries & Equipments/Current Assets. If deviation is proposed beyond 5 %, ED / CMD is authorized for the same. BRANCHES TO BE DESIGNATED AS SME BRANCHES At present, 64 branches are designated as Specialized SME branches. These branches are expected to have 60% of their lending to SME sector. Based on ASCROM data, all branches having more than 60% of their lending to SME Sector will be identified and the branches having 60% of their loan portfolio to SME Sector for 2 consecutive quarters will be designated as SME branches.

40

 Designated SME branches will focus on SME lending. These branches will be authorized to collect taxes etc.

41

SME PRODUCTS BARODA SME LOAN PACK S.N.

1

Parameters
Eligibility

Particulars
All commercial Enterprises, i.e.S&M enterprises, and other entities(including service sector) with sales turnover upto Rs. 150 crores exclusively banking with us. New borrowers if desirous of having sole banking arrangement with us. W.C as well as capital expenditure related to borrowers business 4.5 times of borrowers tangible net worth as per last audited B/S or Rs 5.00 crores whichever is lower. assessment as per Nayak Committee Fund based and non fund based as per the borrowers requirements, within overall composite limit sanctioned 25% on all the facilities As per credit rating

2 3

Purpose Composite Limit

Delivery of Product

5 6

Margin ROI

42

OVERDRAFT AGAINST LAND & BUILDING

S.N.
1 2 3

Parameters
Nature of Facility Purpose Limit

Particulars
Overdraft To meet fund based Working capital requirements To augment long term Margin requirements Minimum Rs 25 lac for Rural/ SU /U branches Maximum Rs.50 lac for Rural, Rs 200 lac for SU & Rs 500.00 lac for Urban branches Proprietorship, partnership firms, Pvt / Public Ltd Company engaged in Manufacturing and/or service sector of any commodity goods. 1. Satisfactory credit rating (BOB-6 and above). 2. SMEs established in the line of business for a minimum period of 2 years and financed/proposed to be financed under sole banking. 3. In case of new Mfg/Service sector units(other than Retail Trade), facility may be considered if unit is established by our existing customers having satisfactory track record and the same is set up from their own sources. 4. Mfg and Service Sector units (other than Retail Trade) having less than two years establishment may be considered with the prior approval of one authority higher than the Sanctioning authority. 5. In case of take over of accounts in addition to the Product norms, the norms prescribed in Dom. Loan Policy /SME Policy 2009 should be complied with. 40% of the Market Value of the property Mortgaged. Regional Head may reduce to 35%. 12 Months

Eligibility

Margin

Period

43

ROI

9 10

Sanctioning Authority Method Assessment

As per Banks extant guidelines Note: ROI is not linked with credit rating. But credit rating is to be done as per banks policy. As per discretionary lending policy of Manufacturing sector: As per Nayak Committee recommendations viz, Min 20% of accepted turnover, or, under PBF method, whichever is higher. Service sector: 20% of projected gross receipts subject to verification of ST returns of previous years/ quarters in case the enterprise is not under audit. Note: Drawal for working capital (Fund based and non fund based) should not exceed advance value of L&B/sanctioned limit whichever is lower. Cur. Ratio SE-1.17 ME-1.20 SMEs(Expanded) 1.33 DE Ratio (Existing Accounts) TTL: 3:1 TOL-4.5:1 DE Ratio (Take over A/cs) TTL: 3:1 (SE-4:1)TOL4.5:1 Assets Coverage Ratio 1.50 Stock/book debt statement to be obtained on half yearly basis. Facility under the scheme and as well as under usual scheme not to be considered simultaneously. Existing borrowers can get their facilities transferred to OD against Fixed Assets after compliance of terms and conditions.

11

Financial Ratios

12

Other Conditions

44

BARODA LAGHU UDHYAMI CRDIT CARD (BLUCC) S.N. Parameters Particulars

1 Purpose To Provide hassle-free credit facilities to Small Business Units, Retail Traders, Artisans, Village Industries, Small Scale Industrial Units and Tiny Units, Professional and self employed etc. All existing customers in the categories of Small Business, Retail Trade, Artisans, Village Industries, Prof.& Self Employed persons etc having satisfactory track record / dealing with the bank for last 3 years. Maximum upto Rs 10 lac per borrower

Eligible Borrowers

3 4

Limit

6 7 8 9

Assessment of For Small Business, Retail Traders: Limit 20% of annual Turnover declared for tax purposes or, last 12 months turnover in the operative account Whichever is higher (Where sales tax returns are not available, turnover in the a/c in the last 2 years may be taken into consideration For Professional & self Employed Persons: Limit equal to 50% of their gross annual income as per IT return For SSI including tiny sector: Based on Nayak committee recommendations. Period / The limit fixed under the scheme will be valid for a period of Validity three years subject to internal annual review based on the conduct / operations of the account. Interest @ PLR or as advised from time to time Security Margin Insurance Hypothecation of stock in trade, receivables, machinery, office equipment etc 25% May not be insisted for limits upto Rs 25000/-

45

BARODA ARTISANS CREDIT CARD (BACC) Parameters S. N.

1 Purpose To Provide adequate and timely assistance to the artisans to meet their credit requirements both investment needs as well as working capital in a flexible and cost effective manner. The scheme is implemented in R & SU areas. Eligible All artisans involved in production / manufacturing Borrowers process. Preference given to artisans registered with Development Commissioner (Handicrafts), Thrust on cluster of artisans joining SHGs. Beneficiaries of other Govt Spo Loan Schemes will NOT be eligible for coverage under BACC scheme. Limit Maximum Rs 2 lacs per borrower Fixation of On the basis of W.C.+ Cost of tools & equipments Credit required for carrying out mfg process on the basis of Nayak committee recommendations (20% of anticipated T/O). Period Max 3 years subject to annual review Margin For Limits upto Rs. 25000/- : No Margin For Limits above Rs. 25000/but up to Rs. 2 lacs : 15% to 25% Margin Security Hypothecation of assets financed under the scheme. ROI As per RBI norms for advance / loans upto RS 2.00 lacs Insurance For Limits upto Rs 25000 may be waived. For beyond Rs 25000 banks extant guidelines to be followed. Group Insurance Beneficiaries registered with the Development Commissioner (Handicrafts) would be eligible for the Group Insurance Scheme Premium Govt: Beneficiaries=60:40 or mutually agreed between the parties

Particulars

3 4

5 6

7 9 10

11

46

SME SHORT TERM LOANS S.N.

1 2 3

Parameters
Purpose Enterprises Group Eligibility

Particulars
To meet genuine businesss temporary shortfall / mismatch in liquidity. Small and Medium sized Corporate, Business and Trading Houses (incl. partnership firm) 1. Satisfactory credit rating for the last three years (BOB4 and above). 2. Accounts with continuous decline in credit rating will not be eligible. 3. Satisfactory financial performance in terms of sales / turnover and profits. Negative variance, if any, should not be more than 10%. 4. Satisfactory dealing and no major inspection/ audit irregularities. Upto 25%of the FB Working Capital Limits for BOB-1, BOB-2 & BOB-3 rated a/cs & Upto 20% of the FB Working Capital Limits for BOB-4 rated a/cs, subject to a minimum of Rs 10 lacs and maximum of Rs 250 lacs First Charge or extension of existing first charge / Equitable mortgage of fixed assets of the company / firm, ensuring that there is a min. asset cover of 1.25 Extension of Charge on Current Assets for the additional facility ensuring that adequate DP is available. Extension of all existing guarantees of Directors / Third Party Guarantee to cover the additional facility Not exceeding 180 days (min 90 days)

Amount Loan

of

Security

Period

47

SME MEDIUM TERM LOANS

S.N. 1 Parameters Purpose Particulars To augment enterprises Working Capital gap and to help in improvement of current ratio and also for meeting genuine business requirements. The facility will be available for repayment of secured and unsecured loans of other banks or institutions, but purpose related to the enterprises activity. Small and Medium sized Corporates, Business and Trading Houses (including partnership firm) 1. Satisfactory credit rating for the last three years (BOB-4 and above). 2. Accounts with continuous decline in credit rating will not be eligible. 3. Satisfactory financial performance in terms of sales / turnover and profits. Negative variance, if any, should not be more than 10%. 4. Satisfactory dealing and no major inspection/ audit irregularities. 5. D/E Ratio should not be higher than 4.5:1 and TTL and equity ratio should not be more than 3:1. 6. Average DSCR should not be less than 1.75:1 Upto 25%of the FB Working Capital Limits for BOB-1, BOB-2 & BOB-3 rated a/cs & Upto 20% of the FB Working Capital Limits for BOB-4 rated a/cs, subject to a minimum of Rs 25 lacs and maximum of Rs 500 lacs First Charge or extension of existing first charge / Equitable mortgage of fixed assets of the company / firm, ensuring that there is a min. asset cover of 1.25 of Not exceeding 36 months, to be repaid equal quarterly or half-yearly installments Repayment penalty of 1%, if loans prepaid with in 24 months of drawdown.
48

2 3

Enterprises Group Eligibility Criteria

Loan Amount

Security

6 7

Period Loan Penalty

Time Limit for Decision

Upto Branch power -5 working days, Beyond Branch power- 10 working days

49

BARODA SME GOLD CARD

S. N .
1

Parameters

Particulars
To provide hassle - free, borrowers emergent requirements and temporary mismatch in liquidity arising out of delayed payment buyers, tax payment, execution of bulk-orders etc Accounts in Standard Category for last 2 years, with Obligor Credit Rating of BOB4 above and enjoying Working Capital limits of Rs. 25 lacs and the above. Accounts having sole banking arrangement with our Bank. In case of Take over of A./c, no deviation will be allowed As applicable for regular Cash Credit facility depending upon applicable credit rating. Charge on current assets, extension of charge on fixed assets if stipulated for Cash Credit Personal Guarantee of Directors Collateral Security as available to other facilities. 10% of the assessed MPBF by way of Working Capital Facility. NIL 12 months to be allowed on 4 occasions during the year for a maximum period of 2 months on each occasion. However, there should be a min. gap of 15 days between two drawals.

Purpose

Enterprises Criteria

3 4

Rate of Interest Security

5 6 7

Quantum Loan Margin Period

of

50

Baroda Vidyasthali Loan

S.N. Parameters Particulars

1 2 Objective PURPOSE Baroda Vidyasthali Loan is a special scheme for financing Educational Institutions. Construction / expansion / renovation / modernization of education institute. Purchase of instruments for imparting education/training. Land cost not more than 20% of project cost subject to undertaking to complete the building construction within two years. Overdraft to meet short term requirement on the basis of cash budget subject to the institution is profit making and do not have any liability of other bank. Educational institutions, Schools, Colleges and other education bodies running education activities Note : HUF are not eligible. Minimum Rs.25 lacs Maximum Rs.1000 lacs Equitable mortgage of Land & Building (not agricultural land), if it is restricted by the affiliating authority, alternatively, other property in the name of promoters/institute may be obtained. Hypothecation of Instruments & Equipment acquired out of the loan and other assets of the Educational Institution. Personal guarantees of the Promoters of the Institution. 25% of the cost of the project / all the facilities

ELIGIBILIT Y LIMIT SECURITY

4 5

6 7

MARGIN

8 9

Method of For working capital Against fee collection for one Assessment semester with 25% margin. Assessment on cash budget system. OD should be liquidated within 6 months, max. 2 times in a yr. REPAYMEN Maximum 84 months including moratorium period of 2 T PERIOD year, depending upon the cash flow. Other TEV may not be required irrespective of project cost. Disbursement of the loan- direct to the suppliers of Conditions
51

equipments, in other case CA / Architects certificate after inspection as per banks guidelines. Credit rating of the account to be carried out as per banks extant guidelines and the borrowers with credit rating of BOB-6 and above only to be financed. Minimum Security Coverage should not be less than 125%. Ratio: CR-1.17(in case of OD), D/E-3:1, DSCR(Av)-1.75

52

Baroda Arogyadham Loan S.N .

1 2

Parameters
Objective PURPOSE

Particulars
Baroda Arogyadham is a special scheme for financing Medical Institutions. Setting up of new Nursing Home/Hospital including Pathological Laboratory Expansion/renovation/modernization of existing Nursing Home/ Hospital including Pathological Laboratory. Purchase of medical diagnostic equipments as also office equipments, viz. computers, ACs, office furniture, etc. Purchase of ambulance To meet working capital requirements. Construction of rest house, staff quarters SMEs as per regulatory and expanded definition. However, the main Promoters should have requisite qualification in any branch of medical science from a recognized University and should have minimum 2 years of work experience. Rural Centres - Rs. 50 Lac Semi-Urban Centres - Rs. 6 crores Urban & Metro Centres - Rs. 12 crores Notes : Working Capital limits upto 10% of the annual sale or gross income, subject to 20% of the above ceiling limits in case of borrowers requiring both Term Loan and working capital facilities. In case of borrowers requiring only working capital limit, 20% of the above ceiling limit. Term Loan 1. Mortgage of Land & Building/ Premises of Nursing Home/ Hospital. 2. Personal Guarantees of Promoters. (Will not be applicable in cases covered under CGTMSE)
53

ELIGIBILITY

LIMIT 4

SECURITY

6 7 8 9

MARGIN

3. Hypo. of equipments and instruments arising out of loan. 4. Extension of charge in case of existing nursing home/hospital going for modernization/ expansion/ renovation. Working Capital 1. Hypo of medicines, receivables and other chargeable current assets. 2. Ext. of charge on fixed assets, both movable and immovable. 25%

RATE OF As per credit rating of the borrower. INTT REPAYMENT 35 months to 84 months including moratorium depending upon the cash flow. PERIOD Other TEV may not be required irrespective of project cost. Disbursement of the loan- direct to the suppliers of Conditions equipments, in other case CA / Architects certificate after inspection as per banks guidelines. Credit rating of the account to be carried out as per banks extant guidelines and the borrowers with credit rating of BOB-6 and above only to be financed. Minimum Security Coverage should not be less than 125%. Ratio: D/E (TTL/TNW) -3:1, DSCR(Av)-1.75, Op. Profit Margin Min.10%, Min. Interest Coverage 2

54

CREDIT GUARANTEE SCHEME OF CGTMSE Sr No

01

Parameters
Purpose and Limit

Particulars
To provide collateral free loans upto Rs. 100 lacs to Micro & Small Enterprises ( both in the manufacturing sector as well as in the Service Sector Micro & Small Enterprises ( both in the Manufacturing Sector as well as in the Service Sector except Educational institutions, Finance to SHGs Term Loan and / or Working Capital / Non Fund Based facility like LC, Guarantee etc. As applicable to SME sector Current / Fixed Assets of the unit. No Collateral / Third Party Guarantee 75%, however credit facility upto Rs. 5 lacs, coverage is increased to 85%. One time guarantee fee @ 1.50% and annual Service Fee of 0.75% 50 : 50 upto credit limit upto Rs. 50 lacs Above Rs. 50 lacs upto Rs. 100 lacs, the entire fee should be recovered from the borrower

02

Eligibility

03 04 05 06 07 08

Nature of Credit Facilities Rate of Interest Security Guarantee Cover Guarantee Fee and ASF Sharing of Guarantee fee and Annual Service Charge

55

BARODA WEAVERS CREDIT CARD (BWCC)

ELIGIBILITY All weavers and ancillary workers involved in weaving activities (including new borrowers who are otherwise eligible for credit facilities for carrying out the proposed activities under any of the existing bank schemes) would be eligible. Preference would be given to weavers identified under the Third Census of Handloom weavers conducted by Development Commissioner (Handlooms), Ministry of Textiles as well as to weavers identified by the State Governments. All existing weaver borrowers of the bank enjoying credit facilities and having satisfactory dealings with the bank will also be eligible to avail credit facilities under the scheme for a three year period as also the benefits from simplified procedures stipulated under this scheme for availment for such credit. ISSUE OF CARDS The beneficiaries under the scheme will be issued with a Photo Weaver Credit Card (WCC) indicating sanctioned limit and validity period of credit facility. FIXATION OF CREDIT LIMIT The maximum limit to individual weavers will be up to Rs. 2/- lacs. The limit is expected to be utilized as a revolving cash credit and will provide for any number of drawals and repayment within the limit. However repayment schedule will be fixed for the portion of loan availed for the purchase of tools and equipments based on repayment capacity up to 84 months. The limit sanctioned would normally have a validity of three years with review every 12 months.

56

MARGIN Normally, no margin will be required for limits up to Rs. 25,000/-.The limit above Rs.25000/- to Rs.2.00 lacs will have margin of 20%. VALIDITY/RENEWAL OF LIMIT The Credit Card would normally be valid for 3 years subject to an annual review. No unified processing and Documentation charges to be charged as the maximum limit is up to Rs.2/- lacs. No fees will be charged at the time of review/renewal of card. SECURITY The limits sanctioned will be secured by way of primary charge over the assets financed. No collateral security is to be stipulated. As far as possible all the accounts to be covered under CGTMSE. However, the requirement of a credit guarantee cover from CGTMSE should not be a pre-condition for issuance of a Weaver Credit Card. Insurance Insurance cover of the assets financed to be obtained under the scheme as per the extant guidelines. RATE OF INTEREST: As per the extant guidelines of the bank. GOVERNMENT SUPPORT TO HANDLOOM WEAVERS Based on Third National Census of Handloom Units & Allied Activity Workers, Government has identified 550 handloom clusters containing 300500 weavers for nurturing under Integrated Handloom Development Scheme (IHDS). Out of funds allotted for development of the clusters in many places, cash support is being offered to weavers to facilitate availment
57

of bank loan. These could be in the form of margin money support up to Rs. 4,200/- per weaver and/or interest subsidy up to 3% on bank loans and/or reimbursement of one time guarantee as applicable (1% at present) and annual service charges as applicable (0.5% at present) for a period up to 3 years payable for guarantee cover under CGTMSE.

58

STUDY OF THE BRANCH (Dumbhal)

TOKEN SYSTEM

Bank of Baroda has unique system of token. When customer comes in the bank premises he has to take the token from the token machine and sit in the waiting when any customer service officer will be free he/she press the button and the table no and token no display on the television of the token machine. Because of the token system the service will be speedy and qualitative. There is no queue on the table so the officer will give best service to the customer.

PROBLEMS TO THE CUSTOMERS

There is big queue in the cash counter but when I ask about that to the joint manager Mr. Harshal Upadhyay. He explain me that there are more no of customers are from other branch A/c holder means no. of other branch transactions are high in compare of our branch transactions. There are some problems to customers like the connectivity problem, ATM problems. ATMs of the Dumbhal branch are very used because of the market area of Sahara darwaja and APMC market. So the ATMs depreciated and their life is less than expected so the machines are create problems of more amount debited to the customers A/c. so the customer beware to use the ATMs.

SUGGESTIONS

The ATM card vender officer have to call all the card holder because cardholder dont know that they have to go at branch to get ATM. This calls cost more to the bank, if we use the free SMS services from the INERNET sites like
59

www.way2sms.com and other sites from where we can send SMS to the customers to get their ATM cards and other notifications. The other solution is that if the bank updates the finnacle (core banking solutions) and automatic send the SMS to the customers. So we can reduce our telephone bill and also give best services to our customers.

60

Questionnaire
We are happy to present this questionnaire regarding Customers Satisfaction pertaining to Bank Of Baroda. This questionnaire is prepared as a part of Marketing Project at BANK OF BARODA As a part of curriculum at G.H.Patel PG Institute of Business Management (MBA Programme), Sardar Patel University, Vallabh Vidyanagar, Anand (Gujarat). Kindly give your response to few objective types of questions that you also find very interesting to know. We assured you that this data will be used for academic purpose only. Thanking You,
(DhiruKumar D. Hadia) Personal Information of Respondents Name: _______________________________________________________________ Age: Below 25 26 to 35 Gender: Male Female Qualification: Under Graduate Post Graduate Occupation: Service Profession Type of Account (Please tick mark the different types of account you used) Saving Account Current Account Recurring Account Business Graduate 36 to 45 Above 46

61

Kindly read the following questions and tick mark your answer. A 1 PERSONNEL (EMPLOYEE)AT BANK OF BARODA What do you think about the knowledge and the skills of the personnel? Perfect 2 Good Should be Improved

What do you think about the responsiveness of the personnel? Very satisfied Satisfied Moderately satisfied

What do you think about your relationship with the personnel of the bank? Very friendly Friendly Typical

How often the personnel (bank employee) can understand and satisfy your needs?

Always

Often

Sometimes

B 1

PRODUCTS (CORE SERVICES OF BANK OF BARODA) What is your opinion about the variety of products/services offered by bank? Large Typical Small Dont know

Which is your satisfaction level from the provided interest rates? Very satisfied Satisfied Moderately satisfied (charges of the provided products and

Which is your satisfaction level from the cost services)? Very satisfied Satisfied

Moderately satisfied
62

What do you think about banks special products (leasing, factoring,bank-assurance,etc.)? Very satisfied Satisfied Moderately satisfied

C 1

IMAGE OF BANK OF BARODA Which is your opinion about the credibility of your bank? Very satisfied Satisfied Moderately satisfied

Do you believe in the technological excellence of your Indian commercial bank? Yes No

Do you believe that your Indian commercial bank can satisfy your future needs? Completely Sufficiently Not completely

FACILITATING SERVICES OF BANK OF BARODA

What do you think about the appearance of Bank?

Attractive and functional

Typical

Should be improved

Which is the average waiting time in bank?

Less than 5 min

5-15 min

More than 15 min

Which is your opinion about the service processes in bank?

Functional

Typical

Bureaucratic

63

The information you receive from the bank (new products, account statements, etc.)

is.Complete

Sufficient

Should be Improved

ACCESSIBILITY OF BANK OF BARODA

Which is your opinion about banks network (branches, ATMs, etc.) Very expanded Expanded Not so expanded

How often the service system appears troubles (strikes, damaged ATMs, etc.)? Rarely Sometimes Often

Which is your opinion about the location of Bank? Very convenient Convenient Not so convenient

F 1

OVERALL SATISFACTION Overall, which is your satisfaction level from the personnel (employee) of bank? Completely satisfied Moderately satisfied Very satisfied Dissatisfied Satisfied

Overall, which is your satisfaction level from the products &services of bank? Completely satisfied Moderately satisfied Very satisfied Dissatisfied Satisfied

64

Overall, which is your opinion about the image of bank? Very good Good Moderate

Overall, which is your satisfaction level from services of bank? Completely satisfied Moderately satisfied Very satisfied Dissatisfied Satisfied

Overall, which is your satisfaction level from the accessibility provided by bank? Completely satisfied Moderately satisfied Very satisfied Dissatisfied Satisfied

Overall, taking into account all your previous answers (five parameters), which is your satisfaction level from the collaboration with bank?

Completely satisfied Moderately satisfied

Very satisfied Dissatisfied

Satisfied

65

Findings from the questionnaires filled

66

1. Age
Frequency Below 25 26 to 35 36 to 45 Above 46 Total 21 8 1 5 35 Percent 60.0 22.9 2.9 14.3 100.0 Valid Percent 60.0 22.9 2.9 14.3 100.0 Cumulative Percent 60.0 82.9 85.7 100.0

Interpretation
From the survey it has been found out that out of 35 respondents 21 are aged below 25, i.e. 60% of the total population. 8 persons belong to the age group of 26 to 35, i.e. 22.9% of the total population. Only 1 person belongs to the age group of 36 to 45, i.e. 2.9% of the total population. 5 persons belong to the age group of above 45, i.e. 14.3% of the total population.

Graphical Representation

Age of the Correspondents

70 60 50 40 30 20 10 0 60

21 8

22.9 14.3 1 2.9 5 Above 46

Below 25

26 to 35 Age Group Frequency

36 to 45

Percent

67

2. Gender
Frequency Male Female Total 30 5 35 Percent 85.7 14.3 100.0 Valid Percent 85.7 14.3 100.0 Cumulative Percent 85.7 100.0

Interpretation
From the survey it has been found out that out of 35 respondents 30 are males, i.e. 85.7% of the total population. 5 persons are females, i.e. 14.3% of the total population.

Graphical Representation

Gender of the Correspondents

90 80 70 60 50 40 30 20 10 0 85.7

30 14.3

5
Frequency Male Female Percent

68

3. Qualification
Frequency Under Graduate 15 Graduate Post Graduate Total 17 3 35 Percent 42.9 48.6 8.6 100.0 Valid Percent 42.9 48.6 8.6 100.0 Cumulative Percent 42.9 91.4 100.0

Interpretation
From the survey it has been found out that out of 35 respondents 15 are under graduates, i.e. 42.9% of the total population. 17 persons are graduates, i.e. 48.6% of the total population. 3 persons are post graduates, i.e. 8.6% of the total population.

Graphical Representation

Qualification of the Correspondents

60 50 40 30 20 10 0 Under Graduate Graduate Frequency Percent Post Graduate 15 17 8.6 3 48.6 42.9

69

4. Occupation

Frequency Service profession Business Study Total 12 7 10 6 35

Percent 34.3 20.0 28.6 17.1 100.0

Valid Percent 34.3 20.0 28.6 17.1 100.0

Cumulative Percent 34.3 54.3 82.9 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 12 belong to the service sector, i.e. 34.3% of the total population. 7 are professionals, i.e. 20% of the total population. 10 persons are businessmen, i.e. 28.6% of the total population. 6 persons are students, i.e. 17.1% of the total population.

Graphical Representation

Occupation of the Correspondents

40 35 30 25 20 15 10 5 0 34.3 28.6 20 12 7 10 6 17.1

Service

profession Frequency

Business Percent

Study

70

5. Type of accounts

Frequency Saving Account Current Account Total 26 9 35

Percent 74.3 25.7 100.0

Valid Percent 74.3 25.7 100.0

Cumulative Percent 74.3 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 26 people are having savings account, i.e. 74.3% of the total population and 9 persons are having current account, i.e. 25.7% of the total population.

Graphical Representation

Type of Accounts
80 70 60 50 40 30 20 10 0 74.3

26 9

25.7

Frequency Saving Account

Percent Current Account

71

6. Knowledge and the skill of personnel

Frequency Perfect Good Should be Improved Total 12 17 6 35

Percent Valid Percent 34.3 34.3 48.6 48.6 17.1 17.1 100.0 100.0

Cumulative Percent 34.3 82.9 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 12 persons feel that the knowledge and skill of the bank personnel is perfect, i.e. 34.3% of the total population. 17 persons say that it is good, i.e. 48.6% of the total population and 6 persons feel that it should be improved, i.e. 17.1% of the total population.

Graphical Representation

Improvement Needed in the Skills Of Personnel

60 50 40 30 20 10 0 Perfect Good Frequency Percent Should be Improved 12 17 6 17.1 34.3 48.6

72

7. Responsiveness of the bank personnel

Frequency Very satisfied Satisfied Moderately Satisfied Total 14 19 2 35 Percent 40.0 54.3 5.7 100.0 Valid Percent 40.0 54.3 5.7 100.0 Cumulative Percent 40.0 94.3 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 14 persons Very satisfied with the responsiveness of the bank personnel, i.e. 40% of the total population. 19 persons are satisfied with the responsiveness of the bank personnel, i.e. 54.3% of the total population and 2 persons are moderately satisfied, i.e. 5.7% of the total population.

Graphical Representation

Responsiveness of the Personnel

60 50 40 30 20 10 0 14 19 2 5.7 40 54.3

Very satisfied

Satisfied
Frequency Percent

Moderately Satisfied

73

8. Relationship with the bank personnel

Frequency Very Friendly 9 Friendly Typical Total 21 5 35 Percent 25.7 60.0 14.3 100.0 Valid Percent 25.7 60.0 14.3 100.0 Cumulative Percent 25.7 85.7 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 9 persons found the personnel to be very friendly, i.e. 25.7% of the total population. 21persons found the personnel to be friendly, i.e. 60% of the total population. 5 persons found the personnel to be formal, i.e. 14.3% of the total population.

Graphical Representation

Relationship of the Personnels with the Correspondents

70 60 50 40 30 20 10 0 60

25.7 9

21 5 Friendly Frequency Percent

14.3

Very Friendly

Typical

74

9. Bank personnel understand & satisfy your needs

Frequency Always Often Sometimes Total 20 8 7 35 Percent 57.1 22.9 20.0 100.0 Valid Percent 57.1 22.9 20.0 100.0 Cumulative Percent 57.1 80.0 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 20 persons always found the bank personnel understanding and satisfying their needs, i.e. 57.1% 0f the total population. 8 persons often found the bank personnel understanding and satisfying their needs, i.e. 22.9% 0f the total population. 7 persons sometimes found the bank personnel understanding and satisfying their needs, i.e. 20% 0f the total population.

Graphical Representation

Co - operativeness of the Personnel

60 50 40 30 20 8 22.9 7 20 57.1

20
10 0 Always Often Frequency Percent Sometimes

75

10.

Average waiting time in bank

Frequency Percent 8.6 57.1 34.3 100.0 Valid Percent Cumulative Percent 8.6 57.1 34.3 100.0 8.6 65.7 100.0

Less than Minute 5-15 Minute More than minute Total

5 3 20 15 12 35

Interpretation
From the survey it has been found out that out of 35 respondents, 3 persons found Average waiting time in bank is less than 5 minutes, i.e. 8.6% 0f the total population. 20 persons found Average waiting time in bank is 5-15 minutes, i.e. 57.1% 0f the total population. 12 persons found Average waiting time in bank is more than 15 minutes, i.e. 34.3% 0f the total population.

Graphical Representation

Average Waiting Time

60 50 40 30 20 10 0 Less than 5 Minit 5-15 Minit Frequency Percent More than 15 minit 20 34.3 57.1

8.6
3

12

76

11.Satisfaction level from the personnel (employee) of bank Frequency Percent Completely satisfied Very Satisfied Satisfied Moderately Satisfied Total 5 9 14 7 35 14.3 25.7 40.0 20.0 100.0 Valid Percent 14.3 25.7 40.0 20.0 100.0 Cumulative Percent 14.3 40.0 80.0 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 5 persons found Completely satisfied from the personnel of bank, i.e. 14.3% 0f the total population. 9 persons found very satisfied from the personnel of bank, i.e. 57.1% 0f the total population. 14 persons found satisfied from the personnel of bank, i.e. 34.3% 0f the total population.7 persons found moderately satisfied from the personnel of the bank, i.e. 20% of the total population.

Graphical Representation
45 40 35 30 25 20 15 10 5 0 40 25.7 20 14.3 5 9

14
7

Frequency

Percent

77

12.

Satisfaction level from the products & services of bank

Frequency Percent Valid Percent 22.9 20.0 37.1 20.0 100.0 Cumulative Percent 22.9 42.9 80.0 100.0

Completely satisfied Very Satisfied Satisfied Moderately Satisfied Total

8 7 13 7 35

22.9 20.0 37.1 20.0 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 8 persons found Completely satisfied from the products & services of bank, i.e. 22.9% 0f the total population. 7 persons found very satisfied from the products & services of bank, i.e. 20% 0f the total population. 13 persons found satisfied from the products & services of bank, i.e. 37.1% 0f the total population.7 persons found moderately satisfied from the products & services of the bank, i.e. 20% of the total population.

Graphical Representation

Satisfaction Level of the Respondents from the Products and Services

40 30 20 10 0 37.1 22.9 8 7 20

13

20 7

Frequency

Percent

78

13. Image of bank Frequency Very good Good Moderate Total 14 20 1 35 Percent 40.0 57.1 2.9 100.0 Valid Percent 40.0 57.1 2.9 100.0 Cumulative Percent 40.0 97.1 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 14 persons found the image of the bank is very good, i.e. 40.0% of the total population. 20 persons found the image of the bank is good, i.e. 57.1% of the total population. 1 persons found the image of the bank is moderate, i.e. 2.9% of the total population.

Graphical Representation

Image of the Bank

60 50 40 57.1

40

30
20 10 0 Very good 14

20 2.9

1 Good Frequency Percent

Moderate

79

14. Satisfaction level from services of bank Frequency Percent Completely satisfied Very Satisfied Satisfied Moderately Satisfied Total 9 8 12 6 35 25.7 22.9 34.3 17.1 100.0 Valid Percent 25.7 22.9 34.3 17.1 100.0 Cumulative Percent 25.7 48.6 82.9 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 9 persons found Completely satisfied from the services of bank, i.e. 25.7% 0f the total population. 8 persons found very satisfied from the services of bank, i.e. 22.9% 0f the total population. 12 persons found satisfied from the services of bank, i.e. 34.3% 0f the total population.6 persons found moderately satisfied from the services of the bank, i.e. 17.1% of the total population.

Graphical Representation

Satisfaction Level from the Services of the Bank

40 30 20 10 0
34.3

25.7
9 8

22.9 12 6

17.1

Frequency

Percent

80

15. Satisfaction level from the accessibility Frequency Percent Completely satisfied Very Satisfied Satisfied Moderately Satisfied Total 8 9 12 6 35 22.9 25.7 34.3 17.1 100.0 Valid Percent 22.9 25.7 34.3 17.1 100.0 Cumulative Percent 22.9 48.6 82.9 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 8 persons found Completely satisfied from the accessibility of bank, i.e. 22.9% 0f the total population. 9 persons found very satisfied from the accessibility of bank, i.e. 25.7% 0f the total population. 12 persons found satisfied from the accessibility of bank, i.e. 34.3% 0f the total population.6 persons found moderately satisfied from the accessibility of the bank, i.e. 17.1% of the total population.

Graphical Representation
Satisfaction Level from the Accessibility Provided by the Bank
40 30 20 10 0 34.3 22.9 8 9 25.7 12 17.1 6

Frequency

Percent

81

16. Overall satisfaction level from the bank Frequency Percent Completely satisfied Very Satisfied Satisfied Moderately Satisfied Total 8 10 13 4 35 22.9 28.6 37.1 11.4 100.0 Valid Percent 22.9 28.6 37.1 11.4 100.0 Cumulative Percent 22.9 51.4 88.6 100.0

Interpretation
From the survey it has been found out that out of 35 respondents, 8 persons found Completely satisfied with the bank, i.e. 22.9% 0f the total population. 10 persons found very satisfied with the bank, i.e. 28.6% 0f the total population. 13 persons found satisfied with the bank, i.e. 37.1% 0f the total population.4 persons found moderately satisfied with the bank, i.e. 11.4% of the total population.

Graphical Representation

Satisfaction Level of the Respondents

40 35 30 25 20 15 10 5 0 37.1

22.9
8 10

28.6 13 4 11.4

Frequency

Percent

82

CONCLUSION Here the customers of the Bank of Baroda, Dumbhal branch, Surat are satisfied with the collaboration with bank. The 37.1% customers are satisfied, 28.6% customers are very satisfied with the bank. The 60% customers are below 25 year, 48.6%customers are graduates & 42.9% are under graduates, so the educations of the customers are good for the banking with the Bank of Baroda. There are 74.3% savings A/c and 25.7% current A/c. The personnel of the bank are good at the knowledge, skill, and responsiveness. They also satisfy the needs of the customers very well the 80% of the customers are satisfied from the personnel of the bank. 80% customers satisfied with the products & services of the bank. 40% customers opinion is very good about the image of the bank & 57.1% customers opinion is good about the image of the bank. 82.9% customers are satisfied with the services & accessibility provided by bank. So I believe that the Bank of Baroda is the one of the best bank of the nationalised banks of INDIA.

83

BIBLIOGRAPHY

Principles & Practices of Banking By Indian Institute of Banking & Finance MacMillan 2nd edition WWW.BANKOFBARODA.COM Study materials from joint manager of Bank of Baroda, Dumbhal Branch Mr. Harshal D. Upadhyay Questionnaire from Dr. Raju M. Ratod

84