Company Profile

Company profile
Bank of Baroda Bank of Baroda is one of the most prominent banks in India, having its total assets as Rs. 1,43,146 Crores as on 31st of March !!". #he bank $as fo%nded b& Mahara'a (a&a'irao )aek$ad III *also kno$n as (hrimant )opalrao )aek$ad+, the then Mahara'a of Baroda on !th of ,%l& 1-!. $ith a paid capital of Rs. 1! /acs. 0rom its introd%ction in a small b%ilding of Baroda, the bank has come a long $a& to achieve its c%rrent position as one of the most important banks in India. 1n 1-th of ,%l& 1-6-, Bank of Baroda $as nationali2ed b& the )overnment of India along $ith 13 other commercial banks. Financial Details 3s of March !!", the bank had total deposits $orth Rs. 1, 4,-14 Crores $hile it had a total n%mber of -46 branches located $orld$ide as on 3pril !!-, o%t of $hich 6 6 $ere located in Metro cities, 4 4 in 5rban areas, 64 in (emi65rban locations, 1!- in R%ral areas and " $ere located o%tside India. #he bank has 1! 7onal 1ffices and 43 Regional 1ffices $hich help it control its operations nationall&. International Presence 3long $ith a h%ge net$ork of its branches spread across India, Bank of Baroda has its overseas branches located in 14 other co%ntries, $hich incl%de Bahamas, Bahrain, Belgi%m, China, 0i'i Islands, 8ong 9ong, Ma%riti%s, Rep%blic of (o%th 3frica, (e&chelles, (ingapore, (%ltanate of 1man, 5nited 3rab :mirates, 5nited 9ingdom and 5nited (tates of 3merica. 3part from it, the bank has established its s%bsidiaries in " co%ntries vi2. Bots$ana, )hana, )%&ana, 9en&a, #an2ania, #rinidad ; #obago and 5ganda, and its representative offices in 3 co%ntries $hich are 3%stralia, Mala&sia and #hailand. Other Details Bank of Baroda had a total $orkforce of 3.!63 emplo&ees offering their services to the instit%tion as of (eptember !!6. 1%t of these, 134 4 $ere 1fficers, 164-" $ere Clerks $hile .!41 $ere (%b6(taff members. #he bank offers a $ide arra& of c%stomi2ed and speciali2ed services to meet the diverse needs of its c%stomers, and these services have been categori2ed into <ersonal Banking, B%siness Banking, Corporate Banking, International Banking, #reas%r& Banking and R%ral Banking services.

Introduction

INTRODUCTION: Banking in India originated in the last decades of the 1.th cent%r&. #he first banks $ere #he )eneral Bank of India $hich started in 1".6, and the Bank of 8ind%stan, both of $hich are no$ def%nct. #he oldest bank in e=istence in India is the (tate Bank of India, $hich originated in the Bank of Calc%tta in ,%ne 1.!6, $hich almost immediatel& became the Bank of Ben al. #his $as one of the three presidenc& banks, the other t$o being the Bank of Bom!ay and the Bank of "adras, all three of $hich $ere established %nder charters from the British :ast India Compan&. 0or man& &ears the <residenc& banks acted as >%asi6central banks, as did their s%ccessors. #he three banks merged in 1- 1 to form the Imperial Bank of India, $hich, %pon India?s independence, became the (tate Bank of India. Indian merchants in Calc%tta established the 5nion Bank in 1.3-, b%t it failed in 1.4. as a conse>%ence of the economic crisis of 1.4.64-. #he #llaha!ad Bank, established in 1.64 and still f%nctioning toda&, is the oldest ,oint (tock bank in India.*,oint (tock Bank. . #hat honor belongs to the Bank of 5pper India, $hich $as established in 1.63, and $hich s%rvived %ntil 1-13, $hen it failed, $ith some of its assets and liabilities b 0oreign banks too started to arrive, partic%larl& in Calcutta, in the 1.6!s. #he Comptoire d$%scompte de Paris opened a branch in Calc%tta in 1.6!, and another in Bom!ay in 1.6 @ branches in "adras and Pondichery, then a 0rench colon&, follo$ed. &'BC established itself in Ben al in 1.6-. Calc%tta $as the most active trading port in India, mainl& d%e to the trade of the British %mpire, and so became a banking center. Being transferred to the 3lliance Bank of (imla. #he Bank of Bengal, $hich later merged $ith the Bank of Bomba& and the Bank of Madras to form the Imperial Bank of India in 1- 1.

#he period bet$een 1-!6 and 1-11 a n%mber of banks established then have s%rvived to the present s%ch as Bank of India, Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India. #he partition of India in 1-4" adversel& impacted the economies of <%n'ab and Aest Bengal, paral&2ing banking activities for months. India?s independence marked the end of a regime of the /aisse26faire for the Indian banking. #he )overnment of India initiated meas%res to pla& an active role in the economic life of the nation, and the Ind%strial <olic& Resol%tion adopted b& the government in 1-4. envisaged a mi=ed econom&. #his res%lted into greater involvement of the state in different segments of the econom& incl%ding banking and finance. #he ma'or steps to reg%late banking incl%dedB

In 1-4-, the In 1-4., the Reserve Bank of India, India?s central banking a%thorit&, $as nationali2ed, and it became Banking Reg%lation 3ct $as enacted $hich empo$ered the Reserve Bank of India *RBI+ Cto reg%late, control, and inspect the banks in India.C

#he Banking Reg%lation 3ct also provided that no ne$ bank or branch of an e=isting bank co%ld be opened $itho%t a license from the RBI, and no t$o banks co%ld have common directors. 8o$ever, despite these provisions, control and reg%lations, banks in India e=cept the (tate Bank of India, contin%ed to be o$ned and operated b& private persons. #his changed $ith the nationali2ation of ma'or banks in India on 1- ,%l& 1-6-.

N#TION#(I'#TION : The RBI was nationalized on ,an%ar& 1, 1-4- in terms of the Reserve Bank of India *#ransfer to <%blic 1$nership+ 3ct, 1-4. *RBI, B& the 1-6!s the Indian banking ind%str& had become an important tool to facilitate the development of the Indian econom&. 3t the same time, it had emerged as a large emplo&er, and a debate had ens%ed abo%t the possibilit& to nationalise the banking ind%str&. Indira )andhi, the6then <rime Minister of India e=pressed the intention of the )1I in the ann%al conference of the 3ll India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation.

#he paper $as received $ith positive enth%siasm. #hereafter, her move $as s$ift and s%dden, and the )1I iss%ed an ordinance and nationalised the 14 largest commercial banks $ith effect from the midnight of ,%l& 1-, 1-6-. ,a&aprakash Dara&an, a national leader of India, described the step as a "masterstroke of political sagacity." Aithin t$o $eeks of the iss%e of the ordinance, the <arliament passed the Banking Companies *3c>%isition and #ransfer of 5ndertaking+ Bill, and it received the presidential approval on - 3%g%st 1-6-. 3 second dose of nationali2ation of 6 more commercial banks follo$ed in 1-.!. #he stated reason for the nationali2ation $as to give the government more control of credit deliver&. Aith the second dose of nationali2ation, the )1I controlled aro%nd -1E of the banking b%siness of India. 3fter this, %ntil the 1--!s, the nationalised banks gre$ at a pace of aro%nd 4E, closer to the average gro$th rate of the Indian econom&. (i!erali)ation: In the earl& 1--!s, the then Darsimha Rao government embarked on a polic& of liberali2ation, licensing a small n%mber of private banks. #hese came to be kno$n as New Generation tech sa!!y "anks, and incl%ded )lobal #r%st Bank *the first of s%ch ne$ generation banks to be set %p+, $hich later amalgamated $ith 1riental Bank of Commerce, 3=is Bank*earlier as 5#I Bank+, ICICI Bank and 8F0C Bank. #his move, along $ith the rapid gro$th in the econom& of India, revitali2ed the banking sector in India, $hich has seen rapid gro$th $ith strong contrib%tion from all the three sectors of banks, namel&, government banks, private banks and foreign banks. #he ne=t stage for the Indian banking has been set%p $ith the proposed rela=ation in the norms for 0oreign Firect Investment, $here all 0oreign Investors in banks ma& be given voting rights $hich co%ld e=ceed the present cap of 1!E,at present it has gone %p to "4E $ith some restrictions. #he ne$ polic& shook the Banking sector in India completel&. Bankers, till this time, $ere %sed to the 46664 method *Borro$ at 4E@/end at 6E@)o home at 4+ of f%nctioning. #he ne$ $ave %shered in a modern o%tlook and tech6savv& methods of $orking for traditional banks.3ll this led to the retail boom in India. <eople not '%st demanded more from their banks b%t also received more.

C%rrentl& , banking in India is generall& fairl& mat%re in terms of s%ppl&, prod%ct range 6even tho%gh reach in r%ral India still remains a challenge for the private sector and foreign banks. In terms of >%alit& of assets and capital ade>%ac&. Bond market update *+ year !enchmark ,-sec at ./001 on 23th "ay4 2+*+ 5hardenin of *.!ps 6o67 #he &ields on the )6sec started hardening in vie$ of the impending li>%idit& shortage d%e to the 3) a%ction, ta= o%tflo$s and the $eekl& a%ction s%ppl&. #he &ields on the 5( #reas%r& also hardened. Corporate !onds yields ran e !ound in 8ie9 of ample li:uidity #he 1! &ear 333 bond traded at a &ield of aro%nd ..6"E compared to ..6!E observed in the previo%s $eek. #he 1 &ear bond $as stable at 6.64E. #he 333 4 &ear corporate bonds hardened to ..1.E. #he hardening is d%e to the increase in &ields in government sec%rities and the impending li>%idit& shortage. ,DP ro9th and inflation #he rob%st )F< gro$th of ".4E for the 0G !1! $as triggered b& the higher than e=pected gro$th from man%fact%ring and agric%lt%re, boosted b& the economic stim%l%s. #he primar& articles inflation rate for the $eek ended 14th Ma& stood at 14.-E vis6H6vis 16.1-E a $eek earlier 6 the inde= declined b& !.1E. #he f%el and po$er inde= rose !.!4E taking the GoG inflation rate to 1 .!.E from 1 .33E a $eek earlier. Forei n e;chan e reser8es India?s foreign e=change reserves for the $eek ended 1st Ma& stood at I "3.36 bln lo$er b& I .."bln. ,lo!al ne9s update for !ond markets 3ccording to the nd estimate released b& the B%rea% of :conomic 3nal&sis, real )F< of the 5( increased at an ann%al rate of 3.!E in the first >%arter of !1! as against 3. E in the advance estimate. In the fo%rth >%arter of !!-, real )F< had increased 4.6E.

 3s per the 1ffice for Dational (tatistics, )F< in the 59 rose b& !.3E in the first >%arter compared to an initial meas%rement of !. E as rebo%nding investment and the biggest '%mp man%fact%ring for fo%r &ears strengthened the recover&. #!out lo o JBankKs ne$ logo is a %ni>%e representation of a %niversal s&mbol. It comprises d%al LBK letterforms that hold the ra&s of the rising s%n. Bank of baroda calls this the Baroda (%nM

#he s%n is an e=cellent representation of $hat bank stands for. It is the single most po$erf%l so%rce of light and energ& N its far reaching ra&s dispel darkness to ill%minate ever&thing the& to%ch. 3t Bank of Baroda, it seeks to be the so%rce that $ill help all its stakeholders realise their goals. #o bankKs c%stomers, it seeks to be a one6stop, reliable partner $ho $ill help them address different financial needs. #o its emplo&ees, it offers re$arding careers and to its investors and b%siness partners, ma=im%m ret%rn on their investment.

#he single6colo%r, compelling vermillion palette has been caref%ll& chosen, for its distinctivenes as it stands for hope and energ&.

It also recogni2e that bank is characterised b& diversit&. Its net$ork of branches spans geographical and c%lt%ral bo%ndaries and r%ral6%rban divides. Its c%stomers come from a $ide spectr%m of ind%stries and backgro%nds. #he Baroda (%n is a fitting face for its brand beca%se it is a %niversal s&mbol of d&namism and optimism N it is meaningf%l for its man& a%diences and easil& decoded b& all.

Management <rofile Dame Fesignation

(hri M.F.Mall&a

Chairman ; M.F

(hri O.(anthanaraman

:=ec%tive Firector

(hri (atish.C.)%pta

:=ec%tive Firector

(hri C.).Chat%rvedi

*I.3.(, 3dditional (ecretar&, )ovt. of India, Ministr& of Aealth ; 0amil& Aalfare+

(hri 3.(omas%ndaram

Dominee of R.B.I

(hri Milind D.Dadkarni

Firector

(hri Ran'it k%mar Chetter'ee

Firector

(hri 3mar'it Chopra

Firector

(mt Masarrat (hahid

Firector

(hri Ma%lin 3.Oaisnav

Firector

Fr. 3t%l 3gar$al

Firector

Fr. Fharmendra Bhandari

Firector

(hri Mahesh <rabh%lal Mehta

Firector

Fr.Feepak Bhaskar phatak

Firector

1rgani2ational (tr%ct%re 1rgani2ational str%ct%re is one of the most important decision mode b& top management before starting the b%siness, as it generall& depend on the nat%re and si2e of the compan&, it has lot to do $ith the 'ob description and 'ob specification. #he organi2ational str%ct%re is nothing b%t hierarchical and departmental process.

:ver& organi2ation differ in str%ct%re. #here is a $ell defined s&stem in the Bank regarding decision making process. /ending and administrative decisions are taken at vario%s levels from ,M)( I to #op :=ec%tive grade (cale OII and also b& :=ec%tive Firector and Chairman ; Managing Firector depending %pon their positions as per the discretionar& lending po$ers delegated to them b& the Board. Branches receive applications for credit facilities and recommend to the appropriate sanctioning a%thorit&. In the case of ma'or retail loan prod%cts applications are processed at branches and Centralised Credit <rocessing Cells at select centers.

#here is a $ell defined organi2ational str%ct%re and clear s&stem of acco%ntabilit& based on RBI P COC g%idelines. 3ll credit decisions approved b& an& sanctioning a%thorit& are reported to the ne=t higher a%thorit& for control p%rpose. #he s&stem of e=ercising proper delegation of po$er and s%bmission of control reports is in place and the& are monitored b& control officers and thro%gh internal inspection. B& observing the follo$ing is a common str%ct%re as per compan& g%idance.

PRODUDT < '%R=IC%' OFF%R%D B> B#N? OF B#ROD# : Retail (oansB 3 $ide range of sol%tions for &o%r financial needs. Bank of Baroda offers a $ide range of retail loans to meet &o%r diverse needs. Ahether the need is for a ne$ ho%se, child?s ed%cation, p%rchase of a ne$ car or home appliances, o%r %ni>%e and need specific loans $ill enable &o% to convert &o%r dreams to realities. ?ey products B B#ROD# &O"% (O#N: &ome Impro8ement (oan

Bank of Baroda brings to &o% a %ni>%e loan prod%ct. 3 loan for Repairs P Renovations P Improvement P :=tension of 8ome and for 0%rnit%re, 0ittings ; 0i=t%res. ?ey Benefits

/oan available for repairs P renovation P improvement P e=tension of the e=isting ho%se. /oan available for p%rchase of f%rnit%re P fi=t%res P f%rnishing P other gadgets s%ch as fans, ge&sers, air conditioners etc. re>%ired, toB

Baroda "ort a e (oan

Bank of Baroda brings to &o% an innovative combination of a loan and over draft facilit& $ith fle=ible repa&ment options against the sec%rit& of &o%r immovable propert&. 9e& Benefits

Ideal use of idle property 6 )enerate additional income from an other$ise idle propert&. Aithdra$ mone& as per &o%r need and save on interest cost. Feposit s%rpl%s mone& P reg%lar income P salar& and save interest.

Baroda %ducation (oan : :d%cation is the most important investment one makes in life. 8igher st%dies and speciali2ation in certain fields call for additional financial s%pport from time to time. Ahether &o% are planning school ed%cation *n%rser& to standard QII+ of &o%r child, p%rs%ing a grad%ate or post6grad%ate degree, the Bank of Baroda %ducation (oans, can help finance &o%r ambitions and goals. 0ollo$ing are the loan options availableB

Baroda Oid&a Baroda )&an Baroda (cholar

Baroda =idya: Bank of Baroda presents a one of its kind finance option for parents of st%dents p%rs%ing school ed%cation. #hese loans are available for st%dies from D%rser& to (enior (econdar& (chool. Baroda 'cholar: Bank of Baroda presents financial assistance to st%dents going abroad for <rofessional P #echnical st%dies. #he loan offering is designed to empo$er &o% $ith the financial capabilit& to realise &o%r dreams... 3chieve &o%r goals... Reach

o%t

to

the

ma=im%m

limits...

)rad%ateP<ost )rad%ate P Foctorate P ,ob 1riented <rofessional P #echnical Co%rses offered b& rep%ted 5niversities .

B#ROD# C#R (O#N B

In toda&?s fast paced $orld, a vehicle is b%t a necessit&. Get other e=penses and plans in life take priorit& and the dream of o$ning a car takes a back seat. Ahether as a comfortable and dependable means of transport or as a stat%s s&mbol in societ&, $e believe &o% deserve o$nership of a vehicle. #he Car (oans from Bank of Baroda are designed to finance the car that s%its &o%r need and matches to &o%r stat%s ; taste. Baroda (oan to Doctors Bank of Baroda brings to &o% Baroda (oan to Doctors, a one of its kind, designed speciall& to cater to the financial needs of the doctors. #he advance is available for pro'ects related to setting %p P e=pansion of n%rsing home P hospital P clinic and pathological . B#ROD# P%R'ON#( (O#NB

3 $edding in the famil&. Ma&be it?s high time &o% s%rprised &o%r spo%se $ith a priceless gift. 1r &o% simpl& need to pamper &o%r famil& $ith an e=tended vacation. #hese are the times $hen &o% ma& need a helping hand. #hat?s $hen &o% can bank on %s. Bank of Baroda?s <ersonal /oan offers financial help to meet &o%r personal re>%irements. 9e& BenefitsB

8elps &o% take care of all kinds of e=penses at a short notice. #he /oan ma& be availed to meet e=penses related to marriage, travel, hone&moon, holida& and medical e=pendit%re or for an& other personal %se. #he loan is also available to <ensionersPFefence <ensioners /oan is also available for :arnest Mone& Feposits for b%&ers of homePflatPplot.

Baroda #shray 5Re8erse "ort a e (oan7

%li i!ility:

(ho%ld be (enior Citi2en of India, above 6! &ears of age. Married co%ples $ill be eligible as 'oint borro$ers provided one of them is above 6! &ears of age and age of spo%se is not belo$ 44 &ears at the time of application. (ho%ld be the o$ner of a residential propert& *ho%se or flat+ located in India in hisPher o$n name.

#he ma=im%m loan amo%nt incl%sive of interest for entire ten%re of the loan shall be restricted to Rs. 1 crore s%b'ect to val%e of the propert&. #he Bank shall have the option to revise periodic ann%it& amo%nt, if l%mp6s%m pa&ment is taken or at the interval of ever& 4 &ears based on val%ation of the propert&. Repayment of (oanB #he loan shall become d%e and pa&able $hen the last s%rviving borro$er dies or $o%ld like to sell the home P permanentl& moves o%t of the home for aged care to an instit%tion or relatives. #he loan $ill, as s%ch, become d%e for recover& and pa&able.

(ettlement of loan, along $ith acc%m%lated interest, to be met b& the proceeds received o%t of sale of residential propert&. #he borro$er*s+ or hisPherPtheir estate shall be provided $ith the first right to settle the loan along $ith acc%m%lated interest, $itho%t sale of propert&. 3 reasonable period of months ma& be provided $hen repa&ment is triggered, for ho%se to be sold.

. Baroda Traders (oan: #he Baroda Traders (oan facilit& enables individ%als, <roprietorships, bodies s%ch as <artnership firms and Co6op societies to avail of $orking capital or %ndertake development of shop b& $a& of loanPoverdraft. Fealers in goldP silver 'e$elr& are also covered %nder the scheme. 9e& Benefits

1ption to avail the credit facilit& as loan or overdraft. 3dvance available %p to Rs. !! /acs. /oan can be repaid in a ma=im%m period of 6! months.

#he b%siness %nits sho%ld have been established in the line of b%siness for a minim%m period of &ears 4!E on reali2able market val%e of immovable propert&.

 1!E on Bank?s o$n 0i=ed Feposits. 14E on face val%e of D(Cs, )ovt. Bonds, s%rrender val%e of /IC policies.

BarodaT9o6heeler(oan:

0or those individ%als $ho prefer to travel more conservativel& or to get to their destinations faster, a t$o6$heeler is as m%ch a boon as it is to a car o$ner. Aith ne$er models coming o%t each &ear, the options available to the c%stomer are both attractive as $ell as convenient. Bank of Baroda$s T9o-6heeler (oan make it possible to p%rchase a t$o6 $heeler and pa& back in eas& monthl& instalments, thereb& red%cing the b%rden of a one6time pa&ment. 3ll resident Indians, salaried, professionals, self6emplo&ed, b%sinessmen and farmers can appl& for this loan. #erms ; Conditions

0inance for a minim%m of Rs. 4!!! and a ma=im%m of Rs. 1 /akh *or five times of the monthl& income, $hichever is less+ can be availed of thro%gh the loan. Margin of 1!E on loan amo%nt.

#he loan amo%nt can be repaid in ma=im%m 6! months from the date of disb%rsement of loan.

Baroda Career De8elopment )ainf%ll& emplo&ed persons intend to p%rs%e higher ed%cation, vocational co%rses, trainings, pilot trainings, skill %p gradation, diploma or degree co%rses offered in aviation, hospitalit& and travel management, e=ec%tive development etc. in India P abroad.

%li i!lity of Courses :

)rad%ate, <ost )rad%ate, Fiploma, <rofessional Co%rses, (peciali2ation co%rses offered b& rep%ted 5niversitiesP Instit%tions *Indian or 1verseas+, having ass%red emplo&ment prospects, (kill %p gradation co%rses offered b& vario%s instit%tes *IndianP1verseas+, having ass%red emplo&ment prospects, Co%rses offered b& 8ospitalit& %pgradeP(hort co%rseP #raining etc. Management Instit%tes for (kill

<ilot #raining Co%rses, offered b& rep%ted Instit%tions *Indian or 1verseas+, approved b& Firector )eneral of Civil 3viation *F)C3+ PInternational Civil 3viation 1rgani2ation *IC31+.

'tudent %li i!lity :

(ho%ld be an Indian Dational. 8ave sec%red admission to the co%rse thro%gh entrance test P merit based selection process.

(oan # ainst Future Rent Recei8a!les 8as been developed considering the gro$th potential in the real estate in vario%s metros and %rban centers, $here man& commercial propertiesPshopping malls are

being developed and the o$ners approach banks for loans against sec%riti2ation of f%t%re rent receivables from s%ch properties. 9e& Benefits

#he scope for the De$ <rod%ct has been kept $ide to cover the target gro%ps, vi2. o$ners of immoveable properties *lessor+ belonging to all t&pes of the constit%tion. #he minim%m and ma=im%m loan limits are fi=ed at Rs.1 lac and Rs.1!!! lacs respectivel&.

Baroda 8ome /oans to DRIs P <I1s Bank of Baroda presents &et another innovative prod%ct in the form of Baroda 8ome /oans to DRIs P <I1s, a %ni>%e ho%sing loan facilit& designed speciall& for Don Resident Indians *DRI+ and <erson of Indian 1rigin *<I1+. 9e& Benefits

3 loan prod%ct tailor6made for DRI P <I1 needs 1pt for 0le=i Rate plan to hedge the interest rate risk b& breaking the loan into t$o separate acco%nts 0ree propert& ins%rance and personal accident ins%rance Do pre pa&ment P foreclos%re charges for part as $ell as f%ll prepa&ment *$hen repaid from o$n so%rces b& the borro$er+ .

Baroda &ome (oans to NRIs @ PIOsB Bank of Baroda presents &et another innovative prod%ct in the form of Baroda 8ome /oans to DRIs P <I1s, a %ni>%e ho%sing loan facilit& designed speciall& for Don Resident Indians *DRI+ and <erson of Indian 1rigin *<I1+. 9e& Benefits

3 loan prod%ct tailor6made for DRI P <I1 needs 1pt for 0le=i Rate plan to hedge the interest rate risk b& breaking the loan into t$o separate acco%nts

0ree propert& ins%rance and personal accident ins%rance Do pre pa&ment P foreclos%re charges for part as $ell as f%ll prepa&ment *$hen repaid from o$n so%rces b& the borro$er+

Deposits:

Bank of Baroda offers vario%s deposit plans that &o% can choose from depending on the term period, nat%re of deposit and its %ni>%e saving and $ithdra$al feat%res. 3part from competitive interest rates and convenient $ithdra$al options, o%r deposit plans offer other feat%res s%ch as overdraft facilit&, o%tstation che>%e collections, safe deposit lockers, 3#M?s etc. Choose from Fi;ed, Current and 'a8in s Feposit plans. 0i=ed deposits are categorised into deposits $ith a term period of less than 1 months, more than 1 months and rec%rring deposits. #hese deposit plans offer convenient sol%tions to both $orking individ%als as $ell as senior citi2ens. C%rrent and saving deposits are ideal for individ%als $ho $ish to take advantage of m%ltiple benefits $ithin the same plan and even be eligible to opt for overdrafts. ,en Ne;t 'er8icesB

,en-Ne;t Aunior 5'a8in #ccount7 <rod%ct Dat%re

#his is a (pecial kind of (avings Bank Feposit prod%ct for children to be made available in )en6De=t <%ne branch.

,en-Ne;t (ifestyle #&pe 1f 0acilit&

#erm /oan *Combo <ack+

<%rpose

<%rchase of 8ome 0%rnishings P Cons%mer F%rable goods *incl%des color #.O., video camera P refrigerator P $ashing machine P m%sic s&stem P air6 conditioners P cooking s&stem etc+. <%rchase of vehicle i.e. t$o6$heeler P fo%r6$heeler. <%rchase of /aptop P <C. <%rchase of an& ne$ electronic gadgets like Mobile, i6<od, 8and&cam etc.

#arget )ro%p Aorking )en6De=t <o$er *1F 0acilit&+ <rod%ct Dat%re

#his is a special (avings Feposit prod%ct having an in b%ilt feat%re of overdraft facilit& to be available at )en6De=t <%ne branch.

#arget )ro%p

#he prod%ct is targeted to $orking e=ec%tives and other $orking professionals. Our BankBs 'taff mem!ers are not eligible to avail the prod%ct.

. ,en-Ne;t 'u8idha B <rod%ct Dat%re B #his is a Rec%rring Feposit prod%ct enabling the c%stomer to make reg%lar savings on monthl& basis and earn higher interest. C%stomer (egment B

Individ%als in their single P 'oint names.

Minors of age 1! &ears and above 'ointl& $ith their parents P nat%ral g%ardians. Minors belo$ 1! &ears age thro%gh their parents.

D%BIT C#RD :

Bank of Baroda International De!it Card is accepted at over 4!!!! Oisa :lectron 3#Ms in India and 1!!!!!! 3#Ms $orld$ide. #he card is also accepted at an& 34!!!! merchant o%tlets in India and aro%nd - millions globall&. #he card enables &o% to en'o& the convenience of cash6less p%rchasing po$er $itho%t the fear of overdra$ing &o%r acco%nt 9e& Benefits

#ake advantage of the most $idel& accepted card and be able to $ithdra$ from an& 3#M displa&ing the OI(3 logo, in India and abroad. 3t OI(3 :lectron merchant shops, it can also serve as &o%r electronic p%rse, and mone& gets debited instantl& from &o%r acco%nt, as &o% pa&. #he Card allo$s &o% to get mini6statements from Bank of Baroda 3#Ms, or to check the balance in &o%r acco%nt, avoiding visits to even o%r nearest branches.

Remittances 5Baroda "oney %;press+B B%siness relations get strengthened and add to the tr%st $hen financial dealings happen on time. #he Baroda Mone& :=press remittance facility ens%re instant pa&ments and transfer of f%nds, saving &o% and &o%r associates from $aiting endlessl& for f%nds to get credited. #his facilit& is available for both retail and corporate c%stomers enabling efficient and eas& transfer of mone&. (o no more dela&s in transfer of f%nds t&pical of Banker?s Che>%e, Femand Frafts, Mail #ransfers and #elegraphic #ransfers. #he facilit& is available at 344 branches across 43 centres in India incl%sive of all branches in 3hmedabad, Bangalore, Chennai, Felhi, 8&derabad, M%mbai, and <%ne. ?ey Benefits:

Can be %sed to transfer mone& to the beneficiar&?s acco%nt in the same bank, or another bank or even to their residentialPoffice address, th%s offering convenient options. #his electronic remittance is the fastest $a& of transferring mone& from one place.

DematB #he Fepositor& s&stem $as introd%ced in India more than a decade back. #oda& the $ord CFematC is $ell kno$n and most of the investors are conversant $ith the Femat of shares and sec%rities. <resentl&, there are onl& t$o depositories f%nctioning in India and the& areB6 i. ii. Dational (ec%rities Fepositor& /imited *D(F/+ and Central Fepositor& (ervices *India+ /imited *CF(/+.

0inancial Instit%tions, banks, c%stodians and stockbrokers compl&ing $ith the re>%irements prescribed b& (ec%rities ; :=change Board of India *(:BI+ can be registered as a Fepositor& <articipant *F<+.

3 CDepository ParticipantC is an agent of the Fepositor& *D(F/ or CF(/+ $ho is a%thori2ed to offer depositor& services to investors. #h%s to open a Femat acco%nt of an investor, a bank or its branch has to get registered .

Baroda &ealth: CBaroda &ealthC 5"ediclaim Insurance Policy7 for BankBs #ccount holders/ Aith a vie$ to offer val%e added services to o%r c%stomers, $e have developed a co6branded ins%rance prod%ct called as CBaroda8ealthC *Mediclaim Ins%rance <olic&+ for Bank?s 3cco%nt holders $.e.f. 3rd 0ebr%ar& !!6 a8aila!le at all our !ranches across the country.

6hat is Baroda &ealth PolicyD It is a Medical Ins%rance (cheme, available only to account holders of our Bank, $hich takes care of the hospitali2ation e=penses inc%rred b& the c%stomer %p to the amo%nt of s%m ins%red, in respect of the follo$ing event%alities.

3n& illness P disease 3ccidental in'%r& andP or an& ailment. 3n& s%rger& that is re>%ired in respect of an& disease or accident that has arisen d%ring the polic& period

#he minim%m hospitali2ation sho%ld be for 4 ho%rs.

Out9ard Bills for Collection : 3ll branches of Bank of Baroda have the facilit& of collecting Che>%es, Femand Frafts, Interest Aarrants, Fividend Aarrants, Ref%nd 1rders, Clean Bills and Foc%mentar& Bills from c%stomers and vario%s centres.. 3ll Che>%es and other instr%ments are collected into properl& introd%ced acco%nts and sent for collection on the da& of receipt from the c%stomers or the ne=t $orking da&. Time Bound Collection: 3ll branches of Bank of Baroda are prompt in terms of the collections and for$arding of che>%es and other instr%ments. 0or metro cities, $hen financial instr%ments are presented in a branch, the proceeds are credited to the c%stomer?s acco%nt on the same da& in the follo$ing $eek. 0or state capitals, *and centres $ith more than 1!! branches+, amo%nt is credited onl& after 1! da&s. If these instr%ments are not collected $ithin 14 da&s of lodgement, interest R E per ann%m over savings bank rate is paid and is credited to the c%stomer?s acco%nt, $itho%t the c%stomer having to claim it. Branches also accept re>%ests for collection of /oan Certificates P 0FRs iss%ed b& ,oint (tock Cos.@ pri2e mone& of /otter& #ickets, 0oreign C%rrenc& Dotes etc. #he bank levies service charges as stip%lated from time to time. In9ard Bills for Collection : Bills of :=change, <romissor& Dotes, 8%ndi?s etc. *Clean P Foc%mentar&+, pa&able locall& b%t received from o%tstation branches P banks P parties are treated as CIn$ard Bills for CollectionC. 3lso, Bills received from Bank of Baroda branches and from other banks, directl& from dra$ers or o%tstation parties are treated as 5sance *SS+ Bills. BOB Euick: #he 0%nds collected in this offering are credited to the c%stomer?s acco%nt $ithin a g%aranteed period of " da&s. Bank of Baroda$s BOB Euick ens%res a better collection service, $hich creates ne$ aven%es of income and ens%res better investment of f%nds. 3ll che>%es amo%nting to Rs. 4!!!P6 and above are dra$n on select banks and are eligible for CEuick inter station clearin C/ Rs. 4!P6 per

packet is charged for co%rier charges $ith an additional b%t nominal collection charge. National Clearin 'pecial Facilities: #his prod%ct is an %ndertaking b& the Reser8e Bank of India, for inter cit& clearing of che>%es bet$een the fo%r metropolitan centres of Felhi, M%mbai, Chennai and Calc%tta. 9e& Benefits

(ettlement of transactions on the basis of net val%e of instr%ments. 3ll financial instr%ments are cleared promptl& $ith the introd%ction of mechanised che>%e processing, achieved thro%gh MICR technolog&. #he concept of clearing has been e=tended to clearance of o%tstation che>%es also. In addition to the fo%r metropolitan centres, certain other centres have also been identified for COne 6ay National Clearin C/ #hese centres are Dagp%r, 3hmedabad, 8&derabad, Bangalore, <ondicher&, #rich&, #rivendr%m, Oellore, Baroda, :rode, Mad%rai, and more. %lectronicClearin 'er8ices5%C'7: #his is a %ni>%e s&stem %nder $hich Bank of Baroda helps companies and instit%tions making heav& pa&ments disb%rse these amo%nts directl& into the bank acco%nts of the beneficiaries s%ch as acco%nt holders, shareholders, investors etc.

6holesaleBankin B Bank has identified the follo$ing ne$ b%siness segments as a step to$ard becoming M%lti (pecialist Bank.

Aholesale */arge ; Mid Corporates+ 5rban Retail (mall ; Medi%m :nterprises R%ralP3gri B%siness

5nder Aholesale Banking the corporate c%stomers are identified as /arge and Mid corporates. Companies having ann%al sales t%rnover of over Rs. 4!! crore are classified as /arge Corporate and those having ann%al sales t%rnover bet$een Rs 1!! crore to 4!! crore are classified as Mid Corporate. TR%#'UR>: Fomestic1perations Bank of Baroda has set %p dedicated desks at the 'ITB, headed b& e=perienced professionals, for %ndertaking vario%s t&pes of treas%r& activities in different financial markets. 3part from activities pertaining to management of f%nds and li>%idit&, the domestic treas%r& also handles financial instr%ments likeB Commercial <apers *C<+ Certificate of Feposits *CF+

)overnment (ec%rities #reas%r& Bills *#B+ Bonds and Febent%res :>%ities and vario%s other derivatives.

#he prod%cts and services offered b& (I#B cater to the inter6bank market as $ell as to the Corporate c%stomers of the bank. #he Bank is an active participant both in the inter6bank market and the corporates for all the prod%cts. #he Bank offers its c%stomers, incl%ding firms, companies, corporate bodies, instit%tions, provident f%nds tr%sts, Regional R%ral Banks, 5rban Cooperative Banks and Don6Banking 0inancial Companies opport%nities to invest in )overnment (ec%rities as allo$ed b& Reserve Bank of India for non6competitive bidding. Fore;OperationsB Bank of Baroda, one of the ma'or p%blic sector banks in India having a strong global presence $ith a $ide net$ork of 61 overseas offices, incl%ding those of s%bsidiaries, spread over 16 co%ntries, is considered as a market leader in foreign e=change operations in India. 3t present the Bank is having branches P offices in co%ntries like 5(3, 59, Belgi%m, (o%th 3frica, 8ong 9ong, 53:, 1man, 0i'i Islands, Ma%riti%s, (e&chelles, Bahamas, )%&ana, 9en&a, 5ganda and 7ambia

#he Bank has completed fift& &ears of operations in overseas territories and is poised to e=pand its reach to co%ntries like #an2ania and China, apart from consolidating its overseas operations in those co%ntries $here the bank has alread& made its presence felt. #he modern state6of6the6art dealing room at its (pecialised Integrated #reas%r& Branch *(I#B+ at M%mbai provides the necessar& $here$ithal to its -4 designated branches across the length and breadth of the co%ntr& a%thori2ed to handle foreign e=change b%siness of its clientele. #he bank has retained its primac& as a leading market maker both in spot and for$ard markets, along $ith foreign e=change s$ap markets. #he fore= dealing desk at the (I#B is provided $ith all modern comm%nication facilities and is in the process of linking all its a%thori2ed branches via Re%ters 3%tomated Fealing (&stem, to provide on6line >%otes for foreign e=change transactions. #hro%gh its large net$ork of a%thori2ed branches, the bank caters to the foreign e=change needs of its clientele engaged in e=port and import trade and the (I#B provides rates for conversion of all ma'or $orld c%rrencies like 5 ( Follar, (terling <o%nds, :%ro, ($iss 0rancs, ,apanese Gen and other e=otic c%rrencies. #he services to the c%stomers of the Bank incl%de hedging of foreign c%rrenc& risks b& providing for$ard covers and vario%s derivatives prod%ct. ID R5R3/ (:C#1R B

BankBs passion for Rural De8elopment Bank of Baroda, since its inception on !th ,%l& 1-!. b& the great visionar& Mahara'a (a&a'irao )aek$ard III, has been in the forefront for social commitment $ith its innovative approaches and prod%cts. 3 passion for agric%lt%re and r%ral development and to serve the common man is ingrained in the BankKs philosoph&.

In the past, the Bank has taken a n%mber of initiatives s%ch as opening of speciali2ed o%tlets of )ram Oikas 9endras *)O9s+ and M%lti (ervice 3gencies *M(3s+. Baroda ($aro'gar Oikas (ansthan *B(O(+ is another initiative for capacit& b%ilding b& providing appropriate training for skill %pgradation to %nemplo&ed &o%th and $omen for their gainf%l emplo&ment. Centenary >ear commitments F%ring the Centenar& Gear, the Bank is committed to contin%e its initiatives to$ards Corporate (ocial Responsibilities. Baroda )rameen <aramarsh 9endra *B)<9+ N a centre for 9no$ledge (haring, <roblem solving and Credit Co%nseling for the R%ral Comm%nit&, is one of s%ch initiatives. Concept : 0or the r%ral comm%nit&, especiall& for the farmers, there is a big F?no9led e ,apG in financial literac&, better farming practices, technolog& adoption, diversification of opport%nities, market linked prices, val%e addition services offered b& vario%s instit%tions, $omen empo$erment and also for emplo&ment opport%nities for r%ral &o%th. In addition to this, the deficienciesP ignorance abo%t credit related repa&ment d%ring distress sit%ations call for credit co%nseling. Aith a vie$ to assist the r%ral comm%nit&, the Bank has concept%alised JBaroda )rameen <aramarsh 9endra *B)<9+M and its implementation b& the dedicated team, $hich $o%ld b%ild the confidence of the r%ral people. #cti8ities to !e co8ered: 1. 0inancial :d%cation and 0inancial Incl%sion . Information sharing and problem solving on technical iss%es 3. Credit co%nseling */ Financial %ducation and Financial Inclusion:

(preading J0inancial 3$arenessM among r%ral masses thro%gh village level meetings and help them to choose s%itable banking prod%cts. 1!!E 0inancial Incl%sion in 461! villages.

2/ Information sharin and pro!lem sol8in :

Interface sessions $ith the (%b'ect Matter (pecialists from 9no$ledge instit%tions like 3gri. 5niversities, 9O9s, D)1s, etc. <roviding e=tension services to the farmers b& organi2ing P participating in )rameen melas, #O ; Radio talks, 0ilm P <%ppet sho$s, etc. Maintaining a small librar& containing books, 'o%rnals, a%dio6vis%al aids, etc. Information on the prices of 3gric%lt%re commodities in vario%s mandis across the co%ntr& so that the farmers can sell their prod%cts at best price.

H/ Credit Counselin :

<roviding credit co%nseling on repa&ment pattern, rephasement, resched%lement and fresh credit d%ring distress sit%ations for r%ral people.

Baroda 0i=ed Feposit 3cco%nt Ah& '%st let &o%r mone& idle, $hen &o% can idle it $ith interestS Fepending on the period, o%r vario%s fi=ed deposit prod%cts help &o% get the best o%t of &o%r savings b& offering &o% good interest rates. :n'o& both sec%rit& and competitive rates of interest on &o%r deposits $ith an& of the follo$ing prod%cts. Click each prod%ct for more information.

For Deposits upto *2 months:

o

'hort Deposits

For Deposits o8er *2 months:

o o o

Fast #ccess Deposit 'cheme BoB Fle;i!le Fi;ed Deposit 'cheme Re ular Income Plan #,RICU(TUR%:

3)RIC5/#5R3/ 0ID3DC: (C8:M:( B 3gric%lt%re being the backbone of the Indian :conom&, Bank of Baroda, is contrib%ting significantl& in accelerating the pace of r%ral development b& providing finance to farmers b& $a& of follo$ing agric%lt%re prod%cts. Baroda 9isan Credit Card *B9CC+6 :mpo$ering the farmer B #he B9CC facilit& designed e=cl%sivel& for the benefit of the farmers aims to provide them the opport%nit& to manage and %tilise their f%nds in the manner the& deem fit. B9CC provide ade>%ate and timel& s%pport to farmers for their prod%ction needs e.g. p%rchase of >%alit& inp%ts, investment re>%irements like p%rchase of agric%lt%re implementsPtractor etc, farming e=penses to$ards farm maintenance, %nforeseen famil& e=penses *cons%mption+ and maintenance of non6farm activities. <%rchase of agric%lt%ral implements incl%ding indigeno%s improved ones being %tilised for field operations incl%ding harvestingPsortingPgrading, for not onl& to farmers, b%t also for land6less labo%rers.

'mall 'cale Industries 3 'mall 'cale Industrial Unit, is one $hich is engaged in the man%fact%re, processing or preservation of goods or is a servicing and repair $orkshop %ndertaking repairs of machiner& %sed for prod%ction, mining or >%arr&ing or c%stom service %nit *e=cept $ater service %nits+, having investments in plant and machiner& *original cost+ not e=ceeding Rs. 1 Crore. Bank of Baroda has special (oans and #d8ances for the p%rpose of fi=ed capital investment and also for $orking capital re>%irement.

Baroda ,eneral Credit Card 'cheme 5B,CC7: Bank of Baroda presents a tailor6made Credit Card (cheme for the citi2ens belonging to the r%ral and semi6%rban parts of India. Baroda )eneral Credit Card (cheme *B)CC+ is designed to provide hassle free and eas& credit access to people in the r%ral and semi6%rban areas. 9e& Benefits

Do insistence on sec%rit&, p%rpose or end6%se of credit 5pto a ma=im%m limit of Rs. 4!!!P6 5nlimited n%mber of $ithdra$als and repa&ments *$ithin the credit limit+

Bank of Baroda Ne;t &as "iles to oI

#BOUT U' Bank of Baroda, one of India?s oldest and largest <(5 banks, has al$a&s made a concerted effort to sta& in t%ne $ith changing times and cons%mer preferences. B#ROD# N%JT K F 'T#T%-OF-T&%-#RT- 'TR#I,&T FRO" T&% &%#RTM Baroda De=t is Bank of Baroda?s initiative to offer high6tech banking sol%tions $itho%t losing the h%man to%ch. It aims to bring in ne$ technologies, s&stems and processes to offer fast, prompt and paperless banking sol%tions. 3t the same time, it also foc%ses on n%rt%ring long term relationships and s%perior c%stomer service. 'TIC?"#N

#he protagonist (tickman is o%r c%stomer $ho discovers the 'o& of technolog& in banking $ith Bank of Baroda. In a series of ads, stick man faces a n%mber of trick& sit%ations $hich he resolves %sing Bank of BarodaKs services in a h%moro%s and endearing manner. Go% $ill e=perience the magic as &o% f%rther s%rf the pages of this site

PRODUCT OF BARODA NEXT:

ON(IN% P#>"%NT OF IN'UR#NC% PR%"IU"' #o %nleash the po$er of technolog& for the convenience of o%r c%stomers, $e have devised a series of e6banking prod%cts and services. #hro%gh Baroda Connect internet banking facilit&, $e let &o% pa& &o%r ins%rance premi%m online so that &o% don?t have to r%n aro%nd to pa& &o%r premi%ms. Beca%se at Bank of Baroda, $e %nderstand time is ver& precio%s to &o%, and $e are committed to compliment &o%r effort to do things faster $ith less strain or stress to &o%. &O"% (O#N: "O=% INTO DR%#" &O"% IN L D#>': Go% don?t have to $ait for &o%r dream home for long. #hro%gh simplified processing s&stems, $e offer &o% home loan in '%st 6 da&s. #he loan is available for constr%ction of ne$ ho%se, p%rchase of ne$Pold ho%sePflatPresidential plot and e=tensionPrenovation of e=isting ho%sePflat.

/oans are also available for those $ho $ish to transfer their e=isting home loan from another financial instit%tionPbank to Bank of Baroda. ON(IN% UTI(IT> BI((' P#>"%NT :

#o %nleash the po$er of technolog& for the convenience of o%r c%stomers, $e have devised a series of e6banking prod%cts and services. Do$ &o% can stop $orr&ing abo%t d%e dates of &o%r bills and live a rela=ed life as $e make life easier b& offering Baroda Connect internet banking facilit& to pa& &o%r bills online. Beca%se at Bank of Baroda, $e %nderstand time is ver& precio%s to &o%, and $e are committed to compliment &o%r effort to do things faster $ith less strain or stress to &o%. INDI#FIR'T (IF% IN'UR#NC%: Aoint 8enture on !ank of !aroda < (e al < ,eneral < #ndhra Bank ,O(D COIN:

Bank of Baroda offers sale of 4 9arat ---.- p%re ($iss made gold coins $ith 3ssa& Certification in the denomination of , 4, 4 ; . grams in ro%nd shape and 1! grams bar. #hese coins are available for sale at select <1( Branches/ Baroda Oid&asthali /oan Baroda =idyasthali /oan is a special scheme for financing :d%cational Instit%tions.

PURPO'% #o meet the financial re>%irements for setting %p the instit%tions $hich incl%des constr%ction of b%ilding, p%rchase of e>%ipment etc. for the ne$ set %p as also renovation of the e=isting facilities, p%rchase of instr%ments for imparting ed%cation training to the st%dents. Baroda #ro yadham (oan: PURPO'% #o meet the financial re>%irements for setting %p of ne$ D%rsing 8omeP8ospital incl%ding <athological /aborator&, :=pansionPrenovationPmoderni2ation of e=isting D%rsing 8omeP 8ospital incl%ding <athological /aborator&, <%rchase of medical diagnostic e>%ipments as also office e>%ipments, vi2. comp%ters, air conditioners, office f%rnit%re, <%rchase of amb%lance etc and to meet $orking capital re>%irements.

Baroda #rtisans Credit Card 5B#CC7: PURPO'%

#o provide ade>%ate and timel& assistance to the artisans to meet their credit re>%irements 6 both investment needs as $ell as $orking capital 6 in a fle=ible and cost effective manner. #he scheme is implemented in r%ral and %rban areas.

(oans Under Interest 'u!sidy %li i!ility Certificate 'cheme of ?hadi < =illa e Industries Commission 5?=IC-I'%C7 Purpose #o finance instit%tional financing agencies for lending to 9hadi ; Oillage Ind%stries CR%DIT C#RD:

BOBC#RD %JC(U'I=% 6O"#N

D%'CRIPTION B1BC3RF :=cl%sive Aoman Card is a trib%te to the glorio%s $omen of India $ho are acclaimed for their contrib%tions to the h%man civili2ation. B1BC3RF( presents this Card to offer its gratit%de to the great $omen so%ls of the land. #his card is $elcomed at over - million Merchant :stablishments and over .,!!,!!! 3#Ms

"#R?%TIN, 'TR#T%,> OF T&IRD P#RT> PRODUCT IN ,%N%R#( #ND NON (IF% PRODUCT : &istory of insurance Ins%rance began as a $a& of red%cing the risk of traders, as earl& as 4!!! BC in China and 44!! BC in Bab&lon. /ife ins%rance dates onl& to ancient Rome@ Cb%rial cl%bsC covered the cost of members? f%neral e=penses and helped s%rvivors monetaril&. Modern life ins%rance started in 1"th cent%r& :ngland, originall& as ins%rance for tradersT"U B merchants, ship o$ners and %nder$riters met to disc%ss deals at /lo&d?s Coffee 8o%se, predecessor to the famo%s /lo&d?s of /ondon. #he first ins%rance compan& in the 5nited (tates $as formed in Charleston, (o%th Carolina in 1"3 , b%t it provided onl& fire ins%rance. #he sale of life ins%rance in the 5.(. began in the late 1"6!s. #he <resb&terian (&nods in <hiladelphia and De$ Gork created the Corporation for Relief of <oor and Fistressed Aido$s and Children of <resb&terian Ministers in 1"4-@ :piscopalian priests organi2ed a

similar f%nd in 1"6-. Bet$een 1"." and 1.3" more than t$o do2en life ins%rance companies $ere started, b%t fe$er than half a do2en s%rvived. <rior to the 3merican Civil Aar, man& ins%rance companies in the 5nited (tates ins%red the lives of slaves for their o$ners. In response to bills passed in California in !!1 and in Illinois in !!3, the companies have been re>%ired to search their records for s%ch policies. De$ Gork /ife for e=ample reported that Da%til%s sold 4.4 slaveholder life ins%rance policies d%ring a t$o6&ear period in the 1.4!s@ the& added that their tr%stees voted to end the sale of s%ch policies 14 &ears before the :mancipation <roclamation.

Ins%rance developed from the fo%rteenth cent%r& as a means of spreading h%ge risks attendant on earl& maritime enterprises@ life and fire ins%rance developed later. #he main classes of ins%rance are life and other personal ins%rance, marine ins%rance, accident or propert& ins%rance and liabilit& ins%rance $hen the s%m becomes pa&able $hen legal liabilit& is inc%rred as for personal in'%ries or professional negligence to another. (IF% IN'UR#NC% : life ins%rance is a contract bet$een the ins%rer and the policy owner $hereb& a benefit is paid to the designated beneficiaries if an insured e!ent occ%rs $hich is covered b& the polic&. In ret%rn, the polic& o$ner agrees to pa& a stip%lated amo%nt at reg%lar intervals or in l%mp s%ms. #here ma& be designs in some co%ntries $here bills and death e=penses pl%s catering for after f%neral e=penses sho%ld be incl%ded in <olic& <remi%m. In the 5nited (tates, the predominant form simpl& specifies a l%mp s%m to be paid on the ins%red?s demise. /ife6based contracts tend to fall into t$o ma'or categoriesB

<rotection policies 6 designed to provide a benefit in the event of specified event, t&picall& a l%mp s%m pa&ment. 3 common form of this design is term ins%rance. Investment policies 6 $here the main ob'ective is to facilitate the gro$th of capital b& reg%lar or single premi%ms. Common forms *in the 5( an&$a&+ are $hole life, %niversal life and variable life policies.

Types of life insurance /ife ins%rance ma& be divided into t$o basic classes N temporar& and permanent or follo$ing s%bclasses 6 term, %niversal, $hole life and endo$ment life ins%rance. #here are three ke& factors to be considered in term ins%ranceB

0ace amo%nt *protection or death benefit+, <remi%m to be paid *cost to the ins%red+ /ength of coverage *term+

Oario%s ins%rance companies sell term ins%rance $ith man& different combinations of these three parameters. #he face amo%nt can remain constant or decline. #he term can be for one or more &ears. #he premi%m can remain level or increase. Common t&pes of term ins%rance incl%de /evel, 3nn%al Rene$able and Mortgage ins%rance. /evel #erm polic& has the premi%m fi=ed for a period of time longer than a &ear. #hese terms are commonl& 4, 1!, 14, !, 4, 3! and even 34 &ears. /evel term is often %sed for long term planning and asset management beca%se premi%ms remain consistent &ear to &ear and can be b%dgeted long term. 3t the end of the term, some policies contain a rene$al or conversion option. )%aranteed Rene$al, the ins%rance compan& g%arantees it $ill iss%e a polic& of e>%al or lesser amo%nt $itho%t regard to the ins%rabilit& of the ins%red and $ith a premi%m set for the ins%red?s age at that time. (ome companies ho$ever do not g%arantee rene$al, and re>%ire proof of ins%rabilit& to mitigate their risk and decline rene$ing higher risk clients *for instance those that ma& be terminal+. Rene$al that re>%ires proof of ins%rabilit& often incl%des a conversion options that allo$s the ins%red to convert the term program to a permanent one that the ins%rance compan& makes available. #his can force clients into a more e=pensive permanent program beca%se of anti selection if the& need to contin%e coverage. Rene$al and conversion options can be ver& important $hen selecting a program. 6hat is ,eneral InsuranceD

Ins%rance other than L/ife Ins%ranceK falls %nder the categor& of )eneral Ins%rance. )eneral Ins%rance comprises of ins%rance of propert& against fire, b%rglar& etc, personal ins%rance s%ch as 3ccident and 8ealth Ins%rance, and liabilit& ins%rance $hich covers legal liabilities. #here are also other covers s%ch as :rrors and 1missions ins%rance for professionals, credit ins%rance etc.

Don6life ins%rance companies have prod%cts that cover propert& against 0ire and allied perils, flood storm and in%ndation, earth>%ake and so on. #here are prod%cts that cover propert& against b%rglar&, theft etc. #he non6life companies also offer policies covering machiner& against breakdo$n, there are policies that cover the h%ll of ships and so on. In respect of ins%rance of propert&, it is important that the cover is taken for the act%al val%e of the propert& to avoid being imposed a penalt& sho%ld there be a claim. Ahere a propert& is %nderval%ed for the p%rposes of ins%rance, the ins%red $ill have to bear a ratable proportion of the loss #here are general ins%rance prod%cts that are in the nat%re of package policies offering a combination of the covers mentioned above. 0or instance, there are package policies available for ho%seholders, shop keepers and also for professionals s%ch as doctors, chartered acco%ntants etc. 3part from offering standard covers, ins%rers also offer c%stomi2ed or tailor6made ones. Ins%ring an&thing other than h%man life is called general ins%rance. :=amples are ins%ring propert& like ho%se and belongings against fire and theft or vehicles against accidental damage or theft. In'%r& d%e to accident or hospitali2ation for illness and s%rger& can also be ins%red. Go%r liabilities to others arising o%t of the la$ can also be ins%red and is comp%lsor& in some cases like motor third part& ins%rance. T&IRD P#RT> IN'UR#NC%B #here are t$o >%ite different kinds of ins%rance involved in the damages s&stem. 1ne is #hird <art& liabilit& ins%rance, $hich is '%st called liabilit& ins%rance b& ins%rance companies and the other one is first part& ins%rance. 3 third part& ins%rance polic& is a polic& %nder $hich the ins%rance compan& agrees to indemnif& the ins%red person, if he is s%ed or held legall& liable for in'%ries or damage done to a third part&. #he ins%red is one part&, the ins%rance compan& is the second part&, and the person &o% *the ins%red+ in'%re $ho claims damages against &o% is the third part&. 'alient Features of Third Party Insurance #hird part& ins%rance is comp%lsor& for all motor vehicles. In ). )ovindan v. De$ India 3ss%rance Co. /td.T U,#hird part& risks ins%rance is mandator& %nder the stat%te .#his provision cannot be overridden b& an& cla%se in the ins%rance polic&. #hird part& ins%rance does not cover in'%ries to the ins%red himself b%t to the rest of the $orld $ho is in'%red b& the ins%red.

Beneficiar& of third part& ins%rance is the in'%red third part&, the ins%red or the polic& holder is onl& nominall& the beneficiar& of the polic&. In practice the mone& is al$a&s paid direct b& the ins%rance compan& to the third part& *or his solicitor+ and does not even pass thro%gh the hands of the ins%red person. In third part& policies the premi%ms do not var& $ith the val%e of $hat is being ins%red beca%se $hat is ins%red is the Llegal liabilit&K and it is not possible to kno$ in advance $hat that liabilit& $ill be. #hird part& ins%rance is almost entirel& fa%lt6based.*means &o% have to prove the fa%lt of the ins%red first and also that in'%r& occ%rred from the fa%lt of the ins%red to claim damages from him+ #hird part& ins%rance involves la$&ers aid #he third part& ins%rance is %npop%lar $ith ins%rance companies as compared to first part& ins%rance, beca%se the& never kno$ the ma=im%m amo%nts the& $ill have to pa& %nder third part& policies.

T&IRD P#RT> PRODUCT : (IF% IN'UR#NC%: - INDI#FIR'T (IF% IN'UR#NC% ,%N%R#( IN'UR#NC%: - B#ROD# &%#(T& < NIC(

AOINT =%NTUR% OF:

<

<

=ision: Become a life insurance and pensions business leader in providing significant value for all stakeholders through true customer delight Bank of BarodaB is the 3rd largest p%blic sector bank in the co%ntr& $ith an enviable net$ork of over 3!!! branches that spreads across the geograph& of India and over "! branches across co%ntries globall&V #his behemoth financial instit%tion is over 1!! &ears old and has been b%ilt on financial pr%dence, corporate governance and most importantl& N the tr%st of val%able c%stomers like &o%. #ndhra Bank has been serving the Indian c%stomer for over .4 &ears and c%rrentl& has a net$ork of over 14!! branches. #he bank has developed best in class deposit and lending schemes for its val%ed c%stomers. Both the banks are nationali2ed and provide best in class prod%cts and services to ever& Indian citi2en. (e al < ,eneral is one of 59Ks leading financial instit%tions $ith a heritage of over 14! &ears. It provides life ass%rance, pensions, investments and general ins%rance plans to over 4 crore c%stomers across co%ntries. /egal and )eneral brings rich f%nd management and ins%rance e=perience into India and aspires to provide first6rate prod%cts and services to the doorstep of ever& Indian c%stomer in con'%nction $ith the tr%sted p%blic sector banks.India 0irst /ife Ins%rance Co. /td. is a 3 $a& 'oint vent%re of Bank of Baroda, 3ndhra Bank and /egal ; )eneral *59+, in $hich Bank of Baroda holds ma'or share of 44E and remaining 3!E ; 6E are shared bet$een 3ndhra Bank and /egal ; )eneral *59+ respectivel&. Bank of Baroda entered into a (trategic Marketing tie6%p $ith the compan& for distrib%tion of its life ins%rance prod%cts across the BankKs branches on 1 th Dovember, !!- at M%mbai. Banking Channel is one of the best platforms for reaching o%t to the masses more partic%larl& in r%ral and semi6%rban area $here the vast potential lies for ins%rance b%siness. BankKs fora& into life ins%rance b%siness thro%gh this 'oint vent%re ro%te $ill help its c%stomers to have convenience of all at one place at the branches of the Bank in catering to their ins%rance needs. #he Compan& since plans to initiall& foc%s on bancass%rance model, it $ill be largel& benefited b& the BankKs large presence thro%gho%t the co%ntr& in a%gmenting its b%siness. Aith this tie6%p, the BankKs c%stomers $ill get eas& access to the ins%rance schemes of India 0irst /ife Ins%rance Co. /td. #his

'oint vent%re brings together a real %nderstanding of the Indian cons%mers b& the promoter banks $ith international best practices developed b& /egal ; )eneral. Ae aim to provide $orld class prod%cts and services that are c%stomi2ed to meet the re>%irements of the Indian cons%mer. #he three promoters p%t together have over 36! combined &ears of service to c%stomers across the $orld an envio%s achievement. #he compan& plans to initiall& foc%s on the bancass%rance model. It plans to leverage the e=isting c%stomer base of over 4! million c%stomers of the promoter banks spread across 4,4!! branches in the co%ntr&. :ach bank has its o$n segmentation and profile of c%stomers. Both have a h%ge semi %rban and r%ral net$ork. #he challenge for the compan& is to optimall& e=ploit the entire potential provided b& both Bank of Baroda and 3ndhra Bank. #he ne$ corporate identit& represents the compan&?s personalit&. India0irst aims to be modern in its o%tlook, creative in its approach, energetic in its attit%de, foc%s on principles, cheerf%l and vibrant &et simple and clear in its comm%nication. It aims to al$a&s place the Indian cons%mer 0irst in ever&thing it does. 1%r philosoph& of p%tting the c%stomer 0irst together $ith o%r cost effective distrib%tion model, $ill enable %s to make a real long6term contrib%tion to the Indian econom& b& broadening the choices available to o%r c%stomers as the& harvest the fr%its of their economic s%ccess and invest them for a stable long term f%t%re for themselves and their families. #he& are a testimon& to the commitment of o%r promoters of al$a&s p%tting o%r c%stomers 0irst in ever&thing $e do. Ae represent India?s ne$ fo%nd confidence, its resolve, grit and spirit. #he $ave in the logo represents the colors of the three promoters Bank of Baroda, 3ndhra Bank and /egal ; )eneral. Fr. Dandagopal added, India0irst is an open, modern and hard$orking organi2ation. Ae believe in doing things right for the c%stomer, the distrib%tors and o%r shareholders. Ae as a compan& are committed to providing val%e for mone& prod%cts and service e=cellence to o%r c%stomers. India0irst /ife Ins%rance has, so far, collected Rs !! crore as premi%m in fo%r months of operations and is all set to release more prod%cts in the c%rrent financial &ear, according to Fr <. Dandgagopal, Managing Firector and C:1.3t a press meet here on #h%rsda&, he said the compan& W a 'oint vent%re bet$een the 3ndhra Bank, the Bank of Baroda and /egal ; )eneralW had made rapid strides, $ith onl& three prod%cts. J#he compan& is offering India0irst :d%cation <lan, India0irst (avings <lan and India0irst 0%t%re <lan. Ae $ill release t$o more prod%cts on 3pril 1 6 Creditlife and )ro%pterm. In the c%rrent financial &ear, $e are planning si= to eight ne$ prod%cts,M he said.8e said the compan& c%rrentl& $as selling its prod%cts thro%gh3,!!! branches of 3ndhra Bank and Bank of Baroda.JBoth the banks p%t together have 4,4!! branches and $e $ill in a fe$ more months? time e=tend o%r services to all the branches,M he added.JIn f%t%re,

the prod%cts ma& be sold thro%gh the regional r%ral banks of both3ndhra Bank as $ell as Bank of Baroda, he said.Fr Dandagopal said the compan& $as also planning to have of its o$n and in 3ndhra <radesh initiall& three branches $o%ld be set %p W one each in 8&derabad, Oi'a&a$ada and Oisakhapatnam. F%ring the c%rrent financial &ear, 4! s%ch independent branches ma& be set %p in the co%ntr&.8e said, J1%r aim is to offer simple prod%cts s%ited to the needs of o%r c%stomers, fairl& priced and tr%thf%ll& delivered. Ae insist on sho$ing the a%dio6 vis%als to o%r c%stomer and e=plain all the feat%res of the prod%cts to them.M

'#(I%NT F%#TUR%' #ND B%N%FIT': Go% can b%ild &o%r savings corp%s s&stematicall&, thro%gh investments in vario%s f%nds. Go% sec%re the f%t%re of &o%r famil&, as the& get an ass%red l%mp s%m benefit immediatel&, in case of &o%r %ntimel& death. Go% have the option to invest in debt, e>%it& or a balanced f%nd, $here &o% choose the proportion of &o%r investment into eachV Go% can make the most of &o%r investments b& Ls$itchingK from one f%nd to another. Go% have the option to b%ild %p &o%r corp%s thro%gh additional deposits. Go% get eas& access to &o%r mone& b& being able to $ithdra$ partiall&. 5nder (ection .!C &o% can en'o& #a= Benefits on the premi%m &o% invest.

 Go% also get ta= benefits on the benefits &o% receive at mat%rit& of &o%r pa&ment. PRODUCT OF INDI#FIR'T IN'UR#NC%:

>our child4 your prideM Our responsi!ilityC

Ae %nderstand that, as a parent, &o% $ant to give nothing b%t the best to &o%r child. Be it &o%r childKs ed%cation or an& dream. Go% $ill not allo$ an&thing to come in the $a& of &o%r childKs s%ccess. #o help &o% give &o%r child ever&thing that &o% have dreamt of, $e have introd%ced the India0irst :d%cation <lan.

B%N%FIT' #ND F%#TUR%'B Go%r child $ill al$a&s receive f%nds at ever& momento%s occasion in hisPher life. Be it 8igh (chool P CollegeP <rofessional co%rse or an& other life eventV

Go%r child gets financial sec%rit& even if an& %nto$ard incident res%lts in &o%r death P disabilit&. Ae $ill do this b& pa&ing the remaining premi%ms into &o%r polic&.

Go%r child, $ho $e ma& also refer as the L Beneficiar& L, receives the 0%nd Oal%e at Mat%rit&even if the L(%m 3ss%redK has been paid o%t on the %nfort%nate incident of &o%r demise. Go% have the option to invest in debt, e>%it& or a balanced f%nd, $here &o% choose the proportion of &o%r investment into eachV Go% can make the most of &o%r investments b& Ls$itchingK from one f%nd to another. Go% have the option to b%ild %p &o%r corp%s thro%gh additional deposits. Go% get eas& access to &o%r mone& b& being able to $ithdra$ partiall&. 5nder (ection .!C and 1!*1!F+ &o% can en'o& #a= Benefits on the premi%m &o% invest

>ou e8ol8e4 you mature/// #nd 9e help you prosperC

#he best &ears of L/ifeK o%ght to be &o%r retirement &ears. Go% have $orked hard all &o%r life, and &o% deserve the best things in life in these golden &ears. Ae identif& $ith &o%. Ae are therefore presenting the perfect plan that $ill empo$er &o% for this golden period. #he India0irst 0%t%re plan helps &o% set6 aside mone& in &o%r prime &ears $hen are generating income and en'o& a health& l%mp s%m or a stead& income in &o%r retirement &ears. B%N%FIT' #ND F%#TUR%'

Go% can choose the age at $hich &o% $ant to retire. Go% have the option to invest in Febt, :>%it& or a Balanced f%nd, $here &o% choose the proportion of &o%r investment into eachV Go% can make the most of &o%r investments b& Ls$itchingK from one f%nd to another. Go% have the option to b%ild %p &o%r retirement corp%s thro%gh additional deposits. Go% get eas& access to &o%r mone& b& being able to $ithdra$ partiall&. Go% can en'o& ta= free ret%rns %p to 1P3rd of the f%nd val%e as at &o%r chosen date of retirement *called Oesting 3ge+.

>ou dream4 you aspireM/ #nd 9e help you achie8eV

:ach of %s aspires to o$n a ho%se, dreams of e=otic overseas vacations, $ishes to f%nd o%r children in all their lifeKs events, hopes to have s%fficient retirement f%ndsX #he India0irst (avings <lan helps &o% gro$ and develop a bod& of $ealth thro%gh market linked investments. Ae help &o% save s&stematicall& and provide &o% aven%es to invest &o%r savings in f%nds, on the basis of &o%r risk appetite. B%N%FIT' #ND F%#TUR%':

Go%r child $ill al$a&s receive f%nds at ever& momento%s occasion in hisPher life. Be it 8igh (chool P CollegeP <rofessional co%rse or an& other life eventV

Go%r child gets financial sec%rit& even if an& %nto$ard incident res%lts in &o%r death P disabilit&. Ae $ill do this b& pa&ing the remaining premi%ms into &o%r polic&. Go%r child, $ho $e ma& also refer as the L Beneficiar& L, receives the 0%nd Oal%e at Mat%rit&even if the L(%m 3ss%redK has been paid o%t on the %nfort%nate incident of &o%r demise. Go% have the option to invest in debt, e>%it& or a balanced f%nd, $here &o% choose the proportion of &o%r investment into eachV Go% can make the most of &o%r investments b& Ls$itchingK from one f%nd to another.

>our protection4 our securityM B%N%FIT' #ND F%#TUR%': :n'o& the benefits of a life cover for a period of %p to 3! &ears at an e=tremel& reasonable price

#he life ass%red?s famil& is sec%red, as the& get an ass%red l%mp s%m benefit immediatel&, in case of the life ass%red?s %ntimel& death 5nder (ection .!C &o% can en'o& ta= benefits on the premi%m &o% invest

Y 5nder (ection 1! *1!F+ &o%r famil& also gets ta= break on the benefits the& receive from &o%r plan

Risk factors #here is no mat%rit& or s%rvival benefit pa&able %nder this plan Y this is a non participating p%re term ass%rance

>our people4 your trustM our accounta!ility

B:D:0I#( 3DF 0:3#5R:(B Go% can no$ provide life cover at reasonable rates to &o%r members N be it &o%r emplo&ees or &o%r c%stomers. Go% have the fle=ibilit& to a%tomaticall& cover the life of all &o%r members or offer it as a vol%ntar& scheme $here &o%r members ma& choose to participate.

Go% have the fle=ibilit& to choose bet$een three premi%m pa&ing fre>%encies.

 #he plan provides &o% the fle=ibilit& of adding ne$ members d%ring the plan &ear. Go% can also opt for the :mplo&ees Feposit /inked Ins%rance *:F/I+ scheme %nder this plan. #he plan is rene$ed &earl&. Risk factors: #he s%m ass%red is paid to the nominee thro%gh &o%, the master polic&holder Go% ma& ded%ct an& amo%nt d%e before pa&ing the proceeds to the nominee. 8o$ever, this is not applicable %nder :F/I Minim%m gro%p si2e is 4!. #a= la$s are s%b'ect to change from time to time. <lease speak to &o%r ta= cons%ltant before deciding to invest in an& financial planning tool. <lease read the entire broch%re to %nderstand ho$ this plan can $ork for &o%.

>ou !uild your dreams4 9e help protect themM

B%N%FIT' #ND F%#TUR%':

Go% can enhance &o%r prod%ct offering b& combining ins%rance $ith &o%r credit or loan prod%cts Go% can protect &o%r assets against %ncertaint&.

 Ae help &o% do this b& pa&ing the o%tstanding loan amo%nt in the %nfort%nate event of the memberKs demise Go% have the fle=ibilit& to choose the coverage and the mode of pa&ment &o% $ant to offer &o%r members.

IndiaFirst #nnuity Plan: #his is a traditional Immediate 3nn%it& plan, $hich can be p%rchased b& pa&ing a l%mp s%m amo%nt. Go% get the choice to select &o%r retirement age, and $e pa& &o% a fi=ed ann%it& on a monthl& basis for life. ?ey Features Y Go% can choose &o%r retirement age as per &o%r need@ Go% can reap the ret%rns starting an&time bet$een 4! and .! &ears. Y Go% can receive a definite reg%lar monthl& income thro%gh &o%r &ears of retirement. / 6&#T I' T&% %(I,IBI(IT> FOR %NT%RIN, T&% P(#ND #he eligibilit& criterion is as %nderB Minim%m age at entr& 4! &ears *attained+ Ma=im%m age at entr& .! &ears *attained+ 3.6&#T I' T&% "OD% FOR P#>"%NT OF PR%"IU"'D #his is like a single premi%m polic&. Go% make a single l%mp s%m pa&ment to enter the plan. #his pa&ment is called the p%rchase price paid thro%gh che>%e, FF or :C(.

N/6&#T I' T&% T%R" FOR #NNUIT> P#>OUT'D #he term for ann%it& pa&o%ts is as follo$sB #erm for 3nn%it& pa&o%ts (ingle /ife 3nn%it& i.e. $e $ill pa& &o% the ann%it& till as long as &o% live.

IN ,%N%R#( IN'UR#NC% 6% &#=% TI% UP 6IT& N#TION#( IN'UR#NC% CO"P#N> (I"IT%D 6&IC& PRO=ID% B#ROD# &%#(T& PO(IC> :

CO"P#N> PROFI(%:

National Insurance Company (imited $as incorporated in 1-!6 $ith its Re istered office in ?olkata. Conse>%ent to passing of the )eneral Ins%rance B%siness Dationalisation 3ct in 1-" , 1 0oreign and 11 Indian Companies $ere amalgamated $ith it and National became a s%bsidiar& of )eneral Ins%rance Corporation of India *)IC+ $hich is f%ll& o$ned b& the )overnment of India. 3fter the notification of the )eneral Ins%rance B%siness *Dationalisation+ 3mendment 3ct, on "th3%g%st !! , National has been de6linked from its holding compan& )IC and presentl& operating as a )overnment of India %ndertaking. Dational Ins%rance Compan& /td *DIC+ is one of the leading p%blic sector ins%rance companies of India, carr&ing o%t non life ins%rance b%siness. 8ead>%artered in 9olkata, DIC?s net$ork of abo%t 1!!! offices, manned b& more than 16,!!! skilled personnel, is spread over the length and breadth of the co%ntr& covering remote r%ral areas, to$nships and metropolitan cities. DIC?s foreign operations are carried o%t from its branch offices in Depal. Befittingl&, the prod%ct ranges, of more than !! policies offered b& DIC cater to the diverse ins%rance re>%irements of its *N million polic&holders. Innovative and c%stomi2ed policies ens%re that even speciali2ed ins%rance re>%irements are f%ll& taken care of.

Dational Ins%rance Co /td a$arded C"ost Preferred Non (ife InsurerC b& CNBC #6##O Consumer #9ards 2++P

6% #R%: #he fastest gro$ing Don6life Ins%rance Compan& in India #he second largest Don6life Ins%rance Compan& in India Internationall& recogni2ed as one of the top 4 )eneral Ins%rance Companies in the 3sia <acific. CU'TO"%R '%R=IC% INITI#TI=%' :stablishing Connectivit& among 1!!! offices $ith in the co%ntr& 0acilit& to get <olic& thro%gh D:# #ie6%ps $ith leading Banks, Corporate (ectors, (tate )overnment Conciliator& 0ora for facilitating >%ick settlement of Motor #hird <art& claims, Compromise settlement, /ok 3dalat and ,ald Rahat Go'ana.7onal 3dvisor& Committees set %p to maintain progress. PRODUCT D%=%(OP"%NT More than !! prod%cts available to cater to the needs of vario%s sectors of the econom&. Contin%o%s prod%ct development to meet emerging needs of societ& and ind%str&. R;F cell set %p at 8ead 1ffice for distinctive prod%ct innovation relevant to indigeno%s conditions and r%ral masses. #he paid6%p share capital of National is Rs.1!! crores. (tarting off $ith a premi%m base of 4!! million r%pees *4! crores r%pees+ in 1-"4, DIC?s gross direct

premi%m income has steadil& gro$n to 4 "-- million r%pees *4 "-.- crores r%pees+ in the financial &ear !!.6 !!-. National transacts general ins%rance b%siness of 0ire, Marine and Miscellaneo%s ins%rance. #he Compan& offers protection against a $ide range of risks to its c%stomers. #he Compan& is privileged to cater its services to almost ever& sector or ind%str& in the Indian :conom& vi2. Banking, #elecom, 3viation, (hipping, Information #echnolog&, <o$er, 1il ; :nerg&, 3gronom&, <lantations, 0oreign #rade, 8ealthcare, #ea, 3%tomobile, :d%cation, :nvironment, (pace Research etc. Dational Ins%rance is the second largest non life ins%rer in India having a large market presence in Dorthern and :astern India. #he stead& gro$th in premi%m income has been commens%ratel& matched b& profits over the &ears. 3s of March !!-, DIC?s general reserve stood at 13!.!.4 million r%pees *13!..!4 crores r%pees+ $ith a net $orth of 4!14.-" million r%pees *4!1.4- crores r%pees+ signaling strong financial f%ndamentals. Do $onder than that DIC has been accorded J333P(#3B/:M financial strength rating b& CRI(I/ rating agenc&, $hich reflects the highest financial strength to meet polic&holdersK obligations. Banking, #elecom, 3viation, (hipping, Information #echnolog&, <o$er, 1il ; :nerg&, 3gronom&, <lantations, 0oreign #rade, 8ealthcare, #ea, 3%tomobile, :d%cation, :nvironment, (pace Research etc. Dational Ins%rance is the second largest non life ins%rer in India having a large market presence in Dorthern and :astern India. #he stead& gro$th in premi%m income has been commens%ratel& matched b& profits over the &ears. 3s of March !!-, DIC?s general reserve stood at *H+3+/0 million rupees 5*H+3/+0 crores rupees7 $ith a net $orth of 0+*0/P. million rupees 50+*/0P crores rupees7 signaling strong financial f%ndamentals. Do $onder than that DIC has been accorded F###@'T#B(%G financial stren th ratin !y CRI'I( rating agenc&, $hich reflects the highest financial strength to meet polic&holdersK obligations.

'6OT #nalysis 'TR%N,T& Brand Name of Bank of Baroda B6#he name of the IDFI30IR(# is kno$n in all over the co%ntr& as n%mber one bank in the p%blic sector and this is the name $hich people have tr%sted for man& &ears, $hich is mainl& d%e to the Bank of Baroda. IDFI30IR(# Ins%rance, do not have the crises of the brand name 'TRON, FIN#NCI#( B#C?IN,B 6 the IDFI30IR(# Ins%rance had a strong financial backing from their promoter, *Bank of Baroda and IDFI30IR(#+, $hich help the compan& to b%ild tr%st on the mind of the people. 'TRON, '#(%' FORC%: - #he Compan& has a ver& strong force of good marketing brain, $hich gives an edge over the other competitor especiall& nationali2ed ins%rance compan& like /IC. 3nd secondl& it has a ver& good distrib%tion channel $hich helps the compan& to get more clients from these reliable so%rces. #hese channel incl%de

#llied Banks like

Bank of Baroda 0ederal Bank (o%th Indian Bank Bank of India /ord 9rishna Bank (ome co6operative banks
U(IPs: 3lmost -!E of the total b%siness of IDFI30IR(# is the b%siness $ith the sale of 5/I<s and onl& 1!E of the prod%cts are the traditional ins%rance policies. (o this is the strength $hich IDFI30IR(# can $ork %pon more to get the ma=im%m positive res%lts.

6%#?N%'' (ack of Information a!out the product B6Most of the prod%ct of the IDFI30IR(# are kno$n b& the people, this is beca%se of lack of information abo%t the prod%ct and bad marketing strategies b& the compan& mainl& in small cities FOCU'IN, "#IN(> ON T&% URB#N '%CTOR:IDFI30IR(# Ins%rance mainl& foc%s on the %rban sector of the co%ntr&, $here the competition is ver& t%ft and are not concentrating on the other sector of the co%ntr& mainl& in the r%ral sector $here there.

 "ost of the Plans are too complicated:- IDFI30IR(# ins%rance plan are too comple= to %nderstand for a la&o%t person, and this makes most of the people to avoid this plan beca%se the& feel diffic%lties to %nderstand. #he same is in the case of M%t%al 0%nds.

OPPORTUNITI%' # lar e Part of cities are unco8ered: - 3 large part of the cities are %ncovered b& IDFI30IR(# ins%rance $here the& do not have an& branches. 'ome Top Nationali)ed !anks should !e made #llies: - #here are large parts of the cities $ere Dationali2ed banks have large n%mber of clients in compare to private banks, this is mainl& beca%se the& are operating for s%ch a long time and there is a good opport%nities to converted those c%stomer into IDFI30IR(# c%stomer, B& making them allies. There is a ood opportunities to increase the #d8isors !ase: - $hen $e compare the ratio of 3dvisors $ith /IC, then $e $ill find that there is a large gap bet$een them, so there is an opport%nities to increase the advisor base b& breaking the agents of /IC. T&R%#T' LIC: - /IC is the greatest threat to IDFI30IR(# in the area of ins%rance sector, beca%se it is one of the oldest ins%rance compan& in the co%ntr&, and have a large si2e of the c%stomer a base. Threat 9ith some pri8ate !anksB 6 there are some banks $hich are providing these services to their c%stomer. 3nd slo$l& taking a$a& a good market share.

Re8ie9 of (iterature

Re8ie9 of (itrature 'umit # ar9al,'ouphala Chomsisen phet and Aohn C/ Driscoll had studied a!out the (oan commitments and pri8ate firms/ They studied that4 Most loans are in the form of credit lines. :mpirical st%dies of line demand have been complicated b& their %se of data on p%blicl& traded firms, $hich have a $ide men% of financing options. Ae avoid this problem b& %sing a %ni>%e proprietar& data set from a large financial instit%tion of loan commitments made to "1 privatel&6held firms. Ae test Martin and (antomero?s *1--"+ model, in $hich lines give firms the speed and fle=ibilit& to p%rs%e investment opport%nities. 1%r findings are consistent $ith their predictions. 0irms facing higher rates and fees have smaller credit lines. 0irms $ith higher gro$th commit to larger lines of credit and have a higher rate of line %tili2ation. 0irms e=periencing more %ncertaint& in their f%nding needs commit to smaller credit lines. 3lmost all firms convert %n%sed credit line portions into spot loans and take o%t ne$

lines.Faik 9ora& and :ric #. 8illebrand had st%died abo%t the Interest Rate Oolatilit& and 8ome Mortgage /oans . the& st%died that #he 5.(. econom& has e=perienced s%bstantial fl%ct%ations in real and nominal interest rates since the 1-"!s. #his paper investigates empiricall& the relationship bet$een home mortgage loans and volatilit& in mortgage rates for the period 1-"1B! thro%gh !!3B!3. Contrar& to common $isdom, $e find a positive relationship bet$een mortgage rate volatilit& and home mortgage loans. 0%rther investigation indicates that this is d%e to volatilit& in the bond market. In times of high interest volatilit&, ho%seholds disinvest in government sec%rities and invest in real assets, $hich &ield a positive relationship bet$een mortgage rate volatilit& and home mortgage loans.

Financial #ccount of Bank of Baroda

"ar $ ** <rofit before ta= Det cashflo$6operating activit& Det cash %sed in investing activit& Detcash %sed in fin. activit& Det incPdec in cash and e>%ivlnt Cash and e>%ivalnt begin of &ear Cash and e>%ivalnt end of &ear 4,64!.3

"ar $ *+ 4, 3..!6

"ar $ +P 3,34 .-4 1,1 4.4" 6 3..-3 -!1. 1,"."..3

"ar $ +3 , !".16 , 41.. 6 34.13 ,!1 . 3 4,!1..-

"ar $ +. 1,644. 6 4,143.-4 63!".64 6 !.46 4,. 4."3

11,""...1 11, 4 .44 64.-."6 3,1"".-6 6334.!1 46 .41

14,46".!1 11,3"-.-4 34,46".!6 4,!.".1

, --. - 1., .!.3" 13,444.64 4,!.".1 , --. - 1., .!.3"

4-,-34.!" 34,46".!6

Cash flo9

Profit loss account "ar $ ** Income 1perating income %;penses Material cons%med Man%fact%ring e=penses <ersonnel e=penses 6 6 ,-16.". 6 6 ,34!... 6 6 ,34..13 6 6 6 6 3,..4.4- 1-,114."6 16,6!4.!- 13,133..1 -,44..4"ar $ *+ "ar $ +P "ar $ +3 "ar $ +.

1,.!3."6 1,644.!6

"ar $ ** (elling e=penses 3dminstrative e=penses :=penses capitalised Cost of sales 1perating profit 1ther rec%rring income 3d'%sted <BFI# 0inancial e=penses Fepreciation 1ther $rite offs 3d'%sted <B# #a= charges 3d'%sted <3# 4".41 ,44 .44 6 4,4 6..4 4,3"3.-. .!1.". 6,1"4."6

"ar $ *+ 44.46 ,!.4.!3 6 4,4.!.3" 3,."4.43 ""!.63 4,646.16

"ar $ +P 3-.-" 1, 6.!6 6 3,614.16 3,! ."6

"ar $ +3 "ar $ +. 33.1. 1,3!1.33 6 3,13.. . 4."! -!".4 6 ,4"".1.

,!-3.." 1,444..6 6...4. ,". .44 4...". ,!33.64

"!".44 3,"3!. ! -,-6..1" 3!.4! 6 3,4--."! 1,114."4 , ". 4

13,!.3.66 1!,"4...6 43.!4 6 6",14!.-3 1,4!..64 4, 41..4 3!..6 6 4,414.3! 1,1"-."3 3,!4.. .

",-!1.6" 4,4 6.46 3 .!! 6 1-4. . 6

,44!.44 1,.3-.34 ""1.63 6 "..!

1,434.16 1,!13.6

Don rec%rring items 1ther non cash ad'%stments Reported net profit

6!.1" 6 4, 41.6.

!.!4 6 3,!4..33 ,

6!.!4 6 ". !

!.3" 6 1,434.4

1 ..4 6 1,! 6.46

"ar $ **

"ar $ *+

"ar $ +P

"ar $ +3 "ar $ +.

:arnigs before appropriation :>%it& dividend <reference dividend Fividend ta= Retained earnings

4, 41.6. "43.34 6 6 3,4...33

3,!4..33 63-. 6 6 6 ,41-.!"

". ! 3.3.46 6 6

1,434.4 34!.-4 6 6 1,!-4.4.

1,! 6.46 4 .46 6 6 ""4.!1

1,.43.64

Balance sheet "ar $ ** 'ources of funds O9ner$s fund :>%it& share capital (hare application 3- ..1 6 364.43 6 364.43 6 364.43 6 364.43 6 "ar $ *+ "ar $ +P "ar $ +3 "ar $ +.

"ar $ ** mone& <reference share capital Reserves ; s%rpl%s (oan funds (ec%red loans 5nsec%red loans Total Uses of funds Fi;ed assets )ross block /ess B reval%ation reserve /ess B acc%m%lated depreciation Det block Capital $ork6in6 progress Investments 4,44..16 6 3,!4,43-.4.

"ar $ *+

"ar $ +P

"ar $ +3

"ar $ +.

6 !,6!!.3!

6 14,"4!..6

6 1 ,4"!.!1

6 1!,6"..4!

6 ., .4.41

,41,!44. 6 1,- ,3-6.-4 1,4 ,!34.13 1, 4,-14.-.

H42L4NH2/0P 240L4*0+/L0 24+042H2/NP *4LH4+.3/+0 *4HH40L0/P2

4, 66.6!

3,-44.13

3,".".14

, 44.6

, 4..44 , --."

1,-.1..4 , .4."6

1,644.41 ,3!-."

1,36!.14 ,4 ".!1

1,144..1 1,!....1

6 "1, 6!.63

6 61,1. .3.

6 4 ,444...

6 43,."!.!"

6 34,-43.63

"ar $ ** Net current assets C%rrent assets, loans ; advances /ess B c%rrent liabilities ; provisions #otal net c%rrent assets Miscellaneo%s e=penses not $ritten #otal "!,13!.! 6, 6.4!

"ar $ *+

"ar $ +P

"ar $ +3

"ar $ +.

4,34".

4,4"..1

4,3!1..3

4, 1 .4!

-,646."3

.,.14.-"

16,43..14

1 ,4-4.41

.,43"."!

63,43!.33

64,46.."4

611,-6!.!3

6., - .4.

63,

4.1-

6 4.,--..3-

6 4 ,"-4.4"

6 3.,!!4.4-

6 3 ,.!". 4

Notes: Book val%e of %n>%oted investments Market val%e of >%oted investments Contingent liabilities

1,46,!!..31 1,!4,-46.61

.",33!.46

-!,46-..4

6",-"6.3-

"ar $ ** D%mber of e>%it& shareso%tstanding */acs+

"ar $ *+

"ar $ +P

"ar $ +3

"ar $ +.

3-14.46

364 .6"

364 .6"

364 .66

364 .66

O!Qecti8e

OBA%CTI=% OF T&% 'TUD>

#o st%d& the c%stomer of B3D9 10 B3R1F3.

#o kno$ abo%t the ho$ man& people have kno$ledge abo%t ins%rance

#o kno$ abo%t marketing strateg& of IDFI30IR(# life ins%rance

 #o find o%t the problems $hich the& had or still facing from ins%rance service provide b& B3D9 10 B3R1F3.

3re the& satisf& b& the plan of Indiafirst ins%rance.

#o s%ggest meas%res that can help Indiafirst ins%rance to capt%re the market as soon as possible

#o find o%t are the& have a$areness abo%t ins%rance polic& provide b& bank of baroda.

'cope of The 'tudy

'COP% OF T&% 'TUD>

#his st%d& is limited to the cons%mers $ith in De$ Felhi cit&. #he st%d& $ill be able to reveal the preferences, needs, satisfaction of the c%stomers regarding the banking services, It also help banks to kno$ $hether the e=isting prod%cts or services the are offering are reall& satisf&ing the c%stomersK needs.

Research "ethodolo y

R%'%#RC& "%T&ODO(O,>

'OURC%' OF D#T#: #he study is "ased on "oth primary # secondary data.

 Primary data is the data that is collected personall&, and is first hand as $ell as %ni>%e in nat%re. 0or this st%d& , the primar& data has been collected $ith the help of the follo$ing t$o methodsB *1+ <ersonal intervie$ * + Z%estionnaire econdary data is second hand data or information that has alread& been collected b& someone else for a different p%rpose. 0or this st%d& , the secondar& data has been collected thro%ghB Books Maga2ines De$spapers Circ%lars In6ho%se 'o%rnals Internet #he e=plorator& research method has been adopted for st%d&. :=plorator& research is a t&pe of research cond%cted beca%se a problem has not been clearl& defined. :=plorator& research helps determine the best research design, data collection mehod and selection of s%b'ects. :=plorator& research often relies on secondar& research s%ch as revie$ing available literat%re andPor data, or >%alitative approaches s%ch as informal disc%ssion $ith emplo&ees mentors, management or competitors. R%'%#RC& IN'TRU"%NT'R #he data collection instr%ments %sed for this st%d& are personal *%nstr%ct%red+ intervie$s and >%estionnaires. #here are t$o different sets of >%estionnaires, designed to gather as m%ch relevant data as possible from the respondents. #hese >%estionnaire areB Z%estionnaire. '#"P(% D%'I,N: (ample refers to small part or s%bset of the total pop%lation, being similar and representative of $hole.

#he sample design of a sample s%rve& refers to the techni>%es for selecting a probabilit& sample and methods to obtain estimates of the s%rve& variables from the selected sample. It is an integral part of the research design.

Tar et Population: It incl%des the ne$ entrantsPemplo&ees of the bank of baroda and some other private and p%blic sector banks $ho $ere mentored.

'amplin Frame: #he sampling frame for the research incl%des ne$ emplo&ees and mentors of some of private sector and p%blic sector banks.

Type Of 'ample #he t&pe sampling choosen for the pro'ect are convenience sampling and random sampling. 3 radom sampling refers to taking a n%mber of independent observations from the same probabilit& distrib%tion , $itho%t involving an& real pop%lation . Random sampling all members of the pop%lation have an e>%al chance of being selected as part of the sample.

#otal sample si2e for the research is 1 !.

(imitation

(imitations

3s $e all kno$ that for ever& good $ork there sho%ld be some leakages also. 8ere leakages means some dra$backs. (ome of the limitations areB6 /ack of proper advertisement over the market. )ro$ing a$areness is ver& lo$. (egmented area is ver& specific. Det$ork over the $ork is ver& e=ha%stive. Compan& al$a&s believes their o$n channels 0lo$ of information moves ver& slo$. Carelessness in selection proced%re. <eople never get interested, .<eople alread& have a license, <eople $ant to kno$ abo%t prod%ct profile. <eople do not afford the training period, <eople are not interested to invest Rs. 1!!!P6,.-[<eople like to have a fi=ed salar& 'ob.

Fata 3nal&sis ; Interpretation

#N#(>'I' < INT%RPR%T#TION Z1.Fo kno$ abo%t the ins%rance S &es 4" <ercentageE -4 Do 3 4 #otal 6!

Interpretation :ver& one in kno$ abo%t ins%rance -4E people are a$are abo%t ins%rance polic& of different compan&,and the& kno$ that ins%rance give sec%rit& to famil& so that children ed%cation go ahead and make life eas& and financiall& strong.

Z ..3re &o% a$are abo%t the ins%rance polic& provide b& the bankS &es 43 percentage " no 1" . #otal 6!

Interpretation " E people are a$are abo%t the ins%rance provide the bank and onl& .E are not a$are Z3. .If &es then $hich life ins%rance or general ins%rance &o% are %sing S a+ life ins%rance polic& */IC+ b+ Reliance life ins%rance c+Ba'a' ins%rance d+8F0C ins%rance e+Indiafirst life ins%rance Z4 .0rom ho$ long &o% are %sing life ins%rance of that compan&S

&ears 13 E !.-

4 &ears

1! &ears 1-

3bove 1!&ears . 1 .-

total 6

34.4

3!.6

Interpretation Ma=im%m people are %sing ins%rance from over last 4 &ears *34E+, 13 E are %sing ins%rance from &ears , 31E are %sing from 1! &ears.

Z4. .$hat is time interval of &o%r premi%m pa&ment S

monthl& " 11.6

>%aterl& 6

ann%all& 4 .6.6

8alf &earl& 1 1.6

total 6!

Interpretation .6E people pa& their premi%m pa&ment b& ann%all& according to their ann%al income,11.6E pa& monthl& and onl& E pa& their premi%m half &earl& and no one pa& >%aterl& accoording to s%rve& report.

Z6 .3re &o% a$are abo%t the ins%rance of polic& of bank of barodaS

&es ! E 4!

Do 4! 6!

total 6!

Interpretation 1nl& 33E people kno$ abo%t Indiafirst $hich is the 'oint vent%re of Bank of Baroda ; legal ; general ; 3ndhra bank and 6"E people donKt kno$ abo%t the Indiafirst ins%rannce d%e to lack of a$areness , lack of marketing strateg& and the most important thing is Indiafirst in started in !!- in Dovember so, it is ver& ne$ compan& in compare to /IC.Reliance,Ba'a' 3llian2 etc it takes time to capt%re the market.

Z". If &es then $hich ins%rance polic& &o% are %sing S

Interpretation Man& people have opt general ins%rance like DIC/ and man& go for Indiafirst ins%rance. a+ Indiafirt life ins%rance b+DIC/ Z. .Ahich feat%res do &o% like or dislike of that prod%ctS a+ saving plan b+f%t%re plan c+ed%cation plan d+ term plan *$hich recentl& start %nder m& training period+

Z-. 8ave &o% taken ins%rance for &o%r children S &es 4" "..3 Do 13 1.6 total 6!

percentage

Interpretation

".E people have taken ins%rance for their children for betterment of their f%t%re and E people have not taken ins%rance for their children according to their income ,people $ho have age above 34 have taken ins%rance for their children.

Z1! . Fo &o% face an& problem at the time of rene$al of &o%r acco%nt in bank of baroda S &es 1! 16.6 Do 4! .3.3 total 6!

Interpretation 1nl& 16.6 E face problem at the time of rene$al beca%se service provide b& the bank of baroda is ver& good .3E are satisf& and happ&.

Z11. Ah& life ins%rance so important for &o%S a+ sec%rit& b+rebate on ta= c+life cover d+children ed%cation go ahead e+ financial s%pport to famil&

Z1 . Ahat are the problem do &o% face in bank of baroda *in terms of ins%rance+ if an& please specif& S 3ns6 lack of a$areness b+lack of marketing strateg& c+ less door to door service d+less advertisement e+ no one there to tell abo%t information abo%t the Indiafirt ins%rance. Z13 . Fo &o% $ant to give an& s%ggestion to bank of baroda in respect of service provide in is%ranceS

Interpretation More aggressive marketing strateg& is re>%ired beaca%se ver& fe$ people kno$ abo%t the Indiafirst life ins%rance even the c%stomer $ho has acco%nt in Bank of Baroda from ! &ears the& even donKt ko$ abo%t the Indiafirst.Foor to door service sho%ld be there , more advertisement and more a$areness is re>%ired .

Concl%sions

CONC(U'ION' #oda& organi2ation are kno$ledge based and their s%ccess and s%rvival depend on creativit& , innovation , discover& and inventiveness.3n effective reaction to these demands lead to innovative change in the organisation in order to to ens%re their e=istence . #he rate of changes is accelerating rapidl& , as a ne$ kno$ledge idea generation and global diff%sion are increasing . Creativit& and innovation have a bigger role in this change process for s%rvival. #oda& the life ins%rance is gro$ing at C3)R of 34E and private pla&er are gro$ing at a C3)R of 1 4E . #here are total 3 ins%rance pla&ers in the market selling ins%rance polic&. In the developed co%ntries life ins%rance contrib%tes .E to )F< , $hile in India it is less than E of )F<.3s &o% see there is h%ge potential in the market to cover lives thro%gh life ins%rance . IndiaKs pop%lation is more than one crore Ins%red pop%lation B 6."3E 3verage ins%rance life coverB less than Rs 1!,!!! In the era of globalisation ,IDFI30IR(# life ins%rance need aggressive marketing strateg& beca%se there is alread& ma'or pla&er e=ist in market like /IC ,R:/I3DC: , B3,3, 3//I3D7 etc,$hich are ver& old also .IDFI30IR(# is started recentl& in Dov !!- 'oint vent%re of bank of baroda ; legal ; general ; andhra bank .It need more innovative idea for marketing. B& the help of s%rve& I collected informaton that ver& fe$ kno$ abo%t IDFI30IR(# ins%rance polic& d%e to lack of a$areness. #hose $ho have !63! &ears old acco%nt holder in bank of baroda the& even donKt kno$ abo%t the ins%rance polic& .<eople $ho above 34 &ears age have done ins%rance of different compan&.-4E kno$ abo%t the ins%rance basicall& people kno$ more abo%t /IC beca%se it is ver& old and tr%st$orth& compan&.3s $e kno$ that ins%rance give 0amil& sec%rit& (&stematic savings #a= benefits Investment

I $o%ld like to concl%de that third part& prod%ct of B3D9 10 B3R1F3 reall& needs aggressive marketing strateg& , more advertisement.more a$areness among people atleast those $ho have acco%nt in bank of baroda beca%se alread& the big compan& is r%nning in market like /IC .Fistrib%te more and more pamphlets etc.IDFI30IR(# have ver& good scheme ,it has 6 plan $hich reall& ver& good the term plan started in m& training period .)ood things abo%t this ins%rance is it is associated $ith brand name B3D9 10 B3R1F3 $hich is 1!! &ears old bank people have faith on that. Do need of commision as /IC agent take , no need to $orr& abo%t the ret%rn of mone&.5(< of this ins%rance is that it charge applicable %nder this polic&

Gear 1 63 461! 11 on$ards #op %p

charge !E "E 3E 1E E

Ahile other take 4!E. If Bank of Baroda %se good strateg& for marketing of Indiafirst ver& soon it $ill capt%re $hole market like /IC.It is started $ith 1 !!!P6 IDFI30IR(# </3D :F5C3#I1D </3D (3OID)( </3D 05#5R: </3D #:RM </3D /I0: </3D 3DD5DI#G </3D

3ccording to their income level and interest level people choose different plan M3ID 3IM I( #1 (:C5R: G15R /I0: .

Findin

FINDIN,': Most of the people of Felhi kno$ abo%t the ins%rance polic& provide b& the bank .Man& people have done /IC ,Reliance,Ba'a'a 3llian2 ins%rance. 3ccording to their income people have choose ins%rance polic& . <eople opt for ins%rance d%e to B It make famil& sec%re Risk cover #a= benefits 0inanacial s%pport Investment

3ccording to s%rve& I collect 6! c%stomer $here I find that onl& !E kno$ abo%t third part& and 4!E donKt kno$ abo%t abo%t the IDFI30IR(# /I0: ID(5R3DC:.

Ma=im%m people have opt ins%rance polic& over 1! &ears of other compan&.

3ge of above 34 &ears the& have opt ins%rance polic& for their children for her f%t%re

 I fo%nd that ver& fe$ people have taken IDFI30IR(# life ins%rance polic& d%e to less marketing , less advertisement .

3nother reason is that IDFI30IR(# is ver& ne$ if $e compare from other ins%rance compan& like /IC ,R:/I3DC:.

<lan is good b%t marketing is not appropriate.Do special emplo&ee is appoint $ho take care of IDFI30IR(# 1R DIC/ in different branches of 3//383B3F.

1ne thing I $o%ld like to add that service provide b& B3D9 10 B3R1F3 is ver& good it observe b& s%rve&.

Recentl& B3R1F3 D:Q# is la%nch d%e to $hich life become eas& for c%stomer of B3D9 10 B3R1F3.

'U,,%'TION

'U,,%'TION:

#he first and the foremost s%ggestion $hich I $o%ld like to give is that there sho%ld more a$areness of ins%rance polic& of B3D9 10 B3R1F3 , proper marketing strateg& sho%ld be plan.

Foor to door service.

 More advertisement b& distrib%ting pamphlets, hodings,commercial add on #.O like B3R1F3 D:Q#.

More a$areness

<roper marketing sho%ld be done for ins%rance polic& of Bank of Baroda.

0irst Bank of Baroda have to convince the old c%stomer of acco%nt holder of Bank. #hen &o% have to catch others.

#he& sho%ld identif& the threats and challenges prevailing in the market and according to that the& sho%ld form strateg& to be more %ni>%e.

3s $e all kno$ that B3D9 10 B3R1F3 is third position among all bank ,the& have more c%stomer as compare to other bank the& can easil& attract more people for ins%rance ,b& %sing the good$ill of bank.

(ervice of B3D9 10 B3R1F3 is ver& good this feat%re can also %se for convincing the people.

It does not take an& commission to c%stomer for polic& like /IC take, this point also %se for convincing the people.

 IDFI30IR(# ins%rance for different people .

/ike savings plan is good for b%siness (ervice people go for f%t%re plan , the& can also take ed%cation plan for their chidren. (%ch thing $e can sa& to c%stomer for ins%rance.

BIB(IO,R#P&>

BIB(IO,R#P&>

BOO?' "isra "/N452++374 F$rinciples and $ractices of InsuranceK. chand and Co/ ,upta/ C/B// F%uman Resource &anagement' 'ultan chand < 'ons Rao4= ' P4 (%uman Resource &anagement Te)t and *ases'

6%B 'IT%'

 httpBPP$$$.bankofbaroda.in

httpBPP$$$.irda.com httpBPP$$$.ins%rancep%blic.com

$$$.infos&stems.com

#nne;ure

#NN%JUR% Felhi Instit%te of R%ral Fevelopment Z5:(#I1DD3IR: 1D (t%d& 3bo%t Ins%rance (ector in Bank of Baroda D3M:6\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ):DF:R6\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ <R100:((I1D6\\\\\\\\\\\\\\\\\\\\\\\\\\\ F:(I)D3#I1D6\\\\\\\\\\\\\\\\\\\\\\\\\\\ 3):6\\\\\\\\\\\\\\\\\\\\\

*/Do kno9 a!out the insurance D a+ &es b+ no

2/#re you a9are a!out the insurance policy pro8ide !y the !ankD a+ &es b+ no

H/If yes then 9hich life insurance or eneral insurance you are usin D

N/From ho9 lon you are usin life insurance of that companyD a+ &ears b+4&ears c+1! &ears d+above 1! &ears

0/9hat is time inter8al of your premium payment D a+monthl& b+>%arterl& c+ann%all& d+half &earl& L/#re you a9are a!out the insurance of policy of !ank of !arodaD a+ &es b+no

./If yes then 9hich insurance policy you are usin D a+ Indiafirst line ins%rance b+ DIC/ *general ins%rance+

3/6hich features do you like or dislike of that productD \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\\\\\\\

P/ &a8e you taken insurance for your children and familyD a+ &es b+no

*+/ /Do you face any pro!lem at the time of rene9al of your account in !ank of !aroda D a+&es b+ no

**/6hy life insurance is so important for youD

*2/6hat are the pro!lem do you face in !ank of !aroda 5in terms of insurance7 if any please specifyD

*H/Do you 9ant to a8e any su pro8ide in insuranceD

estion to !ank of !aroda in respect of ser8ice