Bank of Baroda

Bank of Baroda offers different type of accounts to meet your financial goals and secure your future. Choose from our wide range of
deposit products that are specifically designed to keep your unique requirements in mind.

Saving Account
•Asa customer, you can enjoy the many features of a savings account free of cost or for minimum charges. With a savings
account, you will receive a passbook and checkbook.
•You may also apply for a debit card, mobile banking, and net banking on your savings account, though charges may apply.
With net banking, you can access your bank statements and make payments directly from your savings account. You can use
the debit card linked to your savings account to withdraw cash from ATMs and to pay merchants.
•Bank of Baroda pays interest on all savings accounts, the interest of which is transferred to your savings account every
quarter, though it is calculated daily.
Current Account
•Internet Banking Facility available.
•Mobile Banking (for Individual/ Proprietorship accounts only).
•Missed Call Facility available.
•Value added SMS Alert Facility
•Debit/ATM Card: Baroda Vyapaar Card
Baroda Salary Classic Account
• Overdraft Facility
• Maximum – Rs 50000
• Discounts on locker rentals, demat AMC, debit card issuance and renewal fee and issuance fee of prepaid
cards.
• Free remittance facility on RTGS/NEFT/IMPS.
• Waiver on processing charges on retail loans.
• Discounts on the issuance of DD/BC
• Free lifetime Easy variant of Credit card subject to eligibility criterion of minimum income of 25000 /month and
signing of auto debit mandate for debit of minimum due amount on card from salary account.
• Complementary Air Accidental Insurance of 15 lac and other accidental insurance covers of 5 lacs (Insurance
linked to credit card)
• Debit Card Variant & Annual Fee
• Free Baroda Rupay Classic Debit Card for first year, thereafter chargeable @ Rs 150+ applicable taxes per year
• Daily Cash Withdrawal limit Rs 25000 and Online Purchase limit is Rs 50000
• Inbuilt Accidental Insurance of Rs 1 lac
• Attractive offers linked to Debit card cards
• Relationship Managers available on phone
 Andhra Bank
Andhra Bank Financial Services Limited is a 100% subsidiary of the Bank incorporated in the year 1991 for
undertaking hire purchase and leasing activities. ABFSL commenced its business in July 1991. However, the
Company had stopped its activities in August 1992 and being maintained as Non-Banking, Non-Financial
Institution (NBNFI).

 Andhra Bank was a medium-sized public sector bank (PSB) of India, with a network of 2885
branches, 4 extension counters, 38 satellite offices and 3798 automated teller machines
 (ATMs) as of 31 March 2019.[2] During 2011–12, the bank entered the states of Tripura and 
Himachal Pradesh. It operated in 25 states and three union territories. It had its headquarters
in Hyderabad, Telangana, India. Along with Corporation Bank, Andhra Bank was merged with 
Union Bank of India in April 2020.
 The government of India owned 90.85% of its share capital as on 31 March 2019. The state
owned Life Insurance Corporation held 7.80% of the shares. The bank had done a total
business of ₹3,106 billion (US$39 billion) and has earned a net profit of ₹5.40
billion (US$68 million) for the financial year 2015–16.
 Andhra Bank introduced Internet Banking Facility (AB INFI-net) to all customers of cluster linked
branches. Rail Ticket Booking Facility is made available to all debit card holders as well as to
internet banking customers through IRCTC Website through a separate gateway. Corporate Website
is available in English, Hindi and Telugu Languages communicating Bank's image and information.
Bank has been given 'BEST BANK AWARD' a banking technology award by IDRBT, Hyderabad for
extensive use of IT in Semi Urban and Rural Areas on 2 September 2006.[9] IBA Jointly with TFCI
has conferred the Joint Runner-up Award to the Bank in the Best Payments initiative category[10] in
recognition of outstanding achievement of the Bank in promoting ATM Channel.
International Expansion
 Andhra Bank opened a representative office in Dubai in May 2006 and another at Jersey City, New
Jersey, in June 2009.
 In 2010 Malaysia awarded a commercial banking license to a locally incorporated bank to be jointly
owned by Bank of Baroda, Indian Overseas Bank and Andhra Bank. The new bank, India
International Bank (Malaysia), is based in Kuala Lumpur. Andhra Bank will hold a 25% stake in the
joint-venture. Bank of Baroda will own 40% and IOB the remaining 35%.
 Andhra Bank entered MoU with Bank of Baroda and Legal & General Group of UK to form a joint
venture life insurance company IndiaFirst Life Insurance Company. The shareholders' agreement
has already been signed and necessary formalities are being completed for setting up of the
company. The JV Company is already incorporated in June'08 and is in the process of filing for
approvals from IRDA etc. IndiaFirst has commenced operations.
 Union Bank
About Union Bank of India
 Union Bank of India is one of the leading public sector banks of the country. The Bank is a listed entity and the
Government of India holds 83.50 percent in Bank’s total share capital. The Bank, having its headquarters at Mumbai
(India), was registered on November 11, 1919 as a limited company. Recently, Andhra Bank and Corporation Bank were
amalgamated into Union Bank of India with effect from 01.04.2020. Today, it has a network of 8850+ domestic
branches, 11200+ ATMs, 8216 BC Points serving over 120 million customers with 75000+ employees .The Bank’s total
business as of 31st March 2022 stood at Rs.17,48,800 crore, comprising Rs. 10,32,392 crore of deposits and
Rs. 7,16,408 crore of advances as of 31st March 2022. The Bank also has 3 branches overseas at Hong Kong, Dubai
International Financial Centre (UAE) & Sydney (Australia); 1 representative office in Abu Dhabi (UAE); 1 banking
subsidiary at London (UK); 1 banking joint venture in Malaysia; 4 para-banking subsidiaries (domestic); 3 joint
ventures(including 2 in life insurance business) and 1 associate - Chaitanya Godavari Gramin Bank. Union Bank of
India is the first large public sector bank in the country to have implemented 100% core banking solution. The Bank has
received several awards and recognition for its prowess in technology, digital banking, financial inclusion, MSME and
development of human resources.

Capital Structure
The Bank has authorized share capital of Rs.10,000 crore. As on 31st March 2022, the Bank has issued, subscribed and paid-
up equity capital of Rs. 6834.75 Crores, constituting 6,83,47,47,466 equity shares of Rs.10/- each. The Bank’s shares are
listed on the National Stock Exchange of India Limited and the BSE Limited.
Unique Features

The First safe deposit vault was formally opened on 22 April 1939.
 At the time of Independence in 1947 .Union Bank of India had 4 Branches.
 In 1964, Bank’s 100th Branch opened at Irinjalakuda in Kerala. 3 Pvt sector Banks Perunbavoor Bank Ltd, Catholic Union Bank Ltd, Nadar Mercantile Bank
Ltd were taken over.
 In 1969 when Bank was nationalized Mr F.K.F Nariman became its first custodian.
 In 1974 Bank was assigned 8 Lead districts – 4 in UP, 2 each in Kerala and MP for assisting rural development.
 In 1975 Belgaum Bank Limited, a private sector Bank was taken over by Union Bank of India adding as many as 40 Branches.
 In 1978 Bank became the first Nationalised Bank to publish Annual Report in Hindi.
 In 1982 Bank received Government’s National Award from President of India for outstanding export performance during 1979-80.
 In the post reforms era Bank doubled itself in business from 1993 to 1996.
 In 1999 Sikkim Bank Ltd with 8 Branches merged with the Bank.
 In 2002 Public Issue of 18 Crore shares oversubscribed by 5.22 times. Shares listed on BSE and NSE.
 In 2003 Bank was among the 1st Public Sector Banks to initiate Anytime and Anywhere Banking along with Telebanking.
 In 2004 the Bank was among the 7 new entrants to Forbes - 2000 list of world’s biggest and most powerful companies.
 In 2007 Bank opened record number of 56 new branches across the country in a single Day. Bank opened its first Bio-metric ATM. Bank opened
India’shighest altitude ATM at 14300 ft in Serethang, Nathulla, Sikkim.
 In 2008 Bank became the 1st Large nationalized Bank to achieve 100 % CBS networking. Bank unveils new logo and launches re-branding initiative. U-
Mobile Launched –Becomes 1st Public sector Bank to launch Mobile Banking Facility in 2008.
 In 2009 Bank sponsored Rewa Siddhi Gramin Bank becomes the first RRB in the country to achieve 100 % CBS connectivity.
 In 2012 Bank inaugurates First Talking ATM specially made for the benefit of visually challenged.
 In 2013 Bank opened record 111 branches on its foundation day 11.11.2013.
 In 2014 Bank opened 96 branches on its foundation day i.e 11.11.2014.
 In 2015 Bank launched its UK subsidiary in London.
 Vijaya Bank
 Vijaya Bank was a PSU bank which was merged with Bank of Baroda in April 2020 with its head office in 
Bangalore, Karnataka, India. It was one of the nationalised banks in India. The bank offered a wide range of
financial products and services to customers through its various delivery channels. The bank had a network of
2031 branches (as of March 2017) throughout the country and over 4000 customer touch points including
2001 ATMs.
 The Bank has been actively pursuing the agenda of financial inclusion. The bank's initiatives in this direction
aim at financial empowerment and reaching banking services to the rural masses. The Bank has been opening
Basic Savings Bank Accounts under Pradhan Mantri Jan Dhan Yojana and providing all the account holders
with Rupay debit cards. The bank participates in promoting social security schemes such as 
Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana.
The bank is also implementing the modified Direct Benefit Transfer (DBT) programme of the Government of
India.
 The bank's total business is over ₹2,29,000 crore comprising deposits of ₹1,33,012 crore and advances
of ₹96,821 crore as at 31 March 2017. Basically being a retail bank, its topline growth owes quite a lot to the
retail segments. Retail advances of the bank constitute 30% of the gross credit.[15]
 As on 31 March 2017, the bank had a wide branch network of 2031 branches. The bank has 2001 ATMs as on
31 March 2017. Vijaya Bank provides access to over 2.21 lakh ATMs connected under National Financial
Switch across the country.
Amalgamation
 On 17 September 2018, the 
Finance Ministry of the Government of India proposed to
amalgamate 3 state run banks, viz. Vijaya Bank, Bank of Baroda
 and Dena Bank into a single bank as an effort to consolidate the
country's banking system. The amalgamated bank was set to
become the third biggest bank in India with a total business of
more than ₹1,482,000,000,000 (equivalent to ₹1.7 trillion or
US$21 billion in 2020). The boards of the three banks are to meet
to consider the proposal.The agenda behind the amalgamation of
the banks was to lower Non-performing assets.
 The Gross NPA OF the Bank of Baroda, Vijaya Bank and Dena
Bank is 12.4%, 6.9% and 22% respectively. The merger was
approved by the Union Cabinet and the boards of the banks on 2
January 2019. Under the terms of the merger, Dena Bank and
Vijaya Bank shareholders received 110 and 402 equity shares of
the Bank of Baroda, respectively, of face value ₹2 for every 1,000
shares they held. The merger is effective from 1 April 2019. Vijaya
Bank that has merged with Bank of Baroda has built a museum
that dedicated to its history.
 Dena Bank
 Dena Bank was a government-owned bank that in 2019 merged with Bank of Baroda. It was headquartered
in Mumbai and had 1,874 branches. The bank was founded in 1938 and was nationalized in 1969 by the
government of India.

Amalgamation
On 17 September 2018, the Finance Ministry of the government of India proposed to merge three state run banks
— Vijaya Bank, Bank of Baroda, and Dena Bank — into a single bank. The amalgamated bank was estimated to
become the third biggest bank in India with a total business of more than ₹1,482,000,000,000 (equivalent
to ₹1.7 trillion or US$21 billion in 2020). Some of the main stated reasons for the merger were to help the weaker
banks improve their operational efficiency, increase their customer base and market reach, and to help them raise
capital without depending on government funds at all.  Earlier that year, Dena Bank had been brought under the 
Prompt Corrective Action (PCA) framework due to its high non-performing loans. At the time of the proposal to
merge, the gross NPA ratios of Bank of Baroda, Vijaya Bank and Dena Bank were 12.4%, 6.9% and 22%
respectively, and Dena Bank was the weakest among the three in terms of its total business size.
The Union Cabinet and the boards of the banks approved the merger on 2 January 2019. Under the terms of the
amalgamation, Dena Bank and Vijaya Bank shareholders received 110 and 402 equity shares of the Bank of
Baroda, respectively, of face value ₹2 for every 1,000 shares they held. The amalgamation became effective from
1 April 2019. Bank of Baroda announced that it would auction the Dena Corporate Centre (Dena Bank's head
office) at Bandra Kurla Complex, Mumbai in September 2019.
 IndiaFirst Life Insurance Company
 At IndiaFirst Life, we come to work every day with the goal of making insurance easily available to
every Indian household. We’ve come a long way from that momentous day in November 2009,
when as the 23rd private sector entrant in the Life Insurance Industry, we sold our first policy.
Today, as on 31 March 2022, our Individual NB APE stands at INR 1,345 Crores and IndiaFirst
Life ranks* 11th. We ended FY22 on a strong footing with INR 5,187 Crores of total premiums
collected and AUM of INR 18,932 Crores. The company continues to be one of the fastest
growing private insurance players in the industry with a 5-year-CAGR of 27% (individual new
business APE) which is approximately 2.6 times that of the overall life insurance industry in India.
 We’ve had Bank of Baroda, Andhra Bank (now, Union Bank of India) and Legal & General as our
founding partners. After journeying with us through our years of growth, Legal & General sold its
stake in February 2019 to Carmel Point Investments India Private Limited, a body incorporated
under the laws of Mauritius and owned by private equity funds managed by Warburg Pincus LLC,
New York, United States. This is the first deal wherein a private equity fund has taken an interest
in a life insurance company. In April 2020, Andhra Bank was amalgamated into The Union Bank
of India. Our shareholding pattern as of today stands at: Bank of Baroda – 65%, Union Bank of
India – 9% and Carmel Point Investments India Private Limited – 26%.