BOB offers for women customers Mahila Shakti Savings Account or BOB Women Power Current Account
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| Bank of Baroda |
On the occasion of International Women's Day, the public sector Bank of Baroda (BOB) has announced offers for women customers.
These offers apply to account holders who open a BOB Mahila Shakti Savings Account or BOB Women Power Current Account by June 30 and avail loan till December 31. An interest subsidy of up to 25 basis points (0.25%) will be given on retail loans offered to women who open these accounts. BOB has announced an interest concession of 0.25% on two-wheeler loans, 0.15% on education loans, and 0.1% on car, home, and mortgage loans.
Processing fees on retail loans (including personal loans) have been completely waived. BOB MD and CEO Devdatta Chand disclosed that a 50% discount will be given on annual safe deposit locker charges.
1/17. History:
The Bank of Baroda was founded by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III, on July 20, 1908, in the princely state of Baroda (now Vadodara), Gujarat, India.
2/17. Nationalization:
In 1969, the Government of India nationalized the Bank of Baroda along with 13 other major banks, bringing them under public ownership to ensure better control and regulation of the banking sector.
3/17. Global Presence:
The Bank of Baroda has an extensive international presence with branches and subsidiaries in over 25 countries, including the United States, United Kingdom, UAE, Singapore, Hong Kong, and many others. It operates through a network of over 9,000 branches and offices worldwide.
4/17. Services:
The bank offers a wide range of banking and financial services to its customers, including retail banking, corporate banking, treasury operations, wealth management, and various types of loans and advances.
5/17. Technology:
The Bank of Baroda has been actively embracing technology to enhance its services. It offers internet banking, mobile banking, and other digital services to its customers. It has also implemented various measures to improve cybersecurity and protect customer data.
6/17. Financial Performance:
Like other banks, Bank of Baroda's financial performance depends on various factors including economic conditions, regulatory environment, and competition. It regularly publishes its financial reports and statements to keep shareholders and stakeholders informed about its performance.
7/17. Social Initiatives:
The bank has been involved in various social initiatives and corporate social responsibility (CSR) activities aimed at community development, education, healthcare, and environmental sustainability.
8/17. Leadership:
The Bank of Baroda is led by a board of directors and managed by a team of experienced executives. The board sets the strategic direction of the bank while the management team oversees day-to-day operations.
9/17. Products and Services:
In addition to traditional banking services such as savings accounts, current accounts, and fixed deposits, Bank of Baroda offers a range of specialized products and services including:
10/17. Loans:
Home loans, personal loans, car loans, education loans, and loans against property.
11/17. Investment and Wealth Management:
Mutual funds, insurance products, portfolio management services, and wealth management solutions.
12/17. Corporate Banking:
Working capital finance, term loans, trade finance, cash management services, and corporate advisory services.
13/17. International Banking:
Foreign currency services, trade finance, remittances, and international business advisory.
14/17. Financial Inclusion:
The Bank of Baroda is committed to financial inclusion and has launched various initiatives to provide banking services to underserved and rural areas. These initiatives include opening branches in rural areas, offering no-frills accounts, and leveraging technology for doorstep banking services.
15/17. Digital Transformation:
Like many other banks, Bank of Baroda is undergoing a digital transformation to enhance customer experience and streamline operations. This includes the development of mobile banking apps, internet banking platforms, and the adoption of emerging technologies such as artificial intelligence and blockchain.
16/17. Partnerships and Collaborations:
Bank of Baroda collaborates with other financial institutions, government agencies, and technology companies to expand its reach and offer innovative solutions to its customers. This includes partnerships for co-branded credit cards, cross-border remittance services, and digital payment solutions.
17/17. Regulatory Compliance:
As a regulated financial institution, the Bank of Baroda adheres to the regulatory guidelines set by the Reserve Bank of India (RBI) and other relevant authorities. It regularly undergoes audits and assessments to ensure compliance with banking regulations and industry standards.