Bank of Baroda Alternative

8/21/2019 Bank of Baroda Alternative

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A

Summer Training Report

On

Alternate Delivery Channel in Banking

FOR THE PARTIAL FULFILMENT OF THE DEGREE

MASTER OF BUSINESS ADMINISTRATION

(Two ear! Fu"" Time Management #our!e$


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Preface

T%e un&er"'ing aim o t%e Summer Training Pro)e*t Report a! an integra" part o

m+a programme i! to pro,i&e t%e !tu&ent wit% pra*ti*a" a!pe*t! o t%e

organi!ationa" wor- en,ironment.

Su*% t'pe o pre!entation %e"p! a !tu&ent to uti"i/e 0 rea"i/e a+out t%e

*ongruen*ie! +etween t%e t%eoreti*a" "earning in t%e premi!e! o *o""ege 0 a*tua"

o""owe& +' t%e organi!ation. It gi,e! t%e -now"e&ge o app"i*ation a!pe*t o t%e

t%eorie! "earnt in t%e *"a!!room.

T%e !eminar pro)e*t in 1a"ternate &e"i,er' *%anne" in +an-ing2 i! a *omp"ete

e3perien*e in it!e"4 w%i*% pro,i&e me wit% t%e un&er!tan&ing. T%i! %a! +e*ome a!

in!pira+"e pro)e*t in m' -now"e&ge o management +eing "earne& in m+a

programme.


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A*-now"e&gement

we are extremely grateful to for providing us the honour of *arr'ing

out t%e pro)e*t4 w%i*% %e"pe& u! to put our "earning5! into e3perien*e.

6it%out %i! gui&an*e we wou"& not %a,e +een a+"e to pro*ee& wit% our

pro)e*t in t%e rig%t &ire*tion .we would like to express our sincere

regards to the staff of maiet !aipur whose help and guidance ena"led

us to know a"out Alternate Delivery Channel in Banking# $e would

also like to thank our family friends and relatives who have helped us

and supported us in all possi"le ways# A pro!ect report needs co%

operation guidance and experience of many more people other than

whose name appears on the cover we would like to thank each and

everyone who have helped us in our endeavour#


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C&'()'(

!eria" no. Parti*u"ar! page

*# #ompan' Proi"e +

,# Ser,i*e Hi!tor' o Ban- o Baro&a -.# A"ternate De"i,er' #%anne" **

/# De+it #ar&! *.

0# Internet Ban-ing Baro&a #onne*t ,1

+# Mo+i"e Ban-ing Baro&a M7#onne*t ,/

-# E7Gatewa' ,-

2# ATM ./

3# Depo!itor' Ser,i*e! .3

*1# NEFT /,

**# RTGS /3*,# Prepai& #ar&! 0+

*.# Re!ear*% Met%o&o"og' 02

*/# O+)e*ti,e o T%e Stu&' 03

*0# Fa*t! an& Fin&ing! +1

*+# #on*"u!ion +,

*-# Bi+"iograp%' +.


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C&4PA'5 P6&789)

Ban- o +aro&a (+o+$ wa! oun&e& +' ma%ara)a !a'a)irao gae-wa& in )u"' 89:;. It

!tarte& wit% a pai& up *apita" o r! 8: "a-%. Ban- o +aro&a i! a pioneer in ,ariou!

*u!tomer *entri* initiati,e! in t%e in&ian +an-ing !e*tor. Ban- i! among!t ir!t in t%e

in&u!tr' to *omp"ete an a""7in*"u!i,e re+ran&ing e3er*i!e w%erein ,ariou! no,e"

*u!tomer *entri* initiati,e! were un&erta-en a"ong wit% t%e *%ange o "ogo. T%e

initiati,e! in*"u&e !etting up o !pe*ia"i/e& nri +ran*%e!4 gen7ne3t +ran*%e! an&

retai" "oan a*torie!< !me "oan a*torie! wit% an a!!em+"' "ine approa*% o

pro*e!!ing "oan! or !pee&' &i!+ur!a" o "oan!.

E,er !in*e it! re+ran&ing in =::>4 +an- %a! *on!i!tent"' promote& it! ma)or

!trengt%! ,i/. Large internationa" pre!en*e? te*%no"ogi*a" a&,an*ement an&

!uperior *u!tomer !er,i*e et*. Ban- %a& intro&u*e& t%e !u+ +ran& +aro&a ne3t7

!tate o t%e art7!traig%t rom t%e %eart to !%ow*a!e %ow it %a! uti"i/e& te*%no"og' to

nurture "ong term re"ation!%ip! or !uperior *u!tomer e3perien*e. T%e !u+ +ran&

%a! +een reinor*e& +' a"ternate &e"i,er' *%anne"! !u*% a! internet +an-ing4 atm!4

mo+i"e +an-ing et* an& ro+u!t &e"i,er' outit! "i-e retai" "oan a*torie!4 !me "oan

a*torie!4 *it' !a"e! oi*e et*. Ban-@C! *on!tant en&ea,or to !trengt%en it!

+ran*%


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E!ta+"i!%e& in 89:;4 +an- o Baro&a i! *a""e& 1in&ia5! internationa" +an-42 &ue to it!

e,o"ution into a g"o+a" entit' wit% more t%an =4>: +ran*%e! !prea& a*ro!! =8

#ountrie!. Hea&Juartere& in mum+ai4 t%e +an- !er,i*e! => mi""ion *u!tomer!

aroun& t%e g"o+e4 in !u*% &i,er!e "o*ation! a! %ong -ong4 +e"gium4 t%e +a%ama!4

t%e unite& -ing&om an& -en'a.

In =::4 t%e +an- i!!ue& a reJue!t or propo!a" in !ear*% o a *ompan' t%at *ou"&

&e"i,er a *ompre%en!i,e atm management !o"ution4 %e"p re&u*e &epen&en*' on

Mu"tip"e ,en&or! an& po!ition it!e" or entran*e into a"ternate &e"i,er' *%anne"!. In

re!pon!e4 &ie+o"& *reate& a *u!tomi/e& !o"ution t%at a&&re!!e& +an- o +aro&a5!

UniJue nee&!4 in*"u&ing remote monitoring an& trou+"e!%ooting4 *ontent

management an& &e"i,er'4 *on!uma+"e! optimi/ation4 *a!% optimi/ation4 reporting

an& !e*urit'. Die+o"&5! propo!a" wa! !e"e*te& to !er,e a! t%e +an-5! partner4

pro,i&ing =


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*u!tomer!.2 Sin*e =::4 t%e +an- %a! a&&e& new un*tion! t%at +ring t%em *"o!er

to t%eir goa" o in*rea!e& +ran& an& ,i!i+i"it'.

A**or&ing to ,ig4 1we %a,e +een !u**e!!u" at &'nami*a""' up"oa&ing new !*reen

a&!4 *ontent4 et*. Onto t%e atm! a! an& w%en reJuire&. T%i! en%an*e! t%e "oo- an&

Fee" o t%e atm an& we are a+"e to *ommuni*ate wit% *u!tomer! at t%e atm in near

rea"7time.2 T%i! a+i"it'4 a,ai"a+"e t%roug% &ie+o"&5! !er,er7+a!e&

S'!tem or remote management o atm *ontent4 in*"u&e! tran!mi!!ion o i*on!4

!*reen!4 *oupon i"e! an& mpeg ,i&eo! to t%e +an-5! atm!. Dep"o'er! *an a"!o

Group atm! an& !et7up &e"i,er' an& a*ti,ation !*%e&u"e! or u"" *ampaign!4 w%i*%

re&u*e! +an- o +aro&a5! re"ian*e on 1!nea-ernet2%a,ing to !en& out emp"o'ee!

to manua""' up"oa& *ontent. In t%e uture4 +an- o +aro&a p"an! to e3pan& on t%i!

*apa+i"it' to pro,i&e !ome e3tent o *rm a*ti,itie! at

T%e atm. 6it% *ampaign oi*e4 &ie+o"& i! po!itione& to a!!i!t wit% t%i!

imp"ementation a! we"". #ampaign oi*e wi"" pro,i&e +an- o +aro&a wit% t%e a+i"it'

to *reate an& up"oa& in&i,i&ua"4 per!ona"i/e& mar-eting *ampaign! aime& &ire*t"'

at it! atm *u!tomer. #ontent *an +e +a!e& on &emograp%i*!4 e3i!ting a**ount

re"ation!%ip! or inan*ia" tran!a*tion %i!tor'. A**or&ing to ,ig4 t%e partner!%ip %a!pro&u*e& +eneit! ar +e'on& )u!t t%e atm *%anne". 1wor-ing wit%

Die+o"&4 we5,e !een impro,e& !er,i*e rom our own emp"o'ee!. Sin*e &ie+o"&

!pe*ia"i!t! are %an&"ing t%e atm *%anne"4 we *an *on*entrate on ot%er +an-ing

re"ate& a*ti,itie!.2

1t%e +an- en)o'! t%e *on,enien*e o a !ing"e point o *onta*t42 ,ig !ai&. 1&ie+o"&5!

re!pon!i+"e or a"" t%e *omponent! t%at &ri,e t%e a,ai"a+i"it' o our atm

Networ-.2

Bu!ine!!

Retai" +an-ing It oer! pro&u*t! an& !er,i*e! !u*% a! &epo!it!4 "oan!4 *re&it an&

&e+it *ar&!4 &emat !er,i*e!4 remittan*e!4 E#S (e"e*troni* *"earing !er,i*e!$4

go,ernment +u!ine!!4 et*.


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Rura" an& agri +an-ing It oer! pro&u*t! an& !er,i*e! !u*% a! &epo!it!4 agri*u"tura"

"oan!4 "o*-er! !er,i*e!4 et* to rura" *u!tomer! an& agri*u"tura" !e*tor.

#orporate +an-ing It pro,i&e! pro)e*t inan*e4 i"m inan*e4 oreign *urren*' "oan!4

wor-ing *apita" inan*e4 trea!ur' pro&u*t!4 et* to t%e *orporate !e*tor.

SME BoB a"!o oer! pro&u*t! an& !er,i*e! to SME !e*tor.

6ea"t% Management It pro,i&e! wea"t% management !er,i*e! to *ompanie! in

area! o in!uran*e an& mutua" un&!. In in!uran*e it oer! !er,i*e! to HDF# an&

Nationa" In!uran*e #ompan'. In mutua" un&! it pro,i&e! !er,i*e! to UTI4 Bir"a Sun

Lie4 Re"ian*e Mutua" Fun&4 Sun&aram BNP Pari+a!4 Fran-"in Temp"eton

In,e!tment! an& Baro&a Pioneer A!!et Management #ompan'.

Ban-! !u+!i&iarie!

Dome!ti*

BOB#ARDS Lt&.

BOB #apita" Mar-et! Lt&.

Nainita" Ban- Lt&.

O,er!ea!

Ban- o Baro&a (Bot!wana$ Lt&.

Ban- o Baro&a (en'a$ Lt&.

Ban- o Baro&a (Ugan&a$ Lt&.

Ban- o Baro&a (Gu'ana$ Lt&.

Ban- o Baro&a (New ea"an&$ Lt&

Ban- o Baro&a (Tan/ania$ Lt&

Ban- o Baro&a (Trini&a& 0 To+ago$ Lt&.


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Ban- o Baro&a (G%ana$ Lt&.

O,er!ea! 7 Repre!entati,e Oi*e!

Ban- o Baro&a (T%ai"an&$

Ban- o Baro&a (Ma"a'!ia$

Ban- o Baro&a (Au!tra"ia$

Dome!ti* 7 A!!o*iate

Baro&a Pioneer A!!et Management #ompan' Lt&

In&ia Fir!t Lie In!uran*e #ompan' Limite&

Baro&a Uttar Pra&e!% Gramin Ban-

Baro&a Ra)a!t%an Gramin Ban-

Baro&a Gu)arat Gramin Ban-

Nanita" 7A"mora !%etri'a Gramin Ban-

%a+ua7D%ar !%etri'a Gramin Ban-

O,er!ea! 7 A!!o*iate

In&o7am+ia Ban- Lt&. (Lu!a-a$

Ban-! in In&ia %a,e em+ra*e& inormation an& *ommuni*ation te*%no"og' in a +ig

6a'. T%e' %a,e migrate& to *ore +an-ing p"atorm t%ere+' !eam"e!!"' networ-ing

t%eir +an- +ran*%e! a*ro!! t%e *ountr'. T%i! %a! %e"pe& +an-! to pro,i&e

en%an*e& !er,i*e! an& new pro&u*t! to t%eir *u!tomer! in a more ei*ient manner.

T%e purpo!e o t%i! re!ear*% i! to e3amine t%e a"ternate &e"i,er' *%anne"!

a,ai"a+"e to +an- *u!tomer! or ,ariou! +an-ing !er,i*e! at t%eir &oor !tep.


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A9()6'A() D)98:)65 C;A'')9 (Bran*%"e!! +an-ing$

Bran*%"e!! +an-ing i! a &i!tri+ution *%anne"!trateg' u!e& or &e"i,ering inan*ia"!er,i*e!wit%out re"'ing on +an- +ran*%e!. 6%i"e t%e !trateg' ma' *omp"ement an

e3i!ting +an- +ran*% networ- or gi,ing *u!tomer! a +roa&er range o *%anne"!

t%roug% w%i*% t%e' *an a**e!! inan*ia" !er,i*e!4 +ran*%"e!! +an-ing *an a"!o +e

u!e& a! a !eparate *%anne" !trateg' t%at entire"' orgoe! +an- +ran*%e!. A**or&ing

to a =:88 !ur,e'4 =Q o re!pon&ent! !ai& t%e Internet i! t%eir preerre& +an-ing

met%o&. On"' =:Q !e"e*te& +ran*% +an-ing 7 a !%arp &e*"ine *ompare& wit% =::

w%en :Q o re!pon&ent! preerre& to +an- at a +ran*%$

E3amp"e! o +ran*%"e!! +an-ing te*%no"ogie! are t%e Internet4 automate& te""er

ma*%ine! (ATM!$4 POS &e,i*e!4 EFTPOS &e,i*e!an& mo+i"e p%one!. Ea*% o

t%e!e te*%no"ogie! !er,e to &e"i,er a !et o +an-ing !er,i*e! an& are part o

&i!tri+ution *%anne"! t%at ma' +e u!e& eit%er !eparate"' or in *on)un*tion to orm t%e

o,era"" &i!tri+ution *%anne" !trateg'.

For e3amp"e4 #ooperati,e Ban- o en'au!e! t%e Internet4 ATM!4 POS &e,i*e!4EFTPOS &e,i*e!4 an& mo+i"e p%one! a! te*%no"ogie! to &e"i,er it! +an-ing !er,i*e!
http://en.wikipedia.org/wiki/Distribution_(business)http://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Branch_(banking)http://en.wikipedia.org/wiki/Internethttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/POS_terminalhttp://en.wikipedia.org/wiki/EFTPOShttp://en.wikipedia.org/wiki/Mobile_phonehttp://en.wikipedia.org/wiki/Cooperative_Bank_of_Kenyahttp://en.wikipedia.org/wiki/Distribution_(business)http://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Financial_serviceshttp://en.wikipedia.org/wiki/Branch_(banking)http://en.wikipedia.org/wiki/Internethttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/POS_terminalhttp://en.wikipedia.org/wiki/EFTPOShttp://en.wikipedia.org/wiki/Mobile_phonehttp://en.wikipedia.org/wiki/Cooperative_Bank_of_Kenya


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t%roug% a *om+ination o &i!tri+ution *%anne"! in*"u&ing !tationar' +an- +ran*%e!4

mo+i"e +an- +ran*%e!4 ATM!4 +an- agent!4 On"ine +an-ing4 an& mo+i"e +an-ing. A""

o t%e!e are &i!tri+ution *%anne"!4 'et on"' t%e "a!t our are +ran*%"e!! &i!tri+ution

*%anne"! an& orm part o EJuit' Ban-!! +ran*%"e!! +an-ing !trateg' (EJuit' Ban-

reer! to it! +ran*%"e!! +an-ing *%anne"! a! a"ternate &e"i,er' *%anne"!$.

Bran*%"e!! +an-ing te*%no"ogie! an& &i!tri+ution *%anne"! !%ou"& +e &i!tingui!%e&

rom ea*% ot%er a! t%e two ma' o,er"ap4 w%i*% *an +e *onu!ing ATM! an& mo+i"e

p%one! *an +e te*%no"ogie! an& &i!tri+ution *%anne"!4 w%i"e POS an& EFTPOS

&e,i*e! are on"' te*%no"ogie! +ut not &i!tri+ution *%anne"!rat%er4 t%e "atter two

te*%no"ogie! are p"a*e& at point! o !a"e t%roug% ot%er &i!tri+ution *%anne"! !u*% a!

agent!4 w%i*% are u!ua""' retai" out"et! t%at a""ow t%eir *u!tomer! to pa' or

pur*%a!e! +' u!ing t%eir &e+itor *re&it*ar&!.

Alternate Banking Channels

#ompetition an& *omputeri/ation %a,e *%ange& t%e In&ian +an-ing !*enario.

Manua" "e&ger! are rep"a*e& +' &e!- top *omputing an& e"e*troni* !tatement! o

a**ount! are rep"a*ing !a,ing +an- pa!!+oo-!. P"a!ti* *ar&! %a,e ma&e t%e wa""et

t%inner. Initia""' +an- +ran*%e! were *omputeri/e& on !tan&a"one +a!i!.

T%e ATMS were a"!o !tan&a"one ATM!. 6%en +an-! a&opte& *ore +an-ing

!'!tem!4 it re!u"te& in networ-ing o +ran*%e! a! we"" a! t%e ATM! a*ro!! t%e

*ountr'. It a"!o ga,e a i""ip to ATM networ- a*ro!! t%e *ountr' w%i*% %a! now

*ro!!e& t%e 8::4::: mar- in =:8=.

In&u*tion o te*%no"og' in a +ig wa' %a! ma&e t%e In&ian +an-! ro+u!t an&

!tronger. It %a! +eneite& t%e *u!tomer! in more wa'! t%an one. #u!tomer! no

"onger nee& to go to t%eir +ri*- an& mortar +ran*%e! an& !tan& in "ong Jueue! or

+an-ing !er,i*e!. T%e' *an &o t%eir +an-ing tran!a*tion! rom t%e *omort o t%eir

%ome or oi*e.

6it% t%e %e"p o inormation te*%no"og' an& *ommuni*ationTe*%no"og'4 +an-! in In&ia %a,e intro&u*e& man' new pro&u*t!
http://en.wikipedia.org/wiki/Online_bankinghttp://en.wikipedia.org/wiki/Mobile_bankinghttp://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/Credit_cardhttp://en.wikipedia.org/wiki/Online_bankinghttp://en.wikipedia.org/wiki/Mobile_bankinghttp://en.wikipedia.org/wiki/Debit_cardhttp://en.wikipedia.org/wiki/Credit_card


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An& !er,i*e! u!ing mo&ern &e"i,er' *%anne"! !u*% a! ATM4 internet

An& mo+i"e te"ep%on'.

De"it Cards

Ban- o Baro&a Internationa" De+it #ar& ena+"e! to a**e!! o,er =4::: Ban- o

Baro&a Inter*onne*te& ATM! !prea& a*ro!! ma)or *enter! in t%e *ountr'4 994:::

ATM! o mem+er +an-! o Nationa" Finan*ia" Swit*% in In&ia an& mu"timi""ion ATM!

wor"&wi&e. T%e!e *ar&! a"!o pro,i&e *on,enien*e o u!age at "itera""' a"" ma)or

mer*%ant out"et! in In&ia an& a+roa&.


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Baro&a Ki!a E"e*tron A #"a!!i* Pro&u*t

Baro&a Ma!ter #ar& #om+i5 Go"& A Go"&en

#%oi*e

RuPa' De+it #ar&
http://www.bankofbaroda.co.in/pfs/currentofferdebit_09_10_12.asp


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8nternet Banking % BA6&DA C&'')C(

Internet Ban-ing a"!o -nown a! e7Ban-ing or On7"ine Ban-ing i! t%e one o

t%e mo!t poweru" te*%no"ogi*a" pro&u*t! in,o",ing t%e u!e o Internet or

&e"i,er' o +an-ing pro&u*t! 0 !er,i*e!. eeping pa*e wit% t%e emerging

tren&!4 our +an-5! inno,ati,e a"ternate &e"i,er' *%anne" 1Baro&a #onne*t2

wa! "aun*%e& on 8.:9.=:: SO THAT THE *u!tomer i! a+"e to operate

%i!:4:::4:::


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T%e ma)or te*%no"og' initiati,e! in*"u&e imp"ementation o a #ore Ban-ing So"ution4

networ-ing it! +ran*%e! to oer YAn'w%ere Ban-ing.Y

Ban- o Baro&a %a& !et up an e3ten!i,e networ- o8= +ran*%e!(in*"u&ing =

e3ten!ion *ounter!$ !panning t%e "engt% an& +rea&t% o t%e *ountr'. T%ere i! a

+ran*% in t%e ,i*init' o e,er'one in nee& o a +an-ing !o"ution. Internet Ban-ing %a!

a"!o +een imp"emente& in tota" 8 o,er!ea! territorie! ,i/. Tan/ania4 Ugan&a4 en'a4

Mauritiu!4 Se'*%e""e!4 Bot!wana4 New ea"an&4 UAE4 FII et*.

A"" *u!tomer! *an regi!ter un&er Baro&a #onne*t or Kiew an& < or Tran!a*tion

a*i"it'

#an !ee t%eir A**ount !ummar' o a"" operati,e4 &epo!it an& "oan a**ount! an& *an

get a**ount !tatement!. Un&er Tran!a*tion a*i"it' *u!tomer *an (in a&&ition to t%e

a+o,e KIE6 a*i"itie!$ *an tran!er un&! imme&iate"' or !*%e&u"e or a uture &ate to

!e" "in-e& an& t%ir& part'4 *an pa' t%roug% On"ine Ta3 7 Dire*t an& In&ire*t ta3e!

on"ine !u*% a! E3*i!e Dut'4 Ser,i*e Ta34 #u!tom! Dut'4 In*ome Ta3 et*.

Ban- *u!tomer! *an a"!o Pa' t%roug% Baro&a Ea!' Pa' 7 uti"it' +i""! "i-e e"e*tri*it'4

mo+i"e et*4 Donation!4 Su+!*ription4 Tra,e" p"an +oo-ing on"ine an& +oo-ing o t%e

Rai" Ti*-et Z IR#T# Baro&a #onne*t a*i"it' pro,i&e& +' t%e +an- i! ree o *o!t.

1Baro&a #onne*t2 *u!tomer! are *"a!!iie& in two *ategorie!

(i$ Retai"

(ii$ #orporate.

Baroda Connect 6etail

A"" INDIKIDUALS (in*"u&ing )oint a**ount!$ are *on!i&ere& a! Retai" *u!tomer or

t%e purpo!e o 1Baro&a #onne*t2.

Baroda Connect Corporate

A"" NON7INDIKIDUALS are *on!i&ere& a! *orporate *u!tomer or t%e purpo!e o

1Baro&a #onne*t2

Advantages to the Bank

#o!t ee*ti,e.

Baro&a E"e*tron i! reJuire& an& a,ai"a+"e to our *u!tomer! w%o are e"igi+"e to operate t%eir

a**ount in&i,i&ua""'.

De+it #ar&! *annot +e i!!ue& un&er o""owing *on&ition!

A**ount t'pe! wit% operating in!tru*tion ot%er t%an o 1!e"24 1Eit%er or Sur,i,or2 or

1So"e Proprietor2 Ki!ua""' impaire& per!on! %o"&ing a**ount )oint"'.

Baroda 4aster Card =Com"i> ?old < A ?olden Choice

Baro&a Ma!ter #ar& #om+i5 Go"&4 a go"&en *%oi*e or our premium *u!tomer!4 w%i*%

i! en,i!age& to meet t%eir reJuirement o %ig%er !pen&:4:::


16/60

To meet mar-et *ompetition.

To meet *u!tomer5! reJuirement.

Di,ert *u!tomer to a"ternate &e"i,er' *%anne" an& uti"i/e manpower

or ot%er a*ti,itie!.

Advantages to the Customers

= 3 3 > Roun& t%e #"o*- an' w%ere on"ine +an-ing.

Sae 0 Se*ure 7 8=; +it SSL en*r'ption.

#o!t Ei*ient 7 A"mo!t a"" !er,i*e! are a,ai"a+"e ree o *o!t.

Fun& Tran!er 7 In!tant

A""ow *a!% wit%&rawa" t%roug% ATM! or 'our imme&iate nee&! o R!. =>4:::


17/60

E7mai" ID an& Mo+i"e Num+er are man&ator'.

For Retai" *u!tomer!4 Date o Birt% i! man&ator'.

Bran*% i! reJuire& to ,eri' &etai" mentione& in app"i*ation orm wit% t%e &etai"

a,ai"a+"e in Fina*"e. An' *%ange !%ou"& +e entertaine& wit% !upporting

&o*ument.

Bran*%e! are reJuire& to pro*e!! app"i*ation t%roug% D#R menu in Fina*"e.

T%e app"i*ation !u+mitte& +' *u!tomer i! to +e retaine& at +ran*%.

$ E"igi+i"it' #riterion 7

E"igi+"e or Retai" < #orporate

o Se" Retai"

o Eit%er or Sur,i,or Retai"

o Per7Pro Retai"

o An'one or Sur,i,or or Sur,i,or! Retai"

Dierent 1RIGHTS2 a,ai"a+"e un&er 1Baro&a #onne*t2

Two t'pe! o rig%t! a,ai"a+"e un&er 1Baro&a #onne*t24

(i$ Kiew rig%t

(ii$ Tran!a*tion rig%t.

i :iew 6ight

I ,iew rig%t i! a!!igne& to a *u!tomer t%en *u!tomer wi"" not +e a+"e to

ma-e inan*ia" tran!a*tion! t%roug% 1Baro&a #onne*t2.

ii (ransaction 6ight

I tran!a*tion pa!!wor& i! gi,en to a *u!tomer t%en *u!tomer wi"" +e a+"e to

,iew %i! a**ount! an& a"!o ma-e !pe*ii* or a"" -in& o inan*ia" tran!a*tion!

t%roug% 1Baro&a #onne*t2.

Bran*%e! are a&,i!e& to !e"e*t 1Kiew2 or 1Tran!a*tion2 rig%t *areu""'

w%i"e &oing D#R4 a! rig%t on*e a!!igne& *an not +e *%ange& at +ran*%

"e,e".

Per!on! < A**ount! not e"igi+"e or 1Baro&a #onne*t2

a$ I""iterate a**ount %o"&er.

+$ Dormant a**ount!.

E"igi+i"it'

6e oer Baro&a Mae!tro De+it #ar& to a"" our *u!tomer! w%o wi!% to %a,e more !e*ure& *ar& a

i!!uan*e.

De+it #ar&! *annot +e i!!ue& un&er o""owing *on&ition!

A**ount t'pe! wit% operating in!tru*tion ot%er t%an o 1!e"24 1Eit%er or Sur,i,or2 or 1So"e Pro

Ki!ua""' impaire& per!on! %o"&ing a**ount )oint"'.Baroda :isa Platinum < &ur Premium &ffer

Baro&a Ki!a P"atinum i! an e3*"u!i,e oer or a"" our e!teeme& *u!tomer! a""ow! %ig%er !pen&in

"imit! apart rom a %o!t o oer! e3ten&e& +' Ki!a Internationa" an& Ban-. A true pri,i"ege& *"a!!

e' eature!

Segmente& oering wit% %ig%er "imit! on POS i! R!.=4::4:::

o Emergen*' *ar& rep"a*ement

o Emergen*' *a!% &i!+ur!ement

o Tra,e" a!!i!tan*e

Kariou! rewar&4::4:::


18/60

*$ Inoperati,e a**ount!.

&$ Minor a**ount %o"&er! (note t%at guar&ian *an a,ai" t%e a*i"it'$.

e$ A**ount! w%ere garni!%ee< atta*%ment or&er i! re*ei,e&.

D)98:)65 C;A'')9 6)E)@( DC6Su+mi!!ion o 1Baro&a #onne*t2

app"i*ation! i! &one t%roug% t%e D#R (De"i,er' #%anne" ReJue!t$ menu option in

Fina*"e. Un&er t%i! !'!tem t%e +ran*%e! are reJuire& to *apture inormation in t%e

ina*"e t%roug% D#R menu option an& t%e !ame i! tran!erre& to Baro&a #onne*t

Operation! Team (B#OT$ automati*a""' ne3t &a' morning.. P%'!i*a" 1Baro&a

#onne*t2 app"i*ation orm! to +e retaine& an& -ept at +ran*% an& !%ou"& not +e

!ent to B#OT. Bra*%e! !%ou"& in,aria+"' *%e*- t%e app"i*ation orm ,er' *areu""'

+eore *apturing t%e &etai"! in D#R menu.

4o"ile Banking BA6&DA 4%C&'')C(

BARODA M7#ONNE#T !er,i*e a""ow! 'ou to +an- an'time an'w%ere u!ing

'our mo+i"e p%one. It i! a !e*ure4 *on,enient4 menu &ri,en mo+i"e *"ient

app"i*ation4 w%ere 'ou *an ,iew a**ount re"ate& inormation4 tran!er un&!4

pa' +i""!4 +oo- air"ine

84::4::: ATM! in t%e *ountr'.


19/60

#u!tomer! a wor"& o *on,enien*e on t%eir mo+i"e or &oing on"ine +an-ing

an'w%ere an& an'time wit%out %a,ing a *omputer or ,i!iting t%e +ran*%. T%e

Ban-ing App"i*ation *an +e &own"oa&e& on 'our mo+i"e p%one an& *an +e u!e&

to *on&u*t +an-ing tran!a*tion! in 'our Ban- o Baro&a a**ount u!ing 'our

regi!tere& mo+i"e p%one.

In or&er to popu"ari!e Mo+i"e +an-ing4 Ban- %a! intro&u*e& !e,era" new

eature! "i-e IMPS4 IMPS t%roug% A**ount Num+er4 Nationa" Uniie& USSD

P"atorm (NUUP$4 et*. to ena+"e power o "o*ation ree +an-ing or #u!tomer.

For *on,enient !%opping4 &ining out at !e"e*te& out"et! a**epting RuPa' #ar&!

in In&ia.

RuPa' De+it #ar&! %a,e t%e a&&itiona" !e*urit' o PIN +a!e& aut%ori/ation

e,en or tran!a*tion! ma&e at Mer*%ant out"et!.


20/60

HO6 TO AKAIL M7#ONNE#T FA#ILIT

To a,ai" t%e Mo+i"e Ban-ing a*i"it'4 !imp"' perorm t%e o""owing t%ree

!tep!

8. Regi!tration

=. Sotware Down"oa&

. In!ta""ation < A*ti,ation

@ervices &ffered

BALAN#E EN\UIR

Se"e*t Ba"an*e EnJuir'.

Enter 'our &igit mo+i"e Pin.

Get +a"an*e o primar' a**ount on !*reen

MINI STATEMENT

Enter 'our &igit mo+i"e Pin.

Get mini !tatement *ontaining "a!t ; tran!a*tion! o 'our a**ount on

S*reen4 tran!a*tion! in *a!e o #DMA p%one!.

FUND TRANSFER (6ITHIN BAN$

(A$ MOBILE TO MOBILE

Se"e*t +enei*iar' regi!tration.

Enter +enei*iar' mo+i"e num+er (to +e a regi!tere& Baro&a M#onne*t

#u!tomer$ an& mo+i"e Pin to *omp"ete +enei*iar' regi!tration.

Go to pa'ment option an& in,o-e t%e "i!t o +enei*iarie!.

Se"e*t +enei*iar'4 enter Amount an& 'our &igit mo+i"e Pin.

Get tran!a*tion !u**e!!u" me!!age on !*reen +enei*iar' a"!o get! an SMS.

For a"rea&' regi!tere& +enei*iarie! t%e tran!a*tion pro*e!! i! "imite& to a+o,e

!tep!.

(B$ MOBILE TO A##OUNT

Se"e*t +enei*iar' regi!tration

Enter t%e 8 &igit a


21/60

S'!tem et*%e! %i! name or 'our *onirmation

#onirm an& *omp"ete regi!tration

Go to pa'ment option an& in,o-e t%e "i!t o +enei*iar'

Se"e*t +enei*iar'4 enter Amount an& 'our &igit mPin.

Get tran!a*tion !u**e!!u" me!!age on !*reen.

For a"rea&' regi!tere& +enei*iarie! t%e tran!a*tion pro*e!! i! "imite& to a+o,e

!tep!.

SERKI#ES

(A$ BILL PAMENT

REGISTER BILLER

Regi!ter t%e +i""er +' !e"e*ting t%e appropriate *ategor'4 t%en !e"e*t t%e

reJuire& +i""er 0 enter t%e *orre*t inormation reJuire&.

MAE PAMENT

Regi!tere& Bi"" Pa'ment Z Se"e*t t%e regi!tere& +i""er4 *onirm +' !e"e*ting

u""


22/60

Se"e*t Air"ine.

Enter mPin4 Boo-ing Reeren*e No.(BRN$.

#onirm t%e &etai"! +' entering mPin. Ti*-et *onirmation wi"" +e !ent

a! an SMS to t%e u!er5! mo+i"e wit% a *op' to regi!tere& E7Mai".

REPRINT OPTION

#u!tomer *an get t%e &etai"! o t%e air"ine ti*-et +oo-e&

MOKIE TI#ETING

Enter mPin4 *it'4 "anguage4 no. o ti*-et! an& &ate.

Se"e*t t%eatre rom t%e "i!t pro,i&e&.

Se"e*t mo,ie an& timing!.

#onirm t%e +oo-ing +' entering 'our mPin

SHOPPING

Enter mPin4 amount an& mer*%ant5! mnemoni* name

#onirm +' entering t%e mPin.

Se"e*t mo,ie an& timing!.

#onirm t%e +oo-ing +' entering 'our mPin

Su**e!!u" me!!age wi"" +e re*ei,e& on !*reen an& in+o3.

MOBILE RE#HARGE

Enter mPin an& mo+i"e num+er (to +e *%arge&$.

Se"e*t t%e amount wit% w%i*% 'ou want to re*%arge t%e prepai& mo+i"e

num+er.

#onirm +' entering t%e mPin.

Get tran!a*tion !u**e!!u" me!!age on !*reen an& in+o3. OTHER SERKI#ES

STOP #HE\UE

Enter mPin an& *%eJue num+er.

Get !u**e!!u" me!!age i *%eJue i! not a"rea&' pai&.

#HE\UE STATUS

Enter mPin an& *%eJue num+er.

Get t%e !u**e!!u" me!!age on !tatu! o t%e *%eJue.


23/60

BLO# #ARD

Hot "i!t t%e &e+it *ar& +' entering t%e mPin.

T%i! Ser,i*e i! a,ai"a+"e or *u!tomer! regi!tere& t%roug% ATM on"'.

LO#ATOR

ATM Lo*ator Z Lo*ate +an-5! ATM u!ing pin *o&e or t%e "o*ation.

Bran*% Lo*ator Z Lo*ate +an-5! +ran*% u!ing pin *o&e or t%e "o*ation.

)%?ateway

Internet pa'ment gatewa' i! an internet +a!e& pa'ment !'!tem un&er e7*ommer*e

+u!ine!!4 *%ri!tene& a! 1Baro&a e7Gatewa'2 +' Ban- o Baro&a.

It a""ow! mer*%ant! to oer t%eir goo&! an& !er,i*e! t%roug% we+!ite!.

T%e *on!umer i! pro,i&e& an opportunit' to -now4 *ompare an& !%op pro&u*t!

on ,irtua" !tore! roun& t%e *"o*- rom t%e *on,enien*e o t%eir %ome. Sin*e

t%e *on*ept o ,i!iting a p%'!i*a" !tore i! +e*oming time *on!uming an&

in*on,enient e!pe*ia""' at ma)or *enter!.

T%e Internet pa'ment gatewa' inra!tru*ture i! u!ua""' *omp"e3 an& e3pen!i,e. It

pro,i&e! an ea!' an& !e*ure me*%ani!m to mer*%ant! or pro*e!!ing on"ine

pa'ment! +' !%ie"&ing t%em rom un&er"'ing *omp"e3it' o pa'ment tran!a*tion!

an& integration wit% e"e*troni* un& tran!er !wit*%e!.

IPG !er,i*e pro,i&er i! re!pon!i+"e or !ett"ement4 a**ounting4 re*on*i"iation

+etween ,ariou! agen*ie! in,o",e& an& mer*%ant i! ree to *on*entrate on

%i! +u!ine!!.


24/60

An initiati,e o Ban- o Baro&a to a*i"itate mer*%ant! to initiate


25/60

P%oto*op'4 Mi*roi"m eJuipment 0 !upp"ie! Me&i*a"4 Denta"4 Op%t%a"mi* 0 Ho!pita"

eJuipment 0 !upp"ier! 4#on!tru*tion materia"! 4Non &ura+"e goo&!4 #%emi*a" 0

a""ie& pro&u*t! 4 Motion pi*ture 0 ,i&eo tape4 #D! 0 DKD! 4E"e*tri*a" part! 0

eJuipment 4P"um+ing 0 %eating eJuipment 0 !upp"ier4 In&u!tria" !upp"ier!

4#ommer*ia" p%otograp%'4 Art 0 Grap%i*! 4#"eaning4 Maintenan*e 0 anitoria"

Ser,i*e!4 #arpet 4Opti*ian! 4Si"- 0 Sari! 4Re!taurant! 4Petro" Pump! 4Han&i*rat!

. On"ine #"a!!iie&! o+ porta"!7i.e. Nau-ri.*om4 Mon!ter.*om et*.4

Matrimonia" !ite!4 Automo+i"e!

. Pai& *ontent !u+!*ription Sport!7 Game!4 Re!ear*% 0 report!4 S%opping gui&e!4

E3*"u!i,e ,i&eo!4 Finan*ia" Inormation4 Au&io +oo-! et*.

>. Digita" Down"oa&! Ring Tone!76a""paper!4 Pi*ture Me!!age4 Logo!4 Game!4

Mu!i*


26/60

Mer*%ant A*Juiring Po"i*' &o*ument w%i*% i! !igne& o +' !enior

management team an& i! appro,e& +' t%e Boar&.

A&eJuate &ue &i"igen*e in*"u&ing !ite ,i!it! an& e,a"uation at t%e time o

enro"ment o mer*%ant. T%i! wou"& in*"u&e a&eJuate ,erii*ation o+a*-groun& o mer*%ant! an& u"i""ment o # norm!.

@ecurity 7eatures

Uti"i/e! !trong in&u!tr' !tan&ar& 8=; +it SSL en*r'ption

7D Se*ure A&&itiona" pa!!wor& *omp"iant wit% Ki!a an& Ma!ter#ar&

proto*o" !pe*ii*ation! an& Re!er,e Ban- o In&ia gui&e"ine! (re&u*e!

*%an*e! o rau& to a"mo!t neg"igi+"e$ M*Aee Se*ure To pre,ent rom Internet worm! an& *re&it *ar& t%et!4 we are

u!ing M*Aee Se*ure *ertiie& !'!tem. It *ontinuou!"' !*an! me!!age!

*oming to t%e !er,er an& !en& a"ert! to a&mini!trator.

T%e &ata tran!mi!!ion i! en*r'pte& an& !torage i! un&er !tri*t &ata *entre

en,ironment.

Benefits of Baroda e%?ateway

Owne& inra!tru*ture o %ar&ware4 !otware an& &e&i*ate& !upport !'!tem orBaro&a e7Gatewa'. Ho!te& rom Ban-5! tier7 &ata *entre pro,i&ing =33>

G"o+a" !upport.

E3*"u!i,e +u!ine!! ,erti*a" or e7Bu!ine!!4 %ea&e& +' Genera" Manager4

emp%a!i/ing Ban-5! o*u! towar&! e7*%anne"!.

Be!t a,ai"a+"e te*%no"og' an& time +oun& !upport in integration an&

operation! at *ompetiti,e rate!.

De&i*ate& operation! team to pro,i&e a!!i!tan*e in *oniguration4 &a' 7to7 &a'pro*e!!ing4 !ett"ement an& a!!o*iate& re*on*i"iation.

Mer*%ant! get *re&it a! ear"' a! ne3t wor-ing &a' or INR4 t%oug% Ban-

re*ei,e! !ett"ement !u+!eJuent"' ater 87= &a'!.

Mer*%ant i! !%ie"&e& rom in!ta""ing an& maintaining *omp"e3 te*%no"og' an&

intera*ting wit% ,ariou! agen*ie!.

Pa'ment i! re*ei,e& in !tipu"ate& timerame e,en t%oug% Ban- re*ei,e! t%e

amount !u+!eJuent"'.


27/60

Mer*%ant *an t%em!e",e! ,iew%ome:4:::


28/60

T%e reJue!t i! pro*e!!e& at t%e Pa'ment Gatewa' an& t%e !u**e!! or ai"ure

re!pon!e i! !ent +a*- to t%e Mer*%ant on t%e re!pon!e URL !pe*iie& +' t%e

Mer*%ant. T%e *u!tomer wou"& t%en +e re7&ire*te& +a*- to t%e mer*%ant we+ !ite.

D Se*ure Z Keriie& +' KISA < Ma!ter *ar& Se*ure #o&e Pa'er Aut%enti*ation or

On"ine Tran!a*tion! ,eriie! *ar& u!er i&entit' at t%e time o on"ine u!age in

a&&ition to *ar& &etai"!. T%i! !er,i*e i! *omp"iant wit% Ki!a an& Ma!ter#ar& 7D

!e*ure proto*o" !pe*ii*ation!.

On !u**e!!u" aut%enti*ation o Ma!ter *ar& !e*ure *o&e


29/60

In!uran*e premium or In&ia Fir!t Lie In!uran*e Po"i*' %o"&er! t%roug% ATM!4 ATM

Tran!a*tion re*eipt printing in HINDI4 Regiona" Language S*reen !e"e*tion or

Gu)arati4 Marat%i an& Tami"4 Ta"-ing ATM! or ,i!ua""' impaire& per!on!4

imp"ementation o Frau& management So"ution in ATM!< POS in In&ia %a,e +een

a&&e& &uring t%e 'ear. Ban- %a! !u**e!!u""' "aun*%e& Rupa' ATM an& Rupa'

## *ar&! or it! RRB! a"!o.

Ban- o Baro&a %a! a"!o propo!e& !ome more #u!tomer #entri* initiati,e! "i-e

Imme&iate Pa'ment Ser,i*e! (IMPS$ t%roug% ATM!4 Regiona" Language !*reen

!e"e*tion in ATM! (or Ma"'a"am4 Te"ugu4 anna&a4 Benga"i$4 #%eJue +oo- reJue!t

t%roug% ATM!4 NEFT t%roug% ATM!4 Rupa' e7*ommer*e4 mu"ti7a*tor

aut%enti*ation or *ar& not pre!ent tran!a*tion!4 Ki!a De+it *ar& or UAE4

BSP(Ban- Sout% Pa*ii*$ Inter*%ange Imp"ementation or FII4 Prepai& *ar&

wit%&rawa"! t%roug% ATM!4 #%ip Ba!e& #ar& Imp"ementation in In&ia4 Oman an&

Mauritiu!4 #ar& to #ar& un& tran!er4 Bi"" Pa'ment t%roug% ATM! et*.

Pa'ment S'!tem!

A"" +ran*%e! o Ban- o Baro&a (w%i*% are #BS7*omp"iant$ are ena+"e& or

inter+an- remittan*e! t%roug% RTGS an& NEFT. T%e RTGS an& NEFT %a,e

a"!o +een intera*e& wit% Ban-5! internet +an-ing porta". T%e Straig%t

t%roug% Pro*e!!ing (STP$ o NEFT 0 RTGS %a,e +een imp"emente& or t%e

Ban- a! we"" a! RRB!. RTGS 0 NEFT %a! a"!o +een imp"emente& in

Ugan&a.

Internet Pa'ment Gatewa' !er,i*e! or &e+it *ar&!


30/60

New #re&it #ar& Management S'!tem %a! +een imp"emente& to pro,i&e

*ompre%en!i,e management an& !upport or 'our Ban-5! #re&it #ar&

operation!.

T%e S6IFT a*i"it' or wor"&wi&e inter7+an- inan*ia" *ommuni*ation i!

pro,i&e& at Foreign E3*%ange Aut%ori/e& Bran*%e! in In&ia a! a"!o in ==

o,er!ea! territorie! +' a&&ing U an& Au!tra"ia &uring t%e 'ear.

T%e Pa'ment Me!!aging So"ution (PMS$ i! imp"emente& in == o,er!ea!

territorie! +' a&&ing U an& Au!tra"ia &uring t%e 'ear 0 a"" aut%ori/e&

+ran*%e! in In&ia. PMS a*i"itate! ,a"i&ation an& ormatting o S6IFT

me!!age! generate& rom #BS a! per S6IFT !tan&ar&!4 an& a"!o goe!

t%roug% AML *%e*-.

During t%e 'ear un&er re,iew4 a gri& +a!e& #%eJue Trun*ation S'!tem

(#TS$ wa! imp"emente& in a"" MI#R #entre! in Sout%ern State!4 o"-ata4

Lu&%iana an& #%an&igar% in a&&ition to De"%i. Ban- %a! a"!o initiate& t%e

pro*e!! o imp"ementation o #TS in Mum+ai an& 6e!tern Gri& o

Ma%ara!%tra4 Gu)arat an& Ma&%'a Pra&e!%.

Automate& #%eJue Pro*e!!ing #entre (Inwar& 0 Outwar&$ wa!

imp"emente& in Mum+ai an& Surat an& A%me&a+a& were a&&e& &uring t%e

'ear4 a! a part o Bu!ine!! Pro*e!! Re7engineering un&er it! Pro)e*t

Na,nirmaan.

For regu"ator' *omp"ian*e4 t%e Anti Mone' Laun&ering (AML$ %a! +een

imp"emente& in In&ia an& == o,er!ea! territorie! +' a&&ing Be"gium &uring

t%e 'ear. Ban- o Baro&a %a! a"!o imp"emente& Ri!- Management !o"ution.

Ban- %a! a"!o imp"emente& P%a!e I AML !o"ution in a"" it! !pon!ore& RRB!

an& imp"ementation or P%a!e II AML i! in progre!!.

Ban-ing !e*tor i! un&ergoing ma)or tran!ormation towar&! *on,enien*e +an-ing

t%roug% te*%no"og' pro&u*t! an& *u!tomer *entri* initiati,e!. Ka"ue a&&e& !er,i*e!4


31/60

e!pe*ia""' in t%e area o an' time an'w%ere +an-ing4 are e!!entia" to retain e3i!ting

*"ient an& e3pan& +u!ine!!.

eeping t%i! in ,iew +an- o +aro&a %a! intro&u*e& ATM (Automate& Te""erMa*%ine$ a*i"it' in 899>. A"" our ATM! prior to intro&u*tion o De+it #ar& were

!tan& a"one ATM!.

A! o Fe+ =:8 we %a,e =8 networ-e& ATM! in operation.we going or Ope3

mo&e" ATM!

w%ere t%e ATM! a! we"" a! t%e !er,i*e! are out!our*e& an& t%e Ban- nee& to ma-e

t%e pa'ment to t%e ,en&or +a!e& on t%e u!age o ATM!.

8 On!ite ATM T%e ATM i! in!ta""e& in Bran*% Premi!e!

= O!ite ATM ATM i! awa' rom Bran*% premi!e!

Ope3 Mo&e" ATM T%e in!ta""ation a! we"" a! t%e managing o ATM! wi"" +e &one

+' t%e t%ir& part'

ISSUER In t%e *ar& in&u!tr'4 t%e i!!uer i! an entit'4 w%i*% i!!ue! t%e *ar&. In

t%e &e+it *ar& !egment4 t%i! norma""' i! a Ban-er4 w%o maintain! t%e a**ount

o t%e *u!tomer.

A#\UIRER T%e a*Juirer i! an entit'4 w%i*% ma-e! t%e pa'ment to t%e #ar&

%o"&er4 e.g. owner! o ATM! (mo!t"' +an-! S6IT#H Swit*% i! a #omputer wit% !pe*ia""' &e,e"ope& !otware4 t%e main

un*tion o w%i*% i! to route t%e tran!a*tion!.

ATM SE#URIT TIPS TO #USTOMERS

O+!er,e t%e !urroun&ing!

Be rea&' to tran!a*t +u!ine!!

Be *ourteou! to ot%er u!er!


32/60

Remain o+!er,ant w%i"e u!ing ATM

Lea,e Jui*-"'

P"ea!e note t%at !aet' i! t%e -e' to *u!tomer !ati!a*tion.

8 MANAGING 0 MONITORING OF ATM SERKI#ES

T%e +ran*%e! w%ere on!ite ATM i! "o*ate& mu!t en!ure t%at t%e ATM

remain! un*tiona" a"wa'!. An' +rea-&own mu!t +e reporte& to ,en&or on

t%eir to"" ree num+er or Boar& num+er *ir*u"ate& rom time to time4

imme&iate"' !o t%at *orre*ti,e mea!ure! ma' +e ta-en wit%out an' &e"a'.

6%i"e o""owing up *ertain pro"onge& &owntime in ATM! &uring wee-en&! ;8.

T%i! i! a !e*ure an& tru!te& e"e*troni* un&! tran!er !'!tem an& t%e *re&it

%a! to +e pa!!e& on to t%e +enei*iar' on t%e !ame &a' or at t%e mo!t on ne3t

wor-ing &a' on re*eipt o t%e me!!age. In *a!e +enei*iar' &etai"! are oun&

to +e in*orre*t t%en t%e un&! %a,e to +e returne& to t%e !en&ing +an-:4::::4:::=4 meant or 1#ar& Pa'ment!24 i! to a*i"itate re*o,er' o

*ar& &ue!< +i""!4 e"e*troni*a""' t%roug% NEFT in*"u&ing tran!er! among *ar&!.

Pre!ent"'4 ma)orit' o *re&it *ar& +i""! are +eing pai& +' wa' o *%eJue! +' t%e

*ar&%o"&er! to *ar& i!!uing +an-!. Pro*ee&! o t%e!e *%eJue! are *re&ite& to

*u!tomer! *re&it *ar& a**ount +' +an-! &ire*t"' or t%roug% *"earing4 i *u!tomer i!

not maintaining an a**ount wit% t%e *ar&7i!!uing +an-.


42/60

#u!tomer! wou"& +e reJuire& to urni!% t%e !pe*ii* a**ount num+er4 t%e 8

&igit *re&it *ar& num+er an& &e!ignate& IFS# o t%e *ar& i!!uing +an-5!

+ran*%.

Beneit! o NEFT T%e remitter nee& not !en& t%e p%'!i*a" *%eJue or DD to t%e +enei*iar'.

T%e +enei*iar' nee& not ,i!it %i! < %er +an- or &epo!iting t%e paper

in!trument.

Remitter *an initiate t%e remittan*e! rom %i! %ome < p"a*e o wor- u!ing t%e

internet +an-ing a"!o.

#re&it *onirmation o t%e remittan*e! !ent +' SMS or emai".

Se*ure& Tran!er o un&! a*ro!! t%e Ban-!.

Fun&! tran!erre& *an +e u!e& on t%e !ame &a' +' t%e re*ipient.

No *ourier


43/60

. A"" pa'ment! ma&e to t%e ,en&or!4 %a,ing t%eir a**ount! wit% ot%er Ban-! to +e

ma&e +' NEFT on"'.

g. A"" &i!+ur!ement! in "oan a**ount! to !upp"ier! < manua*turer! %a,ing a**ount!

wit% ot%er Ban-! to +e ma&e +' NEFT on"'.

%. #u!tomer! a!-ing or DD:4:::


44/60

ma' not %a,e a +an- a**ount.

NEFT operate! in %our"' +at*%e!4 78=7 !ett"ement! rom ; am to pm

on wee-&a'! an& 77 !ett"ement! rom ; am to 8 pm on Satur&a'.

6(?@

1RTGS2 !tan&! or Rea" Time Gro!! Sett"ement. RTGS !'!tem i! a un& tran!er

me*%ani!m +' w%i*% tran!er o mone' ta-e! p"a*e rom +ran*% o one +an- to

+ran*% o ot%er +an- on a 1rea" time2 an& on 1gro!!2 +a!i!.

T%i! i! t%e a!te!t po!!i+"e an& !'!temi*a""' important mone' tran!er !'!tem

t%roug% t%e +an-ing *%anne" or %ig% ,a"ue pa'ment!. Sett"ement in 1rea" time2

mean! t%e pa'ment tran!a*tion i! not !u+)e*te& to an' waiting perio&. T%e

tran!a*tion! are !ett"e& a! !oon a! t%e' are pro*e!!e&. 1Gro!! !ett"ement2 mean!

t%e tran!a*tion i! !ett"e& on one to one +a!i! wit%out +un*%ing wit% an' ot%er

tran!a*tion an& wit%out netting t%e &e+it! again!t t%e *re&it!. Sin*e mone' tran!er


45/60

ta-e! p"a*e in t%e +oo-! o t%e Re!er,e Ban- o In&ia4 t%e pa'ment i! ta-en a! ina"

an& irre,o*a+"e.

RTGS wa! intro&u*e& in In&ia +' RBI on =t% Mar*%4 =:: an& +an- o Baro&a

+e*ame a RTGS mem+er rom ;t% Ma'4 =::.

Rea" Time Gro!! Sett"ement S'!tem (RTGS$ i! an ei*ient4 !e*ure4 e*onomi*a"

an& re"ia+"e !'!tem o tran!er o un&! rom +an- to +an- a! we"" a! rom a

remitter5! a**ount in a parti*u"ar +an- to t%e +enei*iar'5! a**ount in anot%er +an-

a*ro!! t%e *ountr'. T%e minimum amount o ta3 un&er RTGS or t%e *u!tomer i! ] =

"a-%.

Anot%er &ieren*e +etween NEFT an& RTGS i! t%at tran!er o un&! up

to a "imit o ] >:::: i! a""owe& +' *a!% un&er NEFT w%i"e it i! !tri*t"' an a**ount to

a**ount tran!er in RTGS.

T%e un&! are ma&e a,ai"a+"e or imme&iate u!e. It i! a *%eaper remittan*e a*i"it'

a! *ompare& to *on,entiona" remittan*e "i-e DD or #o""e*tion o *%eJue!.

RTGS !'!tem *an reJuire re"ati,e"' "arge amount! o intra7&a' "iJui&it' +e*au!e

parti*ipant! nee& !ui*ient un&! in t%e !ett"ement a**ount to *o,er t%eir outgoing

pa'ment!. LiJui&it' *an *ome rom ,ariou! !our*e!4 in*"u&ing opening +a"an*e!4 or

re!er,e +a"an*e! at t%e *entra" +an-4 in*oming pa'ment! an& intra&a' *re&it

(w%i*% i! u!ua""' pro,i&e& +' t%e *entra" +an-$. A&eJuate "iJui&it'4 re"ati,e to t%e

,a"ue an& &i!tri+ution o pa'ment!4 ma-e! a !moot% "ow o pa'ment! po!!i+"e

t%roug% !u*% !'!tem!4 %e"ping to a,oi& &e"a'! in in&i,i&ua" pa'ment! an&

minimi/ing "iJui&it' ri!-!. T%e *o!t o intra7&a' "iJui&it' &epen&! on ,aria+"e! !u*%

a! amount reJuire&4 t%e opportunit' *o!t o maintaining "iJui& +a"an*e! an& t%e

*o!t o intra7&a' *re&it.

DIFFERENT BET6EEN RTGS AND NEFT

NEFT i! an e"e*troni* un& tran!er !'!tem t%at operate! on a Deerre& Net

Sett"ement (DNS$ +a!i! w%i*% !ett"e! tran!a*tion! in +at*%e!. In DNS4 t%e

!ett"ement ta-e! p"a*e wit% a"" tran!a*tion! re*ei,e& ti"" t%e parti*u"ar *ut7o time.

T%e!e tran!a*tion! are nette& (pa'a+"e an& re*ei,a+"e!$ in NEFT w%erea! in

RTGS t%e tran!a*tion! are !ett"e& in&i,i&ua""'.


46/60

For e3amp"e4 *urrent"'4 NEFT operate! in %our"' +at*%e! Z t%ere are twe",e

!ett"ement! rom ; am to pm on wee-&a'! an& !i3 !ett"ement! rom ; am

to 8 pm on !atu!&a'!. An' tran!a*tion initiate& ater a &e!ignate&

!ett"ement time wou"& %a,e to wait ti"" t%e ne3t &e!ignate& !ett"ement time

*ontrar' to t%i!4 in t%e RTGS tran!a*tion! are pro*e!!e& *ontinuou!"'

t%roug%out t%e RTGS +u!ine!! %our!.

6%o *an !en& 0 re*ei,e un&! t%roug% RTGS

In&i,i&ua"!4 irm! or *orporate! maintaining a**ount! wit% a +an- +ran*% *an

!en& 0 re*ei,e un&! t%roug% RTGS.

It i! t%ereore ne*e!!ar' or +ot% t%e remitter 0 t%e +enei*iar' to %a,e

an a**ount wit% an' +an- +ran*% in t%e #ountr'.

Pre reJui!ite or originating a tran!a*tion in RTGS

Originating an& &e!tination +an- +ran*%e! !%ou"& +e part o t%e

RTGS networ-

Amount to +e remitte&

Remitting *u!tomer5! a**ount num+er w%i*% i! to +e &e+ite&

Name o t%e +enei*iar' +an-

Name o t%e +enei*iar' *u!tomer

A**ount num+er o t%e +enei*iar' *u!tomer

Sen&er to re*ei,er inormation5!4 i an'

T%e IFS# num+er o t%e re*ei,ing +ran*%

Foe net +an-ing *u!tomer!4 !ome +an-! pro,i&e t%e a*i"it' to automati*a""'

pop7up t%e IFS# on*e name o t%e &e!tination +an- an& +ran*% i!

%ig%"ig%te& < *%o!en < in&i*ate& < -e'e& in.

Stru*ture o IFS#

T%e IFS# i! In&ian Finan*ia" S'!tem #o&e i! an a"p%a numeri* *o&e t%at

uniJue"' i&entiie! a +an-7+ran*% parti*ipating in t%e RTGS !'!tem.

IFS# i! u!e& +' t%e RTGS !'!tem to i&enti' t%e originating < &e!tination

+an-! < +ran*%e! an& a"!o to route t%e me!!age! appropriate"' to t%e

*on*erne& +an-! < +ran*%e!.

T%i! i! an 7887 &igit *o&e wit% t%e ir!t our a"p%a *%ara*ter! in&i*ate t%e


47/60

Ban-. (For our Ban- it i! BARB$. T%e it% *%ara*ter i! numera" ero (:$

re!er,e& +' RBI or uture u!e. T%e "a!t !i3 *%ara*ter! i&enti' t%e

re!pe*ti,e +an-5! +ran*%. (Ban- o Baro&a %a! a&opte& ALPHA *o&e o t%e

re!pe*ti,e +ran*% or t%e!e "a!t !i3 *%ara*ter!$. In *a!e t%e ALPHA *o&e i!

"e!! t%an !i3 a"p%a+et!4 t%en !ui3 +' X! !o a! to ma-e it !i3 *%ara*ter!.

For e3amp"e in t%e *a!e o Agra main +ran*%4 t%e a"p%a *o&e i! AGRA an&

t%e IFS #o&e4 t%u!4 !%a"" +e7 BARB:AGRAXX.

In *a!e o new !to*- o *%eJue +oo-! +eing !upp"ie& to a #BS +ran*%4 t%e #entra"

Stationer' &epartment at our Hea& Oi*e4 Baro&a ta-e! *are t%at t%e IFS #o&e o

t%e +ran*% i! +eing printe& )u!t a+o,e t%e MI#R +an& on t%e *%eJue!. T%i! IFS#

*an +e Juote& or re*ei,ing remittan*e rom ot%er +an-!. Our *u!tomer! *an

mention t%e IFS #o&e o t%e +ran*% to t%e remitter! w%o remit mone' to t%eir (our

*u!tomer!$ a**ount rom ot%er +an-! t%roug% RTGS


48/60

RTGS !er,i*e win&ow or Inter7+an- tran!a*tion! i! a,ai"a+"e rom :9.:: %our! to

8;.:: %our! on wee-&a'! an& rom :9.:: %our! to 8>.:: %our!.

T%ere are no gra*e timing! a""owe& +' RBI an& t%e en& time i! t%e *ut o time4 or

t%e me!!age to rea*% RBI Ser,er. T%ereore4 +ran*%e! !%ou"& KERIF an& re"ea!e

t%e RTGS me!!age! at "ea!t 8> to : minute! +eore t%e re!pe*ti,e *ut o timing!

( i.e. +eore .:: pm or *u!tomer pa'ment! an& +eore >.: pm or inter +an-

pa'ment! on Mon&a' to Fri&a' an& +eore 8=.:: pm or *u!tomer pa'ment!4 an&

+eore =.:: pm or inter +an- pa'ment! on Satur&a'!.$ Re"ea!e o pa'ment!

towar&! ag en& o t%e timing! *ou"& "ea& to *an*e""ation o t%e me!!age an& wi""

*au!e in*on,enien*e to t%e +ran*%:::


49/60

T%e *%arge! are !u+)e*t to *%ange rom time to time. Pre!ent"'4 t%e *%arge!

are a! un&er

RTGS THROUGH BAN7BRAN#H FOR PUBLI#

Outwar& Ser,i*e #%arge!

(in*"u!i,e o !er,i*e ta3$

Tran!a*tion time For ] = to ] > "a*! For a+o,e ] > "a*!

(i$ Between :9 am to 8= noon ] =;>.: %r! ] =9.: %r! to 8.: %r! ]


50/60

Time"' un&ing o *"earing !ett"ement a**ount an& tran!er o *"earing !urp"u!

un&!. T%i! %e"p! Ban-! in managing un&! in a +etter wa' +' minimi/ing t%e

*o!t o un&ing an& poo"ing o t%e !urp"u! or proita+"e &ep"o'ment.

U!e o monetar' management too"! +e*ome! !imp"er an& more ee*ti,e

Growing ,o"ume o tra&e an& *ommer*e reJuire! !pee&ier %an&"ing o

pa'ment tran!a*tion!

Di!aggregate& +a"an*e at ,ariou! RBI "o*ation!

Dii*u"tie! in optimum uti"i/ation o t%e a,ai"a+"e +a"an*e!

#u!tomer #%eJue ma' +oun*e gi,ing ri!e to #re&it Ri!-

A +an- ma' ai" to meet inter7+an- *"earing &ea&"ine

Inter7+an- *"earing +eing a &e+it7pu"" !'!tem4 a wrong +an- ma' get &e+ite&

RBI Remittan*e an& Intra7+an- TT !'!tem at +an-! %a! operationa"

+ott"ene*-!

In RTGS4 Pa'ee +an-! an& t%eir *u!tomer! re*ei,e un&! wit% *ertaint'4

&uring t%e &a'4 ena+"ing t%em to u!e t%e un&! imme&iate"' wit%out e3po!ing

t%em!e",e! to ri!-.

III. To *u!tomer!

In!tant tran!er o un&! rom one *u!tomer a**ount in Ban- A to anot%er

*u!tomer a**ount in Ban- B &uring RTGS operationa" %our!.

T%e' *an get new +an-ing !er,i*e! +a!e& on re"ia+"e %ig% ,a"ue un&!

tran!er !'!tem.

T%e RTGS !o"ution pro,i&e! or a !eparate tran!a*tion t'pe w%i*% *an +e

u!e& to tran!mit t%e *u!tomer inormation a"ong wit% t%e pa'ment me!!age to

t%e +enei*iar'! +an- in a !tru*ture& ormat.

RTGS S'!tem %a! a"rea&' attaine& t%e !tatu! o t%e "arge!t e"e*troni* un&

tran!er !'!tem in t%e *ountr' an& 8:8 +an-! are oering RTGS +a!e&

#u!tomer !er,i*e! rom o,er ::: +ran*%e! *o,ering a"mo!t a"" metro4

ur+an4 !emi7ur+an *entre5! an& !ome rura" *entre5! a*ro!! t%e *ountr'. A! on

Fe+ =:88 t%ere wa! an a,erage o o,er 8. mn tran!a*tion! per &a' wit%

a,erage &ai"' amount o ] 9:>.;; +n in t%e RTGS S'!tem o t%e *ountr'.

T%e remitter nee& not !en& t%e p%'!i*a" *%eJue or DD to t%e +enei*iar'.


51/60

T%e +enei*iar' nee& not ,i!it %i! < %er +an- or &epo!iting t%e paper

in!trument.

Remitter *an initiate t%e remittan*e! rom %i! %ome < p"a*e o wor- u!ing t%e

internet +an-ing a"!o. #re&it *onirmation o t%e remittan*e! !ent +' SMS or emai".

Se*ure& Tran!er o un&! a*ro!! t%e Ban-!.

Fun&! tran!erre& *an +e u!e& on t%e !ame &a' +' t%e re*ipient.

No *ourier


52/60

Pre Paid Cards

Intro&u*tion O,er t%e 'ear! we %a,e witne!!e& growt% o *re&it *ar&! an& De+it

#ar&! a! a"ternate pa'ment option! to *on,entiona" *a!%4 *%eJue an& &eman&

&rat. Pre pai& *ar&! are ne3t &e,e"opment in *ar& +u!ine!! w%i*% i! gaining

momentum in In&ian mar-et .Prepai& *ar&! are pre7un&e& *ar&! main"' u!e& or

git purpo!e4 ma-ing a&%o* pa'ment4 or on"ine pur*%a!e et* an& *an +e u!e& ti""

+a"an*e i! a,ai"a+"e in t%e *ar&. In pre7pai& *ar&!4 %e A**ount i! not e3po!e& an&

%en*e it prote*te&. Owner!%ip *an +e tran!erre& an& prepai& *ar&! are !ae an&

ea!' to %an&"e.

Open En&e& an& #"o!e En&e& *ar&! Prepai& *ar&! are a,ai"a+"e in non

re"oa&a+"e (u!e an& t%row$ a! we"" a! re"oa&a+"e (mu"ti u!e$ *ategor' +a!e& on t%e

t'pe o *ar& an& a!!o*iate& regu"ation. Prepai& ,ariant! w%i*% *an +e u!e& at "arge

num+er o mer*%ant "o*ation! are *a""e& open en&e& *ar&! an& t%e one! w%i*%

%a,e a**e!!i+i"it' at !e"e*t *entre!

Baro&a Git #ar&!

Ban- o Baro&a %a! "aun*%e& git ,ariant o prepai& *ar&! *a""e& 1Baro&a Git #ar&2on =:t% u"' =:88. T%i! Keriie& +' KISA5 ena+"e& preun&e& *ar& *an +e u!e& to

ma-e pur*%a!e! at mer*%ant out"et! an& on"ine !tore! w%i*% a**ept! KISA ti""

a,ai"a+"e amount on t%e *ar&. Pre7pai& *ar&! *an +e i!!ue& to an'+o&' wit% a ,a"i&

Ban- o Baro&a A:::


53/60

Baro&a Git *ar&! *an +e goo& re,enue !tream or +ran*%e! +' wa' o in*rea!e in

nonintere!t in*ome4 +rea-age in*ome4 an& "oat un&!. It a"!o %e"p! in in*rea!ing

t%e oot a""! at t%e +ran*%e! an& t%ere+' %e"p! t%e +ran*%e! or up !e""ing 0 *ro!!

!e""ing o ot%er pro&u*t!

Sa"ient eature! o Baro&a Git #ar&

I!!ue& in In&ian Rupee or a minimum amount o R!>::::::


54/60

6esearch methodology

Tit"e o t%e !tu&' 7 A"ternate &e"i,er' *%anne"

Duration o t%e pro)e*t 7> &a'!

Data !our*e

It i! we"" -nown a*t t%at t%e mo!t important !tep in mar-eting re!ear*% pro*e!! to &eine

t%e pro+"em .*%o!e or in,e!tigation +e*au!e a pro+"em we"" &eine& i! %a" !o",e& t%at wa!

t%e rea!on t%at at mo!t *are wa! ta-en w%i"e &eining ,ariou! parameter! o t%e pro+"em.

Ater gi,ing t%roug% +rain !torming !e!!ion4 o+)e*ti,e were !e"e*te& an& t%e !et on +a!e o

t%e!e o+)e*ti,e.

T%i! re!ear*% *o,er! a"" t'pe! o +an-! in in&ia. Data an& inormation were

gat%ere& rom !e*on&ar' !our*e! w%i*% in*"u&e& +oo-!4 )ourna"!4 new!paper!4

we+!ite!4 an& re!ear*% !tu&ie!.#riti*a" ana"'!i! o t%e &ata an& inormation *o""e*te& rom pu+"i!%e&

Sour*e! were ma&e -eeping t%e o+)e*ti,e! o t%e !tu&' in min&.


55/60

O+)e*ti,e! o t%e Stu&'

T%e o+)e*ti,e! o t%e !tu&' are

7 To i&enti' t%e a"ternate +an-ing &e"i,er' *%anne"! in In&ia

7 T%e a&&7on pro&u*t! an& !er,i*e!

7 T%e *%a""enge! a*e& in u!age o t%e a"ternate &e"i,er' *%anne"!


56/60

7acts and findings of the study

Mo&ern &e"i,er' *%anne"!7Te*%no"og' %a! great"' %e"pe& t%e +an-ing !e*tor to pro,i&e a"ternate &e"i,er'

*%anne"! +e!i&e! +an- +ran*%e!. T%e mo&ern a"ternate &e"i,er' *%anne"! a,ai"a+"e

to *u!tomer! or +an-ing !er,i*e! are

7 atm!4

7 internet +an-ing4

7 p%one +an-ing4

7 mo+i"e +an-ing4

7 mu"tiun*tiona" -io!-4

7 *a"" *entre!4

7 point o !a"e4 et*.

Atm! %a,e rep"a*e& +an- te""er! t%ere+' ma-ing *a!% wit%&rawa" an'time4

an'w%ere4 w%erea! pre,iou!"' %e %a& to ,i!it t%e +an- +ran*%e! &uring +u!ine!!

%our! or wit%&rawing *a!%. 6it% t%e a&,ent o internet4 on"ine +an-ing or e"e*troni*


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+an-ing (e7+an-ing$ %a! urt%er !imp"iie& +an-ing !er,i*e!. #u!tomer! *an ea!i"'

ma-e a %o!t o tran!a*tion! t%roug% internet +an-ing !u*% a!

7 un&! tran!er rom one a**ount to anot%er wit%in t%e +an- Or a*ro!! +an-!

t%roug% net < rtg!4

7 open e7i3e& &epo!it a**ount! < re*urring &epo!it a**ount!4

7 ma-e on"ine pur*%a!e!4 uti"it' +i"" pa'ment!4 et*. 6it% t%e a&,ent o wire"e!!

mo+i"e te"ep%on'4 mo+i"e +an-ing a! a mean! o an'time an' w%ere +an-ing %a!

*ome to !ta'. Kariou! t'pe! o tran!a*tion! are po!!i+"e u!ing mo+i"e +an-ing

a*i"it'. It i! tru"' a &e,i*e t%at %a! ma&e +an-ing7on7t%e7go5 po!!i+"e. 6it% !uperior

te*%no"og'4 internet +an-ing pro&u*t! are +e*oming popu"ar in *itie! an& metro!.

T%e!e in*"u&e

7 a**ount(!$ inormation4

7 t%ir& part' un& tran!er4

7 &own"oa&ing %i!tori*a" !tatement4 et*.

7 on"ine pa'ment o in*ome ta34 !a"e! ta34 e3*i!e an& *u!tom! &ut'4 o*troi

pa'ment!4

7 +oo-ing o rai"wa' < airwa' ti*-et!47 e7!%opping4

7 on7"ine !%are tra&ing4

7 %ote" +oo-ing!4

7 &onation!4

7 pa'ment o !*%oo" < *o""ege ee!4

7 pur*%a!e o mo,ie ti*-et!4 et*.

Mo+i"e +an-ing oer! a*i"itie! "i-e

7 mone' tran!er4

7 *a!% pa'ment!4

7 un&! tran!er4

7 mo+i"e < uti"it' +i"" pa'ment!4

7 re*%arge o prepai& mo+i"e < &t% < +roa&+an&

7 mo+i"e top up!4

7 a**ount inormation4 et*.


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T%e!e !er,i*e! are a,ai"a+"e at inger tip!4 +e'on& regu"ar +an-ing Hour!. T%e

+an-! it roa&map *"ear"' o*u!e! on t%e *ro!!7!e""ing an& up7!e""ing o &ierent

pro&u*t! an& !er,i*e! +' +an-! a! one!top inan*ia" ma"" or t%e *u!tomer!.

A&&7on pro&u*t! an& !er,i*e! wit% t%e progre!! in inormation te*%no"og' an&

*ommuni*ation inra!tru*ture4 +an-! in In&ia oer ,ariet' o te*%no"og' +a!e& a&&7

on pro&u*t! an& !er,i*e! !u*% a! &e+it *ar&4 *re&it *ar&4 prepai& *ar&4 atm *ar&4

p%one +an-ing4 et*. Smart *ar&4 De+it *ar&4 atm *ar&4 *re&it *ar&4 prepai& *ar&!4

et*. Ha,e !imp"iie& *a!% wit%&rawa"! an& !%opping (on7"ine a! we"" a! o"ine$4 et*.

P"a!ti* *ar&! are a**epte& or pa'ment at %ote"!4 re!taurant!4 !%op!4 petro" pump!4

et*. Prepai& *ar&! *an +e u!e& or a ,ariet' o purpo!e! !u*% a! tra,e" a+roa&4

giting4 emp"o'ee pa'ment!4 mea" a""owan*e4 et*. 8: i)!r 7 internationa" )ourna" o

!*ientii* re!ear*%.

C&'C9E@8&'

In&ian +an-! %a,e "e,erage& te*%no"og' an& intro&u*e& inno,ati,e +an-ing

pro&u*t! an& !er,i*e! to attra*t an& retain *u!tomer!. Se,era" ,ariant! o

tra&itiona" pro&u*t! %a,e +een intro&u*e& to *ater to &ierent !trata o *u!tomer!.

6%i"e atm! %,e +e*ome popu"ar among t%e *u!tomer! or *a!% wit%&rawa"!4

Ot%er !er,i*e! "i-e mo+i"e +an-ing an& internet +an-ing are !u+7optima""' u!e&.

E,en in atm *u!tomer! are not u!ing t%e u"" range o !er,i*e! a,ai"a+"e in atm!.

#u!tomer ootprint! in +an- +ran*%e! *ontinue to +e air"' %ig% e!pe*ia""' in pu+"i*

!e*tor +an-!. It i! e,i&ent t%at mere"' ro""ing out pro&u*t! an& !er,i*e! are not


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!ui*ient. #u!tomer! %a,e to +e e&u*ate& on %ow to u!e t%em in a !ae an&

!e*ure manner.

B8B98&?6AP;5

')$@ PAP)6


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$)B@8()@

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Bank of Baroda Alternative