Bank of Baroda Inaugurates Phygital Branch in New Delhi

Chandigarh, 14th March 2025: Bank of Baroda, one of India’s leading public sector banks, inaugurated another Phygital branch at Parliament Street in New Delhi. The phygital branch will redefine customer experience by seamlessly integrating self-service and assisted service models to meet the diverse requirements of customers. Bank of Baroda’s phygital branch features Self Service kiosks, a Video Contact Centre for non-financial services and Universal Service Desks for in-person customer service.

Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda inaugurated the Phygital branch. Shri Rakesh Kumar Sharma, General Manager & Zonal Head – New Delhi Zone, other senior bank executives and staff members of the Zone & Region along with valued customers were present during the inauguration.

On the occasion, Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “We are pleased to add one more phygital branch in New Delhi and fifth across the country, taking the milestone forward in redefining the banking experience for our customers. Phygital branch model seamlessly blends the best of physical and digital banking, ensuring a smart banking experience that caters to diverse needs – serving customers who wish to complete their day-to-day banking transactions independently as well as customers who prefer the human touch. This initiative has started showing better customer experience.”

The key features of Bank of Baroda’s Phygital branches are:

  •  Self-Service Kiosks: Self-service kiosks with interactive touch screens/tablets and other digital interfaces through which customers can avail a host of services such as PAN updation, receiving Account Statement through email, obtaining TDS certificate, nominee updation etc.
  •  Video Contact Centre: Customers can directly connect with the Bank’s contact centre through a video call for assistance on all non-personalised and non-financial services such as Home Loan enquiry, Savings Account, Term Deposit, Car Loan etc.
  •  Universal Service Desks: The Phygital branch also has an exclusive Service Area with Universal Service Desks that act as a one-stop solution for all banking needs for customers that require in-person service.

Bank of Baroda Launches NRE & NRO Account for Women NRIs

Mumbai, March 8th, 2025: In a first amongst public sector banks, Bank of Baroda announced the launch of the bob Global Women NRE & NRO Savings Account, designed exclusively for women NRIs to meet their global aspirations and unique banking needs. In addition, the Bank has revamped one of its flagship NRI offerings, the bob Premium NRE & NRO Savings Account, enhancing its features and benefits to provide a more rewarding banking experience to customers.

The bob Global Women NRE & NRO Savings Account comes with a range of unique benefits such as auto sweep facility enabling customers to earn higher interest, concessional interest rates on home loans and auto loans along with reduced processing charges; 100% concession on locker rent; a customised debit card with free domestic and international lounge access at airports; and free Personal and Air Accident Insurance coverage, becoming the first public sector bank to extend insurance coverage benefits to NRIs in savings accounts.

Ms. Beena Vaheed, Executive Director, Bank of Baroda said, “As India’s International Bank, Bank of Baroda has a robust global presence and understands the evolving aspirations of its NRI customers. The bob Global Women NRE & NRO Savings Account recognises the changing dynamics of today’s global Indian women and is designed to empower them by providing premium banking privileges and thoughtfully curated features that address their specific needs. On the occasion of International Women’s Day, Bank of Baroda stands ready as a trusted banking partner as women chart their global journey.”

Key Features and Benefits of the bob Global Women NRE & NRO Savings Account:

  • Customised debit card with nil issuance charges and concession on annual renewal fees.
  • Complimentary Domestic and International Airport Lounge access.
  • Concessional Interest Rates on Home Loans and Auto Loans, along with reduced processing charges.
  • 100% concession on Locker rent.
  • Free Air Accident Insurance Coverage of Rs 50.00 lakh and Personal Accidental insurance of Rs 5.00 Lakh with many add-on benefits.
  • Auto sweep facility available on demand to earn more interest.
  • All the above benefits come with a Quarterly Average Balance (QAB) requirement of Rs 1 lakh only in CASA or Rs 10 lakh in CASA + Term Deposits.

The Bank has also revamped its bob Premium NRE & NRO Savings Account. This upgraded account comes with a host of benefits designed to provide a premium banking experience including a customised debit card with enhanced transaction limits, complimentary domestic and international lounge access, free safe deposit locker, free Personal and Air Accident Insurance coverage and concessional interest rates on home and auto loans with reduced processing charges.

Bank of Baroda Celebrates Financial Literacy Week, Empowering Women

Chandigarh, 5 March, 2025: Bank of Baroda, one of India’s leading public sector banks, celebrated the 10th edition of the Reserve Bank of India’s (RBI) ‘Financial Literacy Week 2025’ from February 24 to 28, 2025 to promote financial awareness. This year’s theme, “Financial Literacy: Women’s Prosperity” (‘वित्तीय साक्षरता, समृद्ध नारी’), highlights the importance of equipping women with financial knowledge to enhance their economic independence and security.

Bank of Baroda celebrated Financial Literacy Week 2025 across its branches including 2907 rural branches as well as 85 Financial Literacy Centres (FLCs) in 12 states through a range of financial literacy camps and workshops aimed at strengthening financial literacy across communities, reaffirming its commitment to financial inclusion and women’s empowerment.

Speaking on the occasion, Shri Lal Singh, Executive Director, Bank of Baroda said, “Financial literacy is a critical enabler of economic empowerment. At Bank of Baroda, we are committed to ensuring that individuals—particularly women—have the desired knowledge to make informed financial decisions by equipping them with the right tools and resources. During the course of the Financial Literacy Week 2025, we have not only deepened financial awareness but also played a role in fostering long-term financial inclusion and security. We will continue to drive efforts in promoting financial literacy and contribute to a financially resilient society.”

During Financial Literacy Week 2025, Bank of Baroda’s 85 Financial Literacy Centres (FLCs) conducted 364 financial literacy camps, benefiting over 9,500 participants in both rural and urban areas. These interactive sessions covered crucial topics such as financial planning for homemakers, credit access for women entrepreneurs, risk management, cyber security, and government financial schemes.

Tailored workshops for women entrepreneurs were organised to provide insights on MSME financing, government schemes, and strategies for business growth, empowering them to scale their enterprises.

Special workshops, awareness camps, and helpdesks were set up across Bank of Baroda branches to guide women on digital banking, UPI transactions, and financial planning. The Bank also collaborated with Self-Help Groups (SHGs), NGOs, and local authorities to expand the reach of its initiatives.

Further, recognising the power of user-generated content in driving engagement, Bank of Baroda initiated an innovative social media campaign during Financial Literacy Week 2025 by encouraging its employees to act as financial literacy advocates and leveraging their expertise to create user-generated content that resonates with the masses. These authentic insights in the form of videos and reels on financial planning, digital banking, responsible use of credit etc were amplified across the Bank’s official social media channels.

Bank of Baroda Gets ISO 22301:2019 Business Continuity Certification

Mumbai, 24th February, 2025: Bank of Baroda (Bank), one of India’s leading public sector banks, has been awarded the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI) reaffirming that the Bank’s Operational Resilience, Business Continuity Planning and Risk Management capabilities are consistent with global best practices. The ISO 22301:2019 BCMS accreditation recognises the Bank’s ability to maintain robust business continuity practices, ensure uninterrupted services even during unforeseen disruptions and effectively manage risk.

ISO 22301:2019 is an international benchmark for business continuity management, focusing on minimizing operational disruptions and ensuring swift recovery in times of crisis. Achieving this certification enhances Bank of Baroda’s reputation as a resilient organisation that is well-prepared to ensure continuity of services even in the face of unexpected challenges that may arise and serve customers seamlessly.

Speaking on this milestone, Ms. Beena Vaheed, Executive Director, Bank of Baroda said, “As a financial services institution, we place utmost value on the trust and confidence that our customers and other stakeholders have in us. Receiving the prestigious ISO 22301:2019 certification stands as a testament to our commitment to ensuring business continuity in the face of any disruptive events and safeguarding the interests of our stakeholders, further strengthening confidence in Bank of Baroda.”

Founded in 1901, the British Standards Institution (BSI) is the UK’s national standards body and is a leading certification body for management systems and standards. ISO 22301:2019 is recognised as the international benchmark for business continuity management and is being adopted by banks and other financial institutions to ensure operational resilience and continuity of services.

Tata Power & Bank of Baroda MOU to Finance Residential PM Surya Ghar Yojana

Mumbai, 7th February, 2025: Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leader in India’s renewable energy sector, and Bank of Baroda, one of India’s leading public sector banks have signed a Memorandum of Understanding (MoU) for financing of residential rooftop solar power systems. The MoU will facilitate financing options for residential customers under the Pradhan Mantri Surya Ghar Yojana (PMSGY). The collaboration will leverage on the wide branch network and financing capabilities of Bank of Baroda and the market leadership and dealer network of Tata Power Renewable Energy, enabling seamless sourcing and loan processing for customers. This strategic partnership is set to boost the adoption of rooftop solar systems across the country by providing affordable and accessible financing, thereby supporting India’s transition to renewable energy.

By providing access to affordable, hassle-free financing options, Bank of Baroda and Tata Power Renewable Energy will enable Indian households to adopt sustainable energy solutions and contribute to a cleaner, greener future. Under the MoU, applicants can avail loan amounts up to ₹6 lakh at an attractive interest rate starting at 7% p.a., with both fixed and floating rate of interest options available.

Under the PM Surya Ghar Yojana, customers installing residential rooftop solar systems with capacities of up to 3 kW can avail loans up to ₹2 lakh with no income documentation required. The scheme requires only a 10% margin contribution and offers an attractive interest rate of 7% p.a. The loans are collateral-free and come with a flexible repayment tenure of up to 10 years, making solar installations affordable for households.

For larger installations ranging from above 3 kW and up to 10 kW, customers can avail loans of up to ₹6 lakh under the regular scheme. These loans require a margin money contribution of 20%. Bank of Baroda’s Home Loan customers will enjoy special concessional interest rates ranging from 9.15% to 11% p.a. For non-Home Loan customers, interest rates will range from 10.15% to 12% p.a. The loans are collateral-free with a maximum repayment tenure of up to 10 years.

Under the Pradhan Mantri Surya Ghar Yojana, residential consumers installing rooftop solar systems are eligible for government subsidies, significantly reducing the upfront cost of installation. For solar systems up to 2 kW, customers can avail a subsidy covering up to 60% of the benchmark cost, while for systems between 2 kW and 3 kW, the subsidy covers 40% of the benchmark cost. Installations above 3 kW receive a fixed subsidy for the first 3 kW, with additional capacity receiving support as per scheme guidelines. These subsidies, combined with affordable financing options, make rooftop solar more accessible, helping households lower electricity bills while contributing to India’s clean energy transition.

Mr. Deepesh Nanda, CEO & Managing Director, TPREL said, “This strategic collaboration with Bank of Baroda marks a significant step forward in our mission to make clean energy solutions accessible to every household in India. By offering affordable and convenient financing options, we are enabling residential customers to embrace rooftop solar technology with ease. This initiative not only empowers individuals to reduce their energy costs but also contributes meaningfully to the nation’s renewable energy goals and efforts to combat climate change. Together, we are fostering a sustainable future, one home at a time.”

Shri Lalit Tyagi, Executive Director, Bank of Baroda said, “India’s renewable energy capacity has crossed 200 GW, with solar energy accounting for almost 100 GW. This significant growth is driven by robust policy support, enhanced competitiveness, and rising investor confidence. At Bank of Baroda, we are strongly committed to expand our engagement in the renewable energy sector, in line with the government’s vision to maximise power generation through sustainable sources. We are pleased to further strengthen our partnership with Tata Power Renewable, a key leader in India’s renewable energy landscape.”

TPREL, recognised as India’s No. 1 solar rooftop company, leads the market with over 100,000 satisfied customers. The total renewables capacity of TPREL reached 10.9 GW (PPA capacity is 8.9 GW) including 5.5 GW projects under various stages of implementation and its operational capacity is 5.4 GW, which includes 4.4 GW solar and 1 GW wind.

Tata Power and Bank of Baroda MOU to Boost PM Surya Ghar Yojana Financing

Mumbai, 6th February, 2025: Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leader in India’s renewable energy sector, and Bank of Baroda, one of India’s leading public sector banks have signed a Memorandum of Understanding (MoU) for financing of residential rooftop solar power systems. The MoU will facilitate financing options for residential customers under the Pradhan Mantri Surya Ghar Yojana (PMSGY). The collaboration will leverage on the wide branch network and financing capabilities of Bank of Baroda and the market leadership and dealer network of Tata Power Renewable Energy, enabling seamless sourcing and loan processing for customers. This strategic partnership is set to boost the adoption of rooftop solar systems across the country by providing affordable and accessible financing, thereby supporting India’s transition to renewable energy.

By providing access to affordable, hassle-free financing options, Bank of Baroda and Tata Power Renewable Energy will enable Indian households to adopt sustainable energy solutions and contribute to a cleaner, greener future. Under the MoU, applicants can avail loan amounts up to ₹6 lakh at an attractive interest rate starting at 7% p.a., with both fixed and floating rate of interest options available.

Under the PM Surya Ghar Yojana, customers installing residential rooftop solar systems with capacities of up to 3 kW can avail loans up to ₹2 lakh with no income documentation required. The scheme requires only a 10% margin contribution and offers an attractive interest rate of 7% p.a. The loans are collateral-free and come with a flexible repayment tenure of up to 10 years, making solar installations affordable for households.

For larger installations ranging from above 3 kW and up to 10 kW, customers can avail loans of up to ₹6 lakh under the regular scheme. These loans require a margin money contribution of 20%. Bank of Baroda’s Home Loan customers will enjoy special concessional interest rates ranging from 9.15% to 11% p.a. For non-Home Loan customers, interest rates will range from 10.15% to 12% p.a. The loans are collateral-free with a maximum repayment tenure of up to 10 years.

Under the Pradhan Mantri Surya Ghar Yojana, residential consumers installing rooftop solar systems are eligible for government subsidies, significantly reducing the upfront cost of installation. For solar systems up to 2 kW, customers can avail a subsidy covering up to 60% of the benchmark cost, while for systems between 2 kW and 3 kW, the subsidy covers 40% of the benchmark cost. Installations above 3 kW receive a fixed subsidy for the first 3 kW, with additional capacity receiving support as per scheme guidelines. These subsidies, combined with affordable financing options, make rooftop solar more accessible, helping households lower electricity bills while contributing to India’s clean energy transition.

Mr. Deepesh Nanda, CEO & Managing Director, TPREL said, “This strategic collaboration with Bank of Baroda marks a significant step forward in our mission to make clean energy solutions accessible to every household in India. By offering affordable and convenient financing options, we are enabling residential customers to embrace rooftop solar technology with ease. This initiative not only empowers individuals to reduce their energy costs but also contributes meaningfully to the nation’s renewable energy goals and efforts to combat climate change. Together, we are fostering a sustainable future, one home at a time.”

Shri Lalit Tyagi, Executive Director, Bank of Baroda said, “India’s renewable energy capacity has crossed 200 GW, with solar energy accounting for almost 100 GW. This significant growth is driven by robust policy support, enhanced competitiveness, and rising investor confidence. At Bank of Baroda, we are strongly committed to expand our engagement in the renewable energy sector, in line with the government’s vision to maximise power generation through sustainable sources. We are pleased to further strengthen our partnership with Tata Power Renewable, a key leader in India’s renewable energy landscape.”

TPREL, recognised as India’s No. 1 solar rooftop company, leads the market with over 100,000 satisfied customers. The total renewables capacity of TPREL reached 10.9 GW (PPA capacity is 8.9 GW) including 5.5 GW projects under various stages of implementation and its operational capacity is 5.4 GW, which includes 4.4 GW solar and 1 GW wind.