Workforce Planning and Management in Bank of Baroda-Dissertation Writing Help
Case Study on Workforce Planning and Management in Bank of Baroda
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Bank of Baroda is the fifth largest bank in India with total assets in excess of Rs. 1.80 Lakh crores or Rs. 1,800 billion, a network of over 2899 branches and offices and about 1100+ ATMs. Bank of Baroda offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, credit cards and asset management. Maharajah of Baroda Sir Sayajirao Gaekwad III founded the bank on July 20, 1908 in the princely state of Baroda, in Gujarat with an initial capital of Rs 10 Lakhs. The bank, along with 13 other major commercial banks of India, was nationalised on 19 July 1969, by the Government of India. BOB is a leading 100 years old PSB in India with modern and contemporary personality, offering banking products and services to industrial and commercial, retail and agricultural customers across the country.
• The Banking industry is very competitive and the ability of banks to grow depends on their ability to compete effectively.
• Banking in India is a heavily regulated industry and material changes in the regulations could adversely affect Banks business.
• Exchange rate fluctuations may have an impact on banks financial performance.
• A slowdown in economic growth in India could cause banks business to suffer.
• The introduction of technology in banking operations has also imposed greater responsibility to protect against various information security threats and to ensure wider assurance of safeguard of the interest of customers.
• Implementation of Basel II requires higher capital.
The Banking sector is gearing itself to support growth. Competition, consolidation and convergence will transform banking. Technology will be the key and drive the change. Banks strengthening capital base, risk management and skills. Banks outsourcing norms introduced by Reserve bank of India. With the economic growth picking up pace and the investment cycle on the way to recovery, the banking sector has witnessed a transformation in its vital role of intermediating between the demand and supply of funds. The revived credit off take (both from the food and non food segments) and structural reforms have paved the way for a change in the dynamics of the sector itself. Besides gearing up for the compliance with Basel II accord, the sector is also looking forward to consolidation and investments on the FDI front. Public sector banks have been very proactive in their restructuring initiatives be it in technology implementation or pruning their loss assets. Windfall treasury gains made in the falling interest rate regime were used for writing off the doubtful and loss assets. Incremental provisioning made for asset slippages have safeguarded the banks from witnessing a sudden impact on their bottom lines.
Retail lending (especially mortgage financing) formed a significant portion of the portfolio for most banks and the entities customized their products to cater to the diverse demands. With better penetration in the semi urban and rural areas the banks garnered a higher proportion of low cost deposits thereby economizing on the cost of funds. Apart from streamlining their processes through technology initiatives such as ATMs, telephone banking, online banking and web based products, banks also resorted to cross selling of financial products such as credit cards, mutual funds and insurance policies to augment their fee based income.
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