Mumbai, July 21: Bank of Baroda, one of India’s leading public sector banks, observed its 119th Foundation Day by reaffirming its commitment to trust, innovation and sustainable growth. The theme for the Bank‘s 119th year, ‘Leading with Trust’, reflects its vision to lead with integrity, innovation and inclusion, while ensuring that trust remains the foundation of every customer relationship and the cornerstone of its future growth. To mark the occasion, the Bank unveiled a comprehensive suite of initiatives spanning Technology & Digital Innovation, Retail & MSME Banking, Sustainable Finance and Financial Inclusion.
Sachin Tendulkar, Bank of Baroda‘s Global Brand Ambassador and the Guest of Honour at the Foundation Day celebrations, unveiled the new bob World – the Bank‘s mobile banking platform, reimagined to deliver a more intelligent, intuitive, secure and hyper-personalised banking experience. The Bank also inaugurated AAROHAN GCIC – its Global Capability, Innovation & Transformation Centre, a strategic hub for technology, research, digital transformation and innovation that will accelerate the Bank‘s technology-led transformation and develop future-ready banking solutions. The Bank also unveiled ADITI 2.0, its Intelligent Virtual Front Office, bringing multilingual, voice-enabled conversational banking to customers through natural interactions.
Among the other key product launches were the bob Elev8 Home Loan, the bob Green PLUG lending scheme for financing EV charging stations & battery-swapping infrastructure, and the bob Agniveer MSME financing scheme, along with several other initiatives. Reinforcing its commitment to Financial Inclusion, the Bank also inaugurated 119 new Business Correspondent (BC) outlets across the country, expanding access to banking services in rural and underserved areas.
Speaking on the occasion, Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “The theme for our 119th Foundation Day, ‘Leading with Trust’, reflects the values that have guided Bank of Baroda for well over a century. As we continue our journey of consistent and responsible growth, we remain focused on strengthening customer trust, driving innovation, advancing sustainability and creating long-term value for all our stakeholders. Trust will continue to be the foundation on which we build our future.”
Key Initiatives and Product Launches
I. Technology & Digital
- AAROHAN GCIC: Bank of Baroda inaugurated AAROHAN GCIC – its Global Capability Innovation & Transformation Centre. Conceived as a strategic hub for technology, research, digital transformation, and innovation, the Centre will bring together talent, emerging technologies, and collaborative thinking to develop and scale future-ready banking solutions. AAROHAN GCIC will leverage the Bank’s Capability Maturity Model Integration (CMMI) Level 3-appraised development and service practices to strengthen delivery discipline, quality, and institutional capability. The Centre will accelerate enterprise-wide transformation and foster a culture of innovation aligned with the Bank’s vision of shaping the future of financial services.
- Reimagined bob World: Bank of Baroda unveiled the new app, built on a modern, scalable digital architecture. Designed around the evolving needs of customers, the platform delivers a smarter, more intuitive and secure banking experience with AI-powered capabilities, hyper-personalised experiences, conversational banking, multilingual accessibility, enhanced security through advanced authentication and fraud protection features and an integrated bouquet of offerings. It also introduces Personal Finance Management, enabling customers to gain a comprehensive view of their finances, track spending patterns and plan their financial goals. To ensure a seamless transition, customer onboarding to the new app will be undertaken in a phased manner.
- ADITI 2.0: Bank of Baroda unveiled ADITI 2.0, its Intelligent Virtual Front Office, representing the next evolution of its AI-powered Virtual Relationship Manager. Powered by an advanced multilingual, voice-enabled conversational AI engine, ADITI 2.0 enables customers to interact with the Bank through natural conversations in their preferred language. Beyond helping customers discover products and services, it also empowers them to independently complete a wide range of banking transactions through an intuitive conversational interface. ADITI 2.0 delivers personalised, contextual and always-available assistance, enhancing customer engagement by making it more inclusive, accessible and convenient.
- UPI Global – Enabling International QR Payments: Bank of Baroda has introduced UPI Global Reverse Acceptance, enabling international tourists, overseas Indians and foreign wallet users from eligible countries to make seamless payments at Bank of Baroda UPI QR merchants across India using their home-country banking or fintech apps. This initiative enhances payment convenience for international visitors, creates new business opportunities for merchants and reinforces the Bank‘s commitment to innovation and strengthening the digital payments ecosystem.
- ATM NFC-based Tap & Transact: As part of its digital transformation initiatives, Bank of Baroda is enabling NFC functionality on its newly installed ATMs and Cash Recycler Machines (CRMs), making it the first bank in the industry to introduce this capability. Once implemented, customers will be able to complete ATM transactions by simply tapping their NFC-enabled debit card on the machine’s reader, eliminating the need to insert the card. This contactless functionality will offer customers faster, more convenient and secure transactions.
II. Retail Lending
- bob Elev8 Home Loan: Bank of Baroda has introduced the bob Elev8 Home Loan, a specialised home loan scheme for young salaried professionals. Recognising the future earning potential of young professionals, the scheme addresses the affordability gap between current income and rising property prices through a structured step-up EMI repayment mechanism, enabling customers to access higher loan eligibility while progressively aligning repayments with their expected growth in income over time.
- bob Swabhoomi Home Loan for Residential Plots from Private Builders: Bank of Baroda has introduced bob Swabhoomi, a dedicated home loan scheme for customers looking to purchase residential plots from private builders and developers. Applicable only to RERA-approved projects, the scheme offers customers a structured financing solution with flexible repayment options and stage-wise disbursements linked to project progress.
- bob PAL (Portfolio-backed Approved Limit): Bank of Baroda has introduced bob PAL, a digitally-enabled overdraft facility against eligible securities, offering customers funding of up to ₹5 crore. Available against shares, mutual funds, bonds, debentures and Sovereign Gold Bonds, the facility enables customers to quickly access funds for short-term personal or business requirements while allowing them to retain their investment portfolio and continue to enjoy dividend and bonus benefits.
III. MSME and Supply Chain Finance
- bob Agniveer Scheme: Bank of Baroda has introduced the bob Agniveer Scheme, a MSME financing programme for retired Agniveers under the Agnipath Scheme. The scheme extends need-based credit of up to ₹5 crore for setting up new enterprises, expanding existing businesses, or meeting working capital needs. With attractive concessions, backed by CGTMSE/NCGTC support and simplified collateral norms, the scheme seeks to empower ex-Agniveers through entrepreneurship, while contributing to employment generation and strengthening the MSME ecosystem.
- Corporate Invoice Financing: Strengthening its Supply Chain Finance offerings, Bank of Baroda has launched Corporate Invoice Financing for MSMEs with an annual turnover of up to ₹500 crore, providing faster access to working capital. The solution enables anchor corporates to offer their suppliers and vendors access to invoice-based financing, improving liquidity, optimising working capital and ensuring timely payments across the supply chain. The initiative supports stronger business partnerships while enhancing access to finance for MSMEs.
IV. Green Financing
- bob Green PLUG – Financing India’s EV Infrastructure: Bank of Baroda has launched bob Green PLUG, an MSME lending scheme to finance the establishment and expansion of EV charging stations, battery swapping infrastructure and allied facilities across the country. The scheme also supports renewable energy-integrated charging infrastructure, including rooftop solar-powered charging stations. With financing of up to ₹5 crore, bob Green PLUG supports India’s growing EV ecosystem, promotes sustainable mobility and reinforces the Bank‘s commitment to sustainable finance.
V. Business Banking
- Masterstroke Current Account: Bank of Baroda is introducing the Masterstroke Current Account, a premium current account for businesses that offers enhanced banking and transaction capabilities, including free cash deposits of up to ₹1 crore per day, complimentary Soundbox QR and POS solutions, collateral-free overdraft facilities of up to ₹2 crore through bob Digi Udyam, Personal Accident Insurance cover of up to ₹2 crore for the key business person, a premium debit card with exclusive benefits including domestic and international lounge access, and preferential pricing on select banking products and services, making it a comprehensive banking solution for growing businesses.
VI. Financial Inclusion
- 119 Business Correspondent (BC) Outlets: To mark its 119th Foundation Day, Bank of Baroda inaugurated 119 new Business Correspondent (BC) Outlets across the country, further strengthening its financial inclusion network. The new BC Outlets will expand access to essential banking services in rural, remote, unbanked and underbanked areas, reinforcing the Bank‘s commitment to inclusive banking and supporting the Government’s vision of inclusive growth.
- Multilingual WhatsApp Banking for PMJDY Customers: As part of its commitment to digital financial inclusion, Bank of Baroda launched Multilingual WhatsApp Banking for Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. This initiative will enable customers, particularly those residing in rural, semi-urban, unbanked and underbanked areas, to conveniently access banking services through WhatsApp in their preferred regional language, thereby enhancing accessibility and customer experience.
Commemorating its 119th Foundation Day, Bank of Baroda also launched a pan-India tree plantation initiative through its Zonal and Regional Offices, reaffirming its commitment to environmental sustainability and greener communities.
