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SEPTEMBER-2021 EDITION
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BARODA APEX ACADEMY

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GANDHINAGAR
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Baroda Gurukul > Social Learning > Digital Library > News Flash Folder
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Baroda Gurukul > Social Learning > Digital Library > Audio Library Folder
 Important Information

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For the convenience of users of ‘Monthly Gist of Circulars’, we

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have decided to also include the direct link of said circulars for

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‘Barodapedia’ Users (HO and BCC). Please take note of
following icons you will come across when reading the

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circulars below:

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Can be used only on Finacle PC
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Can be used on Smart Phone with

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Barodapedia Application
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Can be used on all PC and Mobile (with or

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without Barodapedia Application)

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Click the Icons to access the circulars

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Internet connectivity is must for ever functionality above.

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Prepared by Research Team, Baroda Apex Academy Page 1 of 22

 MONTHLY GIST OF CIRCULARS SEPTEMBER
2021

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HO Circulars
HO:BR:113:165 DATED 24.09.2021 - ( Click the Icons to access full circular)

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SCHOLARSHIP FOR THE CHILDREN OF THE AWARD STAFF MEMBERS BELONGING TO SC &

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ST CATEGORY FROM THE FUND OF BHARAT RATNA DR. BABASAHEB AMBEDKAR

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MEMORIAL TRUST - 2020-21
Bank has constituted a Trust namely Bharat Ratna Dr. Babasaheb Ambedkar Memorial Trust with
a view to conduct welfare activities for the Employees belonging to SC/ST Caterory in our Bank.

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Under the Aegis of this Trust a scheme for sanctioning Scholarships to Sons/ Daughters of SC/ ST

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Award staff Members has been formulated. Our Bank has now informed that a new scheme has

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been introduced for extending an additional reward to the TOP most student who has passed STD
10 from amongst all applicants, for continuing his/her further higher education. The amount of

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reward will be Rs. 5000/- each student per zone.

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HO:BR:113:202 DATED 04.09.2021

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PAYMENT OF BONUS FOR THE ACCOUNTING YEAR 2020-21.

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Our Bank has informed that our Bank has decided to pay Bonus @ 8.33% to eligible
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employees/job-workers, in terms of Payment of Bonus Act, 1965, for the year 2020-21. All
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employees/ Job-Workers who have worked for not less than -30- working days during the
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Accounting Year 2020-21 and whose salary/wage as defined in the Payment of Bonus Act, 1965
and Payment of Bonus (Amendment) Act, 2015 does not exceed ~.21,000/- p.m. are eligible for
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payment of Bonus. However, the ceiling of the salary/wage, for calculation of Bonus, shall be Rs.
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7000/- p.m.
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HO:BR:113:209 DATED 01.09.2021

Master Circular - Measures for fraud preventions – I Inter-SOL transactions II Other measures
Our Bank has observed that frauds through payment of fake cheques on Inter-sol transactions,
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through fake cheques presented for transfer of funds through RTGS and by changing of mobile
numbers in accounts are on rise. To avoid such events and to guide field functionaries, our Bank
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has shared updated guidelines in form of Master Circular on Measures for fraud preventions – for
Inter-SOL transactions and Other measures.
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HO:BR:113:211 DATED 02.09.2021

REVIEW OF INCENTIVE AND OTHER MEASURES TO ENHANCE DISTRIBUTION OF COINS
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Our Bank has shared RBI master direction on the review of incentive and other measures to
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enhance distribution of coins. All Currency Chests/ Link Offices/Branches are advice to ensure
strict compliance of the guidelines.
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HO:BR:113:213 DATED 03.09.2021

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Online/Offline cancellation of NACH Mandates.

Our Bank has decided to fix a Turnaround time or TAT for cancellation of all types of NACH
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mandates received from customers, both Inward & Outward. TAT for the base Branches will be T
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+1 business days. Branches will have to endorse or forward the request to the NACH, Cell, Mumbai
on nach.serbom@bankofbaroda.com .TAT for the NACH Cell for processing of cancellation/
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invocation will be T +1 business days including the day of receiving of request from the Branch.
In view of the possibility of multiple mandates in one account, the branches should be careful to
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record the withdrawal of the correct mandate.

HO:BR:113:214 DATED 07.09.2021

OPENING OF ACCOUNTS FOR NRIs - PROOF OF ADDRESS

Prepared by Research Team, Baroda Apex Academy Page 2 of 22

 Our Bank has been receiving queries from operating unit with regard to obtaining Address Proof
from the list of documents while opening of an account of NRI as many times none of the
documents are available with the NRls. ln view of existing RBI guidelines, our Bank has shared
the list of Official Valid Documents (OVDs) for address proof to be obtained while opening of

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accounts for NRls.

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OFFICIAL VALID DOCUMENTS (OVDs) OF CURRENT ADDRESS (Any One)
i. Passport

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ii. Driving License
iii. Proof of possession of Aadhaar number

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iv. Voters ID Card issued by Election Commission of India

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v. Job card issued by NREGA duly signed by an officer of the State Government
vi. Letter issued by the National Population Register containing details of name and address

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In addition to above, following documents establishing Overseas address should also be obtained.

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OVERSEAS PROOF OF ADDRESS (Any One)

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i. Passport
ii. Driving License

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iii. Government issued National ID having address at country of Residence iv. Utility Bill

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(Electricity, Water, Gas, Telephone, Post-paid Mobile) - Not more than 2 months old v. Registered

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Tenancy / Rent / Lease Agreement D
vi. Property or Municipal Tax Receipt
vii. Letter of allotment of accommodation from employer issued by State Government or Central
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Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled
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commercial banks, financial institutions and listed companies and leave and license agreements
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with such employers allotting official accommodation;

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viii. Original latest overseas bank account statement carrying overseas address -Not more than 2
months old ix. Employer's Certificate confirming Overseas address.
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In case of OVDs presented by OCI/PIO does not contain details of Address, in such cases letter
issued by foreign embassy / mission in India or OCI / PIO Card having overseas address may be
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accepted along with OVDs. Further branches to obtain copy of documents to ascertain the status
of NRI as per Bank's extant guidelines along with PAN/Form 60. Branches may also obtain
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preferred address of correspondence from Customer out of above addresses.

HO:BR:113:215 DATED 08.09.2021

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MENU "SCVM" FOR MAINTAINING RECORDS OF ASSETS UNDER SAFE CUSTODY.

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Our Bank is accepting various securities from customer for keeping in safe custody such as
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Bank's Term deposit, Share certificate, Other Documents, Sealed Boxes/Sealed covers etc. and
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Branches are maintaining record of assets kept under safe custody in the form of register. But
there is no uniformity in maintaining such records.
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Accordingly, our Bank had advised to enter records of assets kept under safe custody by
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customers in menu SCVM developed for this purpose. However, it is observed that except few
branches, no branch has entered the records of safe custody in this menu. Our Bank has once
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again advised all branches to enter records of assets kept under safe custody in this menu. Bank
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has also shared Detailed job card for the same.

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HO:BR:113:216 DATED 09.09.2021

BE VIGILANT/CAREFUL AT WORKPLACE- MISUSE OF USER-IDS AND PASSWORDS IN
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ORGANIZATIONS -- PREVENTIVE VIGILANCE MEASURES

In view of the recent surge in the staff related frauds, Our Bank has once again reiterated the
guidelines for preventive vigilance measures at workplace as under:
 Password should be changed periodically by officers/employees as an important
preventive vigilance measure.
Prepared by Research Team, Baroda Apex Academy Page 3 of 22
  Secrecy of user-id and password should be maintained.
 Password should be disabled on account of employee's transfer/ retirement/suspension
and during long leave, training or deputation.
 Password should be created in Strong manner comprising alpha, numeric & special

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character and avoid creation of common easily accessible password e.g. Abcdefg, 123456

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and welcome 123 etc.

HO:BR:113:217 DATED 09.09.2021

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DISCONTINUATION OF NACH (ECS DEBIT) MANDATES SUBMITTED BY THE CUSTOMERS
WITHOLD MICR CODE AND/OR ACCOUNT NUMBER OF EVB, EDB.

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Our Bank has requested all branches to sensitize their customers to submit such new mandates

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(including e-mandate) to other Banks/FIs with new MICR code and account number of the
amalgamated entity (BOB) only as old MICR codes of eVB and eDB will be rejected by the central

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server of the NPCI. A suitable information in this regard should be displayed at prominent places
at Branches, ATM, e-Lobby's etc.

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HO:BR:113:222 DATED 13.09.2021

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ISSUES RELATING TO BIOMETRIC LOGIN AND BYPASS OF THE SAME
Our Bank has shared guidelines regarding Biometric login and bypass for accessing Finacle. Only

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in special cases, biometric login can be bypassed with due recommendation of Branch/Region at

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Zone subject to obtaining undertaking that the user shall not share password to anybody and any

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transactions done with their password he/she will be solely responsible for the same. Bank has
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shared set of users that may be exempted and the conditions thereon.
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HO:BR:113:228 DATED 24.09.2021
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INSTANCES OF VIOLATION OF KYC COMPLIANCE GUIDELINES

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Our Bank has informed that despite issuance of various KYC-AML Guidelines through Policies
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and circulars and emphasizing the need of strict adherence of KYC-AML Standards from time to
time, gross violation of KYC guidelines was observed during recently concluded special audit in
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some of the branches.

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Bank has therefore reiterated that all the branches/offices to strictly adhere with directions issued
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by the Bank on KYC-AML standards including but not limited to obtaining OVD at the time of
customer onboarding/Re-KYC, Updation of PAN/Form 60, Identification of Beneficial Owner,
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Customer Due Diligence (including enhanced due diligence in case of high risk customers
advised vide Circular No. HO:BR:113:37 dated 12.02.2021), enrichment of critical data fields,
Allotment of Unique Customer ID, Activation of Dormant account, Inter-branch transferring of
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accounts etc. Branches/offices are also advised not to take shortcut route manoeuvring the
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system/process without ensuring KYC guidelines for opening of an account. Any such instances
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shall be dealt strictly.

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HO:BR:113:229 DATED 28.09.2021

REVISED GUIDELINES (SOP) ON HANDLING AND RECONCILIATION OF ORIGINAL CHEQUES,
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RECEIVED BY BRANCHES AND OUTWARD SCANNING HUBS TO AVOID THEIR LOSS/

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MISPLACEMENT.
Our Bank has observed that despite clear guidelines, record of physical cheques which are
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pending for lodgement, post-dated cheques, returned by Outward hub etc. are not being
maintained properly by branches/Outward Scanning Hubs, which ultimately results into non-
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reconciliation of outward cheques received for collection. It is leading to customer complaints

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including claims of interest/ penalties by regulators on delayed collection, misplacement of

cheques, pending for scanning and/or delay in handing over the returned cheque etc.
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To avoid such recurrences, a comprehensive SOP on handling and reconciliation of Outward

cheques received for collection at Branches/Outward scanning Hubs is being provided with this
circular. In this SOP, entire process of lodgement of Outward cheques and generation of important
reports in CTS application is also elaborated. Further, w.e.f. 01.10.2021, all the successfully

Prepared by Research Team, Baroda Apex Academy Page 4 of 22

 collected physical cheques will remain with the Outward Scanning Hub/Branch for onward
delivery to the Central Retard Keeping agency under Record Digitization Program on periodic
basis. Branches have to avoid accepting such processed cheques from outward hubs.

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HO:BR:113:230 DATED 30.09.2021

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HEALTH CHECK-UP FACILITY FOR EX-EMPLOYEES THROUGH ARCOFEMI HEALTH CARE
LTD. ('MEDIWHEEL') W.E.F. 01.10.2021.
Our bank has informed that M/s Arcofemi Health Care Ltd., Annual Health Check-up service
provider will also provide the health check-up facility to the Bank's ex-employees and their

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spouses at the cost equal to that of existing employees for health check-up packages. Further, the

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service provider has also offered a bouquet of additional packages which include health check-

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up packages with complete 'home sample collection' facility to examine the general health and
well-being. This facility will be effective from 01.10.2021. The complete details of the above

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packages including the number and types of tests covered, home sampling availability, etc. are
detailed in annexure to the said circular.

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HO:BR:113:232 DATED 30.09.2021 -
OBTAINING PERIODICAL BALANCE CONFIRMATION OF OPERATIVE ACCOUNTS OF

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GOVERNMENT

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As per existing procedures, Branches should arrange to deliver the statement of account copy to

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Government Department against clear acknowledgement at regular intervals. However, our Bank

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has observed that there is surge in cheque related frauds in government accounts in our bank.
Though our bank has laid down guidelines for the prevention of Frauds, but due to non-adherence
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of stipulated guidelines and casual approach by the staff, frauds are being perpetrated which
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cause financial and reputational loss to the bank. Further, Bank has decided to obtain periodical
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balance confirmation of operative accounts of Government at quarterly interval. All the Branches
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having Government accounts are required to send the balance confirmation certificate on
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quarterly basis. Branches must obtain the confirmation within the 15° day of succeeding month
of every quarter.
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Prepared by Research Team, Baroda Apex Academy Page 5 of 22

 BCC Circulars
BCC:BR:113:517 DATED 01.09.2021 ( Click the Icons to access full circular)
CALCULATION OF RAROC IN EXPORT CREDIT FACILITIES.

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Our Bank has obtained Whole Turnover (WT) Policies from ECGC Ltd. in respect of our Pre

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shipment (WT-PC) and Post Shipment (WT-PS) export credit portfolio. Under the Whole turnover
covers, ECGC Ltd. provides a certain percentage of cover in the event of default committed by the
Borrower/Overseas Buyer. The export credit guaranteed by ECGC Ltd. carries a reduced Risk

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Weight of 20% for RAROC and capital computation purpose. This enables the Bank to save on the

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capital cost, and to offer better pricing on export credit facilities to its Borrowers.

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The Asset Liability Committee had directed to ensure that the RAROC is above the hurdle rate in
all Export Credit Facilities. In order to comply with the above ALCO directions on RAROC and to

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arrive RAROC correctly, Branches are advised to strictly adhere to the following directions for
calculating RAROC on export credit facilities:

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 Export credit facilities are of short-term nature. Therefore, Branches should choose the short-

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term rating of the appropriate external credit-rating agency, from the drop down provided in

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the RAROC template (Rows 33 & 34)
 In cases where the Borrower is not rated for Short term facilities, Branches should refer to the

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mapping of long term rating with short term rating, as provided by Risk Management

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Department BCC vide circular BCC:BR:113/316 dated 07 th June 2021. Accordingly, Branches
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should choose the appropriate short term rating from the drop down menu (Row 34).
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 The Whole turnover covers provided by ECGC Ltd. comes with a minimum percentage of
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Cover of 50% in the event of default. Therefore Branches should note to mention 50% of the
Export credit facility (in absolute amount) in “Credit Guarantee” (Row 30) in all accounts
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which are eligible under the Whole turnover covers. For e.g. If the Borrower enjoys Packing
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credit facility of Rs.100 Crs from the Bank, Branch should mention Rs.50 Crs (50% of Rs.100
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Crs) in row 30 of the RAROC template.


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ECGC guaranteed accounts carry as Risk weight of 20%. In the “Guarantor” row of the RAROC
template, ECGC, as a guarantor, is now available in the drop down menu. Branches should
invariably choose guarantor as “ECGC” in Row 37 and 38 of the RAROC template
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BCC:BR:113:522 DATED 01.09.2021

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RETAIL LOAN – BARODA MORTGAGE LOAN MASTER CIRCULAR

Our Bank has consolidated all circulars/clarifications and guidelines issued from the date of
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issuance of last master circular dated 21 .02.2019 up to 30.06.2021 related to Baroda Mortgage
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Loan and shared the same for operational convenience of the field functionaries.
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BCC:BR:113:523 DATED 13.09.2021

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INDIAFIRST LIFE GROUP LOAN PROTECT PLAN (GLPP) FOR BARODA AUTO LOAN
BORROWERS
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IndiaFirst Life Insurance Company Limited had launched "Group Loan Protect Plan" for our
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existing and new Retail loan Borrowers to secure Bank finance in case of any untoward incident
happened to the borrower resulting in his untimely demise making it difficult for the family
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members to clear the dues. Our Bank has observed that many of the existing borrowers are not
covered under the Group Credit Life (GCLI) Plan nor ever approached for credit life coverage. In
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view of the current COVID pandemic and other natural & un-natural calamities, as a result of
which many persons across the country lost their lives and our portfolio is at Risk. Bank has
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therefore requested all the branches to popularize the above plan among the existing as well as
new borrowers by providing a list of benefits of GLPP plan.
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This year target for GCLI penetration is 70% and looking to the target and its benefits for Bank
and borrowers, Branches are advised to ensure that maximum borrowers under Auto Loans are
covered under GCLI / GLPP by the end of the current quarter.

Prepared by Research Team, Baroda Apex Academy Page 6 of 22

 BCC:BR:113:524 DATED 02.09.2021
MODIFICATION IN PREPAYMENT CHARGES
Our Bank has approved modification in the prepayment charges for all Corporate, MSME &

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Priority Sector Advances (Other than accounts governed under BCSBI Guidelines) as under:

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Please note, no Prepayment penalty to be levied in cases where pre-payment is effected at the
instance of the Bank and Scheme Specific Prepayment charges, if any, shall continue as per

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approved scheme.

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BCC:BR:113:525 DATED 02.09.2021
PREVENTIVE VIGILANCE- MODUS OPERANDI OF RECENT FRAUDS IN AGRICULTURE
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LOANS: PRECAUTIONS AND SAFEGUARDS TO BE FOLLOWED FOR AVOIDING RECURRENCE.
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Our Bank has been circulating the Modus Operandi of various frauds perpetrated in our Branches
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to make everyone aware and more vigilant in day to day operations so that branches may take
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added precautions and prevent recurrence of such incidents. In the extant circulars modus
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operandi of frauds related to agricultural loans have been shared.

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Branch Officials are advised to scrupulously observe the laid down guidelines to avoid such frauds
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and be guided with our Master Circulars regarding BKCC viz. observing KYC guidelines, carrying
pre and post-sanction inspection, verifying land records from revenue authorities/online
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invariably wherever available and for initiating timely recovery measures etc.
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BCC:BR:113:526 DATED 02.09.2021

DEPOSIT POLICY 2020-23
Our Bank has reviewed and shared the Deposit Policy 2020-23 taking into consideration the
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recent regulatory changes. The policy can be accessed at the following path:
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http://intranet.bankofbaroda.co.in > Documents > Publication > Deposit Policy 20-23.

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All concerned are requested to be guided by the revised policy provisions in the Deposit Policy
2020-23 related matters.
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BCC:BR:113:527 DATED 01.09.2021

MODIFICATION IN STANDARD OPERATING PROCEDURE REGARDING LITIGATIONS FILED
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AGAINST THE BANK

Our Bank has shared revision/modification made in Standard Operating Procedure to followed for
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confrontation with Litigations filed against the Bank (BCC:BR:113:202 dated 08.04.2021). The
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modification is as under:
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Prepared by Research Team, Baroda Apex Academy Page 7 of 22

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BCC:BR:113:529 DATED 02.09.2021

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EXPOSURE ON SRI LANKA – ADVISORY

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Our Bank has invited attention towards media reports from India Today and Times of India in
respect of Sri Lanka. As per the reports, Government of Sri Lanka, on 31 st August 2021, declared

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a state of emergency over food shortages in the country as private Banks ran out of foreign

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exchange to finance imports. Our Bank has therefore advised to avoid any fresh exposure on the

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country and Sri Lankan based Banks and existing exposure to be monitored prudently.

BCC:BR:113:530 DATED 02.09.2021

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SOP FOR CATEGORIZATION/ DE-CATEGORIZATION OF BRANCH AS “AUTHORIZED DEALER”
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(B CATEGORY).
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Authorized Dealer Branch (B Category Branch) is a Branch which is authorized to deal in Forex
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Business. In our Bank, Head, Trade & Forex is the competent authority to designate/de-designate
a Branch as B Category Branch. Regions / Zones can identify branches for such designation, based
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upon the forex business potential available in the area, and send their recommendations to Trade
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& Forex vertical.

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Where a branch is designated, nearby C-Category branches are linked to such branch for doing
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forex transactions. Similarly, where a branch is de-designated, such linkage is transferred to

another AD branch. Hence it is necessary, that certain preparatory steps are taken to ensure that
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designation / de-designation happens in a seamless manner, without affecting customer service

in any way.
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With a view to provide operational clarity to the branches in this regard, our Bank has shared SOP
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to facilitate smoother transition of a Branch from C-Category to B Category or vice versa.

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BCC:BR:113:531 DATED 03.09.2021

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LFAR - COMMON IRREGULARITIES OBSERVED BY STATUTORY AUDITORS.

Our Bank has shared most recurring adverse comments made by statutory auditor’s in LFAR as
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under:
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 Timely renewal of the limit is not carried out and regular review process should be initiated
and completed prior to the due date of review. In any case, regular review should be carried
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out within - 180- days from the due date of last regular review without fail.
 Stock statements are not being obtained in time/not available on record and in some cases
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penalty interest is not levied for not submitting stock statements regularly.
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 Drawing power calculation is not done property also updated in system after deducting
sundry creditors, old and non-moving stocks and advance value received from its customer.
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No drawing against book debt to be allowed which are O/s for a period exceeding the
stipulated period in sanction.
 Non-updation of security value of loan accounts in Finacle system.
 Insurance policy of primary and collateral securities with bank clause not done/not available
on record.
Prepared by Research Team, Baroda Apex Academy Page 8 of 22
  Not obtaining valuation report of charged immovable securities in every -3- years.
 CERSAI and SRO registration not done/pending in some accounts.
 Security perfection discharged securities are not complied as per sanction.
 Stock Audit /Credit Audit/Legal Audit are not carried out in eligible loan accounts timely and

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observations of auditors are not attended/complied in time before submission of RC.

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 Non-compliance of all terms and conditions of previous sanction.

A serious view have been taken with regard to non-compliance of the laid down norms of bank

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despite repeated communications from higher management and it is advised to all

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Zones/Regions/Branches to take serious note of the attached list of common irregularities
pointed out by statutory auditors, Global Credit exposure management policy and ensure

ED
compliance so as to avoid repetition of the adverse observations in LFAR.

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BCC:BR:113:534 DATED 09.09.2021
ROLLOUT OF BANK’S NEW CORPORATE WEBSITE AND OPERATIONAL GUIDELINES.

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Our Bank has revamped the domestic corporate website and the new enhanced website is live

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since 09.09.2021. The website is designed to have user driven, clutter free and seamless

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navigation along with an app-inspired mobile-first design, which will provide an optimized

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browsing experience on all devices. Our Bank has also upgraded and standardized the security
and operational aspects of the website. Bank has also shared guidelines for any updates to be

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carried out in the domestic corporate website of the bank for adherence on part of all offices.

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BCC:BR:113:535 DATED 07.09.2021
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POSTING OF LEGAL OFFICERS AT TRADE FINANCE BACK OFFICE (TFBO).
Our Bank has informed that in order to expedite the process of obtaining legal opinion, legal
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officers have now been posted at TFBO for vetting Bank Guarantees which are not as per the
N

standard format of our Bank. Therefore, Branches which have been migrated to TFBO shall send
A

such guarantees directly to the TFBO instead of sending to RO/ZO, for the legal vetting purpose.
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For Branches which are yet to be migrated to TFBO, the legal opinion may continue to be obtained
from the Legal Department at respective ROs/ZOs.
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BCC:BR:113:536 DATED 09.09.2021

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ESTABLISHMENT OF CENTRE FOR AGRICULTURE MARKETING AND PROCESSING (CAMP)

AT ZONES.
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Rural and Agri Banking has recently established Centre for Agriculture Marketing and Processing
(CAMP) at 16 Zones. To strengthen the objective of centralized processing of agriculture loans
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and to overcome the operational difficulties of existing Agri CPCs, a new operational structure for
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processing of Agri loans in the name of Centre for Agriculture Marketing and Processing (CAMP)
has been created at -16- Zones excluding New Delhi and Mumbai zones.
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Products covered under CAMP are as follows:

 BKCC/BAHFKCC (Fresh/Review with Increase) above limit of Rs. 3.00 lakhs
 Tractor/Four wheeler loans to farmers
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 All other farm mechanization products

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 Loans for Irrigation facilities

 All allied activities like Dairy, Poultry, and Fisheries etc.
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 Financing to Hi-tech agriculture

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 Financing to FPO/FPC
 Financing for protected cultivation including horticulture
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 All other investment credits above Rs. 1.00 Lakhs and

 All Leads received from various Govt. sources under Atmanirbhar package
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BCC:BR:113:537 DATED 09.09.2021

Prepared by Research Team, Baroda Apex Academy Page 9 of 22

 BARODA ADVANCE AGAINST SECURITIES – ELIGIBILITY FOR NON RESIDENT INDIANS
AND ENHANCEMENT OF LIMITS AGAINST DEBT ORIENTED MUTUAL FUNDS TO RS. 5
CRORES
Bank has enhanced the product features by extending loans to Non-resident Individuals (NRIs)

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and enhancing the limits against Debt Oriented Mutual Funds to Rs. 5 Crore from Rs. 1 Crore. Bank

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has shared a detailed circular that captures all the notifications of the past circulars and provides
detailed product profile and process flow with relevant forms enclosed.

BCC:BR:113:539 DATED 09.09.2021

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FOCUSSED LENDING TO CONTACT - INTENSIVE SECTOR

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In order to mitigate the adverse impact of the second wave of the pandemic on contact-intensive

ED
sectors, RBI had introduced ‘On-Tap Liquidity Window for Contact-Intensive Sectors’ through
‘Governor’s Statement’ dated 04.06.2021.

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Under this facility, RBI has opened a separate liquidity window of Rs. 15,000 crores at the repo

R
rate, for the period from 07.06.2021 to 31.03.2022. As per the guidelines, bank shall be able to

A
park its surplus liquidity up to the size of the COVID loan book created under this scheme with

M
the RBI under the reverse repo window @ 25 bps lower than the repo rate i.e. 40 bps higher than
the reverse repo rate.

U
K
To obtain the benefit of this facility, the branches have been advised to garner maximum business

A
with quality assets from the units in below mentioned contact intensive sectors:
 Hotels and restaurants;
D
 Tourism – travel agents, tour operators and adventure/heritage facilities;
N
 Aviation ancillary services – ground handling and supply chain and
A

 Other services that include private bus operators, car repair services, rent-a-car service
N

providers,
A

 Event/conference organizers,
 Spa clinics, and beauty parlors/saloons.
K
VE

However, branches should ensure that relevant Activity Codes are to be updated while opening
loan account in Finacle.
VI

BCC:BR:113:541 DATED 09.09.2021

LA

INTEGRATION OF FINACLE SYSTEM WITH LOAN LIFE CYCLE PROCESSING SYSTEM

(LLPS)"FOR OPENING OF MSME LOAN ACCOUNTS.
U

Our Bank has announced Integration of Finacle System with Loan Life Cycle Processing System
i.e. LLPS for opening of MSME Loan Accounts. With this integration, the account opening process
D

has been automated. The required data-input from LLPS will be directly pushed to Finacle &
D

branches will not need to feed any additional data in Finacle. Our Bank has shared the detailed
YE

procedure in this regard and Branches have been advised to open all MSME Loan Accounts in
Finacle through LLPS ONLY and desist from opening account by manual data entry.
r.

BCC:BR:113:542 DATED 10.09.2021

M

GUIDELINES FOR TIMELY AND QUALITATIVE DISPOSAL OF PENSIONERS' GRIEVANCES.

Our Bank has informed that in order to expedite redressal of grievances especially for the priority
y:

target groups i.e. Family pensioners and super-senior pensioners, Department of Pension and
B

Pensioners' Welfare has revised the time limit for redressal of Grievances from 45 days to 30 days.
Further, Bank has advised that every grievances shall be closed only after its final resolution. If a
ed

grievance pertains to Subordinate/attached office, the case may be forwarded to concerned office
and should not be closed until final action is taken.
ad

BCC:BR:113:543 DATED 10.09.2021

EXPEDITIOUS SETTLEMENT OF FAMILY PENSION CASES
Department of Pension & Pensioners' Welfare (DoPPW) has observed that upon death of a
pensioner, the spouse/ family members of the deceased pensioner are asked by the Pension
Prepared by Research Team, Baroda Apex Academy Page 10 of 22
 Disbursing Banks to submit details and documents, which are otherwise not required for
commencement of family pension resulting into inconvenience to the family pensioner. CPPCs/
Branches are advised to obtain only the minimum essential details/ documents from the
claimants of family pension as suggested by DoPPW as given below and start family pension

Y
immediately.

.(V
1. In cases where the deceased pensioner and spouse were holding a joint account;
 A simple letter/Application for commencement of family pension
 Death certificate of deceased pensioner

Y
 Copy of PPO issued to pensioner, if available

D
 Proof of age/ date of birth of applicant

ED
The spouse/ family member is not required to submit the details in Form 14 to the Bank
for commencement of family pension.

R
2. In cases where the spouse did not have the joint account with the deceased pensioner

R
 Application in Form 14 bearing the signature of two witness

A
 Death certificate of deceased pensioner

M
 Copy of PPO issued to pensioner, if available
 Proof of age/ date of birth of applicant

U
K
Form 14 is not required to be attested by a Gazetted officer, etc. The paying bank will identify the

A
spouse/ family member based on the information given in the PPO and its own KYC procedure.
D
N
3. In cases where, on death of the pensioner and spouse, family pension has to pass over to another
family member;
A
N

 If the other family member has been co-authorized for family pension in the PPO, the
A

same procedure as in sub-para 2 above shall be followed.

K

 If the name of the other family member is not included in the PPO, he/she may be advised
VE

to approach the office where the Govt. servant/ pensioner last served, for issuance of a
fresh PPO.
VI

The details of family members, other than the Applicant, are not relevant for commencement of
family pension by the bank and the same should not, therefore, be sought from the Applicant
LA

under any circumstances.

U

BCC:BR:113:544 DATED 07.09.2021

D

JUDGMENT AFFECTING BANK - LIMITATION PERIOD – NCLT - FILING OF PETITION U/S 7

IBC AS WELL AS APPLICATION FOR AMENDMENT OF PLEADINGS U/S 11 NCLT RULES.
D

Referring to civil appeal No.165 of 2020 titled as 'Dena Bank (Now Bank of Baroda) Vs C.
YE

Shivakumar Reddy & Anr. Order dated 04th August 2O21 by Division Bench of Supreme Court,
Bank has clarified that petition u/s 7 of IBC can be preferred by the Financial Creditor against the
Corporate Debtor within 3 years from the date of cause of action due to acknowledgement of debt
r.

before the expiry of limitation period. There can be multiple cause of action/trigger points for
M

initiation of filing petition under IBC including NPA date, Issuance oi= judgment decree and/or
Issuance of Recovery certificate etc."
y:
B

Court has upheld the decision of allowing amendment application and emphasized that it would
be prerogative of the Adjudicating Authority to allow modification of pleadings on case to case
ed

basis. Branches have been advised to take note of the judgment and notification mentioned above,
and arrange to take steps to recover the outstanding dues, in case the same is hit by limitation on
ad

the abovementioned grounds.

BCC:BR:113:545 DATED 14.09.2021

RETAIL LENDING: LAUNCH OF NEW PRODUCT "BARODA AUTO LOAN FOR PRE-OWNED
CAR”
Prepared by Research Team, Baroda Apex Academy Page 11 of 22
 Our Bank has decided to launch a new auto loan variant namely “Baroda Auto Loan for pre-owned
Car” to tap the used-car market. The product can be sold through certified Pre-owned car outlets
established by dealers of major car manufactures like Maruti True Value, Honda Auto terrace,
Tata Assured, etc. Vehicles older than 5 years of age cannot be financed under the scheme.

Y
Maximum finance is capped at Rs. 50.00 Lac and minimum finance being Rs. 2.00 Lac. Complete

.(V
details of scheme have been shared for reference of field functionaries.

BCC:BR:113:546 DATED 13.09.2021

LAUNCH OF COBRANDED PRODUCT - BOB NATIONAL HEALTH POLICY FROM M/S

Y
NATIONAL INSURANCE COMPANY LIMITED

D
Our General insurance tie-up partner M/S National Insurance Company Limited has introduced

ED
a cobranded health insurance plan - BOB National Health Policy exclusively for our customers.
 The Policy provides for Cashless Facility and/ or reimbursement of Hospitalization

R
expenses for treatment of Illness or Injury. Cashless facility is available only in network
providers of TPA, subject to prior approval by the TPA.

R
 Policy can be issued on Individual Basis (if only account holder is covered), and also on

A
floater Basis (if account holder and one or more than one Family Members are covered)

M
 The Policy can only be issued for a period of one year.
 The Policy is available with 0IPtions of Sum Insured of Rs. 3Lac, 5Lac and 10Lac. Sum

U
Insured can be enhanced only at the time of renewal.

K
 If the Proposer/ Insured opts f6r Optional Co-payment of 10% on each admissible claim

A
under the Policy (including Optional Cover), a discount of 8% shall be allowed on the total
premium.
D
 Tax rebate under Section 80D of Income Tax Act 1961
N
A

BCC:BR:113:548 DATED 15.09.2021

N

CONCESSION @0.25% IN THE EXISTING APPLICABLE ROI FOR BARODA HOME LOANS, BHL-
A

TOP UP & BARODA AUTO LOANS SANCTIONED DURING THE PERIOD FROM 16.09.2021 TO
31.12.2021SUBJECT TO MINIMUM RATE AS PER SCHEME.
K

Our Bank has decided to offer concession of 0.25 % in the existing applicable ROI for Baroda
VE

Home Loans, BHL-Top up & Baroda auto Loans sanctioned during the period from 1 6.09.2021 to
31.12.2021 on following conditions, subject to minimum rate as per scheme subject to product
VI

specific conditions detailed in the circular.

LA

BCC:BR:113:552 DATED 17.09.2021

COMMERCIAL VEHICLE (CV) FINANCE SCHEME AND CONSTRUCTION & MINING
U

EQUIPMENT (CME) FINANCE SCHEME - MOU WITH OEM'S

Our Bank is having MOU with the following leading CV/ CME OEM's as preferred financer for
D

their CV/ CME customers.

D
YE

 Diamler India Commercial Vehicles Private Ltd (Bharat Benz)

 VE Commercial Vehicle Limited (Eicher Motors & Volvo Trucks)
 Ashok Leyland Limited
r.

 TVS Motor Company Limited (Auto/ Three Wheeler)

M

Our Bank has shared the common salient features of these MOU’s as under:
y:

 OEM's will provide access to respective Dealer's network for vehicle loan business.
B

 Sourcing of vehicle-loan applications will be done at the Dealers' outlets and at our
Branches.
ed

 Dealers shall assist the customers for filling up the application forms and shall forward
the applications to the nearest designated Nodal Branch of the Bank along with the
ad

required documents.
 Dealers will also provide copy of Tax Invoice and support in providing Insurance policy,
Registration Certificate (RC) Copy, etc. and also arrange for Registration of Bank's charge
in RC & Insurance Policy.

Prepared by Research Team, Baroda Apex Academy Page 12 of 22

  Dealers 'On Best Effort Basis' shall assist the Bank's team for recovery in case of default
(if any) by the borrowers sourced under the MOU.
As per the terms of MOU designated Nodal Branches will share applicable preliminary eligibility
criteria on the basis of which Dealers shall refer potential customers to the Branch. However loans

Y
will be sanctioned by the designated Branches as per respective Scheme / Bank guidelines at sole

.(V
discretion. Operating units / CV-Nodal Branches are requested to take maximum advantage of
our Tie-up's with these OEMs and canvass maximum business under CV/ CME Finance Scheme.

BCC:BR:113:553 DATED 18.09.2021

Y
D
INTRODUCTION OF BARODA BPCL CO-BRANDED DEBIT CARD (BIN 652331)
Our Bank has launched an international co-branded RuPay NCMC Platinum contactless debit

ED
card with Bharat Petroleum Corporation Limited (BPCL). The personalized RuPay platinum
international debit card comes with various benefits including 5 per cent cashback up to ₹50 on

R
the first 2 transactions at BPCL outlets. The customers will also receive 0.75 per cent cashback
incentive on fuel transactions up to maximum ₹45 per transaction at over 19,000 plus BPCL

R
outlets across India. Additionally, cardholders can access RuPay concierge services, domestic

A
airport lounges along with an accidental insurance worth ₹2 lakh. The BoB BPCL RuPay co-

M
branded debit card is powered with the “National Common Mobility Card (NCMC)” feature that
enables contactless transactions across all the public transport systems in the country such as

U
metros, buses, cabs suburban railways, toll, parking, and topping-up FASTags and also for retail

K
purchases.

A
BCC:BR:113:554 DATED 18.09.2021
D
BARODA AUTO LOAN FOR PRE-OWNED CAR - PAYOUT TO CERTIFIED PRE-OWNED
N
APPROVED CAR DEALERS & SERVICE CHARGES TO SALES EXECUTIVE – CLARIFICATION
A

Our Bank has clarified that Payout for sourcing of loan against pre-owned vehicle & incentives I
N

Service charges to executives will remain same as conveyed In Baroda Auto Loan Master Circular
A

No BCC:BR:113 I 244 dated 10-05-2021. Dealers dealing both the vehicle i.e. new & pre-owned
K

car and sourcing loan files for Bank, may be eligible for payout combining both the leads of
sourcing, according to slab applicable as per above referred circular. No preferred payout will be
VE

available for pre-owned vehicle.

VI

BCC:BR:113:556 DATED 18.09.2021

PRIORITY SECTOR LENDING (PSL - TARGET FOR NON-CORPORATE FARMERS FY 2O21-22.
LA

Our Bank has shared Targets for Non-corporate farmers for FY 2O21-22 as advised by the RBI
which is 12.73% of ANBC/CEOBE, whichever is higher. Accordingly, the mandatory targets under
U

various parameters of Priority Sector Lending for the FY 2021-22 are as under:
D
D
YE
r.
M

BCC:BR:113:557 DATED 21.09.2021

y:

FOCUSSED LENDING TO CONTACT-INTENSIVE SECTOR: UPDATION OF ACTIVITY CODE

B

Referring to earlier circular no. BCC:BR:113:539 dated 09.09.2021, our Bank has shared
detailed list of Activity Codes related to Contact-Intensive Sectors to facilitate branches
ed

to obtain the benefit of this facility and to garner maximum business with quality assets
ad

from the units in contact intensive sectors.

BCC:BR:113:559 DATED 20.09.2021

FINANCING AGAINST WAREHOUSE RECEIPT (WHR) STORAGE RECEIPT (SR) EMPANELLED
ISSUED BY OUR COLLATERAL MANAGERS (CM).

Prepared by Research Team, Baroda Apex Academy Page 13 of 22

 Our Bank has been advising the operating units from time to time about the preventive vigilance
measures to be followed/ put in place by the branches to avoid occurrence of frauds in financing
against WHR/SR. Further, Tie-up arrangement with the CMs (Collateral Managers) have been
reviewed from time to time based on the feedback received from the operating units and conduct

Y
of the CMs. Now, for the benefit of the operating units, our Bank has furnished the consolidated

.(V
position of the present status of Collateral Managers empanelled with our bank as under:

Y
D
ED
R
R
A
M
U
K
BCC:BR:113:560 DATED 21.09.2021
MODIFICATION IN BARODA CRE HOME LOAN GUIDELINES
A
D
Looking at high delinquency rates and high risk weight of 100 % under CRE Home Loan scheme
N
our Bank vide circular no. BCC:BR:113:226 dated 26.04.2021, had imposed certain additional
A

stipulation (in April 2021) like minimum CIBIL score of 725, no deviations on certain parameters
N

and additional 5 % margin. In view of constraints faced by operating units and feedback received,
it has been decided that the above conditions will not be applicable for 1 st CRE Home Loans.
A
K

BCC:BR:113:561 DATED 21.09.2021

VE

INTRODUCTION OF NEW CODE "REASSAY" IN FINACLE FOR GOLD LOANS

To digitally strengthen the monitoring mechanism our Bank has introduced a new code
VI

REASSAY in finacle to capture details of reassessment of gold in eligible gold loan accounts. Our
Bank has also developed an alert mechanism through e-mail where Zones/Regions/Branches will
LA

get auto generated mails if re assaying of gold jewellery/ornaments is not done within 15 days in
all eligible gold loan accounts above 3 lakhs by another assayer of same branch or assayer of
another branch. Our Bank has shared the detailed job card for the same for ready reference of the
U

field functionaries.
D
D

BCC:BR:113:563 DATED 22.09.2021

YE

CONTINUATION OF CONCESSION IN PROCESSING CHARGES IN VARIOUS RETAIL LOANS

UP TO 31ST DECEMBER 2021
In view of the feedback received from the operating units and selling opportunities available in
r.

the market during upcoming festivals for retail loans, our bank has decided to extend the ongoing
M

concession advised vide aforesaid circular on different retail loans products up to 31st December
2021. Being the festival quarter ahead, operating units are advised to take full advantage of
y:

concession in Processing Charges and push the retail loan product aggressively.
B

BCC:BR:113:564 DATED 22.09.2021

ed

OBTAINING OF LEGAL ENTITY IDENTIFIER (LEI) CODE - EXPOSURE OF RS. 5 CR & ABOVE
As per existing guidelines, LEI should be mandatorily obtained from all borrowers of our Bank
ad

having aggregate exposure of Rs. 5 Cr and above from entire banking system. As it is a regulatory
compliance Bank has advised following action points for ensuring compliance:

 Branches to contact all the borrowers having aggregate exposure of Rs. 5 Cr and above
from entire banking system and obtain the LEI number.
Prepared by Research Team, Baroda Apex Academy Page 14 of 22
  LEI Number thus obtained shall be entered in CBS at "ABAIM" Menu. (Detailed job in
circular no BCC/CIC/DFB/111/04 dated 31.01.2019.)
 No new account (except individuals/Government), where the aggregate exposure of the
borrower is Rs.5 Cr and above, be allowed to be opened in the CBS, unless there is a valid

Y
LEI number and the same is entered in the CBS.

.(V
 Disbursements/ increase in limits/ restructuring to be allowed for eligible borrowers in
CBS (except individuals/Government) only if valid LEI is already available in the system;
 LEI number to be made part of Credit Audit/Loan Review Mechanism of eligible accounts

Y
and audit not to be closed unless LEI number is made available/held on record;


D
No credit facilities (except individuals/ Government) to be sanctioned/ renewed/
reviewed at all levels unless there is a valid LEI number.

ED
BCC:BR:113:565 DATED 22.09.2021

R
"BARODA GYANI" QUIZ COMPETITION 2O21-22
Baroda Academy has been engaging employees towards continuous learning with innovative

R
ideas and methodologies. One such initiative is Baroda Gyani Quiz Competition which is being

A
conducted since 2015 and is welcomed with zeal and enthusiasm by fellow Barodians. Our Bank

M
has now announced Baroda Gyani Quiz Competition for the FY 2021-22 which will be held online
in 3 rounds through Baroda Gurukul and other online platforms. The competition is open to all

U
officers up to scale III and business associates in Branches/ offices in India.

K
A
BCC:BR:113:566 DATED 23.09.2021 D
PM STREET VENDOR’S ATMANIRBHAR NIDHI (PM SVANIDHI) SCHEME - REMOVAL OF
MINIMUM CREDIT BUREAU SCORE / CRIF SCORE CRITERIA
N
Our Bank has reiterated that Credit Bureau Score / CRIF score is not required for sanction of loan
A

under PM SVANidhi scheme.

N
A

BCC:BR:113:569 DATED 24.08.2021

TATA AIG GENERAL INSURANCE PRODUCT – “BHARAT GRIH RAKSHA" PRICE REVISION.
K

In order to provide competitive rates and offer our valued customers better pricing for home
VE

insurance, our General Insurance tie up partner TATA AIG General Insurance has reduced the
pricing of "Bharat Grih Raksha" by 20% on the base rates. This move is expected to attract
VI

customers with competitive pricing, help our bank avoid rate fluctuation and maintain group
homogeneity. All the branches are advised to take benefit of the revised rates and offer
LA

comprehensive coverage to the Home loan products. Comprehensive covers not only ensures
protection to the assets from all kinds of covers but also helps in preventing the account not to
U

become NPA due to any unforeseen event to the asset.

D

BCC:BR:113:570 DATED 24.09.2021

D

INSURANCE POLICY RENEWALS & BUYING NEW POLICIES OF INSURANCE TIE UP

YE

PARTNERS THROUGH BANK'S WEBSITE

Our Bank has informed that customers who have purchased Insurance Policy through our Bank
will now be able to renew their policy through Banks website and customers having debit card or
r.

internet banking will be able to purchase Insurance policy of Banks Insurance tie up partners on
M

our website. Currently some products of Indiafirst Life Insurance Co Ltd, TATA AIG General
Insurance, Cholamandalam MS General Insurance and MaxBupa Health Insurance are available
y:

for fresh issue or renewal on our Bank’s website. Bank will add more products for Renewal & BUY
B

NEW to the above list to enable the customer avail these services without visiting the Branch. Our
bank has advised all the Branches to create awareness among the customers regarding the
ed

availability of the Insurance products for Renewal and New Buy on Bank's website.
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BCC:BR:113:571 DATED 24.09.2021

COLLECTION OF LIFE CERTIFICATES FROM PENSIONERS AND ENSURING COMPLIANCE OF
COVID PROTOCOLS WHILE OBTAINING LIFE CERTIFICATES FROM THE PENSIONERS FOR
THE YEAR 2021·22.

Prepared by Research Team, Baroda Apex Academy Page 15 of 22

 Our Bank has instructed that branches should ensure compliance of COVID protocols while
obtaining Life certificates from the pensioners for the year 2021·22. Social distancing should be
maintained in the Branch Premises and branch officials deployed for this task should be fully
vaccinated and take the highest possible care while attending pensioners. Branch must ensure a

Y
suitable mechanism to avoid rush in the branch premises during submission of Life certificate by

.(V
the pensioners. In case of Door Step banking, Branch official visiting pensioner’s home to obtain
Life Certificate should be fully vaccinated and must be equipped with a proper mask and sanitizer
and follow the highest possible care while obtaining Life Certificate through Biometric devices.

Y
BCC:BR:113:572 DATED 27.09.2021

D
PM STREET VENDOR’S ATMANIRBHAR NIDHI (PM SVANIDHI) SCHEME - SECOND

ED
TRANCHE OF LOANS
Our bank has shared guidelines for second tranche of PM Street Vendor’s AtmaNirbhar Nidhi (PM

R
SVANidhi) scheme as under:

R
A
M
U
K
A
D
N
A
N
A

All other existing terms & conditions as applicable for first tranche of loan, shall continue to be
K

applicable for second tranche of loans and these shall be sanctioned and disbursed at the
VE

respective branches.
VI

BCC:BR:113:573 DATED 27.09.2021

BARODA EMERGENCY CREDIT LINE SCHEME (BGECLS) : ONE-TIME RELAXATION IN
REPORTING OF NPA
LA

Our Bank has observed that many of our branches have not reported / missed to mark its NPA
data on ECLGS Portal (https://app.eclgs.com/EGS/jsp/Home.jsp) within the stipulated time of 90
U

days from the date of NPA. Bank has informed that NCGTC has decided to allow to enter / report
D

such pending NPA data on ECLGS Portal on or before October 31, 2021, as One-time measure.
D

Please note that all such NPA accounts which are reported on ECLGS Portal with delay, a
YE

deduction from claim amount to the extent of 1.50% as Penalty shall be charged.

BCC:BR:113:577 DATED 29.09.2021

r.

JUDGMENT AFFECTING THE BANKERS- LIMITATION ACT – RESUMPTION OF LIMITATION

M

(SC DECISION)
Supreme Court of India, during the COVID pandemic in the Country & foreseeing the difficulties
y:

that might be faced by the litigants across the country in filing

petitions/applications/suits/appeals/all other proceedings within the period of limitation
B

prescribed under the general law of limitation or under any special laws (both Central or State),
ed

extended the period of limitation prescribed under the general law or special laws whether
compoundable or not with effect from 15.03.2020 till further orders in suo Moto Petition (Civil)
ad

no. 3/2020 vide order dated 27.03.2020.

Now, due to considerable decrease in the COVID cases, the Hon’ble Supreme Court, vide their
order dated 23.09.2021 has restored the order dated 08.03.2021, and advised as under:-

Prepared by Research Team, Baroda Apex Academy Page 16 of 22

 i) In computing the period of limitation for any suit, appeal, application or proceeding, the
period from 15.03.2020 till 02.10.2021 shall stand excluded. Consequently, the balance
period of limitation remaining as on 15.03.2021, if any, shall become available with effect
from 03.10.2021.

Y
ii) In cases where the limitation would have expired during the period between 15.03.2020

.(V
till 02.10.2021, notwithstanding the actual balance period of limitation remaining, all
persons shall have a limitation period of 90 days from 03.10.2021. In the event the actual
balance period of limitation remaining, with effect from 03.10.2021, is greater than 90

Y
days, that longer period shall apply.
iii) The period from 15.03.2020 till 02.10.2021 shall also stand excluded in computing the

D
periods prescribed under Sections 23 (4) and 29A of the Arbitration and Conciliation Act,

ED
1996, Section 12A of the Commercial Courts Act, 2015 and provisos (b) and (c) of Section
138 of the Negotiable Instruments Act, 1881 and any other laws, which prescribe period(s)

R
of limitation for instituting proceedings, outer limits (within which the court or tribunal
can condone delay) and termination of proceedings.

R
A
Zones/ROs/Branches/Departments to scan the existing portfolio particularly looking into the

M
aspect of limitation and initiate necessary legal action required, if any, within the time frame as
allowed by the Hon’ble Supreme Court to enforce the available legal remedy/ies.

U
K
BCC:BR:113:578 DATED 27.09.2021

A
TATA AIG GENERAL INSURANCE PRODUCTS: REVISED GCS PA & GCS FIXED PREMIUM
PRODUCT.
D
Our General Insurance tie up partner TATA AIG General Insurance has now revised the products
N
based on inputs from insurance regulator IRDAI.
A
N
A
K
VE
VI
LA
U
D
D
YE
r.
M
y:
B

Bank has also shared the premium tables for the products. All the Branches are advised to remove
all the old content of the above two products and update with the revised coverages.
ed

BCC:BR:113:581 DATED 30.09.2021

ad

EXTENSION OF PAYING ADDITIONAL ROI TO SENIOR CITIZENS (EXCEPT NRE/NRO) ON

DOMESTIC RETAIL TERM DEPOSIT (CALLABLE/ NON-CALLABLE) FOR TENURE ABOVE 5
YEARS & UP TO 10 YEARS BUCKET TILL 31.03.2022
Bank has decided to continue to pay additional ROI to Senior Citizen (except NRE/NRO) in
Domestic Retail Term Deposit (Callable & Non-Callable) of less than Rs.2.00 Crores as under:-
Prepared by Research Team, Baroda Apex Academy Page 17 of 22
  0.50% for all tenures up to 5 years
 1.00% for "Above 5 years to up to 10 years" tenures and valid till 31.03.2022

BCC:BR:113:582 DATED 30.09.2021

Y
REVISION OF CREDIT SPREADS FOR RUPEE DENOMINATED DOMESTIC CORPORATE

.(V
ADVANCES
The Global Asset Liability Management Committee in its meeting held on 04.08.2021 has
reviewed /revised/approved the credit spreads for Domestic Corporate Advances and shared the
same. The said spreads will be effective from 1st October 2021 and will apply to fresh sanctions

Y
and renewals of the existing facilities as per the extant guidelines to all rupee denominated

D
Domestic Corporate Advances linked to MCLR and Base Rate. Other extant guidelines with regard

ED
to Tenor premium (in case of Base rate linked exposures) and Strategic Premium (in case of MCLR
linked exposures), etc. remain unchanged.

R
R
A
M
U
K
A
D
N
A
N
A
K
VE
VI
LA
U
D

BCC:BR:113:584 DATED 30.09.2021

D

SURAKSHA DIWAS - GENERAL INSURANCE BUSINESS DRIVE (EVERY TUESDAY)

YE

Keeping in view the importance of the General Insurance offerings for the Bank's Asset book and
significant impact on the health of the Bank's assets, we offer a variety of General Insurance
products ranging from Fire/property, Motor to Health as a Corporate Agent for our three tie-ups
r.

under General Insurance viz., M/s. National Insurance Co Ltd, M/s. TATA AIG General Insurance
M

and M/s. Cholamandalam MS General Insurance. As a part of continuous business engagement

drive and ensuring increased coverage of Bank's assets, our Bank has decided to focus every
y:

Tuesday for General Insurance business as "Suraksha Diwas". Each month will have 4 or 5
B

SURAKSHA DIWAS.
ed

BCC:BR:113:585 DATED 30.09.2021

PAYMENT OF LUMP SUM AMOUNT TO COVID INFECTED STAFF MEMBERS TOWARDS
ad

ADDITIONAL EXPENSES INCURRED FOR TREATMENT OF COVID.

Our Bank has decided to extend the validity of the scheme for payment of lump sum amount to
COVID infected staff members, till 31st March 2022. The scheme is intended to ease the financial
burden and defray the additional & miscellaneous expenditure incurred by them towards for

Prepared by Research Team, Baroda Apex Academy Page 18 of 22

 treatment of COVID. However, it should be noted that employees who are eligible for vaccination
but have chosen not to get vaccinated, should be kept outside the purview of the said scheme.

BCC:BR:113:586 DATED 30.09.2021

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RETAIL LOAN - FINANCING OF CAR LOAN LEADS GENERATED BY MARUTI SUZUKI LNDIA
LIMITED (MSIL) ON THEIR "SMART FINANCE PLATFORM"

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Referring to tie-up arrangement with Maruti Suzuki India Limited for integration to "Maruti
Suzuki Smart Finance (MSSF)" portal, our Bank has informed that the initial integration which
was done for pre-approved loan journey is now extended to non-pre-approved ETB & NTB

Y
salaried customers also w.e.f. 01.10.2021.

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The portal "MSSF" act as a facilitator between the customers and Financiers. The MSIL has
launched the platform in all the cities through its retail chain "NEXA" & "Arena" targeting salaried

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customers, accordingly.

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 All the Leads received through MSIL will be reflected in LLPS along with required

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documents.


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All the leads reflected in LLPS to be attended promptly by the branches /car loan
cells/operating units within a TAT of 24 hours.

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 Customer should be contacted immediately upon receiving the leads in LLPS. Branches

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to arrange CPV/KYC/verification of documents, sanction /rejection within TAT of 48

A
hours.

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Branch to contact applicant at local level in case of any missing information or documents
in LLPS.
N
 Branches to take suitable decision on such leads in LLPS only. No manual processing is
A

allowed.
N

 The status of application in LLPS would automatically be updated on MSIL portal for
A

customer view & update.


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In case any file does not reflect in LLPS, one may contact on 079-61800392/346 or email
at ALHELPDESK@BGSS.IN at CPC Gandhinagar with the reference ID mentioned on
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MSSF.
 These leads received from MSIL would not affect the existing arrangement of Pay-out /
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MOU with dealers.

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BCC:BR:113:588 DATED 30.09.2021

PROCESSING OF E-MANDATE ON DEBIT CARDS FO RECURRING TRANSACTIONS.
U

Our Bank has started providing the e-Mandate registration facility to our Debit Card customers
for online recurring transactions. At present, Bank has started this facility with our VISA Card
D

Variants and the same will be extended to our MasterCard and RuPay Card variants in due course.
D

A debit cardholder desirous of opting for e-mandate facility on card shall undertake one time
YE

registration process, with Additional factor authentication validation from the respective
merchant’s portal. No Charges applicable for availing e-Mandate facility through Debit cards.
r.

BCC:BR:113:589 DATED 29.09.2021

M

BLOCK/UNBLOCK MOBILE NUMBER FOR MOBILE BANKING USING HDCR MENU IN

FINACLE
y:

Our Bank has enabled service of unblocking and blocking registered mobile numbers using HDCR
B

menu in Finacle at branch level. Upon receipt of customers' complaint on unauthorized access in
customer accounts, branches can use block operation under HDCR menu to block their registered
ed

mobile numbers and prevent fresh registration to mobile banking from any of the available
channels. If customers wishes to re-avail mobile banking facility on written request, unblock
ad

operation under HDCR menu can be used to release the mobile number already blocked for mobile
banking. Our Bank has shared detailed Job card for operational convenience of the field
functionaries.

BCC:BR:113:591 DATED 30.09.2021

Prepared by Research Team, Baroda Apex Academy Page 19 of 22

 USE OF ANY ALTERNATIVE REFERENCE RATE IN PLACE OF LIBOR FOR INTEREST PAYABLE
IN RESPECT OF EXPORT / IMPORT TRANSACTIONS
In view of the impending cessation of LIBOR as a benchmark rate, it has been decided by RBI to
permit AD banks to use any other widely accepted/Alternative reference rate in the currency

Y
concerned for such transactions. All other instructions in this regard shall remain unchanged. The

.(V
necessary enabling amendment to FEMA 23(R)/2015-RB has since been notified vide
Notification No. FEMA 23(R)/(5)/2021-RB dated September 08, 2021.

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Prepared by Research Team, Baroda Apex Academy Page 20 of 22

 RBI Circulars
RBI/2021-2022/96 - CO.DPSS.POLC.NO.S-516/02-14-003/2021-22 DATED 07.09.2021 (
Click the Icons to access full circular)

Y
TOKENISATION – CARD TRANSACTIONS: PERMITTING CARD-ON-FILE TOKENISATION

.(V
(COFT) SERVICES
On a review of the tokenisation framework and to enable cardholders to benefit from the security
of tokenised card transactions as also the convenience of Card on File (CoF), RBI has decided to

Y
give effect to certain enhancements as under:
 Extend the device-based tokenisation framework to CoF Tokenisation (CoFT) as well.

D
 Permit card issuers to offer card tokenisation services as Token Service Providers (TSPs).

ED
 The facility of tokenisation shall be offered by the TSPs only for the cards issued by /
affiliated to them.

R
 The ability to tokenise and de-tokenise card data shall be with the same TSP.
 Tokenisation of card data shall be done with explicit customer consent requiring

R
Additional Factor of Authentication (AFA) validation by card issuer.

A
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With effect from January 1, 2022, no entity in the card transaction / payment chain, other than

U
the card issuers and / or card networks, shall store the actual card data. Any such data stored
previously shall be purged. For transaction tracking and / or reconciliation purposes, entities can

K
store limited data – last four digits of actual card number and card issuer’s name – in compliance

A
with the applicable standards. Complete and ongoing compliance with the said guidelines by all
D
entities involved, shall be the responsibility of the card networks.
N
RBI/2021-2022/97 - DOR.CRE.REC.47/21.01.003/2021-22 DATED 09.09.2021
A

LARGE EXPOSURES FRAMEWORK – CREDIT RISK MITIGATION (CRM) FOR OFFSETTING –

N

NON-CENTRALLY CLEARED DERIVATIVE TRANSACTIONS OF FOREIGN BANK BRANCHES

IN INDIA WITH THEIR HEAD OFFICE
A

The RBI has advised that the Indian branches of foreign banks shall be permitted to reckon
K

cash/unencumbered approved securities, the source of which is interest-free funds from Head
VE

Office or remittable surplus retained in Indian books (reserves), held with RBI under 11(2)(b)(i) of
the Banking Regulation Act,1949 (‘BR Act’) as CRM, for offsetting the gross exposure of the
VI

foreign bank branches in India to the Head Office (including overseas branches) for the
calculation of LEF limit, subject to conditions. Further, it has been decided to permit foreign banks
LA

to exclude derivative contracts executed prior to April 1, 2019 while computing the derivative
exposures on their Head Office (including overseas branches).
U

RBI/2021-2022/98 - DOR.AML.REC 48/14.01.001/2021-22 DATED 13.09.2021

D

APPLICATION FOR AADHAAR E-KYC AUTHENTICATION LICENCE

In terms of Section 11A of the PML Act, 2002, entities other than banking companies may, by
D

notification of the Central Government, be permitted to carry out authentication of client’s

YE

Aadhaar number using e-KYC facility provided by the Unique Identification Authority of India
(UIDAI). Such notification shall be issued only after consultation with UIDAI and the appropriate
regulator. Further, a detailed procedure for processing of applications under the aforementioned
r.

Section for use of Aadhar authentication services by entities other than banking companies has
M

been provided by the Department of Revenue, Ministry of Finance vide their circular dated May
9, 2019.
y:
B

RBI has now invited Non-Banking Finance Companies (NBFCs), Payment System Providers and
Payment System Participants desirous of obtaining Aadhaar Authentication License - KYC User
ed

Agency (KUA) License or sub-KUA License (to perform authentication through a KUA), issued
by the UIDAI, to submit their application for onward submission to UIDAI.
ad

RBI/2021-2022/101 - A.P. (DIR SERIES) CIRCULAR NO.13

USE OF ANY ALTERNATIVE REFERENCE RATE IN PLACE OF LIBOR FOR INTEREST PAYABLE
IN RESPECT OF EXPORT / IMPORT TRANSACTIONS

Prepared by Research Team, Baroda Apex Academy Page 21 of 22

 In view of the impending cessation of LIBOR as a benchmark rate, RBI has decided to permit AD
banks to use any other widely accepted/Alternative reference rate in the currency concerned for
such transactions.
-------------------------------------------------------------------------------------------------

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Note: The information contained in this compilation is confidential, privileged and

.(V
intended strictly for internal circulation only and not for any public
use/consumption.

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The Information contained in this compilation is general in nature and prepared for

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learning purpose only. This compilation should not be construed as substitute for

ED
the Original Circulars/ Guidelines issued from time to time. Only selected circulars
have been made part of the document. For complete details and guidelines, please

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refer to Barodapedia and Intranet.

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References:

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RBI Index to RBI

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Circulars:https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx

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Bank of Baroda Intranet website: https://intranet.bankofbaroda.co.in/
N
A

List of Other Publications available on Baroda Gurukul -

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
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Daily News Flash


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Domain wise Handbook/Work Book

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Prepared by Research Team, Baroda Apex Academy Page 22 of 22

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To share reviews follow this link - https://forms.office.com/r/0dKSSz5qX8
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Baroda Gurukul > Social Learning > Digital Library > The Indian Banker
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