Bank of Baroda launches 3 products as it celebrates 110th anniversary

Bank of Baroda launches 3 products as it celebrates 110th anniversary
Bank of Baroda is enriching mobile banking, internet banking and other technology products. - AFP

By Staff Report

Published: Wed 19 Jul 2017, 10:13 PM

Last updated: Thu 20 Jul 2017, 12:20 AM

Technology has become the biggest enabler in providing convenient banking at customer's door step and Bank of Baroda is forging ahead with its latest innovative products as it celebrates 110th anniversary today, said Vineet K Dudeja, chief executive - GCC Operations, Bank of Baroda (BOB). Speaking on wider issues like economy boost and technology boom, Dudeja said the brand has been working to offer compliant and quality banking solutions.
Q How do you see the journey of Bank of Baroda since its inception in UAE? 
Bank of Baroda has been a witness to the growth and success story of UAE. We started our UAE operations in 1974 and since then we have been catering to all segments of society from blue collared force to large corporates. Our motto is to provide services to customers through compliant and quality banking solutions. I am deeply contended with patronage and support bank receives from the visionary rulers of the country, regulators and our patrons.
Q Since Indian are amongst the highest number of expats in UAE, How Bank of Baroda has been Instrumental in expanding their interest?
We have been proudly shouldering all our banking as well as social responsibility towards the society. Be it innovative 24/7 remittance products, deposit products, salary loans, vehicle loans or any banking requirement, we feel our privilege to serve all sections of the society. Indians feel at home when they visit our branches in UAE.
Q What are your views on recent developments in Indo-UAE relations and its impact on banking? 
Indo-UAE relations have always been healthy and friendly, but recent upsurge of efforts in strengthening it further, has given a new dimension to this alliance. Definitely, it is going to strengthen the mutual trade between both countries and banking being the reflection of economy is certainly going to be amply benefitted from this stronger bonding.
Q What are the various initiative that Bank of Baroda is having in pipeline to further strengthen Its position in UAE?
We are committed to provide best class service to our customers. On 110th foundation day of our bank, we have launched three innovative products viz. Baroda Happiness Twin Account, Rapid funds to India through ATMs and Internet Banking and Baroda Premium Current Account. Baroda Happiness twin account is a unique offering for Salaried class, Rapid funds to India is latest remittance product through which our customers can send money to India 24/7 using our ATMs and Internet Banking also. Baroda Premium Current Account is an interest earning current account for corporate/HNIs. We are also enriching our mobile Banking, Internet Banking and other technology products.
Q How do you see the growth of banking industry in next five years?
The UAE banking has matured by passing through various economic business cycles during last one decade. I see consistent growth in business, however I would not prefer to give any numbers as in today's economic world five years period is seen as a long term. But growth will be in line with GDP growth of country.
Q How Bank of Baroda is going to simplify the banking for a common customer with the help of technology? 
Technology has become the biggest enabler in providing convenient, 24/7, banking at customer's door step. Through innovative products, strong e-channels like mobile banking and internet banking and simplified processes, we are offering comprehensive banking solutions to our customers. -

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