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OCTOBER-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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 MONTHLY GIST OF CIRCULARS OCTOBER
2021

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HO Circulars
HO:BR:113:234 DATED 01.10.2021 - ( Click the Icons to access full circular)

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CHECKING OF VARIOUS REPORTS

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Our Bank has observed that Branches are not regularly checking various reports generated

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through the system and Frauds were also successfully perpetrated over a period of time due to
non-checking of prescribed daily reports by the branches which could otherwise have resulted
into detection of the fraud at the earliest stage and thus averted financial loss to the Bank. Our

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Bank has thus reiterated that following reports to be generated from the system (Live Server) with

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its periodicity and menu option for checking by Officers / Joint Manager/ Branch head.

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HO:BR:113:236 DATED 01.10.2021

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NEW MENU IN CBS FOR RECORDING DECLARATION OF DEATH / DISABILITY OF

CUSTOMERS COVERED UNDER PMJJBY OR PMSBY
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As per Government directions, the following additional details have to be captured in CBS by
branches in order to (i) intimate the insured / nominee about availability of coverage under
PMJJBY and / or PMSBY as soon as the Branch learns about the disability or death of the customer
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covered under the schemes (ii) enable seam less processing of claims under the schemes (iii)
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track the claim status and (iv) generate useful MIS.

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1. Additional Details of Nominee / Guardian

Provision has been made in PMY menu in Finacle for capturing following additional details of
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Nominee, Guardian / Appointee -

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a. Full address of Nominee

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b. Mobile number of Nominee

c. email address of Nominee
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d. Address of the Guardian / Appointee

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e. Mobile number of Guardian / Appointee

f. email address of Guardian / Appointee
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2. Death Disability Declaration - New Menu "PMYDDD"

A new menu "PMYDDD" has been added in Finacle for capturing the details of intimation about
incidences of Death or Disability of the customer covered under PMJJBY and PMSBY received

Prepared by Research Team, Baroda Apex Academy Page 2 of 30

 from Nominee or any other person. Verified entries in PMYDDD menu shall also trigger automatic
SMS and / email alerts to the Insured or the Nominee for submission of claim documents provided
proper mobile number or email ID has been captured in the system.

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HO:BR:113:238 DATED 05.10.2021

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RENEWAL OF GROUP HEALTH INSURANCE POLICY FOR THE EXISTING EMPLOYEES FOR
(2021- 22) - CHANGE OF TPA & CONDITIONS.
Bank has renewed the Group Health Insurance Policy with National Insurance Company for the
Existing Employees for the period 1st Oct 2021 to 30th Sept 2022. All Existing Employees and their

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dependent family members are covered under the renewed Group Health Insurance Policy (as per

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BPS / Joint Note) and the Terms and conditions of the Policy shall remain the same as in the earlier

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policy for the year 2020-21). Medi Assist Insurance TPA Pvt. Ltd. shall be the Third Party
Administrator (TPA) for our Bank and Cashless facility as well as Medical claims will be processed

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by this TPA.

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Employees are advised to take Cashless facility at network hospital/s in order to avoid financial

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difficulties they face during treatment. However, if employees are taking treatment at a non-

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network hospital and in need money for treatment, they may use the facility of Loan for medical
purpose as Special Demand Loan as per the circular No. HO: BR: 112:284 Dated 29th June 2020.

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HO:BR:113:239 DATED 06.10.2021

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MASTER CIRCULAR - FINANCIAL INCLUSION
Our Bank has shared Master Circular on Financial Inclusion which consolidates the broad
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guidelines, instructions and scheme details of Financial Inclusion Department updated till 05.1
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[Link] updated master circular is expected to help all the operating units to update their
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awareness about various schemes under Financial Inclusion and facilitate them as a reference
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material for effectively implementing the Financial Inclusion initiative. The Master circular
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discusses at length about the following important aspects:

 Financial Inclusion Products
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 Financial Inclusion Delivery Channels

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 Business Correspondent delivery models

 BC Model Revamp
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 Selection of Corporate Business Correspondents (CBCs)

 Commission structure
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 Field BC Settlement Accounts under 0D124 scheme

 Process flow for Engaging BC Agent
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 Products and Services at BC Points

 Aadhaar Enabled Payment System (AEPS)-Dispute resolution
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 Duties/Responsibilities of BC Agents
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 BC Supervision
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 BC Grading
 Aadhaar Enrolment Centres (AEC)
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HO:BR:113:242 DATED 07.10.2021

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IMPLEMENTATION OF ESCALATION MATRIX FOR GRIEVANCES UNRESOLVED BEYOND

TAT
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Our Bank has observed that despite best efforts by resolver groups, resolution of 67% grievances
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is taking place beyond the defined TAT. The following reasons are identified for resolution beyond
TAT:
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 Resolution is outside the purview of the resolving Team as the matter had been taken-up
with other Departments like Global Help Desk (SMAX), IT Teams etc. for resolution of
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issue reported.
 Initial Resolver Teams are not able to coordinate with other offices at their level.
 Grievances are reopened due to improper resolution given earlier

Prepared by Research Team, Baroda Apex Academy Page 3 of 30

 To address this issue, our Bank has decided to implement an Escalation Matrix for all the resolver
groups as under:

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The above functionality has been made live in Siebel CRM grievance module. Respective

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resolvers and authorities under escalation matrix would be sent a structured mail from E-mail ID

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noreply@[Link] on the days as mentioned above along with statistics.
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HO:BR:113:245 DATED 13.10.2021
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CHEQUE RELATED FRAUD AT SERVICE BRANCHES/ BRANCHES
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During the analysis of cheque related frauds of below Rs.2.00 Lakh passed at Service Branches,
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our Bank has observed that various cloned cheques were presented in some government
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accounts in a very short span of time. Our Bank has thus advised that following points should
be adhered to by all services branches, CBOs and Branches:
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1. Cheques should be returned with correct reasons duly mentioning the caution, for the
necessary precautionary measures by collecting bank.
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2. If any warning like 'cheque not issued' or 'cheque already passed' is observed immediate
action should be taken, like, contacting the customer or presenting bank, freezing the account
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and destroying the remaining cheques after consulting the customer & issuance of fresh cheque
book without charges.
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3. Such incident should be immediately reported as attempted fraud.

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4. If the customer calls repeatedly, the branch officials should not succumb to pressure & laid
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down guidelines must be followed before passing the cheques.

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5. All the branches must print the Off sol report daily as per specified frequency.
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HO:BR:113:247 DATED 13.10.2021

INOPERATIVE /DORMANT ACCOUNTS AND UNCLAIMED DEPOSITS - DISPLAY OF LIST OF
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INOPERATIVE ACCOUNTS ON BANK'S WEBSITE.

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Our Bank has shared the action points when a customer approaches/contacts branch with
Reference number and KYC documents to get the account activated/closed.
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 Get the details of customer by entering reference number given by the customer in the
menu option HINOPAC in Finacle. All the details such as customer-id, account number,
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Name, address, balance etc., will be displayed on the screen.

 Verify the details with photo identity of the customer.
 No information on balance in the account should be disclosed to the customer without
verifying his identity.

Prepared by Research Team, Baroda Apex Academy Page 4 of 30

  Lodge the claim in the system, after following the existing procedure/guidelines of KYC
norms such as obtaining the application, reasons for not operating account, Photograph,
identification documents etc.
 In case customer want to close the account, branches should follow bank's extant

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guidelines for closure of accounts after claim is received as mentioned at point no.4.

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HO:BR:113:248 DATED 14.10.2021
RECORDING OF DETAILS OF TRANSACTIONS IN PASSBOOK/STATEMENT OF ACCOUNT.

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Our Bank has shared standard narration to be used while recoding transactions manually in
Passbook or Statement of accounts of the customers. This is in compliance to RBI advisory and

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ensuring uniformity in implementation of same. Illustrative narrations for indicative transactions

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have been provided for both Debit and Credit entries and branches are requested to use similar
type of narration be mentioned in other transactions as well.

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HO:BR:113:250 DATED 18.10.2021

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ANOMALIES OBSERVED IN ACCOUNTS OPENED UNDER SCHEME SB 150 AT BC POINT

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Our Bank has informed that it has come to the notice of RBI officials during inspection of our Bank

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that BCs and Branches are not strictly adhering to the guidelines of account opening at BC Point
and are taking lenient approach, which is not acceptable. Bank has therefore shared few of the

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common anomalies observed in account opening of BSBD/PMJDY at BC points and non-

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adherence of guidelines by link branches. Clarification/reiteration of the guideline is also

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provided for quick reference. D
Bank has therefore requested all branches with BCs attached to them, to strictly adhere to the
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guidelines for account opening at BC Point, vigilant at all times and monitor the transactions in
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BC Settlement account on daily basis. Any deviation from the above is against the KYC AML
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guidelines of RBI will put the Bank to reputational risk.

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HO:BR:113:254 DATED 21.10.2021

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"SPECIAL PERSONAL LOAN TO BOB RETIRED EMPLOYEES FOR RENEWAL OF GROUP

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HEALTH INSURANCE UNDER IBA MEDICAL INSURANCE SCHEME: 2021 - 2022

Referring to earlier circular on "Special Personal Loan to BOB staff pensioners" to facilitate
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pensioners for payment of the yearly premium of their Medical Insurance Policy, our Bank has
informed that it is decided to increase the loan amount to premium amount or Rs. 54000/-
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whichever is less and can be repaid in maximum of 10 EMIs. Those Retired Officers / Award Staff/
Family Pensioner, who wish to avail loan may approach their pension paying Branch. The Loan
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disbursed amount would be credited by the Branch to Pensioner's saving account, in which the
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monthly pension is being credited and the premium amount to be debited.

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HO:BR:113:255 DATED 22.10.2021

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ONLINE VALIDATION OF AADHAAR, DRIVING LICENSE & VOTER ID

Our Bank has observed that that Document/Reference ID of Officially Valid Documents (OVDs)
available in branch record/Finacle system does not exist on portals of concerned department. In
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other cases, junk values are enriched in OVD Document/Reference ID fields. This is also one of
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the major reasons of non-compliance and ultimately resulted into deficient KYC updation in our
CBS system. Bank has therefore advised all the branches/offices to additionally validate the
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information in case of following OVDs, wherever available, before enriching the related
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information in respective system during account opening / KYC updation, without fail.
 Aadhaar from [Link] where e-KYC is not being carried out.
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 Driving License from [Link]

>Select State Name > DL Extract > Continue > Enter DL number & DOB > Get DL Details. In
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case of OLD type DL where for example DL No. is 1111/2003 and licensing authority is
Agra (UP) the same should be entered as UP8020030001111 where first two character
represent State, 3rd & 4th character represent city, 5 th to 8th character represent year of
issuance and remaining character represent DL number. Please use O before DL number
to make total length to 15 character.
Prepared by Research Team, Baroda Apex Academy Page 5 of 30
  Voter ID card before accepting as OVD from [Link] > Search in Electoral Roll>
Search by EPIC No (Enter 10 digit Elector Photo Identity Card).
The concerned officer who will validate OVDs shall affix stamp on AOF I Re-KYC Form I KYC
updation Form and copy of the OVD itself to above effect invariably with his/her signature, Name

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and E.C Number mentioning that he/she has carried out the available validation.

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HO:BR:113:256 DATED 22.10.2021
INTRODUCTION OF NEW MENU "DDBCX" FOR CANCELLATION OF CBS DEMAND DRAFT
AND BANKERS CHEQUE FALLING UNDER THE CASE OF I} OPERATIVE ACCOUNT OF

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PURCHASER IS CLOSED. II} CBS DEMAND DRAFT/ BANKERS CHEQUE IS ISSUED IN CASH

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FOR ABOVE RS. 20,000 AND BELOW RS. 50,000.

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Our Bank has observed that Branches are facing difficulties in cancelling the CBS Demand Draft
and Bankers Cheque through " HDDC " menu as the purchaser account (mentioned while issuing

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the CBS Demand Draft and Bankers Cheque) cannot be changed in following two cases/scenario:

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i) Operative account of purchaser is closed.

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ii) CBS Demand Draft/ Bankers Cheque is issued in cash for above Rs. 20,000 and below Rs.

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50,000.

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To overcome this issue and to make payment to purchaser on request for cancellation of DD/ BC,

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a new menu "DDBCX" is made live w.e.f. 20-10-2021. If the customer is not maintaining any

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operative account with us, the payment to the customer can be made by Demand Draft/Bankers
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Cheque only where beneficiary name (payee) will be same as Purchaser of the Cancelled DD
(Drawer of cancelled DD). In no Case other method of payment should be used such as
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RTGS/NEFT.
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HO:BR:113:257 DATED 22.10.2021

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OPERATIONAL GUIDELINES FOR SUSPENSE ADVANCE TO STAFF

To facilitate monitoring and ease of operation, our Bank has opened two staff advance suspense
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accounts one for LFC and other for TEDA which shall be invoked for specific purpose and the
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entries shall be passed centrally through HR Connect.

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i) Suspense account -Staff Advance for LFC (XXXX0026501146)

ii) Suspense account -Staff Advance for TEDA (XXXX0026501147)
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Presently these accounts are inoperative. After operationalizing of the above accounts, Suspense
Advance to Staff other than above two accounts will be debited by Branches through R-Menu
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only. Approving authority for R-Menu will be Regional HR Head / In-charge. Bank has also shared
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operational guidelines for usage of the new accounts.

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HO:BR:113:258 DATED 25.10.2021

VERIFICATION OF TRANSACTIONS THROUGH R-MENU
Our Bank has advised that the transactions routed through R-menu should be verified in the
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system not below the rank of Chief Manager with the permission of RM/DRIM and proper record
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of above has to be maintained. Regional Offices are advised to enable them to check/verify these
entries at their end in R-Menu by executive not below the rank of Chief Manager/ORM/RM.
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HO:BR:113:263 DATED 30.10.2021 -

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INTRODUCTION OF LEGAL ENTITY IDENTIFIER (LEI) FOR LARGE VALUE TRANSACTIONS IN

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CENTRALISED PAYMENT SYSTEMS W.E.F. 01.04.2021.

Our Bank has informed that The capturing of LEI has been made mandatory w.e.f 29.10.2021
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under Sender and Receiver Information in HPORDM menu for large value transactions in
Centralised Payment Systems for Rs. 50 Crore and above. The branches are advised to educate
eligible customers to obtain LEI to be quoted in future transactions. Our Bank has also shared the
list of eligible entities along with the Job Card and updated FAQs for operational convenience of
the field functionaries.

Prepared by Research Team, Baroda Apex Academy Page 6 of 30

 HO:BR:113:264 DATED 30.10.2021 -
GUIDELINES ON PREVENTION OF FRAUDS DURING PAYMENTS OF CHEQUES AT CBOs
/BRANCHES.

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Our Bank has observed that cheque related frauds are increasing day by day in the inward

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clearing operations as well as in the Intersol payments. Most of the frauds are being observed in
Govt. Accounts, by presenting cloned cheques for below Rs.02.00 Lacs. In fact, SIM cloning cases
are also being observed, wherein, fraudsters have confirmed the cheques for passing or
pressurized branches to pass/confirm the cheque for payment. To curb such cheque frauds, our

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Bank has reiterated prevailing guidelines to be strictly adhered to.

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HO:BR:113:265 DATED 30.10.2021 -
COMPLIANCE OF FATCA-CRS GUIDELINES IN DEPOSIT ACCOUNTS

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Our Bank has observed that despite continuous efforts to educate and guide the Officials of the
operational units since long, some of the branches are not still complying with the FATCACRS

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guidelines regarding obtaining FATCA-CRS declaration from the customers, enriching the

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correct & complete information of the same through "HFATCA" menu in Finacle while opening
new accounts as well as modification in the existing accounts.

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Our bank has therefore advised follow the guidelines as under:

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 Account of NRls should mandatorily to be opened in NRE/NRO/FCNR category and not

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as domestic accounts.
 In case of pre-existing customers (accounts opened up to 30-06-2014), if customer
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submit the change in circumstances (any modification request in account), the branch to
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obtain fresh self-declaration from the customer and enrich the same in Finacle through
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"HFATCA" menu.
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 In case of New customers (accounts opened on or after 01.07.2014), branch to invariably

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obtain the self-declaration in the prescribed format with the account opening form and
enrich the same in Finacle through "HFATCA" menu.
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 FATCA-CRS declaration must be obtained from the customers and it is to be kept in

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record of the branch along with the Account opening Form.

 If the account is opened through RBO, copies of the FATCA-CRS declaration is to be kept
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at the record of branch super scribing account number and Customer ID thereon.
 Branches to generate the report through "FATCARPT" menu (BOB) periodically i.e. on
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monthly basis and enrich the information of FATCA CRS declaration obtained from
customers, wherever the same is not enriched in CBS as per the report.
 FATCA-CRS declaration is to be obtained from each main account holder as well as joint
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holders separately.
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 Whenever a customer declares him/herself as citizen/ resident tax resident of any

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country other than India, obtain complete information as per self-declaration form with
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requisite documents and capture the same in Finacle through "HFATCA" menu.
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Prepared by Research Team, Baroda Apex Academy Page 7 of 30

 BCC Circulars
BCC:BR:113:594 DATED 01.10.2021 ( Click the Icons to access full circular)
INTEREST RATES FOR SMALL SAVINGS SCHEMES.

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This has reference to Office Memorandum no. [Link].1/4/2019-NS dated 30.09.2021 issued by

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Department of Economic Affairs, Ministry of Finance, Government of India wherein, it has been informed
that the interest rates for the third quarter of F.Y. 2021-22 (Q3) i.e., 01.10.2021 to 30.12.2021 for Small
Savings schemes shall remain unchanged from those notified for the third quarter of F.Y. 2021-22

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(01.10.2021-to-31.12.2021).

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Accordingly, the interest rates for Small Savings schemes are as under:

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Instrument ROI for Sept ,21 ROI for Dec,21 Quarter Compounding
Quarter Frequency

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SSC Scheme 7.4 7.4 Quarterly and Paid

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PPF Scheme 7.1 7.1 Annually
SSY (Sukanya 7.6 7.6 Annually

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Samriddhi)

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KVP 6.9 (mature in 124 6.9 (mature in 124 Annually

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months) months)

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BCC:BR:113:595 DATED 04.10.2021
ESTABLISHMENT OF CORPORATE ETHICS DEPARTMENT
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Bank has referred to MD and CEO's communication dated August 10, 2021, regarding launch of the
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Corporate Ethics Function in the Bank and give below the address and phone numbers for
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communicating with the department:

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Corporate Ethics department,

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Bank of Baroda,
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Baroda Corporate Centre,

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C wing, 2nd floor, Laxmi Tower,

C-25, G Block,Bandra Kurla Complex,
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Mumbai-400051.
E-mail: [Link]@[Link]
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The Bank has given below the updated contact details of the officials of the department:
Sr. no. Name Designation Landline Mobile
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01 Mrs. Jayanthi Bhat DGM 022-68843915 8291086615

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02 Mrs. Rupali Aneja CM - 9642608600

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03 Mr. Milind Pawar SM 022-68843904 9910224598

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BCC:BR:113:599 DATED 01.10.2021

SIP DAY to be observed on every Thursday under "SIP - Mission Million Festival".
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Our Bank had launched "SIP - Mission 1 Million Festival", with an objective to achieve 10 Lac SIP Book
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in our Bank's portfolio by 31/12/2022.

To increase the SIP numbers significantly with consistency it has been decided to celebrate every
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Thursday as "SIP Day" wherein the operational units are required to focus their efforts in adding more
and more new SIPs.
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ed

BCC:BR:113:600 DATED 04.10.2021

EXERCISING ENHANCED DUE DILIGENCE (EDD) FOR NRI CUSTOMERS
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Enhanced Due Diligence is a KYC process that provides a greater level of scrutiny and looks to establish
a higher level of identity assurance by obtaining the customer's identity and highlights risk that cannot
be detected by customer due diligence. This higher level of due diligence is required to mitigate the
increased risk.

Prepared by Research Team, Baroda Apex Academy Page 8 of 30

 NRIs are high risk customers and subject to Enhance due diligence as per our Bank's KYC-AML policy
approved at Board level. So ultimate responsibility of Enhance Due diligence lies with the branch where
account is being opened and where account holder holds the account.

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BCC:BR:113:601 DATED 06.10.2021

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REVISION IN BARODA REPO LINKED LENDING RATE (BRLLR) DUE TO THE CHANGE IN
MARK-UP/BASE SPREAD FOR ALL NEW FLOATING RATE PERSONAL OR RETAIL LOANS (HOUSING,
AUTO ETC.) AND FLOATING RATE LOANS TO MICRO, SMALL AND MEDIUM ENTERPRISE LOANS
W.E.F 07TH OCTOBER ' 2021.

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Baroda Repo Linked Lending Rate (BRLLR) will comprise of: RBI Repo Rate + Mark-Up/Base Spread.

D
ED
The Bank has now decided to revise the Mark-Up/Base Spread component of BRLLR from 2.75% to
2.50% with effect from 07th October 2021 for all new loans linked to BRLLR. As such, the BRLLR is

R
reduced by 25 BPS i.e., from existing 6.75% to 6.50%, which is applicable from 07th October 2021.

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Accordingly the rate offered under External Benchmark Linked Loans to Retail /Micro Small and

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Medium Enterprise Loans will be as under:

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Particulars w.e.f 07th October 2021
External Benchmark- Prevailing RBI Repo 4.00% (Current)

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Rate [A]

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Mark-Up/Base Spread [B] 2.50% (Revised)
Baroda Repo Linked Lending Rate 6.50%
A
(BRLLR)[A+13]
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The applicable Strategic Premium and Credit Risk Premium will be charged over and above the BRLLR
A

of 6.50%.
N
A

However, all new floating rate Personal or Retail loans (housing, auto etc.) and floating rate loans to
Micro, Small and Medium Enterprise Loans w.e.f. 07th October 2021 will carry the Mark-Up / Base spread
K

of 2.50% and the same will remain constant for the particular borrower's loan facility for a period of three
VE

years from the date of first disbursement. The applicable BRLLR in case of new loans is 6.50% [Repo
Rate 4.00%+ Mark-Up/ Base Spread 2.50%].
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BCC:BR:113:602 DATED 07.10.2021

RETAIL LOANS: REVISION IN APPLICABLE RATE OF INTEREST W.E.F. 07.10.2021.
U

It has now been decided by Bank to revise the Rate of interest in Retail Loan products w.e.f 07.10.2021.
D

All other guidelines in respect to Rate of interest in Retail Loan products i.e. concession in ROI, change
in spread due to change in CIBIL score in Home Loan accounts on due date of review, change in mark-
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up after 3 years etc. will continue as it is.

YE

Branches to ensure to add restructure spread of 0.35% (above card rates) in accounts wherein the
resolution framework due to COVID-19 stress has been invoked and implemented/ to be implemented
in accordance with the guidelines contained in circular BCC: BR:121/589 dated 03-10-2020.
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Bank has shared ROI of Various Retail Loans in table manner in this circular.
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BCC:BR:113:603 DATED 07.10.2021

RETAIL LOAN : APPLICATION OF NEW INTEREST TABLE CODES W.E.F 07.10.2021
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As per the circular no. BCC:BR:113/601 dated 06.10.2021 issued by Risk Management
Department, there has been a change of BRLLR following the revision in 'Mark-up rate' from 2.75% to
ad

2.50%, effective from 07.10.2021. Retail Banking Department has also issued circular thereby advising
the revised Rate of lnterest applicable on various Retail lending products vide [Link]/602 dated 07
.10 2021
Therefore, in order to give effect of revision of interest rates in the system, new interest table codes have
been created. Accordingly, Operating units are advised, to use following interest table codes at the time
Prepared by Research Team, Baroda Apex Academy Page 9 of 30
 of opening of fresh accounts/ conversion of existing accounts from BPLR/ Base Rate/MCLR based
pricing system to BRLLR based pricing system.

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ED
BCC:BR:113:606 DATED 07.10.2021

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PREVENTIVE VIGILANCE
During the recent times, several instances of different types of frauds have come to light and while

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analyzing the cases, it is observed that our operational units are not observing the systems and

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procedures in advance accounts meticulously. The deficiencies relate to opening of accounts, in the area
of exercising due diligence, creation of charges on securities, monitoring of the accounts etc.

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When the account starts showing sticky tendencies and the branch resorts to recovery measures, at that

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point of time many deficiencies come out jeopardizing the interest of the Bank and creating avoidable

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unpleasant situation to our staff members also. Our Vigilance Department has reported such recent
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frauds to the Reserve Bank of India in FMR1 and the Fraud Monitoring Return (FMR) (FRNo: BOB-2003-
0045 to BOB-2102-0055). Summary observations of these frauds are given in tabular form by the Bank
N
in this circular.
A
N

BCC:BR:113:607 DATED 07.10.2021

A

RETAIL LOANS - RECENT CHANGES IN ROI IN RETAIL ADVANCES

K

This has reference to the circular number BCC/BR/113/601 dated 06-10-21, regarding change in BRLLR
VE

and BCC/BR/113/602 dated 06-10-21, w.e.f 07-10-21 regarding change in credit spread in various retail
loan product.
VI

The approved modifications/changes might still be in progress to get affected in LLPS system,
therefore it is advised that Branches /CPC/offices should cross verify the modified ROI in sanction
LA

letter with the above guidelines and ensure that the offered rate is in-line with above circular before
sanction is accorded to customers.
U

lf any differences are observed, suitable corrections to be made manually in sanction letter
accordingly by writing following para in appraisal note (not in sanction letter)
D
D

"Due to time lag in affecting revised ROI in LLPS, The system fetched ROI is found different than the
YE

calculated ROI based on guidelines mentioned in BCC/BR/1L3/607 dated 06-10-21, BCC/BR/113/602

dated 07-10-21 and running festival concessions. The Rot is accordingly modified as BRLLR + Credit
Risk+...... i.e. ....,,. + ......,.. + ..,....... Effectively ......%”
r.
M

BCC:BR:113:608 DATED 07.10.2021

BARODA REPO LINKED LENDING RATE (BRLLR) FOR REGULATORY MSME SEGMENT - REVISION
y:

IN MARK UP WITH EFFECT FROM 07.10.2021

B

ALCO in its meeting dated 30,09.2021 had approved reduction of 0.25% in mark up and accordingly the
mark-up stands reduced from 2.75% to 2.50% w.e.f.07.10.2021. Accordingly, two new interest table
ed

codes LOC21 and ROC21 are created for loans and working capital respectively.
ad

Applicable Repo Rate Linked interest table Codes [BRLLR] in Finacle:

At the time of account opening the branches are requested to ensure that they select the correct interest
table codes as under for Regulatory MSME accounts.

Prepared by Research Team, Baroda Apex Academy Page 10 of 30

 Y
.(V
Y
D
ED
R
BCC:BR:113:609 DATED 12.10.2021

R
PREVENTIVE VIGILANCE - MODUS OPERANDI OF RECENT FRAUD COMMITTED IN GOLD LOAN

A
PRECAUTION AND SAFEGUARDS TO BE FOLLOWED FOR AVOIDING SUCH RECURRENCE.

M
Modus Operandi of frauds perpetrated / attempted in Gold Loan is shared with branch to create

U
awareness among the operating units and to be more vigilant in the day to day operations.

K
This serves as an effective measures for preventing recurrence thereof, Non-adherence of stipulated

A
guidelines and procedures has made it possible for miscreants to subvert existing systems and
D
procedure. Accordingly Bank has shared the modus operandi for recent incidents in this circular.
N
BCC:BR:113:610 DATED 07.10.2021
A

INCREASE IN MAXIMUM LOAN AMOUNT UNDER BARODA AUTO LOAN SCHEME

N

With a view to increase sales penetration of high-value car finance segment with a lower TAT, a need is
A

felt to decentralize the finance decision at Zone/Region level and to increase loan limit under the scheme.
K

Accordingly, loan limit under Baroda Auto Loan Scheme is revised as under :
VE
VI
LA
U
D
D
YE

The Branch/Region/Zone to take prior approval from Competent Authority for car loan exceeding
aforesaid limit.
r.

The maximum permissible auto loan limit per party per year to a Corporate i.e. from date of previous
M

review to next regular review is accordingly revised from Rs.1 crore to Rs. 5 crore. . This increased loan
limit is applicable for new car loan financed under Baroda Auto Loan Scheme. The limit of used car will
y:

remain unchanged as per circular no. BCC/BR/113/545 dated 14.09.2021 of Baroda Auto Loan for Pre-
B

owned Car scheme.

ed

BCC:BR:113:611 DATED 08.10.2021

ACCESS TO ADVOCATE'S PORTAL –THROUGH DOMAIN ID BY BANK'S EMPLOYEES
ad

The policy mandates that the bank will have one dedicated portal for inviting application from practicing
advocates for empanelment, which will be opened twice in year that is from '1st to 15th May and 1't to
15th November for the said purpose.

Prepared by Research Team, Baroda Apex Academy Page 11 of 30

 Accordingly, the portal was launched on 26-02-2021 for acceptance of new application for
empanelment and registration of existing empaneled advocates" So far we have around 5,000
advocates, enrolled/registered on our portal, across India.

Y
Below are the Salient features of the portal:

.(V
1. Every officer can view the updated list of empaneled advocates.
2. The user can view the credential and area of expertise of all advocates.
3. The list of empaneled advocates can be filtered on the basis of zone and cities.

Y
Guidelines to access the empanelment portal:

D
ED
The said portal can be accessed through finacle and internet system. The following link should be used
to access the admin panel of the portal.

R
[Link]

R
A
Please use your domain id and password to access the portal. For any help/ clarification you may reach

M
to us on 022-66985514 or email us at [Link]@[Link]

U
Important note:

K
Henceforth, please ensure that the name of the advocate is reflected in the list of empaneled advocates

A
at the aforesaid online portal, before assigning any work to the advocate.
D
BCC:BR:113:612 DATED 08.10.2021
N
BARODA GEMS : QUARTERLY PERFORMANCE FOR OFFICERS /EXECUTIVES FOR FY2021-22
A

At present, the officers' appraisal are done annually based on the Performance of their role during the
N

year. However, the quarter wise performance weightages are not considered in the final appraisal. As
A

per the EASE 4.0, from this financial year onwards all the PSBs need to have a mechanism of quarterly
appraisal of officers.
K
VE

Hence, a decision has been taken that from this financial year onwards, the appraisals of all the
officers/executives shall be carried out on quarterly basis and the weightages of the quarterly
VI

performances shall be considered in the annual appraisal. The methodology for inclusion of quarterly
performances is detailed at point are given in this circular.
LA

BCC:BR:113:613 DATED 11.10.2021

RETAIL LOANS - CATEGORY BASED APPLYING OF ROI IN HOME LOAN – CLARIFICATION
U

We request reference to the circular number BCC:BR:113:602, dated 07.10.2021 communicating revision
D

in rate of interest in Retail Loan products w.e.f. 07.10,2021. ln the said circular, separate rate of interest
D

is communicated for non-salaried borrowers. With reference to above matter, the rate of interest to be
YE

applied as under:

1. where there are more than one applicant ROl to be Applied as under:
r.

Case Applying ROI

M

lf the total portion of salary income considered for eligibility Apply rate of interest for
of all the applicants are more than 50% of total income salaried class
y:

considered
B

lf the total portion of non-salary income considered for Apply rate of interest for non-
eligibility of all the applicants are more than 50% of total salaried class
ed

income considered
ad

2. In case of single applicant and having multiple source of income (salaried as well as Non-
salaried), same principle as mentioned in serial number 1 to be applied.
3. In case of non-individual applicant in takeover cases, income of non-individual applicant/co-
applicant will be considered in non- salaried category.

Prepared by Research Team, Baroda Apex Academy Page 12 of 30

 4. In case of takeover of Home Loan without income document, for the purpose of classification of
borrower into salaried/non-salaried, income declared in application form to be accepted and
accordingly ROI to be decided as mentioned in point no. 1 above.
5. In case a source of income of an applicant is different in 2 years, the latest source of income to

Y
be assumed for the purpose of classification of borrower into salaried/non-salaried category.

.(V
6. In case an individual is drawing salary/remuneration from his/her own business entity (firm,
company, trust etc), then source of income will be treated as non-salaried for the purpose of
applying rate of interest.

Y
BCC:BR:113:616 DATED 08.10.2021

D
ADDENDUM TO CIRCULAR NO. BCC: BR: 113:605 DATED. 07.10.2021

ED
This has reference to circular BCC:BR:113:605 issued on 07.10.2021 related to Launch of MSME
campaign namely "MSME Utsav”. Bank has clarified certain changes/additions also.

R
BCC:BR:113:617 DATED 11.10.2021

R
LAUNCH OF DIGITAL MUDRA JOURNEY ON BANK'S DIGITAL LENDING PLATFORM-II

A
Introduction to Digital Mudra journey on DLP-II:

M
Digitization of loan products & processes is one of the key priorities of our Bank in order to capitalize on
the rapidly evolving 'Digital First' paradigm of banking and secure a leadership position in country's

U
growing digital lending space. With a view to optimize the extent of digitization in line with the planned

K
Digital First operating model, the Bank has commenced the phase-wise rollout of end-to-end Digital

A
Mudra journey hosted on Bank's Digital Lending Platform- II i.e. DLP-II (URL:
D
[Link] The Digital Mudra journey hosted on DLP- II would be an end-
N
to-end process from lead generation to sanction, and subsequently to disbursement, enabling a
A

customer to experience a hassle-free Straight through Process (STP)/Near STP journeys.

N

Phase wise rollout of the Digital Mudra Journeys on DLP-II:

A

With a view to adopt a gradational approach in pushing digitization across loan product/processes,
K

rollout of Digital Mudra journeys on DLP-II is planned in a phased manner- both in terms of number of
VE

journeys to be made available as well as the journey end-points. Following is the proposed structure of
the phase wise rollout:
VI

Phase I: Shishu Mudra Web journey (for Micro & Small Enterprises having Udyam Registration) up to
Sanction stage in Self mode [Launched vide Circular Ref. No. BCC:BR:113:443 dated 23.07.2021]
LA

Phase II: Kishore/Tarun Web journey (for Micro & Small Enterprises having Udyam Registration) up to
U

Sanction stage in Self mode [Being launched vide this Circular]

D

Subsequent Phases: Shishu/Kishore/Tarun web journey up to disbursement, Mobile App native journeys
D

up to Disbursement stage, Journeys for Non-Udyam borrowers beyond lead generation, and Assisted
YE

modes of all the journeys. ·

BCC:BR:113:618 DATED 11.10.2021

r.

COMPLAINTS REGARDING MISMATCH IN FD MATURITY AMOUNT IN FD RECEIPTS AND

M

MATURITY AMOUNT CREDITED IN THE ACCOUNT.

Bank has been observing that a large number of complaints are being received from branches stating
y:

that there is difference in the maturity amount actually credited in the customer’s account vis-à-vis
B

maturity amount printed on the deposit receipt.

ed

In this regards banks wish to bring to our notice that

1) Whenever a FDR is issued , the maturity value mentioned in the FDR is without considering the
ad

effect of TDS and interest applicable on TDS

2) TDS is generally deducted and remitted to Govt., when the interest amount on FD crosses the
threshold limit for TDS subsequently interest calculation will be applied on the principle
amount+ (Interest Accrued –TDS).

Prepared by Research Team, Baroda Apex Academy Page 13 of 30

 Accordingly FDR maturity value credited in customer’s account will generally be lesser than the value
mentioned in FDR and there will be difference in the maturity amount credited and maturity value
printed in FDR as interest will not be calculated on amount deducted as TDS.

Y
BCC:BR:113:619 DATED 11.10.2021

.(V
MASTER CIRCULAR OF RBI ON PRUDENTIAL NORMS ON INCOME RECOGNITION, ASSET
CLASSIFICATION AND PROVISIONING PERTAINING TO ADVANCES
Bank has implemented the automation of IRAC process from 01.06.2021 which was advised vide
BCC/BR/113/302 dated 31.05.2021.

Y
D
The system based Asset classification, interest reversal & provisioning as part of day end process

ED
considering all the directions of RBI is implemented from 1st June 2021 for Domestic, International &
Treasury Operations of the Bank. Degradation/ Upgradation of Borrowers are also identified based on

R
common PAN across Domestic, International & Treasury Operations of the Bank.

R
Action points for operational units:

A


M
The daily Degradation/ Upgradation files are available for Domestic, International & Treasury
Operations of the Bank in the QLIK platform under CREMON folder. The SMA files both technical

U
& financial are updated on QLIK platform on daily basis

K
 Branches/Regions /Zones & Territories need to check these files on daily basis, recover the dues

A
on daily basis, avoid degradation of accounts & report for any discrepancy in these files to us.
 It is also to be ensured that review of accounts takes place and updated in system on time to
D
prevent the accounts from degradation as per daily asset classification guidelines.
N
 Stock and book debt statement also needs to be updated in system in time as per guidelines.
A

 Branches /Regional/Zones & Territories to inform /educate the customers for the impact of daily
N

degradation.
A

Branch/Region/Zone & Territories to take note of the RBI Circular dated 01/10/2021 for asset
classification, based on the files shared in Qlik platform for maintaining the healthy asset quality of the
K

Bank.
VE

BCC:BR:113:621 DATED 12.10.2021

VI

CGTMSE - MODIFICATION IN CGSL- ALLOWING GUARANTEE COVERAGE ANYTIME DURING THE

TENURE OF LOAN.
LA

To have flexibility and keeping in mind the growth in MSE sector, CGTMSE has now provided
relaxation in timeline for application lodgment to MLIs vide Circular 187/2021-22 dt 08.10.2021.
U

The modification in Credit Guarantee scheme for allowing guarantee coverage anytime during the
D

tenure of Loan, is subject to –

D
YE

 The credit facility is not restructured.

 The Account has not remained on SMA2 status in last 1 year from the date of submission of
application in portal.
r.
M

Though, CGTMSE guidelines have provided flexibility to avail guarantee cover for fresh credit
proposals, however as a matter of prudence, we advise the operational units to take the CGTMSE
y:

coverage for eligible cases as soon as the credit facility is sanctioned.

B
ed

BCC:BR:113:622 DATED 12.10.2021

INTRODUCTION OF FINACLE MENU “PANMAS” FOR COMPLIANCE OF SECTION 206AB AND 139AA
ad

OF INCOME TAX ACT, 1961

To ensure compliance of section 206AB, Bank is required to keep status of “Specified Person” for all
unique PAN available in place before making any payment under specified sections which falls under
the purview of sec 206AB. As of now, the Bank was not having a front end menu for capturing necessary

Prepared by Research Team, Baroda Apex Academy Page 14 of 30

 details to ensure compliance of sec 206AB and status for newly created vendors (in VENPAY menu) and
suppliers (in FASSET menu) were being updated through back end on weekly basis.

Looking at the difficulties faced by Branches/Offices in the existing practice, the bank has now

Y
developed the “PANMAS” menu, which has also been made available to Branches/Offices, to capture
necessary details as per sec 206AB. Accordingly the practice of updating status from back end on weekly

.(V
basis shall be discontinued with immediate effect and Branches/Offices shall be required to update the
status using PANMAS menu only.

Y
BCC:BR:113:623 DATED 12.10.2021

D
PROVIDING COMPLIMENTARY SERVICE OF SUBMISSION OF LIFE CERTIFICATE TO THE

ED
PENSIONERS OF CENTRAL/STATE GOVT. ETC. UNDER PSB ALLIANCE DOORSTEP BANKING
SERVICES FOR FY 2021-22 AS ONE TIME FACILITY

R
Looking to the hardships faced by the very agedly pensioners to visit the Bank branches for submission
of life certificate during the pandemic times and also due to their age and health conditions, the Bank

R
has come up to offer the submission of Life Certificate by through PSB Alliance - Doorstep Banking

A
service. Further, The Bank is celebrating the International month of Elderly Persons 2021 for the entire

M
month of October 2021 and has issued communication vide email dated 30.09.2021 In the month of

U
October, a total of 3 service request inclusive of submission of form 15G/H, Life certificate and TDS

K
certificate under Doorstep banking will be offered on a complimentary basis to Super Sr. Citizen
customers of the Bank who are 80 years & above.

A
D
N
BCC:BR:113:624 DATED 13.10.2021
A

WITHDRAWAL OF ADDITIONAL STIPULATION IN BARODA CRE HOME LOAN GUIDELINES

In view of feedback received from the operating units, it has been decided that the conditions stipulated
N

vide circular number BCC:BR:113:226, dated 26.04.2021 are withdrawn for all CRE Home Loans. These
A

conditions are as follows:

K
VE

(i) Minimum CIBIL score should be 725.

(ii) No deviation to be allowed in FOIR, Age and income parameters.
VI

(iii) Additional 5% margin, than normal Home Loan, to be ensured in all categories (i.e. margin of
10%, 20% and 25% to be increased to 15%, 25% and 30% respectively, depending upon loan
LA

amount).
U

BCC:BR:113:625 DATED 12.10.2021

D

FOCUSED APPROACH ON SOURCING OF AUTO LOAN LEADS FROM THE DEALERS OF POPULAR
D

BRAND OF OEM.
As per recent news populated in media, there were 50,000 Mahindra XUV700 car booked in quick time
YE

which has created big opportunity for increasing our auto loan portfolio. Therefore, operational unit has
to formulate a suitable strategy to develop close tie with nearby Mahindra Car dealers to source
r.

maximum no of auto leads for Bank.

M

For the same. Bank has suggested followings :

 Entering into MOU with Mahindra Car Dealers.
y:

 Dedicated officer for each Mahindra Dealers at each city/location

B

 Zonal/Regional Team to contact each Mahindra Dealer periodically (minimum once in a

fortnight).
ed

 Identification of dedicated nearby branch (adequately staffed) for financing Mahindra Car with
minimum TAT.
ad

 Deployment of DST (wherever available) at Dealer’s shop for quick movement of loan leads.
 Resolution of TAT/Payout/ other issue of Dealers on priority by Region/Zone.
 Display of Vehicle at branches in coordination with Dealer,
 Weekend visit/ Locational camp at Dealer's place for lead mobilization.

Prepared by Research Team, Baroda Apex Academy Page 15 of 30

  Local publicity with Car Dealer
 Login Day for particular branch in sync with OEM.

BCC:BR:113:627 DATED 13.10.2021

Y
RETAIL LOANS - ACCEPTING -13- YEARS SEARCH REPORT OF THE PROPERTY INSTEAD OF -

.(V
30- YEARS FOR RETAIL LOANS UPTO RS.1.00 CRORE SECURED BY IMMOVABLE PROPERTIES
Bank has decided to accept -13- years Search Report (NEC) instead of -30- years in respect of mortgage
based Retail Loans up to Rs. 1 Crore except in some cases. Please refer the captioned circular for detailed
guideline.

Y
D
BCC:BR:113:628 DATED 13.10.2021

ED
CONSTRUCTION & MINING EQUIPMENT (CME) FINANCE PRODUCT PROGRAM - REVISION IN
GUIDELINES AND LAUNCH OF PRE-SANCTIONED CME LOANS FOR OUR HIGH RATED

R
BORROWERS
A new segment is also approved by CPC to meet CME finance requirement of our existing valued clients

R
(MSME & Corporate) by way of Pre-sanctioned Loan Limit. The objective of this segment is to provide

A
hassle free finance to our well rated borrowers engaged in construction & mining activity who require

M
equipment finance on continued basis for execution of the work-contracts.

U
Under this new segment, borrower can avail loan as and when required within overall preapproved limit

K
and need not go through the process of sanction / documentation every time for subsequent

A
requirements. D
Major Modifications are listed below:
N
1) Standalone Sanction (under Retail segment) by Nodal Branches up to Rs. 50.00 Lakh per borrower
A

without linking existing exposure for DLP purpose.

N

2) Standalone Sanction allowed to New Customer having Group Exposure

A

3) Sanctioning & Account opening for Retail Segment loans by any Branch other than designated nodal
branch, if applicant is existing customer of that Branch.
K

4) Decentralization of sanction process (Strategic segment) from Commercial Vehicle Finance Cell
VE

(CVFC) to SMELF / SME Branch/ Region/ Zone.

5) Restriction to finance CME asset only under this Scheme is no more applicable for our existing
VI

borrowers/project finance.
6) Takeover of CME loans availed by our A and above rated borrowers, allowed.
LA

7) Vertical Head authorized for addition / deletion of equipment mentioned in the eligibility list.

BCC:BR:113:630 DATED 16.10.2021

U

GUIDELINES FOR BULK DEPOSIT

D

It was decided to identify one branch in each Region for accepting bulk deposits of INR 10 Crore and
D

above. Accordingly, Zones/Regions have identified One branch per region of Bulk deposits of INR 10
YE

Crore and above. All CFS branches are authorized to accept the bulk Deposits irrespective of the amount.

BCC:BR:113:631 DATED 13.10.2021

r.

COMMERCIAL VEHICLE (CV) FINANCE PRODUCT PROGRAM- REVISED GUIDELINES

M

Based on feedback from field functionaries and keeping in view market scenario, some product
guidelines have been rationalized/ modified (approved by CPC on 28.09.2021 Agenda No.A- 22). The
y:

major modifications are given as under:

B

1. School Bus Contractor segment is removed and such transporters shall be financed under Retail /
ed

Strategic segment.
2. LTV for Fully Build vehicle decreased to 90% if moratorium is allowed
ad

3. LTV for financing Body - Structure reduced to 60% from 75%.

4. Maximum loan amount celling in terms of number of vehicles also stipulated.
5. Restriction to finance CV under this Scheme is no more applicable for our existing Borrowers / Project
finance.
6. SPV entity also allowed for finance under the scheme.
Prepared by Research Team, Baroda Apex Academy Page 16 of 30
 7. Strategic Premium added in ROI.
8. For low Scheme Scores, interest rate increased up to 175bps.
9. Decentralization of sanction process (Strategic segment) from Commercial Vehicle Finance Cell
(CVFC) to SMELF / SME Cell / SME Branch/ Region / Zone.

Y
.(V
BCC:BR:113 :633 DATED 16.10.2021
PRIORITY SECTOR LENDING –BANKS’ LENDING TO NBFCS FOR ON LENDING –EXTENSION OF
FACILITY
RBI vide its communication dated 08.10.2021 has advised the extension of facility of bank lending to

Y
NBFCs (other than MFIs) for on-lending to be classified as PSL till March 31 ,2022.

D
ED
BCC:BR:113:634 DATED 13.10.2021
LAUNCH OF DIGITAL JOURNEY FOR DSAS/ DEALERS FOR HOME LOAN AND CAR LOAN ON DIGITAL

R
LENDING PLATFORM-I
Bank has launched a new feature 'Partner Interface' as an extension to the existing functionalities of

R
Digital Lending Platform - Phase 1.

A
M
The interface aims to assist DSAs/Dealers for onboarding of prospective borrowers in the Digital Lending
Platform as well as well as assisting them in completing the loan application process digitally. On

U
completion of the journey, applicant can avail 'In-principle approval'. Further, DSAs/ Dealers/ applicants

K
can track the status of the applications.

BCC:BR:113:635 DATED 16.10.2021

A
D
DR. AMBEDKAR CENTRAL SECTOR SCHEME OF LNTEREST SUBSIDY ON EDUCATION LOAN FOR
N
OVERSEAS STUDIES FOR OBCS & EBCS - ACSISOBCEBG- LODGMENT OF CLAIMS FOR THE
A

QUARTER ENDED JUNE 2021 & SEP 2021

N

As per the instruction received from the Ministry and IBA, it has been decided to provide the opportunity
to Branches to lodge the claims from 18.10.2021 to 27.10.2021 (up to 05.00 p.m.) for eligible Education
A

Loan accounts under above mentioned scheme.

K
VE

BCC:BR:113:636 DATED 18.10.2021

FINANCING TO FARMERS FOR PURCHASE OF FOUR WHEELER I.E JEEP/STATION WAGON ETC.-
VI

CONCESSION IN PROCESSING CHARGES W.E.F 18.10.2021 TO 31.03.2022

Bank has decided to provide concession in processing charges on financing to Farmers for purchase
LA

of four wheeler i.e Jeep/Station Wagon etc. - concession in processing charges w.e.f 18.10.2021 to
31.03.2022.
U

The processing charges consequent upon the concession will be as under:

D

Loan Amount Applicable Charges after concession

D

Loam amount upto Rs.3.00 Lakhs NIL

YE

Loan amount above Rs.3.00 lakhs Rs.1500.00 + GST

BCC:BR:113:638 DATED 18.10.2021

r.

RENEWAL OF EXPORT CREDIT INSURANCE COVER FOR BANKS- WHOLE TURNOVER - PACKING
M

CREDIT I.E. ECIB (WT-PC) AND WHOLE TURNOVER - POST SHIPMENT I.E. ECIB (WT-PS) WITH
ECGC LTD.
y:

Our Bank has renewed the Export Credit Insurance Cover with ECGC Ltd as under:
B

a) Whole Turnover - Packing Credit i.e. ECIB (WT-PC) vide Guarantee No. 5037/2021-22
ed

dated 01-10-2021 and

b) Whole Turnover - Post Shipment i.e. ECIB (WT-PS) vide Guarantee No. 120/2021-22 dated
ad

01-10-2021.

Both policies are valid For the period from 01/07/2021 to 30/06/2022.

Please refer the captioned circular for the salient features of the guarantee scheme.

Prepared by Research Team, Baroda Apex Academy Page 17 of 30

 BCC:BR:113:639 DATED 20.10.2021
SPECIAL CATEGORY CODE FOR IDENTIFICATION OF COVID LOAN BOOK PERTAINING TO C&IC
VERTICAL

Y
As per extant guidelines, bank is required to submit information regarding “COVID loan book” to RBI

.(V
on a regular basis.

Accordingly, a special category code-“980”- for identification of loans sanctioned under COVID loan
book pertaining to borrowers of Corporate & Institutional Credit (C&IC) vertical has been created in

Y
Core banking Solution (CBS)/ Finacle.

D
ED
The steps to incorporate the special category code in the borrower accounts at “Account Level” through
HBAIM menu in CBS/Finacle is provided in the captioned circular.

R
BCC:BR:113:640 DATED 20.10.2021

R
SEPARATE FLAGS FOR IDENTIFICATION OF LCB ACCOUNTS IN CBS/FINACLE.

A
This is regarding sector-wise classification of Corporate Advance Accounts in Core Banking Solution

M
(CBS) /Finacle as per which accounts pertaining to C&IC vertical are identified by Account Label

U
codes (LC0001 to LC 0017) in CBS/ Finacle.

K
A
The structure of C&IC vertical has now been reorganized into Large Corporate & Mid Corporate, it
becomes pertinent to tag the accounts in system so that performance of both the sub-verticals can
D
be analyzed separately.
N
A

Accordingly, separate flags for Corporate Advance Accounts have been created in CBS/Finacle for
N

further identification under “Free Code 4” category as under:

A

Additional Flags Particular

K

LC Large Corporate
VE

MC Mid Corporate
SPSU State PSU
VI

CPSU Central PSU

LA

BCC:BR:113:641 DATED 21.10.2021

REVISION IN RATE OF INTEREST FOR NEW SCHEMES (LA-434, LA-435 & LA-436) IN TRACTOR
U

FINANCE & INTRODUCTION OF CREDIT LIFE INSURANCE COVER FOR ALL TRACTOR FINANCE
SCHEMES.
D

Bank has revisited the extant scheme guidelines and have proposed following changes/ modifications
D

in the existing scheme guidelines:

YE

1. Change in nomenclature of scheme LA-436 to Tatkal Tractor Loan – Based on KYC documents.
2. Revision in Rate of interest – ROI linked with LTV for all -03- New schemes of Tractor Finance.
3. Introducing Credit Life Insurance Cover (optional) in all Tractor Loan Schemes (both old & new).
r.
M

The updated scheme guidelines for New Tractor Finance Schemes (LA-434, LA-435 & LA-436) along
with introduction of Credit Life Insurance Cover for all variants of Tractor Loan Schemes is enclosed with
y:

the captioned circular.

B

BCC:BR:113:642 DATED 20.10.2021

ed

SOVEREIGN GOLD BOND SCHEME (SGB) 2021-22- SERIES VII/VIII/IX/X

Government of India, in consultation with the Resave bank of India, has decided to issue sovereign
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Gold Bonds' The Sovereign Gold Bonds will be issued in four tranches from October 2021 to March
2022 as per the calendar specified below:

S.N Tranche Date of Subscription Date of Issuance

01 2021-22 Series VII October 25-29,2021 November 02,2021
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 02 2021-22 Series VIII November 29- December December 07,2021
03, 2021
03 2021-22 Series IX January 10-14,2022 January 18, 2022
04 2021-22 Series X February 28-March March 08,2022

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04,2022

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Y
BCC:BR:113:643 DATED 21.10.2021
MIGRATION OF FIRE INCIDENTS AT THE BRANCHES /ATM/OFFICES – URGENT ACTIONS

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REQUIRED TO BE TAKEN

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As there has been an increase in the incidents of Fire, the Top Management has taken a very serious
view of the same. A strong message has been conveyed that immediate preventive measures be taken

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initiated at the Branches / Offices / ATMs to reduce / mitigate such incidents. A team of Fire Safety
officers was formed to analyses the main causes of fire.

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The equipment’s where initiation of fire generally takes place and the causes for the same are given in

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list form.

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Bank has advised to necessary steps be initiated on priority as specified above. Proper upkeep of
batteries, UPS and AC units be ensured by the Branches. Proper housekeeping be maintained so that

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there are no huge dumps of old and unusable furniture, empty cardboard boxes, piles of waste paper, old

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computers etc. All these materials increase the fire load of a Branch, thus facilitating easy and rapid
spread of fire.
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BCC:BR:113:644 DATED 21.10.2021
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BOARD OF DIRECTORS-APPOINTMENT OF SHRI JOYDEEP DUTT ROY, AS EXECUTIVE
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DIRECTOR OF THE BANK

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Shri Joydeep Dutta Roy has taken over charges as Executive Director of the Bank from 21 st October 2021.
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BCC:BR:113:645 DATED 22.10.2021

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GROUP TERM LIFE INSURANCE COVER FOR ALL EMPLOYEES OF THE BANK.
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Bank has renewed the Group Term Life Insurance Policy (GTLI) for the policy period from 01.11.2021 to
31.10.2022. For the said policy period, the Group Term Life Insurance cover shall be provided by M/s Life
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Insurance Corporation of India at a premium of Rs. 3.98/- per thousand, excluding GST, for a sum
assured of Rs. 20,00,000/-.
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INR Premium G.S.T (18%) Total

By Bank (90%) 7164 1289.52 8453.52
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By Employee (10%) 796 143.28 939.28

TOTAL 7960 1432.80 9392.80
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D

BCC:BR:113:646 DATED 22.10.2021

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TO DRAW A PARALLEL FOR EXTERNALLY RATED BORROWERS/PROSPECTIVE WITH SME

RATING/ GRADING FOR THE CONCESSIONAL MATRIX PURPOSE UNDER 'MSME UTSAV' SCHEME.
Based on the demand and requests received from field functionaries, an equivalency of External Rating
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grade with SME rating/ grading for the concessional Matrix purpose under 'MSME UTSAV' Campaign
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has been approved by competent authority. The linkage details are as under:
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Conditions:
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 The borrower should have a valid external rating for the existing exposure. The rating should be
of the same existing debt and not of any other instrument.
 In case of takeover with increase is being proposed, the rating/grading of the increased portion
of the debts is to be carried out within 06 months, for BBB & above (Excluding BBB-, carrying of
rating/grading within 06 months of sanction may be exempted for BBB- A/cs), Otherwise, penal

Prepared by Research Team, Baroda Apex Academy Page 19 of 30

 interest @0.50% p.a will be charged from end of 06 months period, till the exposure is not rated
by RBI authorized agency. This should be clearly mentioned in the sanction letter of the
borrower.
 For SME4 and below rated/graded accounts, ROI will be applicable as per BCC: BR: 113:616

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Dtd.08.10.2021.

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 In cases where facility wise ratings are available, respective ROI in line with SME
rating/ Grading is to be applied and in other cases, lower of two will be applied on conservative
side. (Example: TL is rated as A2 and WC is rated as A3, in this case ROI in line with SME2 will

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be applicable for TL and ROI in line with SME3 will be applicable for WC.
 In cases where distinguish between facility wise ratings cannot be made, lower of two will be

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applied on conservative side).

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BCC:BR:113:647 DATED 22.10.2021

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REVISION IN THE UPPER LIMIT OF MSME BORROWER EXPOSURE WHEREBY ROI IS LINKED WITH
CMR, FROM RS.5.00 CRS TO RS.7.50 CRS.

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Zone/Region/ SME Branches/ SMELFs have frequently requested to increase the upper limit from

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Rs.5.00 Crs to Rs.7.50 Crs for CMR linked ROI. The reason for the request is that other financial

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institutions are aggressively taking over the accounts with good hard security coverage.

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Based on the above, competent authority has approved the Revision in upper limit of MSME Borrower

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exposure, whereby ROI is linked with CIBIL MSME Rank (CMR), from Rs.5.00 Cr to Rs.7.50 cr.

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Above revision is NOT applicable in case of only review cases i.e. the CMR based rate of interest will not
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be available for exposure of more than Rs.5 Cr in case of only review/review with decrease.
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A

However, in other cases i.e Review with Increase, Takeover and Win back, CMR based pricing will be
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applicable for upper limit of exposure up to Rs.7.5 Cr.

A

BCC:BR:113:648 DATED 22.10.2021

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MODIFICATION IN AIP AND CONCESSION PROPOSAL FORMATS

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Bank has introduced Agreement In Principal (AIP) approval for selected activities and takeover of
accounts (with or without deviation and concessions), Concession in various charges & ROI on merit
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basis for quality business.

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In recent times a need is being felt to review the existing formats due to the TAT challenges which is an
outcome of platue of information being used in these formats.
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Based on the feedbacks received from Zones & Regions, the modification in formats of AIP and
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Concession (without modification/ non-financial deviation) was proposed and the same was approved
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by the competent authority. Other formats to be continue as per existing guidelines.

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Concession proposal, being the commercial decision may also be allowed on the specific information
available and proper justification provided including RAROC, cross sell, risk involved, rating and
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Security available etc.

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BCC:BR:113:650 DATED 25.10.2021

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GENERATION OF EFRMS POP UPS IN CBS WHILE POSTING THE TRANSACTIONS

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Bank has decided to monitor selected CBS transactions through EFRMS to detect suspicious activity
Thus, while authorizing the transaction an 'EFRMS POP UP' message has been configured in CBS to
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alert/caution the authorizing( posting) staff/official on real-time, regarding the nature of suspicious
activity detected by EFRMS.
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“EFRMS POP UP” shall only caution the staff and will not prevent/block them from authorizing the
transactions if they want to do so without carrying out due diligence.

In the initial phase of implementation, transactions initiated through the following Finacle menus shall
Prepared by Research Team, Baroda Apex Academy Page 20 of 30
 be monitored by EFRMS:
1. HTM - Transaction Maintenance
2. HXFER - Transfer Transaction
3. HCASHWD - Cash Withdrawal

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4. HPORDM - Pay Oder Maintenance

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 (*In future, some additional Finacle menus may be covered as per the emerging fraud trends)

BCC:BR:113:651 DATED 20.10.2021

BRANCH TRANSFORMATION PROGRAMME - BRANCH 2.0

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Bank has launched Branch 2.0 transformation program to take the amalgamation process from a

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technical and operational migration to harnessing the impact and value from the process.

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Branch 2.0 aims to re-imagine the bank's branches and their functioning. Superior customer experience

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including digital banking services, service efficiency, and focus on cross-sales and customer connect
being the major pillars of this program.

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A
Based on encouraging result of Pilot drive, Bank have cascaded the program to 3048 select Metro/Urban

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branch across all Zones. The branches, regions and zones are rated on a 5 level scale from bronze being
the lowest, to platinum being the highest.

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Performance of branches are measured on the various matrix given in the circular. Due weightages are

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given for digital adoption by customers as well as by staff.
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Major initiatives:-
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 Branch 2.0 completely aligned with digital initiatives under BOB NOWW
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 Support with WhatsApp & Yammer group for earliest pending complaint resolutions
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 Monthly Score card & Dashboard access to Zonal 0ffices/Regional Offices/Branch for feedback
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and discussions
 Auto generated SMS, Emails and Certificate of appreciations.
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 Achievers Club: Trophies/ T-Shirts to Platinum and Diamond, branches on quarterly

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basis.
 Measurable KRAs for Zones/ Regions/Branches.
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 Hand holding of the branches with knowledge series.

 Inclusion of Branch 2.0 performance related KRAs for employees of identified
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Branches.

BCC:BR:113:652 DATED 25.10.2021

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RELAXATION OF OFFICE ACCOUNT THROUGH REMOVING SYSTEM ONLY FLAG/UNFREEZING

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In terms of BCC:BR:113:132 dated 2nd March 2021, the process for relaxation of office account for
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removing system only flag (Y) or unfreezing has been centralized at HOCORP subject to
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recommendation from Zonal office. The Department further streamlined the process by placing note
through paperless office and also prescribed format has been issued.
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Now Mr. Ajay Mathur, Deputy General Manager has been transferred & Mr. Subrat Swain has taken
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charge of Internal office accounts, Hence please tag following officials at the time of uploading the note
in share-point. (In below mentioned chronology only)
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BCC:BR:113:653 DATED 25.10.2021

PROVIDING NO OBJECTION CERTIFICATE (NOC) TO THE AUTO LOAN BORROWER WITHIN -7-
WORKING DAYS FROM THE DATE OF FULL REPAYMENT OF LOAN AMOUNT

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 As per a communication received from Ministry of Finance Department of Financial Services, all
operational units are hereby advised to issue No Objection Certificate (NOC) to the Auto Loan Borrower
within 7 working days from the full repayment of their auto loan amount. While issuing No objection
certificate (NOC) to the borrowers, Bank’s extant guidelines must be adhered to.

Y
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BCC:BR:113:654 DATED 25.10.2021
LAUNCH OF CHOLA CREDIT LINKED GROUP PERSONAL ACCIDENT INSURANCE PRODUCT.
UIN: CHOPAGP20102V011920

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Please find below the details of recently launched Chola Credit Linked Group Personal Accident

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policy as under:

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Key Features:

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 Financial Assistance at the time of distress
 24*7 Worldwide cover

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 Coverage for loan account holders upto 70 years of age

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 Wide Sum Insured options and Comprehensive coverage

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 Easy Enrolment process

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Eligibility for Cover: Loan Account Holders

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Age Criteria: 18 to 70 years.

A
Policy Tenure: 3 years (Policy tenure shall not be greater than loan tenure)
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BCC:BR:113:655 DATED 25.10.2021
N
CHANGE OF RESIDENT STATUS OF ACCOUNT HOLDER.
A

Change of Resident status from Non-resident to resident:

N

 NRO accounts may be designated +s resident accounts on the return of the account holder to
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India for any purpose indicating his intention to stay in India for an uncertain period.
 NRE accounts should be designated as resident accounts or the funds held in these accounts
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may be transferred to the RFC accounts, at the option of the account holder, immediately upon
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the return of the account holder to India for taking up employment or on change in the residential
status.
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Change of Resident Status rom Resident to Non resident:

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When a person resident in India leaves India for a country (other than Nepal or Bhutan) for taking up
employment, or for carrying on business or vocation outside India or for any other purpose indicating
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his intention to stay outside India for uncertain period, his existing resident account should be
designated as a Non-Resident (Ordinary)' account.
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D

Step-by-step process is given in this circular.

YE

BCC:BR:113:656 DATED 25.10.2021

LAUNCH OF GROUP HEALTH INSURANCE PLAN OF STAR HEALTH FOR BANK OF BARODA
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ACCOUNT HOLDERS.
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Bank’s standalone Health Insurance tie up partner M/s Star Health & Allied Insurance Co Ltd has
launched a Group Health product exclusively for Bank of Baroda customers under group platform.
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This new product offering is very price competitive with various benefits available for our customers.
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The details of product is as follows:

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 Name of Plan - Star Group Health Insurance Plan

 Target customers - CASA A/c holders of Bank of Baroda & their family members
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 Family Coverage: up-to 2Adul + 2Childeren

 Age Band: 18 years to 79 years for self and spouse. (Dependent Children 5 months to 30
years
 Policy Type: Family Floater
 Policy Period: One Year
Prepared by Research Team, Baroda Apex Academy Page 22 of 30
  Sum Insured - from 2 lacs to 25 lacs
 Premium Range- Minimum Amount Rs.5123 excluding GST (for 2 lakhs up to 45 years of
age), Maximum premium Rs.27589 excluding GST (for 25 lakhs up to 79 years of age).

Y
BCC:BR:113:659 DATED 26.10.2021

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BOB GUARANTEED EMERGENCY CREDIT LINE SCHEME (BGECLS) - MODIFICATIONS.
Emergency Credit Line Guarantee Scheme (ECLGS) with 100% guarantee coverage by National Credit
Guarantee Trustee Company Ltd (NCGTC) was introduced by Govt. of India to support the business

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entities to restart their business which are impacted by the COVID 19 pandemic.

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Based on this scheme, BOB Guaranteed Emergency Credit Line Scheme (BGECLS) was introduced in

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our Bank vide circular No. BCC: BR:112:307 dated 27.05.2020 and subsequent
modifications/clarifications as informed by NCGTC were also conveyed to the operating units vide

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various circulars/letters issued from time to time.

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Now NCGTC has advised following modifications in the Scheme:

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i) Validity period of the Scheme has been extended upto March 31, 2022 or till guarantees for an

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amount of Rs.4.50 lakh crore are issued by NCGTC whichever is earlier. All existing terms &
conditions shall remain the same for extended period upto 31.03.22 for sanction and upto

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30.06.2022 for disbursement.

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ii) Additional/fresh loans to existing/new borrowers are to be extended under BGECLS 1.0, 2.0 and
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3.0 based on new reference date 31.03.2021 subject to compliance of additional terms &
conditions which are detailed in the captioned circular.
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A

BCC:BR:113:660 DATED 26.10.2021

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CREDIT GUARANTEE SCHEME FOR SUBORDINATE DEBT' (CGSSD) - EXTENSION IN VALIDITY

A

PERIOD.
CGTMSE have further informed that based on the feedback from various stake holders on the need to
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increase the benefits of the scheme across wider number of stressed MSMEs, it has been decided to
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extend the validity of this scheme from 30.09.2021 to 31.03.2022.

VI

BCC:BR:113:661 DATED 26.10.2021

ATTEMPTED FRAUD: PERSONAL LOAN / SALARY ACCOUNT PACKAGE
LA

Recently attempted fraud incident in one of the branches of a peer bank. lt has come to light that in this
incident the fraudster has approached branch official for personal loan of Rs.20.00 lacs with all required
documents like Salary slip, office ID card, joining letter, AADHAR card, PAN card etc.
U
D

As a measure of extra caution when branch did background check and document verification it has been
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uncovered that all documents are forged and identity impersonation was done, making the incident a
YE

near miss event and not fraud.

BCC:BR:113:662 DATED 27.10.2021

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PREVENTIVE VIGILANCE- MODUS OPERANDI OF RECENT FRAUDS IN AGRICULTURE LOANS:

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PRECAUTIONS AND SAFEGUARDS TO BE FOLLOWED FOR AVOIDING RECURRENCE.

The brief history and Modus Operandi of recent incidents are given in the circular, so that branches may
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take added Precautions and prevent recurrence of such incidents.

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Branches need to scrupulously observe the laid down guidelines to avoid such frauds and be guided
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with our Master Circulars regarding BKCC viz. observing KYC guidelines, carrying pre and post-sanction
inspection, verifying land records from revenue authorities/online invariably wherever available and for
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initiating timely recovery measures etc.

BCC:BR:113:663 DATED 27.10.2021

SCHEME CODE / ACCOUNT LABEL CODE FOR ADDITIONAL/FRESH LOANS UNDER BOB
GUARANTEED EMERGENCY CREDIT LINE SCHEME (EXTENSION)

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 Branches are advised to open these additional/fresh loan accounts under the Scheme Code 'LA533'
with respective Account Level Label Codes as mentioned below:

Scheme Code Account Level Code Remarks

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EXTBGECLS1 Loans· under BGECLS 1.0 extension

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LA 533 EXTBGECLS2 Loans· under BGECLS 2.0 extension
(BGECLS) EXTBGECLS3 Loans· under BGECLS 3.0 extension

Y
BCC:BR:113:664 DATED 26.10.2021
RATIONALIZATION OF OPERATIONAL INSTRUCTIONS/BANK’S GUIDELINES GOVERNING TRADE

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FINANCE OPERATIONS.

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The gist of rationalization in the guidelines governing the trade finance business is given below:

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1. Increasing the maximum permitted claim period on Bank Guarantees from 6 months to 1 year.
2. Allowing re-instatement of regular BG limit and Release of proportionate margin, in case of BG

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reduction, at the branch level for standard accounts, after obtaining SFMS request / confirmation from

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Beneficiary’s Bank without insisting on Original BG bond.

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3. Defining delegation of powers to various functionaries for discounting bills of all Banks for whom ASL
limit is available with our Bank, in addition to prime Banks, Nationalized Banks & SBI, IDBI Bank, HDFC

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Bank, ICICI Bank and Axis Bank.

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4. Linking the delegation powers for forex related deviations to Internal rating instead of external rating

A
as per the existing guidelines and delegating powers to various functionaries at TFBO level for approval
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based on the recommendation of the Branch instead of routing through RO/ZO.
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BCC:BR:113:665 DATED 26.10.2021
A

OPERATIONAL GUIDELINES TO REDUCE TAT WHILE ISSUING LETTER OF CREDITS / BANK

N

GUARANTEES (LC/BG)
A

All the foreign currency LC / BGs are processed at TFBO. Further most of the Inland LCs /BGs are also
processed at TFBO. Clear SOPs have been issued giving the branch role / TFBO role. Still there are many
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queries / doubts at branch level which leads to increased TAT and customer complaints.
VE

We provide a quick guide to the branches so as to clear the doubts. Customer requests LC/BG issuance
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through 2 modes viz., through Branch mode and Smart Trade Portal mode. In both these modes,
branches should monitor the transaction status through BarodaInsta so as to answer TFBO queries and
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expedite the transaction.

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Common Prerequisites for both modes-

1. Customer should have Sanctioned facilities for LC/BG with the bank
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2. Branch should have User ID for Insta tool

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3. Branch should have Maker / Checker IDs in Insta Tool

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4. Branch should ensure that the customer profile is properly updated in Insta Tool and the one time
documents like sanction copy / Counter indemnity are uploaded.
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Detailed process is mentioned in this circular.

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BCC:BR:113:667 DATED 27.10.2021

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Providing Complimentary service of submission of Life Certificate to the pensioner customers of Central
B

/State Govt. etc. under PSB Alliance Doorstep Banking services for FY 2021-22 as one time facility.
The Bank vide its circular no. BCC BR:113: 623 dated 22.10.2021 has already communicated to provide
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complimentary submission of Life certificate by super senior pensioners who are above 80 years of age
for the month of October and November 2021. Now the Bank has also come up to offer the submission
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of Life Certificate by pensioner’s customer who are drawing regular pension from our Bank under PSB
Alliance - Doorstep Banking service as complimentary services.

In the month of November 2021, Bank's Pensioner customers (Central/State Govt.) will be offered one
time free of charge facility for submitting their Life Certificate through PSB Alliance-Doorstep Banking.
Prepared by Research Team, Baroda Apex Academy Page 24 of 30
 BCC:BR:113:668 DATED 28.10.2021
NEW ROLE VARIANTS FOR BUSINESS ASSOCIATES & SAHAYAKS - DIGI SAARTHI AND DIGI MITRA
In order to make this Digital Transformation journey of our Bank successful, our front line staff, viz. our

Y
Business Associates and Sahayaks will play a very crucial and important role' Towards this end, we are

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creating 2 new role variants for the Business Associates and Sahayaks which will be a natural
progression of their existing roles in the evolving digital world.

Accordingly, Bank has launched the 2 new-age roles of 'Digi Saarthi' and 'Digi Mitra' for Business

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Associates and Sahayaks respectively.

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ED
Digi saarthi and Digi Mitra roles will also ensure capability building, recognition and elevation of our in-
house talent. These roles will be offered to the eligible and selected employees in their respective grades

R
after undergoing a focused screening process. The identified/ selected staff members will be eligible to
draw a host of benefits and perquisites and will be provided an opportunity to work on a focused set of

R
KRAs with corresponding benefits for higher levels of performance. Higher performing employees will

A
also be able to ascend to higher levels in the Role on achieving some benchmarks associated with a

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particular level.

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Selected candidates will be posted in identified branches in the local area / center only, as per their

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preference given subject to vacancy, and in the order of merit. Operative Guidelines for Digi Saarthi and

A
Digi Mitra Roles are given in details in this circular. D
BCC:BR:113:669 DATED 29.10.2021
N
BARODA GEMS: FEEDBACK FORTNIGHT FOR FY 2020-21
A

Since feedback is a continuous process and in order to continue this on-going practice to change the
N

culture of the Bank, it has been decided to launch the Feedback Fortnight from 14th to 28th November,
2021.
A
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During the Feedback fortnight Reporting & Reviewing Authorities are required to have discussions with
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their repartees based on their year-end performance of FY 2020-21. The discussion should focus on the
following broad areas:
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a. Complementing the employee on his/ her strengths;

LA

b. Discussing and motivating him/ her on the development areas;

c. Providing suggestions, training recommendations, etc. for growth; and
d. Finalizing action plan to be followed.
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D

BCC:BR:113:671 DATED 30.10.2021

D

LAUNCH OF NEW SB SCHEME FOR SINGLE NODAL ACCOUNT OF GOVERNMENT INSTITUTIONS

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·BARODA SNA SB GOVT. ACCOUNT (SB 193)

As per the new guidelines issued by the Ministry of Finance, for every Central Government Sponsored
Scheme, Scheme Implementing Department will have to open one Savings Bank account which will be
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Single Nodal Account (SNA). The funds related to the schemes will be released by the Central
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Government I State Government will get credited in this Single Nodal Account (SNA) maintained by the
State Government preferably at State Head Quarters.
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The funds from the Central Government/State Government will be released in tranches. The account
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may be opened in the state capital/or as suggested by state authority. Proposed accounting for Single
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Nodal Account (SNA) will be based on umbrella concept. Accounts at District Level/ Block level will be
opened which will act as Child account of the Single Nodal account and will be linked to PFMS module
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and all the expenditure/Transfer of fund will takes place from child level accounts.

Bank has developed the Limit- Management Software (LMS) as per the requirement of Central
Government Sponsored Scheme (CSS). For more information regarding LMS, branches are requested to

Prepared by Research Team, Baroda Apex Academy Page 25 of 30

 refer the Circular No. BCC:BR:113:509 dtd: 27.08.2021 issued by Govt. Relationship & PSU Business
Department, New Delhi.

Since, Limit Management Software (LMS) requires specific SB Scheme to monitor & grant overdraft limit

Y
to Child level Account, we are introducing a new SB Scheme named as Baroda SNA SB Govt. Account

.(V
(SB 193).

Salient features of the Baroda SNA SB Account Scheme {SB 193) are as following:-

Y
1. With effect from 30.10.2021 post launch of the Baroda SNA SB Account Scheme (SB 193), account
opening of SNA Child level Accounts will not be permissible in SB-129 and branches are requested to

D
transfer the scheme code of SNA Child level Accounts from SB 129 to SB 193, if opened earlier.

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2. Nil QAB hence no charges for non- maintenance of QAB.
3. Cheque Book not allowed as all transfer will be routed through PFMS only.

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4. Free unlimited NEFT/RTGS/IMPS through all Channels.
5. Cash deposit not allowed.

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6. Cash Withdrawal not allowed.

A
7. Nil Ledger folio charges.

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8. Free SMS alerts.
9. Scheme Code Transfer is not allowed.

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10. Account Opening through R menu is available on the same line as SB 129.

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A
BCC:BR:113:672 DATED 29.10.2021
ADVISING THE ISSUANCE AND AMENDMENT OF INLAND BANK GUARANTEES THROUGH SFMS
D
– CHANGE IN PROCESS.
N
Our IT Department has made certain changes in the Finacle system, so as to automate the process of
A

generation of IFIN 760 COV and 767 COV at the time of issuance and amendment of Bank Guarantees
N

respectively, without manual intervention.

A

Accordingly, from 20th October 2021 onwards, IFIN 760 COV and 767 COV will be automatically
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generated from Finacle while issuing and amending Bank Guarantees in Finacle respectively.
VE

Branches, after issuance/amendment of BG in OGM menu, need to ensure the “Processed (P)” status of
VI

the SFMS cover messages through the HSMI (Inquiry) menu. In case, the status of the cover message is
“Error (E)”, Branches should rectify the error through HSMM (Maker) and get the same verified through
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HSMV (Verifier).

BCC:BR:113:673 DATED 30.10.2021

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Gold Monetization Scheme (GMS) , 2015 (Amendments)

D

Interest on premature closure of the deposit in case of death of depositor before and after lock-in period.
D

The amount payable to the depositor shall be calculated as a sum of (A) and (B), as indicated below:
YE

(A) Actual market value of the gold deposit on the day of withdrawal.
(B) Interest payable on the value of the gold for the period of deposit at the applicable rate.
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Interest on premature closure of the deposit due to default of loan taken against MLTGD before and after
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lock-in period. The amount payable to the depositor shall be calculated as a sum of (A) and (B), as
indicated below:
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(A) Actual market value of the gold deposit on the day of withdrawal.
(B) Interest payable on the value of the gold for the period of deposit at the applicable rate.
B

Applicable Interest is mentioned in this circular.

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BCC:BR:113:674 DATED 30.10.2021

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MODIFICATION IN SCHEDULE OF FEES / INCENTIVE TO ENFORCEMENT / RECOVERY AGENCIES

FOR REPOSSESSION I SEIZURE OF VEHICLE AND SALE OF VEHICLES
Bank has a number of NPA accounts in vehicle finance segment. Bank is dependent on
Enforcement/Recovery agencies for taking possession (Seizure) of vehicles, storage and sale thereof.

Prepared by Research Team, Baroda Apex Academy Page 26 of 30

 In view of above the fee schedule for repossession and seizure of vehicle and payment of yard/ storage
charges has been revised. Details are mentioned in this circular.

In case the borrower/ guarantor clear the arrears/ dues at the time of visit by seizure agents for seizing

Y
of vehicle (i.e. prior to seizing), the seizure agent shall be entitled get 5% on overdue amount not. on

.(V
balance outstanding plus applicable seizure charges. The field functionaries should collect the said
amount from concerned borrower along with the arrears to avert seizure.

Y
Delegated power for allotment for seizure and payment of above approved fees/charges will be vested
with Regional Manager Credit Committee / Branch Head of SAMB, ZOSARB and CFS Branches.

D
ED
BCC:BR:113:675 DATED 30.10.2021
GUIDELINES FOR IMPLEMENTATION OF THE CIRCULAR ON OPENING OF CURRENT ACCOUNTS

R
BY BANKS - NEED FOR DISCIPLINE.
In this regard RBI has issued fresh guidelines vide circular [Link]:CRE:REC.63/21.04.048/2021-22

R
dated 29.10.2021, the contents are reproduced as

A
below:

M
1. It has been decided that banks may open current accounts for borrowers who have availed credit
facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system as per the provisions

U
below:

K
A
i) For borrowers, where the exposure of the banking system is less than Rs.5 crore, there is no
restriction on opening of current accounts or on provision of CC/OD facility by banks, subject to
D
obtaining an undertaking from such borrowers that they shall inform the bank(s), as and when the
N
credit facilities availed by them from the banking system reaches Rs.5 crore or more.
A
N

ii) In respect of borrowers where exposure of the banking system is Rs.5 crore or more, such
A

borrower can maintain current accounts with any one of the banks with which it has CC/OD
facility, provided that the bank has at least 10 per cent of the exposure of the banking system to
K

that borrower.
VE

Further, other lending banks may open only collection accounts subject to the condition that funds
VI

deposited in such collection accounts will be remitted within two working days of receiving such funds,
to the CC/OD account maintained with the above-mentioned bank maintaining current accounts for the
LA

borrower. In case none of the lenders has at least 10% exposure of the banking system to the borrower,
the bank having the highest exposure may open current accounts. Non-lending banks are not permitted
U

to open current accounts.

D

2. It is clarified that borrowers not availing CC/OD facility from the banking system shall continue to
D

maintain current accounts as per para 1 (v) of the above mentioned circular dated August 6, 2020, as
YE

hitherto.

3. Further, banks are permitted to open/ maintain the following accounts, without any restrictions placed
r.

in terms of the above-mentioned circular dated August 6, 2020, subject to meeting the conditions
M

specified as at para 2 of [Link].30/21.04.048/2020-21 dated December 14, 2020:

y:

(a) Inter-bank accounts

B

(b) Accounts of All India Financial Institutions (AIFls), viz., EXIM Bank, NABARD, NHB, and SIDBI
(c) Accounts opened under specific instructions of Central Government and State Governments
ed

(d) Accounts attached by orders of Central or State governments/regulatory body/Courts/investigating

agencies etc. wherein the customer cannot undertake any discretionary debits.
ad

Prepared by Research Team, Baroda Apex Academy Page 27 of 30

 RBI Circulars

Y
RBI/2021-2022/104 - [Link].55/21.04.048/2021-22 DATED 01.10.2021 ( Click the
icons to access full circular)

.(V
MASTER CIRCULAR - PRUDENTIAL NORMS ON INCOME RECOGNITION, ASSET CLASSIFICATION
AND PROVISIONING PERTAINING TO ADVANCES
RBI has master circular on Prudential norms on Income Recognition, Asset Classification and

Y
Provisioning pertaining to Advances which consolidates instructions / guidelines issued to banks till

D
June 30, 2015 on matters relating to prudential norms on income recognition, asset classification and

ED
provisioning pertaining to advances.
RBI/2021-2022/105 - [Link].57/21.04.018/2021-22 DATED 04.10.2021

R
ENHANCEMENT IN FAMILY PENSION OF EMPLOYEES OF BANKS - TREATMENT OF ADDITIONAL
LIABILITY

R
The Indian Banks’ Association (IBA) had approached RBI for allowing amortization of the increased

A
expenditure resulting from the revision in family pension for employees of its member banks covered

M
under the 11th Bipartite Settlement and Joint Note dated November 11, 2020 whereby it was advocated

U
that it would be difficult for some banks to absorb the large amount involved in a single year.
Accordingly, RBI has decided that banks covered by the aforementioned settlement may amortize such

K
expenditure over a period not exceeding five years beginning with the financial year ending March 31,

A
2022, subject to a minimum of 1/5th of the total amount involved being expensed every year.
D
N
Appropriate disclosures of the accounting policy followed in this regard shall be made in the ‘Notes to
Accounts’ to the financial statements. The Notes to Accounts shall also disclose the amount of
A

unamortized expenditure and the consequential net profit if the unamortized expenditure had been fully
N

recognized in the Profit & Loss Account.

A

RBI/2021-2022/110 - [Link].15/04.09.01/2021-22 DATED 08.10.2021

K

PRIORITY SECTOR LENDING- BANKS’ LENDING TO NBFCS FOR ON-LENDING – EXTENSION OF

VE

FACILITY
The RBI vide Master Directions (MD) on PSL dated September 04, 2020 (updated as on June 11, 2021)
VI

had allowed the facility of bank lending to NBFCs (other than MFIs) for on-lending to be classified as
PSL up to September 30, 2021. Now, the facility has been extended till March 31, 2022 keeping in view
LA

the increased traction observed in delivering credit to the underserved/unserved segments of the
economy.
U

RBI/2021-2022/111 - [Link].59/20.16.056/2021-22 DATED 14.10.2021

D

DATA FORMAT FOR FURNISHING OF CREDIT INFORMATION TO CREDIT INFORMATION

COMPANIES
D

The Uniform Credit Reporting Format has two Annexes, Annex-I contains two formats for credit
YE

reporting, viz., Consumer Bureau and Commercial Bureau, whereas Annex-II contains credit reporting
format for Micro Finance Institution (MFI) segment. The Relationship Segment (RS) in the Commercial
Bureau format inter alia captures information on relationship fields of the corporates, viz., business
r.

category and type of relationship (i.e. contains information on directors, shareholders, proprietors,
M

partners, trustees, holding companies, subsidiary companies and associated companies related to the
borrower). The RBI has observed that there is a low level of RS details in the databases of CICs which is
y:

very important in establishing cross-linkages across the three modules, viz., Consumer, Commercial and
B

MFI Bureaus, while providing comprehensive credit information of a borrower to Credit Institutions
(CIs) by CICs.
ed

Accordingly, RBI has decided that the reporting of RS data by CIs to CICs would henceforth be
ad

mandatory. In order to ensure implementation in a non-disruptive manner, the reporting requirement

may be staggered in the manner indicated below.

(i) The reporting would be mandatory in respect of new loan accounts opened after July 1, 2022.
(ii) A phased approach shall be followed for reporting of legacy data as detailed below:
Prepared by Research Team, Baroda Apex Academy Page 28 of 30
  The accounts opened during the period (July 1, 2021 to June 30, 2022) have to be updated by
January 1, 2023.
 The accounts opened in past three years (July 1, 2018 to June 30, 2021) have to be updated by
July 1, 2023.

Y
 A timeline for reporting of the remainder legacy data would be reviewed by the Technical

.(V
Working Group and the CIs would be advised in due course.

The CIs are advised to commence reporting the aforesaid information as per the prescribed timelines to

Y
CICs.

D
RBI/2021-2022/113 - [Link]. NO.1087/14.04.050/2021-22 DATED 22.10.2021

ED
SOVEREIGN GOLD BOND SCHEME (SGB) 2021-22 - SERIES VII/VIII/IX/X
Government of India has announced the Sovereign Gold Bond Scheme 2021-22, Series VII, VIII, IX and
X. Under the scheme there will be a distinct series (starting from Series VII) for every tranche. The date

R
of issuances shall be as per the details given in the calendar below

R
A
[Link]. Tranche Date of Subscription Date of Issuance

M
1. 2021-22 Series VII October 25–29, 2021 November 02, 2021
2. 2021-22 Series VIII November 29-December 03, 2021 December 07, 2021

U
3. 2021-22 Series IX January 10-14, 2022 January 18, 2022

K
4. 2021-22 Series X February 28-March 04, 2022 March 08, 2022

A
RBI/2021-2022/114 - [Link].1100 /14.04.050/2021-22 DATED 22.10.2021
D
SOVEREIGN GOLD BOND SCHEME OF THE GOVERNMENT OF INDIA (GOI) - PROCEDURAL
N
GUIDELINES – CONSOLIDATED
A

The RBI has issued and shared consolidated procedural guidelines for Sovereign Gold Bond Scheme of
the Government of India (GoI). The rules and regulations applicable for servicing of these bonds have
N

been updated with instructions issued till the date of issuance of this circular and it supersedes all
A

operational/procedural guidelines issued till date. All the Receiving Offices shall be guided by these
K

instructions while dealing with servicing of these bonds.

VE

RBI/2021-2022/115 - [Link].62/23.67.001/2021-22 DATED 28.10.2021

GOLD MONETIZATION SCHEME (GMS), 2015
VI

The RBI has shared amendments in the Reserve Bank of India (Gold Monetization Scheme, 2015)
regarding calculation of amount payable to depositor on premature closure of the deposit in case of
LA

death of deposit before or after lock-in-period for both Medium Term and Long Term Gold Deposit.
U

Similarly, the guidelines are also amended and shared for premature closure of the deposit due to default
of loan taken against MLTGD before and after lock-in period.
D
D

RBI/2021-2022/116 - [Link].63/21.04.048/2021-22 DATED 29.10.2021

OPENING OF CURRENT ACCOUNTS BY BANKS - NEED FOR DISCIPLINE
YE

On a review and taking into account feedback received from Indian Banks’ Association (IBA) and other
stakeholders, the RBI has decided that banks may open current accounts for borrowers who have availed
r.

credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system as per the
M

provisions below:
y:

(i) For borrowers, where the exposure of the banking system is less than ₹5 crore, there is no restriction
on opening of current accounts or on provision of CC/OD facility by banks, subject to obtaining an
B

undertaking from such borrowers that they shall inform the bank(s), as and when the credit facilities
availed by them from the banking system reaches ₹5 crore or more.
ed

(ii) In respect of borrowers where exposure of the banking system is ₹5 crore or more, such borrower can
ad

maintain current accounts with any one of the banks with which it has CC/OD facility, provided that the
bank has at least 10 per cent of the exposure of the banking system to that borrower.

Prepared by Research Team, Baroda Apex Academy Page 29 of 30

 Further, other lending banks may open only collection accounts subject to the condition that funds
deposited in such collection accounts will be remitted within two working days of receiving such funds,
to the CC/OD account maintained with the above-mentioned bank maintaining current accounts for the
borrower. In case none of the lenders has at least 10% exposure of the banking system to the borrower,

Y
the bank having the highest exposure may open current accounts. Non-lending banks are not permitted

.(V
to open current accounts.

Y
D
------------------------------------------------------------------------------------------------------------

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

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

A
Original Circulars/ Guidelines issued from time to time. Only selected circulars have been

M
made part of the document. For complete details and guidelines, please refer to

U
Barodapedia and Intranet.

K
References: A
D
N
 RBI Index to RBI
A

Circulars:[Link]
N

 Bank of Baroda Intranet website: [Link]

A
K

List of Other Publications available on Baroda Gurukul -

VE

 Daily News Flash


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Domain wise Handbook/Work Book

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Prepared by Research Team, Baroda Apex Academy Page 30 of 30

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To share reviews follow this link - [Link]
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Baroda Gurukul > Social Learning > Digital Library > The Indian Banker
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