Various channels of distribution used for various financial services by the bank of baroda

Various channels of distribution used for various financial services by the bank of baroda The distribution channel (definition) Chains of intermediaries, each passing the product down the chain to the next organization, before it finally reaches the consumer or end-user of the product or services. Now let us study the various channels of distribution which had been used by BOB for its financial services. 1. Distribution through its branches in India (direct channel of distribution) Firstly, the bank provides and distributes its financial services through its various branches set up in all over India with its Corporate Centre at Bandra (East), Mumbai. At all the branches provides all the financial services of the bank i.e. deposit and withdrawal of money, lending loans etc. 2. Structural changes done by bank in order to facilitate the distribution of its financial services Bank opened eight new urban retail loan factories at powai, Mumbai, Agra, bareilly, Bhopal, nagpur, ernakulam, jodhpur and last at noida ( thus total URLFs rising to 23) in order to strengthen the Retail Credit Delivery System. Gen-Next Branches- total five two Gen-next branches were opened till 2009. These Branches are equipped with modern gadgets, ambience and all other facilities, which a youth requires in todays modern era Memorandums of understanding were signed in order to provide and boost auto loan with number of car manufacturing companys viz. Maruti Suzuki India Ltd, Tata Motors Ltd, Hyundai Motors India Ltd and Mahindra Mahindra Ltd. during the year 2008-09. Bank has done Tie-up with M/s Kotak Mahindra Old Mutual Life Insurance Ltd for providing Life Insurance Cover to Education Loan borrowers and Home Loan borrowers sanctioned under a special package. Bank has also started to provide online Home Loan application facility , which is also another added distribution method to increase the banks reach. Lastly, providing the brick and mortar channels closer to the customer 3. Wealth Management Services Bank has initiated Wealth Management Services to provide its High Net worth (HNI) and affluent customers as its customer centric measures; a total financial solution at one place. Bank has initiated Wealth Management Services to provide its High Net worth (HNI) and affluent customers as its customer centric measures; a total financial solution at one place. The tie-up partners in these products are HDFC Standard Life Insurance Co. Ltd. in Life Insurance, National Insurance Company Ltd. in General Insurance, India Infoline Ltd. in e-trading and six leading Asset Management Companies including our joint venture Baroda Pioneer Asset Management Co. Ltd. in Mutual Fund products. 4. SME loan factory To cover the SME Sector, the Bank has launched a special and novel delivery model, viz. SME Loan Factory, which is presently functioning in 34 centers of the Bank and is well accepted in the market. The SME Loan Factory is an innovative model for streamlining processes and for timely sanctions of SME loan proposals. The model comprises of the Central Processing Cell for speedy appraisal and sanctioning of proposals within the stipulated deadline. A team of Relationship Managers stationed at different branches of the Bank spread over micro segments of the city reaches out to customers to facilitate completion of pre-sanction formalities in a hassle free manner. The Relationship Managers would also be marketing, not only various SME products of the Bank, but also other products and services including the Third Party products like Life Insurance, Mutual Funds, Equity Trading etc. The Bank has SME Loan Factories at all major business canters across the country(total 34), viz. Agra, Ahmedabad, Bangalore, Baroda, Bhilwara, Bhubhaneshwar, Bulsar, Chennai, Coimbatore, Dehradun, two factories in Delhi, Hyderabad, Indore, Jaipur, Jamshedpur, Jamnagar, Jodhpur, Kanpur, Kolhapur, Kolkata, Lucknow, Ludhaina, three factories in Mumbai, Nagpur, Nashik, Noida, Pune, Rajkot, Raipur, Surat, Vishakhapatnam. The Bank has planned to establish six more SME Loan Factories during the year 2009-10 to increase its reach further to SME business. 5. Baroda Connect and ATMS services Baroda Connect is an internet banking facility introduced as an alternative delivery channel for rendering effective customer service on 24 X 7 bases. It offers unique customized services to both Retail Corporate customers. BoB has undertaken technology initiatives in order to improve its customer service levels and provide new distribution channels to counter stiff competition, especially in the metro and urban centers, that account for a bulk of the business for banks. The bank has retained the Gartner Group as its technology consultant for the same. The major technology initiatives include implementation of a Core Banking Solution, networking its branches to offer Anywhere Banking. Bank of Barodahad set up an extensive network of3127 branches(including 26 extension counters) spanning the length and breadth of the country. There is a branch in the vicinity of everyone in need of a banking solution. All customers can register under Baroda Connect for View and / or Transaction facility Can see their Account summary of all operative, deposit and loan accounts and can get Account statements. Under Transaction facility customer can (in addition to the above VIEW facilities) can transfer funds immediately or schedule for a future date to self linked and third party, can pay through Online Tax Direct and Indirect taxes online such as Excise Duty, Service Tax, Customs Duty, Income Tax etc. Bank customers can also Pay through Baroda Easy Pay utility bills like electricity, mobile etc, Donations, Subscription, Travel plan booking online and booking of the Rail Ticket IRCTC Baroda Connect facility provided by the bank is free of cost. 6. Baroda Mobile Banking Banks latest initiatives which enable its customers to operate their account just like they would do in any bank branch. Bank customers can check their account balance, request for chequebooks and can transfer funds etc. through their mobiles. Thus, it also plays a vital role in distribution channels of the bank to provide its financial services. 24-hour ATMs enable its customers to withdraw cash, check account balance and request for a new chequebooks even after banking hours. 7. Financing Agencies Providing Custom Services To Farmers Agriculture being the backbone of the Indian Economy, Bank of Baroda has contributed significantly in accelerating the pace of rural development by providing finance to farmer. Bank finance to all individuals, entrepreneurs, organizations, institutions corporations such as agro industries corporations, market yard or authorized licensee in market yard, warehouse panchayats and agro service centers who are capable of carrying out such activities and have viable schemes for providing custom services to farmers. The mode of finance covers activities of for purchase oftractor, bulldozer, drill rig for boring wells, drilling tube wells, equipment for construction of wells, lift irrigation, purchase of combine harvester, thresher for hiring on custom basis, construction of godown, warehouse to provide storage facility on rental basis, purchase of truck for transporting agriculture produces to farmer on hiring basis, acquiring milk tankers for transporting milk, establishing curing barn for tobacco, working capital finance to organization/ institution providing such services etc.

People’s Republic of China Essay

The popularity of Southwestern University’s football program under its new coach, Bo Pitterno, surged in each of the 5 years since his arrival at the Stephenville, Texas, college. With a football stadium close to maxing out at 54,000 seats and a vocal coach pushing for a new stadium, SWU president Joel Wisner faced some difficult decisions. After a phenomenal upset victory over its archrival, the University of Texas, at the homecoming game in the fall, Dr. Wisner was not as happy as one would think. Instead of ecstatic alumni, students, and faculty, all Wisner heard were complaints. â€Å"The lines at the concession stands were too long†; â€Å"Parking was harder to find and farther away than in the old days† (that is, before the team won regularly); â€Å"Seats weren’t comfortable†; â€Å"Traffic was backed up halfway to Dallas†; and on and on. â€Å"A college president just can’t win†, muttered Wisner to himself. At his staff meeting the following Monday, Wisner turned to his VP of administration, Leslie Gardner. â€Å"I wish you would take care of these football complaints, Leslie†, he said. â€Å"See what the real problems are and let me know how you’ve resolved them†. Gardner wasn’t surprised at the request. â€Å"I’ve already got a handle on it, Joel†, she replied. â€Å"We’ve been randomly surveying 50 fans per game for the past year to see what’s on their minds. It’s all part of my campus-wide TQM effort. Let me tally things up and I’ll get back to you in a week†. When she returned to her office, Gardner pulled out the file her assistant had compiled (see the following table). â€Å"There’s a lot of information here†, she thought. Questions: 1. Using at least two different quality tools, analyze the data and present your conclusions. 2. How could the survey have been more useful? 3. What is the next step? Fan Satisfaction Survey Results (N = 250) Case Study 5-1 Rochester Manufacturing Corporation (RMC) is considering moving some of its production from traditionally numerically control machines to a flexible machining system (FMS). Its numerical control machines have been operating in a high variety, low volume intermittent manner. Machine utilization, as near as it can be determine, is about 10%. The machine tool sales persons and a consulting firm want to put the machines together in a FMS. They believe that a $3,000,000. 00 expenditure on machinery and the transfer machines will handle about 30% of RMC’s work. There will, of course, be a transition and start up cost in addition to this. The firm has not yet entered all its parts into a comprehensive group technology system, but believes that the 30% is a good estimate of products suitable for the FMS. This 30% should fit very nicely a â€Å"family†. A reduction, because of higher utilization, should take place in the number of pieces of machinery. The firm should be able to go from 15 to about 4 machines, and personnel should go from 15 to perhaps as low as 3. Similarly, floor space reduction will go from 20,000 square feet to about 6,000. Throughput of order should also improve with this family of parts being processed in 1 to 2 days rather than 7 to 10 days. Inventory reduction is estimated to yield a one-time $750,000 savings and annual labor savings should be in the neighborhood of $300,000. 00. Although the projections all look very positive, an analysis of the project’s return on investment showed it to be between 10% and 15% per year. The company has traditionally had an expectation that projects should yield well over 15% and have payback periods of substantially less than 5 years. Questions: 1. As the production manager for RMC, what would u recommend? And why? 2. Prepare a case by a conservative plant manager for maintaining the status quo until the returns are more obvious 3. Prepare the case for an optimistic sales manager that you should move ahead with the FMS now. Case Study 6-1 ACM is an electronics component manufacturer that has been located in Singapore since 1991, supplying original equipment manufacturers (OEMs) with quality components. In the past several years, ACM has experienced increasing pressure from other manufacturers located in other countries. In Singapore, while labor remains quite inexpensive, there has been a relatively steady increase in labor costs. In addition, utility costs – most notably water and energy costs – have led the firm to contemplate moving operations elsewhere in Asia in an attempt to make the firm more competitive. ACM remains profitable, but margins have shrunk, and management is interested in ensuring that the firm remains competitive in the medium term to long term against other component manufacturers. A team of senior management has formed a committee to reach a decision regarding possible relocation. The committee has identified two additional locations as possible candidates for relocation: Hong Kong (People’s Republic of China [PRC]) and Kuching (Malaysia). Hong Kong’s main attractions stem from the fact that since 1997, when its sovereignty was transferred back to the PRC, labor costs have decreased as access to labor has increased. Hong Kong enjoys a large seaport and very good transportation infrastructure, and this is important in moving in raw materials and moving out finished components to customers. Senior management believes that an increasing number of OEMs will move to the PRC in the next several years, as has been the case in the past decade. This will only increase the attractiveness of locating the manufacturing facility in Hong Kong. Kuching is located in the Malaysian province of Sarawak, on the island of Borneo. It is the fourth-largest city in Malaysia and home to a population of around 650,000. Several points make Kuching attractive to the relocation committee. First, locating here would give access to natural resources and other production inputs. Second, the transportation infrastructure is good, and the city hosts a deep sea port for moving raw materials in and finished good out. That said, the port is not as large or accessible as those of Hong Kong or Singapore, and several committee members have expressed concern about the frequency of ship visits to Kuching. If the port does not receive regular service from container ships, transportation costs to ship components to OEMs will doubtlessly stable and inexpensive in Malaysia. The committee has contracted the government of Singapore to elicit possible incentives to not relocate to another country. Singapore is offering a five-year exemption on taxes for ACM if the plant remains in Singapore. The government will also assist by partially subsidizing labor, water, and energy costs for five years. Committee members realize that the Singapore plant, which has been operating for years, has already been amortized, and opening a new plant would require additional capital costs. That said, opening a new factory would also provide an opportunity to upgrade production equipment to more productive and energy-efficient alternatives. Questions: 1. What advantages and disadvantages does each potential location offer? 2. What other relevant factors that are not mentioned in this case study might play a role in this decision? 3. Why is transportation infrastructure so important in this decision? 4. This is a long-term, strategic decision; what factors might change in the next 10 to 20 years? How will this influence the decision? 5. Which alternative would you recommend, under which circumstances? † Case Study 7-1 Henry Coupe, the manager of a metropolitan branch office of the state department of motor vehicles, attempted to perform an analysis of the driver’s license renewal operations. Several steps were to be performed in the process. After examining the license renewal process, he identified the steps and associated times required to perform each step as shown in the following table. State Automobile License Renewals Process Times Step 1. Review renewal application for correctness 2. Process and record payment 3. Check file for violations and restrictions 4. Conduct eye test 5. Photograph applicant 6. Issue temporary license Average Time to Perform (seconds) 15 30 60 40 20 30 Coupe found that each step was assigned to a different person. Each application was a separate process in the sequence shown below. Coupe determined that his office should be prepared to accommodate the maximum demand of processing 120 renewal applicants per hour. He observed that the work was unevenly divided among the clerks, and the clerk who was responsible for checking violations tended to shortcut her task to keep up with the other clerks. Long lines built up during the maximum demand periods. Coupe also found that the Steps 1 to 4 were handled by general clerks who were each paid $12 per hour. Step 5 was performed by a photographer paid $16 per hour. (Branch offices were charged $10 per hour for each camera to perform photography. ) Step 6, issuing temporary licenses, was required by state policy to be handled by uniformed motor vehicle officers. Officers were paid $18 per hour, but could be assigned to any job except photography. A review of the jobs indicated that Step 1, reviewing the application for correctness, had to be performed before any other step could be taken. Similarly, Step 6, issuing temporary licenses, could not be performed until all the other steps were completed. Henry Coupe was under severe pressure to increase productivity and reduce costs, but he was also told by the regional director of the Department of Motor Vehicles that he had better accommodate the demand for renewals. Otherwise â€Å"heads would roll. † Questions: 1. What is the maximum number of applications per hour that can be handled by the present configuration of the process? 2. How many applications can be processed per hour if a second clerk is added to check for violations? 3. If the second clerk could be added anywhere (and not necessarily to check for violations, as in (2)), what is the maximum number of application the process can handle? What is the new configuration? 4. How would you suggest modifying the process in order to accommodate 120 applications per hour? What is the cost per application of this new configuration?

Compare and Contrast Mesopotamia & Egypt

Compare & Contrast Essay Mesopotamia and Egypt By: Jessenia Carranza Egypt and Mesopotamia are similar because they share the same concept of having a single rule, although Egypt is a theocracy and Mesopotamia is a monarchy; and both are divided into social classes, the difference being that women in Egypt have more right than Mesopotamia. Mesopotamia and Egypt are both based upon a single ruler. The Akkedians, for example, had king Sargen, who formed the first empire; or even Hammurabi, the ruler of Babylonia, he created the fist code of laws, which were followed by his people.The Akkedians had to have a single ruler because an empire doesn’t form itself; it needs a leader, which is the king. Similar to this is Menes the king of Egypt, he united Lower and Upper Egypt and built the first dynasty. Although Mesopotamia and Egypt were both based upon a single ruler, Egypt was a dynasty and passed down the power to the son, whereas Mesopotamia was just a monarchy didn’t nec essarily pass down the power to the son.In Egypt the pharaohs, were believed to be gods, therefore it was a theocracy and he had total control. Unlike Egypt, Mesopotamia was a monarchy, and it was believed that their ruler descended from the gods, but they were not gods. Another similarity between these two societies is that they are divided into social classes. In both of them, the King is in the first class followed by wealthy merchants and then the farmers, unskilled workers, and all the other people.Basically the social classes in Mesopotamia and Egypt are based on power, money and skills. One difference between both of these societies is that they Egypt give women more rights then the women in Mesopotamia. In Mesopotamia women could only own property and could divorce their husbands. Meanwhile, in Egypt women could not only divorce and own property, but also they could also manage and sell properties and trade. In short, while in Mesopotamia women’s rights were restricte d, in Egypt women’s right were equal to men.

Christianity And Its Impact On The Development Of...

Christianity was born and flourished in an empire where the common language was Latin and Greek. Two important people like Paul and Constantine further influenced and were a major part of the development of Christianity. The history of the Jews leading up to the time of Jesus had a major impact on the development of Christianity. â€Å"When Christianity was clearly identified as a distant religion, the new religion was considered by its members to be the fulfillment of Judaism rather than a new religion.† â€Å"Since Jesus was a Jew and preached to the Jews, Christianity was closely linked to Judaism.† The development of Christianity was due to several historical, political, and social circumstances. The ministry of Jesus brought about a new religion: Christianity. Jesus’ teachings were apocalyptic in that he preached the nearness of the Kingdom of God. He also taught, â€Å"To love your neighbor as yourself† Mark 12:31[NIV]. â€Å"Since Jesus was a Jew and preached to Jews, Christianity was closely linked to Judaism.† â€Å"Early Christian missionaries, being Jews, interacted at first with the Jewish communities in the empire’s cities.† â€Å"This was only natural and gave them common ground with other groups in the provinces in which Jews were a minority.† â€Å"Among the Jews, however, resistance to Jesus being the Messiah was often encountered, and early on, the Christians or the church gained converts from non-Jews.† â€Å"Christianity in its early stages used the Jewish synagogues, allowing it accessShow MoreRelatedEssay Paul of Tarsus1167 Words   |  5 PagesStephanie Cairns - SOR The Second Most Important Man Towards Christianity Question: Analyse the contribution that Paul of Tarsus had on the development and expression of Christianity. 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