Bank of baroda

Amendments under the Finance Act, 2005
The Finance Act, 2005 proposes to introduce certain changes to the existing regulations governing banks in India, by
amendment of the Banking Regulation Act, and RBI Act. These proposals relate to:

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Removal of the lower and upper limits on the Statutory Liquidity Ratio;
Removal of the lower and upper limits on the Cash Reserve Ratio;
Permitting banks to issue preference shares;
The introduction of specific provisions to enable consolidated supervision of banks and their subsidiaries by RBI;
Continuation of the tax exemption granted to interest income on Non-Resident (External) Account and Foreign
Currency Deposits;
Introduction of the new provision to provide for set off of losses to banking companies in cases of amalgamation;
Enhancement of credit-linking of Self Help Groups with the Banking System; and
To enable RBI to lend or borrow securities by way of repo, reverse repo or otherwise.
In addition, the GoI has also proposed to enable RBI to sanction banks to give loans to directors and to enable RBI to
remove the board of directors of banks.

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BANK OF BARODA
HISTORY AND CERTAIN CORPORATE MATTERS
We were incorporated on July 20, 1908 under the Baroda Companies Act, 1897 as “Bank of Baroda Limited”, with a paid
up capital of Rs. 1 million. Maharaja Sayajirao III of Baroda was our founder.
Pre Nationalization
Upon attaining Independence, Bank of Baroda, with 48 branches, was still essentially a regional bank. Between 1953
and 1958, 30 new offices were opened and pursuant to certain strategic mergers between 1958 to 1965, the network of
the Bank was extended over 234 branches.
In 1953, the Bank opened its first overseas branch at Mombasa, Kenya. During the period 1953-1969, the Bank opened
three branches in Fiji, five branches in Kenya, three branches in Uganda and one each in London and Guyana. Between
1969 to 1974, we established three branches in Mauritius, two branches in UK and one branch in Fiji. A significant
development in the sphere of overseas operations was the entry of the Bank in the oil rich Gulf countries in 1974 when
two branches were opened in UAE, one at Dubai and another at Abu Dhabi.