ELGi Introduces Air~Alert In India – Smart Monitoring And Alert System For Compressed Air Systems

* IoT-enabled data analysis technology to improve energy efficiency, pre-empt maintenance, and increase uptime of compressed air systems.

Elgi Equipments Limited, one of the world’s leading air compressor manufacturers, announced today the introduction of Air~Alert, an IoT-based Air Compressor Monitoring System, for the Indian market. After a successful launch at the Hannover Messe in Germany earlier this year, the ELGi Air~Alert smart 24/7 remote monitoring and alert system is now available to ELGi’s customers in India for new and existing installations*.

Air~Alert is a data transmission and analysis service that monitors critical parameters and sends out actionable insights and alerts to users. With these insights, customers can improve uptime and maximise efficiency with smart monitoring and data related to air compressor performance. The service also enables customers to act in time and avoid potential failures. Additionally, Air~Alert enables 24/7 remote monitoring of the air compressor. It delivers trend graphs and information about operating parameters, including discharge pressure, oil temperature, variable frequency drive (VFD) speed (where fitted), total running hours, trips, and alerts on a live online interface accessible remotely from anywhere in the world.

Air~Alert also notifies customers and ELGi channel partners about scheduled maintenance and fault occurrences while predicting commonly occurring failures. Monthly summary reports on overall health and operating parameters, including upcoming service requirements and preventative maintenance based on the data obtained, are sent to customers.

The operational and performance data from the compressors are acquired by Air~Alert from the compressor controller, transmitted in an encrypted form, and sent to secure and dedicated Air~Alert servers in the cloud. Smart algorithms then work on the data to enable intelligent prediction with actionable alerts, reports, and trends - which are returned securely to the operators as easy-to-read actionable dashboards.

Throughout the process, the data is structured and analysed to provide smart analysis that helps users to plan maintenance activities, enabling energy efficiency improvements with the compressor. The Air~Alert failure prediction module also predicts if the compressor is likely to fail in the future. At the end of the process, data is translated into comprehensible alerts and reports that allow the user to take timely action.  

With ELGi's Air~Alert, users can track highly informative utilisation trends providing actionable intelligence and take corrective actions, such as: 

Operating pressure band optimisation based on the utilisation rate

Replacing an existing fixed speed unit with a variable speed VFD unit/ or adding a retrofit VFD

Providing an energy efficient, lower size compressor in case of very low utilisation rate

Detecting leaks based on an unexpected change to a higher utilisation rate over time

*The Air~Alert device can be factory-fitted on new ELGi EG, AB, and OF Series compressors or retrofitted on units with a Neuron III, III+, or IV controller.

About ELGi: Elgi Equipments Limited is a global air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems. ELGi has consistently worked towards ensuring that its customers achieve their productivity goals while keeping the cost of ownership low. ELGi offers a complete range of compressed air solutions from oil lubricated and oil free rotary screw compressors, oil lubricated and oil free reciprocating compressors and centrifugal compressors, to dryers, filters and downstream accessories. The company’s portfolio of over 400 products has found wide application across industries. For further information on the organisation and its products, visit http://www.elgi.com

MSME is The Backbone Of Indian Economy For Employment And Development, Says Dr. Bhagwat Kharad, MoS, Ministry Of Finance

* SME Finance Forum 2023 commence their 9th edition of the Global SME Finance Forum 2023 

The Day 1 of the Global SME Finance Forum 2023 saw panel discussions and key note address by some of the renown names as speakers like Mr. Makhtar Diop, Managing Director, International Finance Corporation (recorded speech), Mr. Nandan Nilekani, Co-Founder and Non-Executive Chairman, Infosys and Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, Mr. Dinesh Khara, Chairman, SBI, Mr. Sivasubramanian Ramann, Chairman & MD, SIDBI, Mr. Edwin Bautista, President, and CEO, Union Bank of the Philippines, Mr. Sandy Kemper, Chairman and Chief Executive Officer, C2FO and Ms. Shalini Warrier, Executive Director, Federal Bank, Mr. Thampy Koshy, CEO, ONDC, Mr. Matthew Saal, Digital Finance Specialist, IFC, Mr. Tomás Piuzzi, Director, Head of Small Business Lending, Mercado Libre, Mr. Seyed Mosayeb Alam, Chief of Staff, ShopUp and Ms. Andiswa Bata, Head of the SME Segment, First National Bank, Mr. Gopal Murli Bhagat, Deputy Chief Executive, Indian Banks' Association (IBA) , and Mr. Sandeep Varma, CEO, CGTMSE.  

The SME Finance Forum, a dynamic platform fostering SME financing, kick started its three-day conference today in Mumbai. The theme for this year’s event is, "Digital Ecosystems and the Future of SME Finance”. The conference is co-hosted by Small Industries Development Bank of India (SIDBI) and Indian Bank’s Association (IBA). Over the three-day, 700 participants will attend the event from senior bankers, tech luminaries, to thought leaders from 70 countries and 250 institutions, to discuss digital ecosystems and future of SME finance. 

The conference began with the auspicious lighting of the lamp ceremony by the Chief Guest of the event, Dr Bhagwat Kishanrao Karad, Hon’ble Minister of State, Department of Finance, Government of India.  

Dr Bhagwat Karad, highlighted that, “MSME plays a very important role in the development of the Indian economy. Currently around 6.3 crore MSME enterprises are working in India and have generated around 11.1 crore employment opportunities. Around 30% of GDP comes from MSME and the growth rate every year is 10 percent.” 

He further added that, “The government of India under the leadership of Hon’ble PM Narender Modi has been proactive in removing hurdles for the SME sector, and together with the banking sector, we strive to make financing easily accessible to fuel the growth of these vital enterprises.” 

During the fireside chat session themed Digital ecosystems for the future of SME finance & financial inclusion, Mr. Nandan Nilekani, Co-founder and Chairman of the Board, Infosys, said “SMEs are the biggest beneficiaries of Digital Public Infrastructure (DPI). India is building public trails to access credit and market benefiting SMEs. More than 50 million merchants are opting for digital mode of payment. Digitization helped us generate balance sheet quicker as all the financial details like invoices, transactions, tax credits are easily accessible. Digitization also reduces turnaround time to get loans. In the next 5 years at least 50 countries are going to implement DPI..” 

Mr. Dinesh Khara, Chairman, SBI, who joined virtually in the session titled Unlocking the potential of digital platforms for SME financing said, “In the last ten years, we have witnessed a significant transformation in our bank. There has been a prominent shift from a collateral based lending model to a data-based lending, which has further assisted us in reducing the bank’s overall operational costs. Digitalization has also helped vendors in making faster and more convenient payments, streamlining the MSME loan process. Additionally, digital platforms have been instrumental in catering to the needs of SME customers and creating value for them.” 

Ms. Shalini Warrier, Executive Director, Federal Bank said during that same panel, "In the past, banking operations were primarily conducted manually. However, in recent years, a significant evolution has occurred, with digital technology taking the lead in the sector. One of the notable advancement is the convenience of online is payments through QR codes provided by UPI apps. Nowadays, a substantial portion of transactions occurs digitally on a daily basis, surpassing other traditional payment methods." 

Thampy Koshy, CEO, ONDC, Matthew Saal, Principal Industry Specialist, IFC, and other eminent speakers discussed the role of marketplaces in the SME finance ecosystems.  Key issues faced by the MSME sector in terms of flow of credit, ease of doing business and market facilitation were addressed and solutions through use of digital technologies were also mentioned..  

Lastly, six SME finance innovators demonstrated their technologies and explained their potential to change SME finance. The fintech invited to pitch were: 360tf, Builder.ai, CredAble, ShopUp, Topicus, Uplinq Financial Technologies  

Commenting on the Global SME Finance Forum 2023, Mr. Sivasubramanian Ramann, Chairman & MD, SIDBI, said, “I am grateful for the opportunity extended to SIDBI for hosting such a prestigious event that has witnessed tremendous participation of industry stakeholders across the world and encouraged discussions on very relevant issues and trends on the SME Sector. With India taking the presidency of the G20 for the first time, the country’s views, and outlook on the MSME sector is of significance for the world. The strides made by the Government of India in developing a robust digital infrastructure and the consequent digital innovation by various players in MSME credit domain needs to be discussed, encouraged as also celebrated. 

Mr. Qamar Saleem, Incoming SME Finance Forum CEO, said, “I am thrilled to see the level of participation and richness of discussions during first day of Global SME Finance Forum here in Mumbai. We have more than 700 executives representing more than 70 countries and 250 institutions gathered here. It is also fitting that the event is hosted by India which is at the cutting edge of digital infrastructure and innovations steering SME finance. I am really excited as the event unfolds which would feature over 90 speakers across 15 panels, 10 study tours to leading institutions in India, our flagship SME finance annual awards, and brainstorming sessions on key thematic game changing topics. It has been a privilege to partner with SIDBI, IBA as cohosts and SBI as Diamond sponsors to the event and we thank them for all their support. SME finance Forum and IFC remain committed to supporting the private sector globally in playing a catalytical role to support SMEs as they drive economic growth and create jobs”   

Bisk Farm Appoints Saikat Ghosh As Senior Vice President And Head Of Sales

SAJ Food Products Pvt Ltd, one of India’s leading FMCG company known for its Bisk Farm brand of biscuits, has announced the appointment of Mr. Saikat Ghosh as the Senior Vice President and Head of Sales for its flagship brand, Bisk Farm. The brand is popular for its delectable range encompassing Biscuits, Cookies, Cakes, Wafers, and Rusks. The brand's irresistible offerings have earned it a special place in the hearts of Indian consumers.

Expressing his delight on the appointment of Mr. Ghosh, the Executive Chairman of SAJ Food Products Pvt Ltd. Mr. Arpan Paul, said ”We warmly welcome Saikat to the Bisk Farm family. His extensive experience and outstanding accomplishments in the FMCG sector align perfectly with our vision of becoming the leading biscuit and confectionery brand in India. We firmly believe that his leadership will be instrumental in propelling Bisk Farm toward new horizons of growth.“

Saikat Ghosh brings with him a wealth of experience to his new role, garnered over multiple successful stints in the FMCG domain. Most notably, he made significant contributions during his 15-year tenure at Dabur India, followed by over a decade of pivotal involvement with Emami Ltd. Mr. Ghosh's expertise spans various facets of the fast-moving consumer goods industry. His profound insights and strategic acumen are poised to drive Bisk Farm's growth to new heights.

Echoing Mr. Paul's views, Mr. Vijay Kumar Singh, Bisk Farm's Managing Director, added, "Mr. Ghosh's appointment comes at a crucial juncture as we seek to strengthen our market presence. With his deep industry knowledge and proven leadership, we are confident that he will be able to lead our sales team and contribute to Bisk Farm's continued success.”

"I am delighted to join Bisk Farm, a brand that has truly captured the hearts of millions,” Saikat Ghosh stated. “I am confident that, together with our people as well as business partners, we can build on the brand's strong foundation and contribute to the brand's mission of delivering exceptional products, fostering sustainable growth, and elevating Bisk Farm to greater heights.”

ABOUT SAJ Food Products

SAJ Food Products Pvt Ltd, headquartered in Kolkata is one of India’s leading FMCG Companies. Founded in 2000, SAJ Food has attained the position of becoming India’s fourth-largest biscuit and bakery manufacturing company with a presence across 23 states in India. Currently, SAJ operates with six state-of-the-art manufacturing facilities spread across three states – Maharashtra (Nagpur), Karnataka (Bengaluru) and West Bengal (Siliguri, Uluberia, Dhulagarh).

Bisk Farm, the flagship brand of the company is one of India’s most loved biscuit & confectionery brands known for its delectable Biscuits, Cookies, Cakes, Wafers and Rusks.

Indiaah is the brand for its Namkeen and Sweets category. It has products like Bhujia, Moong Dal, Chana Dal, Chira, Masala Mixture and Rasgulla, Gulab Jamun, Soan Papdi etc.

Through the retail chain of Just Baked outlets, SAJ Food offers delectable Savouries, Confectionaries and Breads topped off with a range of hot and cold beverages.

Students From Bangalore Explore Higher Education Options With Globally Ranked Australian Universities

·         The day-long event showcased Australia’s excellence in education and facilitated engagement of students, parents, education counsellors and heads of institutions.

The Study Australia Showcase organised by the Australian Trade and Investment Commission (Australian Government agency) in Bangalore on Monday was well attended by students, parents, and education leaders.

The roadshow served as a valuable platform for both students and parents to engage directly with representatives of 15 Australian universities. Students also had the opportunity to hear from the representatives of Australian states and territories, Australian Department of Home Affairs and the Australian Department of Education.

The day-long event showcased Australia’s excellence in education and provided online tools to find the best Australian study option for students.

The showcase also highlighted Australian Government initiatives designed to shape the global careers of Indian students.

Talking about the initiatives, Dr. Monica Kennedy, Senior Trade & Investment Commissioner, Australian Trade and Investment Commission (Austrade), Australian Government, said, "We collaborate extensively with Indian students to ensure that they are making optimal choices when considering studying in Australia. Through our Study Australia showcase, we deliver the latest, reliable, and pertinent information to students, parents, educational counsellors, and agents. The active engagement of all stakeholders contributed significantly to the triumph of the event, and we take pleasure in addressing their inquiries. An impressive number of students have expressed their eagerness to select Australia as their preferred location for advanced education, and we are excitedly looking forward to accommodating them all."

The showcase offered participants information about the process of obtaining a student visa and representatives from the Australian government also shared detailed information about scholarships and student life in Australia.

Over the years, an increasing number of Indian students are opting to study in Australia for its world-class education, post-study work opportunities and quality of living. As of June 2023, over 98,000 Indian students are studying on Australia.

Australia is consistently recognised in global rankings for its research excellence, liveability, learner satisfaction and employment outcomes. Australian educational institutions have garnered remarkable recognition at the recently announced QS World University Rankings 2024. 

As per QS Rankings 2024, three Australian universities are in the global top 20 universities and nine universities are in top 100. 95% of Australian universities are globally ranked.

About The Australian Trade and Investment Commission

The Australian Trade and Investment Commission (Austrade) is the Australian Government’s international trade promotion and investment attraction agency. We deliver quality trade and investment services to businesses to grow Australia’s prosperity. We do this by generating and providing market information and insights, promoting Australian capability, and facilitating connections through our extensive global network.

We position Australian education internationally by highlighting global relevance, practicality and quality of Australia's education providers, along with their innovation, creativity and focus on the future.

To discover how we can help you, visit https://www.austrade.gov.au/

To know more about Study Australia, visit www.studyaustralia.gov.au

Boeing Calls On Startups & Students To Innovate The Next Great Idea

* Now inviting applications for Boeing University Innovation Leadership Development (BUILD) program 2023-24.

Boeing India is now inviting applications for the Boeing University Innovation Leadership Development (BUILD) program for 2023-24 from university students and early-stage startups in India. In its third edition now, the program encourages young entrepreneurial minds to incubate innovative ideas and create new market opportunities and global trends across industry verticals.

“Every year, BUILD brings people, ideas, technologies, and processes together to nurture solutions that are viable and critical for the country. At Boeing, we are committed to contributing to the fast-growing startup ecosystem in India, and helping it harness many possibilities through the bright young minds of today,” said Salil Gupte, president, Boeing India. “I would like to thank our incubator partners for their continued partnership and contribution to BUILD,” he added.

Boeing continues to partner with seven incubators, namely, Society for Innovation and Entrepreneurship – IIT Mumbai, Foundation for Innovation and Technology Transfer – IIT Delhi, Innovation and Entrepreneurship Center – IIT Gandhinagar, IIT Madras Incubation Cell, Society for Innovation and Development – IISC Bengaluru, T-Hub Hyderabad, and Technology Business Incubator – KIIT Bhubaneshwar, to organize BUILD in India. The applicants will be invited to submit ideas in the fields of aerospace and defense, technology, social impact, and sustainability.

The shortlisted teams will compete at a regional-level boot camp, and finalists will pitch their ideas to subject-matter experts on Boeing Immersion Day, to be held in Q1, 2024. The winners stand a chance to win cash prizes worth INR 10 lakh for each of the seven winning ideas from across the incubators. Boeing mentors and industry experts will interact and closely work with the finalists to refine and suggest ways to convert ideas into viable business offerings.

Ahmed Elsherbini, managing director, Boeing India Engineering & Technology Center, and chief engineer, Boeing India said, “BUILD has become a leading platform in the country’s startup ecosystem for creating and redefining solutions across key industries in the country. I am excited to see how ideas from ground up are nurtured, built, and sustained here, and the valuable results of enhanced interaction between our engineers, technologists, and the student and start-up community.”

Interested students and entrepreneurs can apply to the BUILD program at https://www.boeing.co.in/boeing-in-india/build.page. The deadline for idea submissions is November 10, 2023.

Application eligibility: University graduates of 2023, faculty, and budding entrepreneurs

Boeing and incubator support: Boeing and seven incubators partner to invite participation from across India

Shortlisted teams to be mentored by Boeing experts and incubator mentors to refine and convert ideas to viable business offerings

Each of the seven winning teams to receive a cash prize worth INR 10,00,000/-

Last date of idea submission: November 10, 2023

In 2022, BUILD attracted a record number of entrants with 800+ ideas submitted by more than 1,600 students and start-up participants applying from tier 1, tier 2, and tier 3 cities across India. Boeing India has been helping contribute to skill development and capability building in the country over the years with other programs such as the HorizonX India Innovation Challenge and Accelerated Aircraft Maintenance Engineers Apprenticeship as well.

About Boeing in India

Boeing is focused on delivering value to Indian customers with advanced technologies and is committed to creating sustainable value in the Indian aerospace sector – developing local suppliers, and shaping academic and research collaborations with Indian institutions. Boeing has strengthened its supply chain with more than 300 local companies in India and a joint venture to manufacture fuselages for Apache helicopters and vertical fin structures for the 737 family of airplanes. Annual sourcing from India stands at over $1 billion. Boeing currently employs over 5,000 people in India, and more than 13,000 people work with its supply chain partners. Boeing’s employee efforts and country-wide engagement serve communities and citizenship programs to inspire change and make an impact on more than 500,000 lives. Learn more at www.boeing.co.in. 

Photo Caption: (L-R) Boeing incubator partners, Ahmed Elsherbini, managing director of BIETC ((4th from left)), Aarti Singh, CIO, Boeing India; Salil Gupte, president, Boeing India; Tony Hagen, Vice President, BGS Chief Engineer; Lynne Hopper, Vice President and General Manager, Engineering Strategy & Operations, Boeing, along with Capt Roy Joseph, Innovations For Defence Excellence (2nd from the right, front row) at the launch of the third edition of Boeing University Innovation Leadership Development Program, 2023 today.

TKM Showcases Special-Purpose Iconic Hilux During The North Tech Symposium (2023)

Basis comprehensive market survey, TKM displayed special-purpose Hilux (two vehicles) modified with the support of an authorized external vendor, that can fulfil specific customer requirements, suiting varied needs, and apt for army usage

Jammu, 12 September 2023: Toyota Kirloskar Motor (TKM) today showcased two special purpose iconic Hilux, modified with the support of an authorised external vendor, at the North Tech Symposium 2023 (NTS), a technology-showcase annual event conducted by the Northern Command of the Indian Army in collaboration with Society of Indian Defence Manufacturers (SIDM) & IIT Jammu. This event aims to promote state-of-the-art indigenous development and production of defence technological capabilities and attain “Atmanirbharta” (self-reliance in defence sector). Further, this year reflects a bigger leap in reinforcing the Indian army’s endeavours in the areas of Synergy & Research Development and Innovation for modernization of the Indian army.

Having conducted comprehensive market survey to understand the different mobility requirements of the specific consumers which includes Indian Army, TKM through its authorised external vendor has made certain modifications on the versatile Hilux (two units displayed), to suit the varied needs which can also aptly meet the Indian army requirements. These curated vehicles signify TKM’s commitment to identify unique solutions to meet special customers’ requirements including army usage, and thus support the evolving mobility needs across markets and verticals, thereby providing ‘Mobility for All’.

Further to such market survey, TKM has applied two distinct modifications through an authorised external vendor, to the Toyota Hilux namely the Field Diagnosis Vehicle (FDV) and the Rapid Intervention Vehicle (RIV), to serve specific army needs and other special consumer requirements. Given the operational and logistic challenges of Indian army, owing to diverse terrain and climatic conditions, it necessitates more customisation and dedicated solutions to significantly overcome the on-ground challenges of the troops. In this direction, the FDV is designed to provide essential vehicle servicing in remote locations, supporting the Army at defence sites. On the other hand, the RIV is equipped for firefighting and rescue operations during emergency situations. In addition to these modified versions, the general-purpose Hilux (catering to the general customers’ personal and business uses) was also on display at the Symposium being held during Sep 11-13th at the IIT, Jammu. Reiterating, during July 2023, TKM handed over a fleet of Toyota Hilux, marking the company’s first-ever delivery of its Hilux to the Indian Army.

Commenting on the occasion, Mr. V. Wiseline Sigamani, General Manager – Strategic Business Unit (North) of Toyota Kirloskar Motor, said “We take great pride and consider it a true honour at TKM to have the opportunity to present the customized variants of the iconic Hilux, during the North Tech Symposium 2023, thereby displaying our technological prowess and offer solutions to the Indian army. Following an in-depth study conducted by our team, we have identified and developed few upgrades to the Hilux through our authorised external vendor, that can greatly benefit the other special customers and the Indian Army. Needless to mention, world-wide, the Hilux is celebrated for its exceptional off-road capabilities, unmatched reliability, powerful performance, and advanced safety features. Looking ahead, we remain committed to providing unwavering support to our esteemed Indian army by tailoring our Hilux offerings to meet their unique needs and serve specific defence purposes”.

Globally, the Hilux sales have surpassed 20 million units winning hearts of many discerning customers from over 180 countries. Through more than five decades and eight generations, the Toyota Hilux has created extraordinary experiences and an unbreakable bond with those who desire awesome drives. The Toyota Hilux, which is tailored to meet the needs of customers seeking a versatile utility vehicle, excels not only in off-roading adventures on challenging terrains but also in everyday city use. Furthermore, it caters to emerging businesses, serving as a campervan, supporting farming, defence, mining, construction, and functioning as a rescue van, among other applications.

With its robust powertrain featuring a 2.8-liter Four-Cylinder Turbo-Diesel Engine, the Hilux offers a choice between a 6-Speed Automatic and 6-Speed Manual Transmission. Alongside its impressive array of features and a powerful engine, the Hilux stands out for its exceptional durability, cost-effective maintenance, and versatile practicality across a range of applications. Additionally, the Hilux's impressive water wading capacity of 700mm positions it as an ideal choice for navigating rugged Indian trails, setting a new benchmark in off-road capability.

As the demand for 4x4 SUVs continues to grow in India, the Toyota Hilux has received significant acclaim from customers due to its attractive design and excellent driving comfort. Furthermore, TKM recently announced its foray into the 4X4 Expedition, specially curated experiential drives, designed to connect with the 4x4 enthusiasts and provide opportunities to unleash the true potential of their 4x4 SUVs including the legendary Hilux. The first-ever ‘Great 4x4 Expedition by Toyota’ started with a zonal drive in South of India during May 2023, followed by the West Zone held in Sep 2023, where 4X4 enthusiasts participate in a thrilling journey with adventure and community camaraderie as a key essence. Soon, this expedition will continue in the Eastern and Northern zones as well.

Bank of Baroda Unveils Festive Campaign “BOB Ke Sang Tyohaar Ki Umang”

* Launches 4 New SB Accounts; Attractive Rates on Home, Car, Personal, Education Loans; Festive Offers on Debit and Credit Cards   

* Home Loans starting at 8.40% p.a.; Car Loans at 8.70% p.a., Education Loans at 8.55% p.a.; Personal Loans at 10.10% p.a. with nil processing fee 

*  Launch of a range of Savings Accounts to meet the varying needs of customers with a host of benefits/concessions 

* Festive offers and discounts across leading consumer brands on Debit & Credit Cards and EMI offers 

As the much-awaited festive season begins, Bank of Baroda (Bank), one of India’s leading public sector banks announced the launch of “BOB Ke Sang Tyohaar Ki Umang” festive campaign, which will run up to 31st December, 2023. Bank of Baroda’s festival offers include the launch of 4 new savings accounts with a host of benefits & concessions and attractive interest rate offers on Home, Car, Personal & Education Loans. The Bank has also tied up with Top Brands across categories such as Electronics, Travel and Food to provide festive offers and discounts for its Debit and Credit Card holders.  

During the festive period, Bank of Baroda Home Loans will be available at a highly competitive rate of 8.40% p.a. onwards – with complete waiver of processing fees. Baroda Car Loans start at 8.70% p.a. onwards with nil processing fee. On Education Loans, the Bank has introduced a special rate beginning at 8.55% p.a., a discount of up to 60 basis points, and without collateral for students who have secured admissions in identified premier educational institutions in the country. Baroda Personal Loans start at 10.10% p.a. – a discount of up to 80 basis points, with nil processing fee and higher loan limits up to Rs 20 lakh. The Bank has introduced a fixed rate of interest option in Personal & Car Loans and borrowers can now choose between fixed and floating rate of interest.  

Notably, the interest on Bank of Baroda loans are calculated on the Daily Reducing Balance method, and not on the Monthly Reducing Balance method, making it more affordable for borrowers. Further, the Bank has established 112 Retail Asset Processing Centres (RAPC) in various cities for faster mortgage-based loan processing.  

The Bank has also introduced a range of Savings Accounts for the benefit of its customers. These include the bob LITE Savings Account – a Lifetime No Minimum Balance Account; the BOB BRO Savings Account – a Zero Balance Savings Account for Students (16 to 25 years), the My Family My Bank/BOB Parivar Account – a Family Savings Account designed to meet the needs of the entire family and the Baroda NRI PowerPack Account. The Bank has also launched the BOB SDP (Systematic Deposit Plan), which is a recurring deposit scheme. During the festive period, these Savings Accounts come with a range of benefits & concessions.  

Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, "The festive season is upon us and we are already seeing the early signs of a spur in demand with high-frequency indicators such as car sales and credit card spends registering record highs. Bank of Baroda’s festive campaign 'BOB Ke Sang Tyohaar Ki Umang' brings together a suite of attractive offerings across savings accounts, loans, and credit & debit cards. These attractive festive offers coupled with the convenience of our digital platforms will make the festive season even more rewarding and joyous for people, thereby giving a significant boost to demand.” 

Bank of Baroda has also introduced attractive exclusive offers and discounts on Bank of Baroda Debit and Credit Cards and EMI offers this festive season. The Bank has tied up with leading brands across categories such as Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment, Lifestyle, Grocery and Health. 

Bank of Baroda's Digital Lending platform offers a quick and convenient way to access a variety of loans. Both existing and new customers can apply easily via the bob World mobile banking app, net banking, or the Bank of Baroda website.