Summer Internship Project Report: On Market Mapping and Credit Card Sourcing

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Summer Internship Project Report

on
Market Mapping and Credit Card Sourcing
BOB Financial Solution Limited

Submitted By:

MRINAL MILLAN ROUTRAY

MBA 3rd Semester (2021-2023)

Regd. No. – 2106266058


(A project report submitted to Biju Patnaik University of

Technology (BPUT), Rourkela, Odisha for partial fulfilment of the

Requirements for the award of Degree of MBA Program)

Under the guidance of


External Guide: - Internal Guide: -
Mr. Anurag Sahoo Mr. Pravash Kumar Jena

TRIDENT SCHOOL OF BUSINESS


BHUBANESWAR
1
Company Certificate

2
Guide Certificate

This is certified that Mr. Mrinal Millan Routray, a student of 3rd Semester MBA of “Trident Academy
of Creative Technology”, Bhubaneswar has successfully completed her Internship Project on the topic
of “Market Mapping and Credit Card Sourcing”. He has worked on the summer internship project
from 10/18/2022 to 12/02/2022. Her performance during the project was extremely satisfactory.

Signature:

Name of The Guide: Mr. Pravash Kumar Jena

Dt:

3
Acknowledgement
For the successful completion of this project work, I would like to extend my thanks and cordial sense of
gratitude to my guide Mr. Pravash Kumar Jena (Assistant Professor) for him continuous guidance for
preparing the Project.

I would like to give the special thanks to Trident Academy of Creative Technology, who gave me the
opportunity who gave my skills and knowledge straight to the company. Which was challenging and
interesting at the same time.

I am highly indebted Mr Anurag Sahoo., my company guide, who guided me during the internship period
and suggested many issues which has been taken care in my project work.

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Declaration

I am Mrinal Millan Routray , a Bonafede student of Trident Academy of Creative Technology,


Bhubaneswar pursuing in MBA, do hereby declare that the study entitled “MARKETING” is my core
work, I have completed my study under guidance of Mr. Pravash Kumar Jena, Trident Academy of
Creative Technology ,Bhubaneswar. And Mr. Anurag Sahoo, All the data furnished in this project report
are authentic, genuine and this report neither full nor in part has ever been submitted for award of any other
degree to either this university or any other university.

MRINAL MILLAN ROUTRAY


MBA(2021-2023)
Regd. No.: - 2106266058
Trident Academy of Creative Technology, Bhubaneswar.

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Abstract/Executive Summary

The internship at BOB Financial Limited Solution, provided me the chance to learn about the various aspect
of credit card sourcing. It provides me the opportunity to interact with different people from various banking
sector and Co-workings and get to know about their work experience and the problem they are facing while
working. The company basically provides different types of credit card. Working with BOB Financial
Limited Solution provided me the great opportunity to learn the various aspects of sales. I learned how to
convince the people to buy services. Working with sales team taught me how to deal with different type of
people.

SL.NO. CONTENTS PAGE NO.

6
1 Introduction 8-9

2 Industry Analysis 10-11

3 Company Analysis 12-27

4 Competitor Analysis 28-29

5 Client and Customer Analysis 30

6 Challenges faced by the 31


Company

7 Training Experience 32
& Scope of Improvement

8 Conclusion 33

9 Bibliography 34

Table of content

7
Chapter-1
1.Introduction: -

BOB Financial Solutions Limited is a Union Govt company, incorporated on 29 Sep, 1994. It's a public
unlisted company and is classified as company limited by shares.
Company's authorized capital stands at Rs 20000.0 lakhs and has 87.5% paid-up capital which is Rs 17500.0
lakhs. BOB Financial Solutions Limited last annual general meet (AGM) happened on 29 Sep, 2017. The
company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).
BOB Financial Solutions Limited is majorly in Finance business from last 29 years and currently, company
operations are active.
Company is registered in Mumbai (Maharashtra) Registrar Office. BOB Financial Solutions Limited
registered address is 2nd Floor, Baroda House Behind Dewan Shopping Centre, Jogeswari - West Mumbai
MH 400102 IN

BOB Financial Solutions Limited Details


CIN U65990MH1994GOI081616
Date of Incorporation 29 Sep, 1994
Status Active
Company Category Company limited by Shares
Company Sub-category Union Govt company
Company Class Public
Business Activity Finance
Authorized Capital 20000.0 lakhs
Paid-up Capital 17500.0 lakhs
Paid-up Capital % 87.5
Registrar Office City Mumbai
Registered State Maharashtra
Registration Number 81616
Registration Date 29 Sep, 1994
Listing Status Unlisted
AGM last held on 29 Sep, 2017
Balance Sheet last updated on 31 Mar, 2017

Mission: -To be a top-ranking National Bank of International Standards committed augmenting


stake holders value through concern, care and competence.
Vision: - A vibrant rural economy driven by new and growing business.
Values: -We treat our customers in a polite manner, in exactly the same way we would like to be treated
ourselves. We deliver customer service with honesty, responsiveness, transparency, respect, value loyalty
and with an aim to resolve any real or potential problem.

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1.1Objective of the Study:-
To learn about the sales strategies and how convincing the customer and how promoting the services.
To understand how sales are carried out.
To gain practical knowledge about the credit card industry, market mapping and hands-on experience in
selling.
1.2Scope of the Study:-
This study is focusing on how the customers get the proper services and satisfied customer and help them
when they are faced some problem with the services.
1.3Methodology:-
The internship was entirely offline,Iwas assigned a dedicated mentor who guided me throughout 1 month.
During the internship I was involved several activities, including:
Sales:- I was trained on how to handle the sales,which included following up on leads,conducting sales
pitches, and handling customer objections.I learned how to maintain customer relationships,which is most
crucial part for sales and retaining the customers.
Customer Services:- I was involved in convincing the customers through the call and responding to
customer enquires and providing technical support to customers who needed assistance.I was trained how to
handle complaints and ensure customer satisfaction.
Outcome:- The internship experience at BOB Financial Solution Limited was incrediably beneficial to me. I
gained practical knowledge and skills in sales and market mapping and customer service.

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Chapter-2
Industry Analysis:-
The last decade has seen many positive developments in the Indian banking sector. Thepolicy makers, which
comprise the Reserve Bank of India (RBI), Ministry of Finance andrelated government and financial sector
regulatory entities, have made several notable effortsto improve regulation in the sector. The sector now
compares favorably with banking sectorsin the region on metrics like growth, profitability and non-
performing assets (NPAs). A fewbanks have established an outstanding track record of innovation, growth
and value creation.This is reflected in their market valuation. However, improved regulations,
innovation,growth and value creation in the sector remain limited to a small part of it. The cost of banking
intermediation in India is higher and bank penetration is far lower than in other markets.

Indias banking industry must strengthen itself significantly if it has to support the modern and vibrant
economy which India aspires to be. While the onus for this change liesmainly with bank managements, an
enabling policy and regulatory framework will also be critical to their success.The failure to respond to
changing market realities has stunted the development of the financial sector in many developing countries.
A weak banking structure has been unable to fuel continued growth, which has harmed the long-term health
of their economies. In this “white paper”, we emphasize the need to act both decisively and quickly to build
an enabling,rather than a limiting, banking sector in India.
The Indian Credit Card industry hsd 34 issues with more thsn 7.36cr. credit cards outstanding as of 31st
March 2022.(source – RBI).
The number of credit cards grew approximately 19% from 6.2cr. as of March 2021 to 7.36cr. as of March
2022.The growth was more than double compared to FY 20-21,aided by easing of the pandemic and lifting
of regulatory embargo (on new issuance) on a large issuer.
In trems of spends,the industry grew by 54% in FY 21-22 compared to FY 20-21 (from Rs. 6.32 lakh cr.to
Rs. 9.75cr.).This was a welcome recovery after the 14% fall in spends in the previous FY,primarily due to
the restrictions imposed to contain the pandemic.
In other key industry developments,the regulator continued to mandate measures that would increase the
security of transactions and give more control to the customer.These were manifested in measures like Card
Control,E-Mnadates and Tokenization.
The share of digital,both in new customer acquisition as well as usage(e-commerce transactions) continued
to increase,along with increase in Fintech activity in terms of product and process innovations to enhance
customer experience.
Marketing:-
When it comes to marketing strategy,the company followed a thumb rule of EVOLUTION i.e. always
getting inspired by our environment,continuously honing our capabilities,and shaping our present for the
future in vision.To enhance our growth potential in the FY 21-22,the company focused on adopting digital
ways of marketing strategy for the FY 21-22 was again focused on pushing brand awareness,enhanced
engagement,and incremental conversion.
 The Company opened the year with the vision to launch another communication platform going by
the statistics that say on average any company needs to have 7-8 touch points to get noticed by its
potential customers,and that’s how the Company launched Twitter in the first quarter of the year.
 The Company delivered marketimg campaigns across owned,earned & paid media consisting Social
Media Mraketing,Email Marketing,Affiliate Marketing,SMS Marketimg,Mobile&Website
Marketing.
 With a commitment to make our customer relationship palette more colourful,and full of
happiness,the Company launched the brand campaign ‘Chhoti Khusiyan Badhti Rahein’ and started
a conversation in a world that was full of disbelief,fear,uncertainty at that time.The
Companybrought forward and the importance of little joys in life that brings the widest smiles.And
the Company did it with a bouquet full of offers on our cards to help our customers plan their
festivities,starting from Ganesh Chaturthi in August to Diwali Festive Shopping Rewards, and then
to ring in New Year with more cheers followed till Holi March.Festivals were planned with elan for
our customers,so the everyday shopping rewards with saving delights on every transaction.

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 All throughout. The Company kept data in front of our eyes, and strategically blended it for our
demand generation efforts; to keep the marketing funnel of Awareness >>Consideration>>
consistently agile, and have all the way from the anonymous social fan or website visitor to a
delighted customer throughout the customers lifetime. The Company did brand campaigns for each
of the funnels and kept striving for new customers while continuously thriving association with our
existing family.
Technology:-
The Company made significant progress in its technology initiatives to strengthen its technology and data
security capabilities and emerge as a leading digital player among the various credit card issuers.Some of the
key enablers accomplished during the year are enumerated below:
 Migration to Vision Plus to scale the Companys business volumes manifold by designing
various customer value propositions and introduce new revenue streams and provide
multiple self-service options to customrs;
 Introductionof Fusion (API Layer) to help introduce new channels of custimer
onboarding,loyalty amd seamless multiple integrations;
 Data Lake integrated with BI to help identify right customer and their segment for upsale
and deliver enhanced business intelligence by streamlining the flow of informations:
 Launched new products with rich and exclusive features to help tap affluent segments;
 Launched digital onboarding channels-Customers Do-It-Yourself and RM Assistant
(TABIT) for better lead management, workflow management, automated decision making
and exception management;
 Setup new embossing partners on vision plus and bureau data scrubbing;
 Completed security tool implementation-Managed Detection and Response
(MDR) ,Endpoint Detection and Response (EDR), email security and introduction of Data
Loss Prevention Tool.
Initiatives Undertaken:-
 Restructuring of the grievance redressal mechanism and quick resolution to enhance level of
customer satisfaction.
 The Company adopted CRM solution for the Contact Centre and Email Interaction with customers
for one-view, timely response and resolutions.
 Further strengthened Call Centre through extended setup at BCP location.
Customer Service:-
Service delivery excellence is core to relationship with the customers and continues to be a focus area for the
Company.With clear intend to emerge asa customer friendly organization, revisiting and revising internal
Policies and Processes to make them more efficient, also adopting trending technology solutions to
revolutionize our Customer Experience standards.
With an aim of transform the customer journey through onboarding, Lifecycle management right upto
closure,the Company adopted Talisma as its Customer Relationship Management(CRM) tool. We embraced
the multipronged approach of:
 Customer Engagement through proper trackicng and managing customer journey in delivering
superior experience.
 Customer Experience upliftment through processes and innovation on doing better every time.
 Service Agent empowermenmt through better decisioning by way of providing real time
information at the click of a buton.
 Measurable service parameters to ensure accountability and focus on continuous improvements on
both qualitative and quantitative aspects.

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Chapter-3
Company Analysis:-
1. About the Company:-

BOB Financial Solutions Limited was established in the year 1994. A Non-Banking Financial Company and
wholly owned subsidiary of Bank of Baroda, it has established itself as a pioneer in the space of credit cards.
BOB Financial offers an array of consumer & commercial credit cards and caters to all segments of
customers with varied needs, including but not limited to everyday Shopping Cards, Travel Cards, Business
Cards for large corporates as well as MSMEs. The company has exclusive credit cards for Defence
Personnel including the Indian Army, Indian Navy, the Indian Coast Guard, Assam Rifles, professionals like
ICAI, ICMAI & ICSI, co-branded cards with HPCL, Snapdeal, IRCTC, Premium Lifestyle cards like
Eterna, Premier, and more such exciting variants. BOB Financial Solution's key differentiator are easy-to-
understand products that are fairly priced, efficiently serviced, and can easily be availed through the digital-
all application process.
BOB Financial Solutions Limited is also the merchant payment processing partner of Bank of Baroda
merchant acquiring business.
Not just a plastic card, Bank of Baroda Credit Card is your anytime money, your easy to access, the
exclusive credit card that has the power to meet your specific needs and enhance your life experiences.
 A lifestyle you aspire to live
 Your cashless travel partner
 Your shopping companion
And it does all this by bringing to you exciting privileges across shopping, dining, travel, entertainment and
more through carefully picked merchant offers.
What's more, you also earn rewards in form of reward points when you shop for these and other
requirements using your Bank of Baroda Credit Card.
So it does not just empower you with Instant Credit, it delights by adding to your Savings too!
And applying for Bank of Baroda Credit Cards is simplest. We have a very simple 3-steps online application
process with no need for a branch visit & any paperwork.
Step 1: Simply select the card of your choice
Step 2: Complete the process online only by E-signing your application using Aadhaar
Step 3: Verify your identity choosing VKYC
Produt and Services By BOB:-
Bank of Baroda offers a variety of financial products to its customers, which includes credit cards, debit
cards, loans, deposits, etc. The bank provides various credit cards that have attractive features and benefits to
offer and are accepted by merchants and ATMs globally.
Bank of Baroda, established in the year 1908, is a leading bank in India. It is one of the largest public sector
banks in the country, providing banking solutions to people all over the world. It has over 5000 branches
with its headquarters present in Vadodara, Gujarat.
Important Notice: Vijaya Bank & Dena Bank has merged with Bank of Baroda with effect from April 01
2019.

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Bank of Baroda Card Variant Joining Fee Annual Fee

BOB Prime Credit Card Nil Nil

BOB ICAI Exclusive Credit Card Nil Nil

BOB ICSI Diamond Credit Card Nil Nil

BOB CMA One Credit Card Nil Nil

BOB Assure Credit Card Nil Rs.500

BOB Titanium Master Credit Card Rs.250 Rs.500

BOBCARD Easy Credit Card Rs.500 Rs.500

Co-Branded Card (BOBCARD Bombay Bullion) Rs.500 Rs.1,000

BOB Elite Platinum Visa Credit Card Rs.500 Rs.1,000

BOB Signature Visa Credit Card Rs.500 Rs.1,000

BOB SELECT Credit Card Rs.750 Rs.750

BOB Premier Credit Card Rs.1,000 Rs.1,000

BOB Paytm Credit Card Rs.2,000 Rs.2,000

BOB ETERNA Credit Card Rs.2,499 Rs.2,499

Bank Top of Baroda Credit Cards in 2023

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Features and Benefits of BOB Credit Cards

The credit cards offered by Bank of Baroda are valid for use in any part of the world
Validity
and are accepted by more than a million ATMs

24x7 Bank of Baroda provides 24x7 customer care service to its credit cardholders. People
Customer can call up on the 24x7 Bank of Baroda credit card customer care to get any help or
Care Service information related to their card.

Loyalty Bank of Baroda credit cardholders earn loyalty points when they spend money using
Points their cards

Add on Cards Most credit cards offered by Bank of Baroda come with free Add on cards

Annual Fee If cardholders spend a certain amount of money annually using their Bank of Baroda
Waiver credit card and pay their bills regularly, the bank will waive off their annual fee

Bank of Baroda provides exclusive offers such as 0% fuel surcharge, attractive


Exclusive discounts on international and domestic air tickets, hotel bookings, holiday bookings,
Offers etc. on all its credit cards. Apart from this, the cardholders enjoy dining, shopping,
hotel, etc. privileges and benefits offered by Visa and MasterCard

Credit cards offered Bank of Baroda come with an in-built Personal Accidental Death
Insurance
Coverage. Here, the bank provides coverage to cardholders in case of accidents for
Coverage
free. The amount of coverage differs depending on the card

Insta Pay The Insta Pay service of Bank of Baroda have made it very easy and simple for credit
Service cardholders to pay their bills online

Credit cards offered by Bank of Baroda come with a security chip, which provides
protection from fraudulent activities
Security

Bank of Baroda Prime Credit Card


Key Highlights: BOB Prime Credit Card allows you to earn cashback every time you swipe your credit
card.
Joining Fee: NIL
Annual Fee: NIL
Features and Benefits:
 Guaranteed issuance against fixed deposit of 15,000 or more without any income proof.
 1% cashback on all spends.
 Fuel Surcharge Waiver
 Zero first year and annual fees.

14
Bank of Baroda ICAI Exclusive Credit Card
Key Highlights: BOB ICAI Exclusive Credit Card allows you, as a member for the ICAI to earn reward
points every time you spend with your credit card.
Joining Fee: NIL
Annual Fee: NIL
Features and Benefits:
 You will get 5 reward points for every Rs.100 that you spend on online, utility bills, and dining.
 You can get up to 3 free add-on cards.
 You can get a 1% waiver on fuel surcharge at all petrol stations across the country.
Bank of Baroda ICSI Diamond Credit Card
Key Highlights: BOB ICSI Diamond Credit Card gives you up to 50 days of interest free credit along with
world-class privileges.
Joining Fee: NIL
Annual Fee: NIL
Features and Benefits:
 You will get a 6-months free FitPass Pro membership of Rs.15,000.
 Get 5 reward points every time you swipe your card for Rs.100 on dining, online expenses, and
utility bills.
 You will earn 1,000 reward points when you use the credit card within the first 30 days of it being
issued.
Bank of Baroda CMA One Credit Card
Key Highlights: BOB CMA One Credit Card allows you to earn reward points every time you swipe your
credit card.
Joining Fee: NIL
Annual Fee: NIL
Features and Benefits:
 You will earn 5 reward points for every Rs.100 you spend on dining, utility bills, and other online
payments.
 On completing five transactions worth Rs.1,000 and above each month on your card, you will earn
1,000 bonus reward points.
Bank of Baroda Assure Credit Card
Key Highlights: The BOB Assure Credit Card is available at an annual fee of Rs.500 and you can withdraw
your credit limit if you have an emergency.
Joining Fee: NIL
Annual Fee: Rs.500
Features and Benefits:
 Get a credit card without any income proof, against your Fixed Deposit
 Cash withdrawal up to 100% of your Credit Limit in case of emergency
 Zero fuel surcharge
 No annual fees basis card usage

15
Bank of Baroda Titanium Master Credit Card
Key Highlights: BOB Titanium Master Credit Card is affiliated with MasterCard international and valid
throughout the world.
Joining Fee: Rs.250
Annual Fee: Rs.500
Features and Benefits:
 Loyalty points: 1 on purchase of Rs.100
 Annual fee is waived on spend of Rs.25,000 in a year and regular payments
 Host of inbuilt offers and privileges of Master Card

Bank of Baroda Easy Credit Card


Key Highlights: BOB Easy Credit Card allows you to earn reward points and cashback every time you
swipe your credit card.
Joining Fee: Rs.500
Annual Fee: Rs.500
Features and Benefits:
 5 reward points for every Rs.100 spent on dining, utility bills, online spends
 1 reward point for every Rs.100 spent on other categories
 0.5% cashback on bill payment
 Fuel Surcharge Waiver
 Zero annual fees basis card usage

Bank of Baroda Co-Branded Credit Card (BOBCARD Bombay Bullion)


Key Highlights: BOB Co-Branded Credit Card is affiliated with VISA International & valid throughout the
world. Exclusively designed, these cards are packed with great features and benefits.
Joining Fee: Rs.500
Annual Fee: Rs.1,000
Features and Benefits:
 Loyalty points: 1 on purchase of Rs.100
 Annual fee is waived on spend of Rs.50,000 in a year and regular payments
 Host of inbuilt offers and privileges of Master Card

Bank of Baroda Elite Platinum Visa Credit Card


Key Highlights: The BOB Elite Platinum Visa Credit Card allows you to earn reward points every time you
shop.
Joining Fee: Rs.500
Annual Fee: Rs.1,000
Features and Benefits:
 Loyalty points: 1 on purchase of Rs.100
 Annual fee is waived on spend of Rs.50,000 in a year and regular payments
Bank of Baroda Signature Visa Credit Card
Key Highlights: BOB Signature Visa Credit Card is affiliated with VISA international and valid throughout
the world.
Joining Fee: Rs.500

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Annual Fee: Rs.1,000
Features and Benefits:
 Loyalty points: 2 on purchase of Rs.100
 Annual fee is waived on spend of Rs.2 lakh in a year and regular payments
 Host of inbuilt offers and privileges of Visa Card

Bank of Baroda SELECT Credit Card


Key Highlights: BOB SELECT Credit Card allows you to earn reward points every time you swipe your
credit card.
Joining Fee: Rs.750
Annual Fee: Rs.750
Features and Benefits:
 5 reward points for every Rs.100 spent on dining, utility bills, online spends
 1 reward point for every Rs.100 spent on other categories
 1,000 bonus rewards points every month
 Fuel Surcharge Waiver
 Zero annual fees basis card usage

Bank of Baroda Premier Credit Card


Key Highlights: BOB Premier Credit Card allows you to earn reward points every time you swipe your
credit card.
Joining Fee: Rs.1,000
Annual Fee: Rs.1,000
Features and Benefits:
 5X i.e. 10 reward points for every Rs.100 spent on Travel, Dining and International spends.
 2 reward points for every Rs.100 spent on other categories
 Free airport lounge, 24x7 concierge

Bank of Baroda Paytm Credit Card


Key Highlights: BOB Paytm Credit Card allows you to earn reward points every time you spend with your
credit card on Paytm.
Joining Fee: Rs.2,000
Annual Fee: Rs.2,000
Features and Benefits:
 12 rewards points on Paytm spend
 4 reward points on other spends
 Free airport lounge, 24x7 concierge, Golf program
 Zero fuel surcharge

Bank of Baroda ETERNA Credit Card


Key Highlights: BOB ETERNA Credit Card allows you to earn reward points every time you spend with
your credit card.
Joining Fee: Rs.2,499
Annual Fee: Rs.2,499
Features and Benefits:
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 Earn 15 reward points when you spend Rs.100 on dining expenses.
 Get 15 reward points for every Rs.100 that you spend on online shopping.
 You will get 10,000 bonus reward points when you spend Rs.50,000 within 60 days.
Eligibility Criteria for Bank of Baroda Credit Cards
 Age Criteria – Applicants of Bank of Baroda Credit Cards need to meet a certain age criteria in
order to apply for the credit cards. All the applicants must be between 18 years and 65 years of age
 Income Criteria – Applicants of Bank of Baroda Credit Cards must earn a certain sum of money
annually in order to meet the eligible criteria. This amount varies depending on the card the applicant
opts for.
 The applicants applying for a Bank of Baroda Corporate Premium Credit Card should either be a
Limited or a Partnership firm or a Government company. They must have a paid- up capital of at
least Rs.25 Lakhs and the Net Worth of their companies must be at least Rs.50 Lakhs. Apart from
this, they need to have a credit facility of at least Rs.1 crore and a BOB rating of 6 and above.
 If the applicants have existing banking relations with Bank of Baroda,they will be given preference.
Documents Required for BOB Credit Cards
Applicants have to provide the following documents while applying for a Bank of Baroda Credit Card–

 Passport
 Voter’s Identity Card
Identity Proof  Driving Licence
 UID
 PAN Card

 Form 16
Income Proof  Income Tax Return
 Salary slip

 Passport
 Passbook of PSU Bank
Residence Proof  Fixed Line Bill
 Electricity Bill
 UID
Apart from the above, the applicants have to provide a copy of their bank statement (recent 3 months), PAN
card copy and colour photographs. Applicants of Bank of Baroda Assure Platinum Credit Card have to
provide a front and backside copy of FDR discharged by themselves and Annexure 1, Annexure 2 and
Annexure 3.
Applicants of Bank of Baroda Corporate Credit Card have to provide different documents during the
application process. These documents are as follows:
 Company IT Return
 Undertaking Letter or Board Resolution
 Company PAN card
 Partnership Deed or Memorandum of Article and Associations
 Copy of the Audited Balance Sheet and the Profit & Loss Account for the last 3 years
 Photographs of the Applicant
2. Company Structure:-BOB Financial Solutions Limited (BFSL, formerly known as BOBCARDS Ltd.) is a
wholly owned subsidiary of Bank of Baroda and a Non-Deposit Accepting Non–Banking Finance Company
(NBFC). BFSL was established in the year 1994 to cater to the need of rapidly growing credit card industry in
a focused manner. BFSL is one among the pioneers in Indian card market and was the first nonbanking
company in India to issue credit cards. The Company’s core business is credit card issuance and consumer
lending. It also provides support to Bank of Baroda by carrying out its merchant acquiring operations and its
debit cards operation for its overseas territories/ subsidiaries and sponsored RRBs.

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Company Network:-

Organizational Structure of BFSL:

-
19
SWOT Analysis:-
1.Strength:
Strengths are the distinguishing characteristics of an organization that provide it with a competitive
advantage in increasing market share, attracting more customers, and maximizing profitability. Following
are the Bank of Baroda’s strengths:
 Diversified branch network: 
As India’s second-largest bank, Bank of Baroda has a diverse branch network mix that allows for low-cost
resource mobilization. Bank of Baroda has over 5,330 branches across the country and has a presence in
rural India with approximately 1,964 branches.
 Complete banking product portfolio: 
Bank of Baroda offers a comprehensive range of banking services and financial products, many of which are
used by its clients.
 Government accounts:
Bank of Baroda’s operations is supported by a number of government accounts. Railway pensioners, for
example, receive their pension from Bank of Baroda accounts. Similarly, some government profiles require
a government bank account in order to get a salary or pension, in which case the Bank of Baroda has an
advantage over private banks.
 Strong Capital Position: 
As of March 31, 2016, the Bank of Baroda has a good capital adequacy ratio (CAR) of 13.2 per cent. The
bank’s total assets were at INR 305,860 million. The bank’s solid capital position allows it to maintain its
solvency levels even in the face of challenging market conditions.
 Second Largest Bank: 
Bank of Baroda is India’s 2nd largest bank, with a global market capitalization of INR 9,578,080 million as
of March 31, 2016.

2.Weakness:
Weaknesses in a company or brand are elements that must be improved. So, let’s look at some of Bank of
Baroda’s major weaknesses:
 High Growth in Non-Performing Assets:
NPA growth is surpassing advances at the Bank of Baroda. BOB’s NPA was 9.9% of total advances in the
Financial Year of 2016. The bank’s non-performing assets (NPA) have increased from 0.9 per cent in 2009
to 5% in 2016. NPA growth is outpacing the advantages of growth.
 Low Overseas Presence:
Bank of Baroda is among Asia’s top 25 banks, although it is overly reliant on its Indian market, accounting
for 89.6% of total revenue. When compared to the top ten largest banks in Asia, BOB’s contribution of
operations to revenue and earnings is quite low. The lack of a global presence increases the risk of doing
business.
 Low brand equity being government banks:
Government banks have low brand equity since they advertise very little and only when funds are available.
As a result, as compared to private banks, the bank has very poor brand equity. In terms of government
banks, the brand equity of the State Bank of India and other state bank branches, as well as the Bank of
India, is higher.
 Forex Fraud : 
Several workers from the Bank of Baroda and HDFC have been caught up in a Forex scam throughout the
years. Even the Reserve Bank of India sanctioned Bank of Baroda for a forex scam involving close to 6000
crores of rupees. Other scams involving bank workers were also reported. These hinder the trustworthy
image in the minds of consumers.
3.Opportunities :
Opportunities are areas where a company’s efforts can be focused to improve results, sales, and, eventually,
profit. So, let’s take a look at the opportunities Bank of Baroda Financial Solution has, to deliver exceptional
results.
20
 Favourable interest rate policies:
As India’s business confidence has improved, the RBI has transitioned from an expansionary (low interest)
to a more calibrated monetary policy (high-interest rate). This will help Indian banks increase their net
interest margins.
 Increasing technological adoption: 
Online currency transactions are becoming more common, especially since demonetization and the creation
of platforms like the BHIM app. BOB can increase the return on IT investment by boosting the adoption of
E-transactions.
 4.Threats :
Threats are external factors that can impede a company’s growth. Some of Bank of Baroda’s threats are:
 Private banks:
Due to the services provided and the superior functionality of private banks over government banks, private
banks are a key competitor to government banks.
 Increasing Competition:
The Reserve Bank of India has authorized foreign banks to invest up to 74 per cent of their assets in Indian
banks. This permits competition to raise capital from overseas banks while also putting pressure on India’s
current large public and private sector banks.

3. Financial Analysis:-
The Company is a systematically Important Non Deposit taking Non-Banking Finnancial Company(NBFC)
as defined under section 45-IA of the Reserve Bank of India(RBI)Act,1934,Its core business is Credit Card
issuance.It also provides support to Bankof Baroda by carrying out its Merchant Acquiring Operations.
During FY 21-22,The Company continued it resilient performance amidst the challenges posed by the
pandemic.The Company focused on increasing its credit cards customer base by offering digital
solutions.The Company continued its business operations from 100+ locations.
The Company successfully implemented FirstVision Card Management System (CSM) and integrated
digital DIY(Do It Yourself) organisation journey with Bank of Baroda TABIT journey were the most
significant technology achievements during FY 21-22.
The Company also completed SI Hub integration in order to comply with RBIs guidelines for e-Mandates
During the year,the BCP site of the Company was made operational in Gurugram.
The commercial papers issued by the Company received by rating of CRISIL.A1+from India Ratings.

Financial Highlights For FY 21-22:-


Following was the Financial Performance of the Company for the year ended 31st March 2022;

Particulars 2021-22 2020-21

Total Revenue 499.65 366.27

Total Expenses(including 505.61 388.80


exceptional and prior period items)
Profit/(loss)before tax (5.96) (22.53)

Tax expenses (4.47) (12.93)

Profit/(loss)after tax (10.43) (9.6)

CRAR 17.86% 19.61%

EPES(Rs.) (0.41) (0.55)

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Financial Performance[FY 2021-22]:

 Total revenue for the FY 2021-2022 icreased by 36.42% to around Rs.500 cr as against Rs.366 cr
In the preceding FY 2020-21 primarily driven by increased in credit card business on account of
Increase in interest income and fee income partially offset by increase in direct expenses.
 Total expenses at Rs.505.61 cr increased by 30% as compared to Rs.388.80 cr in the preceding FY
2020-21. Mainly due to increase inoperating expenses and finance cost.

Foreign Exchange Receipts and outgo:


The foreign exchange receipts represented actual inflows during FY 2021-22 and the Foreign currency
expenditure represented out go during the year interms of actual out flows.
The Company receives funds in foreign currency foe satlement of internatioonal transactions. The
Company gets debited towards settlement agency charges in foreign currency.

Particulars F Y 2021-22 F Y 2020-21

Foreign exchange income : 23.61 29.72


(income from credit card
international operation, currency
conversion charges, business
development incentive income)
Expenditure in foreign currency 309.84 263.96
(scheme charges)

22
Production &Productivity:-
BOB Financial Solutions Limited (BFSL), a wholly-owned subsidiary of Bank of Baroda (Bank) that issues
and manages Bank of Baroda Credit Cards, has crossed the 1 Million Credit Cards mark.

As per Reserve Bank of India (RBI) data, Bank of Baroda Credit Cards have grown 9X over the last four
years - from 0.12 million cards in March 2018 to over 1.1 million cards in March 2022. Further, the monthly
spends on credit cards have grown 10X over the same period - from Rs. 80 crore in March 2018 to Rs. 830
crore in March 2022.

Among other factors, this growth was driven by initiatives such as:

The launch of a completely revamped product suite in 2018;


Industry-first alliances with professional institutions in 2020; and
The implementation of a best-in-class processing platform and 100% digital onboarding in 2021;
In CY2022, cobranding with IRCTC, HPCL, Defence Services, and partnerships with fintechs have been
some of the key initiatives in the ongoing transformation journey.

Speaking on the occasion, Mr. Shailendra Singh, MD & CEO, BFSL said, "In 2017, we started on a journey
of transforming BOB Financial into a leading credit card issuer in India. Crossing the 1 million credit cards
mark is an important milestone. However, while we celebrate this achievement, our ultimate aspiration is to
become one of the largest Credit Card issuers in the country, serving customers of every demographic and
socio-economic classification."

BFSL has been focusing on investing in people, processes and technology to enhance customer experience.
This includes 100 percent digital onboarding and state-of-the-art modes of service - both assisted and self-
service. The company has also built upon its association with Bank of Baroda and other key partners to
launch strategic co-branded cards to grow its credit card franchise.

Shares of Bank of Baroda was last trading in BSE at Rs. 101.90 as compared to the previous close of Rs.
100.15. The total number of shares traded during the day was 707590 in over 2351 trades.

The stock hit an intraday high of Rs. 102.45 and intraday low of 99.95. The net turnover during the day was
Rs. 71602879.00.
BOB Financial and CreditAI launch Unnati credit card for farmers
Initially, Unnati credit card will provide a base credit limit and over time, once the farmers’ credit profile
improves with more transactions and repayments, the limit could be increased based on the farmers’
personal credit score.
BOB Financial Solutions (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB), and CreditAI
Fintech (CAI), a Bengaluru based farmer digitisation and credit scoring company have launched Unnati – a
co-branded credit card exclusively for farmers. The card has been launched as a contactless offering on the
Visa network.

23
The Unnati Credit Card will empower farmers to avail agricultural inputs in time and at any time during the
cultivation cycle. Farmer producer organisations (FPOs) will further help farmers understand and avail the
benefits of this card. The Unnati credit card will work in a ‘closed-loop system’ with an ‘end-use
monitoring’ feature to both enable and trace agricultural credit to its last mile, CreditAI said.

CreditAI’s proprietary mobile app and inputs shop management system will ensure that the end use of credit
is primarily for the purchase of inputs at FPO owned input sales shops. The Unnati credit card is uniquely
designed to allow farmers to use credit on a rotation basis so that it avoids delays in renewals. Initially, a
base credit limit will be provided and over time, once the farmers’ credit profile improves with more
transactions and repayments, the limit could be increased based on the farmers’ personal credit score and
their actual cultivation needs.

CreditAI aims to positively impact the lives of hundreds of thousands of farmers, aided by the Unnati credit
card, which will first be launched in Karnataka and later scaled across Maharashtra, Andhra Pradesh,
Telangana, Tamil Nadu and other states in India.

Planters Card Scheme

Empowering farmers to enhance their farm productivity.

Bank of Baroda, for rural India, with rural India.

 Meet the short term credit requirements for cultivation of coffee, inter-crops & other plantation
crops with Bank of Baroda’s Planters Card Scheme.
 This helps meet post-harvest expenses, produce marketing loan, consumption requirements of
planter’s household, working capital for maintenance of farm assets and activities allied to
agriculture like dairy animals, poultry, inland fisheries, etc. And payment of insurance premium
towards crop/asset/health insurance.

Benefits:-
 Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs

 Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh

 Margin Nil for loans upto Rs 1.00 Lakhs

 Savings Bank rate of interest shall be paid to the farmers on the Credit Balance maintained by them
in the Planters card account.

24
4. Manpower Analysis & Strategic Analysis:-
Bank of Baroda has the tradition of continuous enrichment of its human assets so that they deliver value to
the business. In the ongoing Business Transformation Programme, our PEOPLE play a vital role and are one
of the key business enablers. Under its plan of organizational transformation through people processes and
systems, the Bank has launched various innovative employee centric initiatives and has also undertaken
revamp of key systems and practices.

HR Mission: Creating Competence and passion for Business Excellence.

HR Objectives:

To initiate & institutionalise globally competitive HR practices in the Bank in our pursuit to become a Bank
of International Standards and to become an employer of preferred choice;
To put in place relevant HRD strategies and use modern methodologies to undertake organizational renewal;
identify and nurture talent, bring about marked changes in the mindset of employees at all levels so as to
enhance HR Quality;
To create a performance-driven culture and an exciting workplace for the employees
To create a pool of entrepreneurial managers and business leaders for future;
To inculcate a strong and effective sales and service culture across levels in the organization in order to
generate strong stakeholder affiliation
To create a learning organization for employees’ intellectual growth and creativity; and to re-skill the
workforce to operate in digitally enabled modern core banking environment.
HR Vision: To nurture and develop every Barodian to become Smart, Competent, Continuous Learner,
Ethical, Happy & Healthy who shall lead a meaningful life simultaneously serving internal & external
customers with care & compassion.
HR Business Model

Organisation Philosophy, Core values & Goals

Leadership

HR Administration & Operations

Strategic HRM & OD

Attitude & Culture Communication Health & Wellness Competencies

Performance Driven Environment

Learning Platform

Employee Engagement & Motivation


Achievement of Goals

25
Innovation and Driving Change Through Integrated HR Strategy:

Bank of Baroda has implemented an integrated HR strategy to achieve business results through a focused
HR Transformation Program in two phases named as Project Sparsh & Project Sparsh Plus. Various HR
processes, systems and structures have been revisited or initiated afresh under a composite HR system so as
to bring in the desired linkages and inter-dependencies. Some of the major initiatives undertaken are as
under:
 Employee Assistance Program (EAP): Having understood the importance of workplace
Counselling, our Bank has taken the first step in addressing the employees personal or workplace
issues and up-keeping employees’ emotional well-being by introducing EAP program in association
with professional counselling body. Work place counselling assumes significance where stress
disorders have a substantial impact not only on the health of the employees but also they pose
performance challenge to our Bank in terms of lesser engagement, absenteeism and low productivity
from our employees. Thus, the employee assistance program – workplace counselling services
offered by the Bank shall help in the up keeping of emotional well-being, happiness, productivity
and engagement of employees in their personal and professional matters.
 Talent Management & Succession planning: Identification of Top Talent in the Bank, identify
their strengths and development areas, formulate a focused grooming plan for them and also do
succession planning for critical positions. Consists of both “Talent Pool" Identification and Talent
Development.
 Structured On-Boarding of New Hires: Structured programs put in place to ensure both functional
as well as cultural on-boarding, provide new hires a pleasant joining experience and also to make
them work-ready quickly.
 Scientific Manpower Planning: Scientific model developed for assessing manpower requirements
based on activity and transaction levels of various units and using them for making manpower
projections and forecasting with built-in linkages to recruitment, promotions, transfers and
deployment in the Bank.
 Recruitment strategy: Strategies developed for Employer Branding and an employer value
proposition created. Focused career portal created to communicate the Bank’s value proposition to
prospective new hires. We are hiring employees through lateral recruitment in areas like MSME
Credit, Wealth management, Government business, Fintech, Risk management, Finance, etc. Further,
the Bank is also recruiting through its own customized Baroda Manipal School of Banking, where
the candidates are imparted with necessary knowledge and skills required for our Bank. The contents
are tailor-made to suit our needs.
In view of the various initiatives being undertaken in different functions, Bank is hiring specialized
people, having core competencies & relevant exposure for driving special assignments / projects.
The expertise of such specialized staff not only meets the project requirements but also adds to
strengthening the Bank’s presence in niche areas. For very specific specialized positions, the Bank is
also taking help of the recruitment agencies for sourcing the profiles. Further, niche positions,
contractual recruitment is also being made.
 HR Automation: Large scale HR automation carried out through a variety of IT tools to enable
reaching out to a large, geographically dispersed work-force and ensure the desired effectiveness and
impact.
 HR Shared Services CPC: To bring in desired focus and effectiveness in delivery of various HR
programs, a revised HR structure has been formulated under which an HR shared services CPC has
been created through which various routine HR claims hitherto being handled by branches, Regional,
Zonal Offices have been centralized, which has the brought about the following benefits:
Freeing up of HR time for development and engagement activities.
Uniform interpretation and application of the applicable rules related to reimbursements etc. across
the Bank and thereby removing disparities.
Faster Turnaround Time for settlement of claims –maintained at 48 hours from the date of receipt of
the claim.

26
Employee Engagement Through Baroda Anubhuti Program:

Different employee engagement initiatives were implemented through a focused Program called ‘Baroda
Anubhuti’ which is centered around greater employee recognition, building pride in working for the Bank,
and enhancing Team Bonding. Various other engagement initiatives have helped in greater Employee-HR
connect, focused employee communication and building loyalty, pride and commitment like introduction of
structured system of HR visits to branches, conduct of Business town-halls, Exit Interviews, etc. to
strengthen engagement levels.

It has been designed with an objective to augment Employee Experience through various initiatives under it.
These initiatives are aimed at fostering the spirit of positive attitude and team bonding leading to improved
business outcomes. Under the banner of Baroda Anubhuti, the following five initiatives have been launched:
 Employee of the Month
 Spot Recognition – WOW Moment
 Zero Hour at Branches/Offices
 Compulsory Local Community Services
 Anubhuti Workshops
 Promoting Sports & Cultural Activities
 Promoting Health and Wellness through focused health drives.
Leadership Training:

The Bank firmly believes that it is Leadership at various levels, which ultimately makes the difference and
builds competitive advantage for any organization. Mere operational knowledge and skill-building programs
cannot deliver strategic success if it is not accompanied by leadership acumen and prowess of the
operational leaders.The Bank ensures imparting best of leadership training to its employees covering
diversity issues, succession planning and future Talent Need Analysis. To build on leadership competencies
at various levels, the Bank has given special emphasis on leadership development of its business leaders
with an eye on preparing leaders for the future as well as honing the leadership capabilities of the existing
leaders.
Four key pillars form the foundation of Baroda Gems:

Results Orientation: In order to strengthen the performance culture in the Bank, every single officer has
been assigned  focused Key Result Areas (KRAs). Every officer has been assigned 5-7 KRAs which reflect
the actual job roles being performed by the officer. Earlier, only 20% officers (majorly branch heads) had
KRAs linked to achievement of business targets. Under Baroda GEMS, this proportion is now 80% with
almost all officers in branches now having budgetary and measurable KRAs which has enabled a very
result/output oriented measurement, which is absolutely system driven with no manual calculation of scores,
etc. for the budgetary/financial parameters. 
Objectivity & Rationality: In order to ensure that performance appraisal of each officer reflect their actual
achievements, scores for measurable KRAs are system-driven. This significantly mitigates biases in the
appraisal process. The officers are given Grades instead of scores.ss
In addition, every officer is allocated a “Cohort” – group of people performing similar role. For e.g. all
officers managing deposits in small rural branches < 5 years old would belong to the same cohort.
Empowerment: The aim of Baroda GEMS is not just to measure performance, but to guide officers to
enhance their performance. The bank launched “GEMS Insight” which is an online tool providing a monthly
view of performance to all officers. In addition, an innovative feature of the tool is that the officers can
deep-dive on each KRA to understand the exact drivers which can help them improve their performance.
Recognition of High Performance: In addition to recognition of performance through the annual appraisal,
Baroda GEMS also provides a platform for “Spot Recognition” of performance by providing a platform to
award “badges” to officers for exceptional work (e.g. customer centricity, team contribution). Such
recognition is made visible to all officers to in turn, motivate them towards exceptional performance.
Some Key Result Areas are evaluated in terms of “Team Scores” where every officer in a branch receives
the same score.
It is very closely aligning with Business by enforcing and institutionalizing the process and discipline of
27
having monthly reviews on the monthly performance updates being provided by the Insight Tool at all levels
i.e. Branch Level, Region Level, Zone Level & Bank Level.

28
Chapter-4
Competitor Analysis:-
BOB Financial Solutions top competitors include: Nw Plus Cu, Denali Bancorp Inc, Farmers & Merchants
Bank, Citizens State Bank
Nw Plus Cu:
Nw Plus Cu's headquarters are located at 2821 Hewitt Ave, Everett, Washington, 98201, United States.
Nw Plus Cu's official website is www.nwpluscu.com.
Nw Plus Cu's revenue is $7.5 Million.
Nw Plus Cu has <25 employees.
Nw Plus Cu is in the industry of: Banking, Finance.
Nw Plus Cu top competitors include: Chief Financial Credit Union, Telcoe Federal Credit Union, Financial
Plus Credit Union, Telco Plus Credit Union. NorthWest Plus Credit Union operates as a financial
cooperative. The Union provides financial solutions such as saving and checking accounts, loans, insurance,
credit and debit cards, security, ATMs, online banking, and other related services. NorthWest Plus Credit
Union serves communities in the State of Washington.
Denali Bancorp Inc:
Denali Bancorp's headquarters are located at 119 N Cushman St Ste 100, Fairbanks, Alaska, 99701, United
States.
Denali Bancorp's stock symbol is DENI.
Denali Bancorp's official website is www.denalistatebank.com.
Denali Bancorp's revenue is $17.3 Million.
Denali Bancorp has 51 employees.
enali Bancorp top competitors include: Tri-County Financial Group, Mt McKinley Bank, The Milford Bank,
Tioga State Bank.
Denali Bancorporation Inc. is a bank holding company owning or controlling one or more banks. The
Company, through its banks, provides personal banking accounts, loans, mortgages, business accounts, and
other related financial services.
Farmers & Merchants Bank:
HERE TODAY,HERE TOMORROW.
Think safe. Think F&M.
F&M Bank has been California's Strongest, since 1907. That's not changing, even in today's economy. Some
banks merge or change names. At F&M Bank, we're opening new branches and investing in IT to improve
client security and convenience.
F&M Bank's dedication to strong, sound and conservative management and banking policies has enabled us
to weather economic recessions, world wars, natural disasters, and interest rate volatility for more than 116
years. When you bank with F&M, you get:

 Strong liquidity, to support all operations and depositor needs, as well as access to significant funding, if ever needed.

 Capital reserves that are more than three times the federally mandated requirement to be deemed “well-capitalized.”

 Capital reserves sufficient to protect depositors against any unrealized securities losses and remain at two-times the
regulatory “well-capitalized” standard.

 115 years of profitability (a perfect record).

 106 years of dividends without a decrease (a perfect record).

 A balanced and safe loan-to-deposit ratio at 67.7%.  

 A strong loan portfolio, with a loan-to-value ratio of less than 50% - one of the strongest in the country.

 A stable and diversified client and deposit base developed over 116 years, with no reliance on a particular client type or
sector.

 No exposure to crypto currencies or crypto-based collateral.

 No exposure to off-balance sheet hedging or related activities.

29
Citizens State Bank:
Since 1873, we’ve been serving our community with your personal and business banking needs. You read
that right. Nearly 150 years ago, Jesse James just conducted his first heist, Yellowstone was the newest
national park, and our founder John R. Millikan established Citizens State Bank. So many things have
changed since those early days, but our commitment to serving our fellow Hoosiers' banking needs remains
our north star.

We’re like a reliable neighbour, always there when you need us. When you choose CSB, you’re getting:

 A personal banking experience designed for your financial needs. We take the time to get to
know you as more than an account number. Our mission is to help you successfully manage your
money and reach your financial goals.
 Stability. We've been a pillar of the Hoosier banking community since 1873. There aren't many
banks with that much experience under their belt.
 Service with a smile - from someone you know. When you bank with us, you work with folks from
your community. Decisions are made locally, and we understand the challenges you face.
 A bank that fits your life, not the other way around. We're committed to providing the tools and
knowledge you need to handle your money in the way that works best for you. 
Resources:

 Financial Blog
 Community Calendar
 Digital Banking FAQ
 Lost/Stolen Debit Card
 Pay Your Loan
 Privacy & Security

30
Chapter-5

Customer Anlysis:-

Customer analysis is the process of understanding the needs and preferences of the target market for a
company’s products or services.It involves gathering data on customer’s demographics,behaviors, and
attitudes towards the company and its offerings.

Here are some potential steps for conducting a customer analysis of BFSL:-

Define the target market: Identify the specific groups of people who are most likely to use BFSL's products
and services. This could include factors such as age, income level, geographic location, or occupation.

 Gather customer data: Collect data on customers through surveys, interviews, focus groups, or
social media analytics. This could include information on their preferences, behaviors, and attitudes
towards BFSL and its offerings.
 Segment customers: Group customers into segments based on common characteristics or needs.
This can help identify different customer groups that require different marketing approaches or
product offerings.
 Analyze customer behavior: Examine how customers interact with BFSL's products and services,
such as how frequently they use them or which channels they prefer to use.
 Identify customer needs: Determine what customers are looking for in BFSL's products and
services. This could involve analyzing customer feedback, identifying pain points in the customer
journey, or understanding emerging customer trends.
 Develop customer personas: Create profiles of different customer types based on the data collected.
This can help the company better understand its customers and tailor its marketing and product
strategies to meet their specific needs.
 Demographic Analysis: Analyzing customer demographics can help you understand who your
target audience is, such as their age, gender, income, education, and geographic location.
 Psychographic Analysis: This type of analysis focuses on customer's personality, lifestyle, interests,
and values. It helps you understand what motivates your customers to buy, how they make decisions,
and what their needs are.
 Customer Behavior Analysis: Analyzing customer behavior data helps you understand how
customers interact with your product or service. This includes their purchase history, frequency of
purchases, average purchase amount, and engagement with your brand.
 Customer Satisfaction Analysis: This involves collecting feedback from customers about their
experience with your product or service. It can help you identify areas of improvement and measure
customer loyalty.
 Competitor Analysis: Analyzing your competitors can help you understand their strengths and
weaknesses and how your business compares to them. It can also help you identify gaps in the
market that you can target.

31
Chapter-6

Challenges Faced By The Company:-

Bob Financial Solution Limited's (BFSL) internal operations or performance, but based on the general
challenges faced by financial institutions in the industry, here are some potential challenges that BFSL could
be facing:

 Regulatory compliance: Financial institutions are heavily regulated by government bodies, and
compliance with these regulations can be complex and time-consuming. Failure to comply can result
in significant fines and damage to reputation.
 Cybersecurity: As a financial services company, BFSL likely handles a significant amount of
sensitive customer data. This makes it a target for cyberattacks, and the company needs to have
robust cybersecurity measures in place to protect against data breaches.
 Market competition: The financial services industry is highly competitive, and BFSL faces
competition from both traditional banks and fintech startups. To succeed, BFSL needs to
differentiate itself from competitors and continually innovate to meet changing customer needs.
 Economic uncertainty: Economic downturns or instability can impact the financial services
industry, as customers may be more cautious with their money, and loan defaults may increase.
 Customer retention: As with any business, BFSL needs to focus on customer retention to ensure
long-term success. This can be challenging in the financial services industry, as customers may be
more likely to switch to a competitor if they offer better rates or services.
 Talent retention: Attracting and retaining top talent can be a challenge for any company, and the
financial services industry is no exception. BFSL needs to have competitive compensation and
benefits packages and create a positive work environment to retain its employees.
 Overall, these challenges require BFSL to have strong leadership, effective risk management
strategies, and a customer-focused approach to innovation and service.

32
Chapter-7
a) Training Experience:-

The Internship provide in BOB Financial Solution Limited is 1 month and I joined on 18 October 2022.In
that period my primary duty was lead generation, convinced the customer through phone banking.

Lead generation is the process of attracting leads (your potential customer) into a contact managemetn or in
marketing with the hope of convince them about the offerings and convert them into a valuable customer.It
is all about building trust with the customer abot the product and gave them proper services.

It was a really memorable 1 month Inernship in BOB Financial Solution Limited.My work was related to
sales nd marketing and I learnt many things.The culture of the bank is very good,everybody is friendly with
everybody,valuable work experience,a path towards future career,new skills and connections,as well as
industry experience and confidence and most of the employees helped me to learn about credit card industry.

I am also learnt about that handling people is not an easy task because different people have different
behaviour and we have to handle every kind of people in the organization & I have gained lots of practical
knowledge and growing my network for generating leads & I had also got the job opportunity from the
manager.

That 1 month was really fun with learning, I have got exceptional experiences and literally it was fantastic.

b) Scope For Improvement:-

Some general areas that BOB Financial Solution Limited, may focus on to improve their services:

 Customer experience: BFSL could focus on improving the customer experience by better
understanding customer needs and preferences and making changes to products and services
accordingly. This could include improving the user experience of digital channels, streamlining
application processes, and providing personalized support to customers.

 Innovation: To stay ahead of competitors, BFSL could focus on innovation by investing in research
and development and exploring new product or service offerings. This could involve partnering with
fintech companies or startups to bring new solutions to market.

 Risk management: Given the complex and fast-paced nature of the financial services industry,
BFSL could focus on improving its risk management practices to better protect itself against
potential risks and improve customer trust. This could involve enhancing its cybersecurity measures,
improving regulatory compliance, and strengthening internal controls.

 Talent management: BFSL could focus on attracting and retaining top talent by providing
competitive compensation and benefits packages, offering opportunities for career growth and
development, and creating a positive work environment.

 Digital transformation: To stay competitive in the digital age, BFSL could focus on digital
transformation by enhancing its digital capabilities, such as developing more user-friendly mobile
apps or expanding its online services. This could involve investing in new technology and
partnerships with technology providers.

 By focusing on these areas for improvement, BFSL can continue to grow and succeed in the
competitive financial services industry.

33
Conclusion

In conclusion, my 1 month internship with BOB Financial Solution Limited, has been an exceptional
experience. During this period, I have gained invaluable knowledge & skills in the field of sales &
marketinng.

Through my interaction with the team of BOB Financial Solution Limited, I have learned the importance of
collaboration and teamwork in achieving common goals. I was given the opportunity to work on real-world
projects and contribute to the company’s target by providing intractive, and engaging learning experiences.

My time at BOB Financial Solution Limited has also provided me with insights into the challenges faced by
the creidt card industry and the potential for technology transfrom it. I am so grateful for the opportunity to
have been part of this company and I believe that the knowledge and skills I have gained will be beneficial
in my future career.

BOB Financial Solutions Limited (BFSL) is a non-banking financial company (NBFC) that offers a range of
financial products and services, including credit cards, personal loans, and merchant acquiring services.

The project report aimed to evaluate the financial performance of BFSL and analyze its competitive
landscape.The analysis revealed that BFSL has shown steady growth in revenue and profitability over the
past few years, despite facing competition from established players in the financial services industry.

BFSL's strategic partnerships with Bank of Baroda and Visa have helped the company expand its customer
base and improve its product offerings.However, the report also highlighted some challenges that BFSL may
face in the future, such as increasing competition, regulatory changes, and changing customer preferences.

Based on the findings of the analysis, the report recommends that BFSL should continue to focus on
expanding its product portfolio and enhancing its customer experience through digital channels.The report
also suggests that BFSL should explore opportunities for partnerships and collaborations with fintech
companies to stay competitive in the rapidly evolving financial services industry.

Overall, the project report concludes that BFSL is well-positioned to capitalize on the growing demand for
digital financial services in India, but needs to be agile and adaptive to the changing market conditions.My
internship with BOB Financial Solution Limited, has been a fantastic experience, and I would highly
recommend the company to anyone looking for an opportunity to gain practical skills in the field of market
mapping and sales.

Bibliography
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https://www.bobfinancial.com/aboutus.jsp
https://www.bobfinancial.com/careers.jsp
https://www.bobfinancial.com/documents/BFSLAnnualReport21-22.pdf
https://www.researchgate.net/figure/Organization-charts-of-BOB_fig2_333044130
https://agriculturepost.com/bfsi/bob-financial-creditai-launch-unnati-farmer-credit-card-in-south-india/
https://www.equitybulls.com/category.php?id=315067
https://openai.com/blog/chatgpt
https://economictimes.indiatimes.com/?back=1
https://www.ambitionbox.com/overview/bob-financial-solutions-overview
https://sbs.ac.in/internship-at-bank-of-baroda-financial-solutions-ltd/

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