Annual Report - Bank of Baroda

Pensioners under Single Window Scheme (SWS)
under which reimbursement of pension paid would be
available at CAS, Nagpur.
3) Processing of pension of more than 55,000
Railway Pensioners would also be done at CPPC
under the Single Window System (SWS) with effect
from April, 2011.
4) During the review period, the Bank got authorisation for
e-payment of State Taxes in the States of Tamil Nadu,
Kerala, Uttarakhand, Karnataka, Andhra Pradesh,
West Bengal and Delhi.
5) Conclusion of Agreement with Stock Holding
Corporation of India (SCHIL) for sale of e-stamps. This
business has commenced in the State of Gujarat.
6) Special Savings Bank Product for Pensioners “Baroda
Pensioner’s Savings Bank Account” was launched
where pensioners get overdraft equivalent to twomonth
pension.
7) Collection of RTO Fees in the State of Gujarat and
Tamil Nadu.
8) Moreover, the Bank is now the Direct Agency Bank for
Railway Receipt and Payment Business instead of Sub
Agent of State Bank of India at nine locations.
9) For the benefit of the Pan Indian Customers, a proposal
has been sent to Ministry of Finance for authorising
700 additional branches for PPF/SCSS Business.
10) The Bank implemented a revised accounting procedure
and system for Postal as well as Railway Receipt &
Payment Business for automated reimbursement
process and to eliminate losses due to a negative
float.
11) Commencement of the Payment of Income Tax through
ATMs.
12) The customers were enabled to view their 26AS
Statement of Income Tax deposited through the Bank’s
Internet Banking facility - Baroda Connect.
13) The Bank was authorized for collection of Custom Duty
through e-mode at all locations in the country.
Vigilance
Vigilance activity in the Bank is an integral part of the managerial
function and primarily aims at (1) ensuring integrity, (2) protecting
the innocent (i.e., supporting quality decisions), (3) eliminating
forces that thwart integrity, and (4) preventing the losses -- both
the financial as well as reputational for the Bank.
A rational distinction is drawn between a business loss, which
has arisen as a consequence of a bona-fide commercial
decision, and an extraordinary loss, which has occurred due
to mala-fide, motivated or reckless performance of duties. On
the one hand, to keep the morale of the employees high and on
the other hand, to weed out the attempts of the unscrupulous
persons, efforts are made to bring the departmental action to
its logical conclusion expeditiously.
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