Annual Report - Bank of Baroda

system and also to provide counseling services to those who
are under financial distress due to the debt burden. The Bank
has opened these centres under its BSVS trust. Free counseling
services are being provided to the concerned free of cost. The
Bank opened 14 new FLCCs during 2010-11, taking the total
number of FLCCs to 18 as on end-March 2011. The Bank has
firmed up a plan to open FLCCs in each of its lead districts in
due course.
Business Facilitators Model
This model has been implemented across India to accelerate
the process of Financial Inclusion of the excluded segment as
well as to augment the Bank’s agriculture portfolio. Business
Facilitators will mainly canvass loan applications for the Bank
for which the Bank will pay them compensation. Individuals
including retired bankers and Government employees, NGOs,
farmers’ clubs and SHGs are engaged as agents to improve
the Bank’s outreach in the rural and semi-urban areas.
Micro Loan Factory
Additionally, the Bank has opened Micro Loan Factories at
Raebareli and Sultanpur in U.P. The Micro Finance Loan Factory
has a mobile van with facilities and all related stationeries/
documents on the SHG financing. It is manned by officers who
are duly authorised to sanction and disburse loans up to Rs
25,000 to SHGs on the spot and at their doorsteps.
Performance of RRBs Sponsored by the Bank
The Bank has sponsored five RRBs as under.
• Baroda Uttar Pradesh Gramin Bank, Head Office:
Raebareli.
• Baroda Rajasthan Gramin Bank, Head Office:
Ajmer.
• Baroda Gujarat Gramin Bank, Head Office:
Bharuch.
• Nainital-Almora Kshetriya Gramin Bank, Head
Office: Haldwani.
• Jhabua-Dhar Kshetriya Gramin Bank, Head Office:
Jhabua.
The aggregate business of these five RRBs rose to Rs
18,803.05 crore as of end-March, 2011 from Rs 16,244.41
crore as at end-March, 2010, registering a year on year growth
of 15.75%.
The five RRBs together posted a net profit of Rs 116.53 crore
during 2010-11 as against Rs 118.93 crore earned during
2009-10. The “Net Worth” and the “Reserves and Surplus” of
all these RRBs put together improved from Rs 609.12 crore at
end-March, 2010 to Rs 729.96 crore at end-March, 2011 and
from Rs 354.43 crore at end-March, 2010 to Rs 452.68 crore
at end-March, 2011, respectively.
Bank’s efforts towards Financial Inclusion
The Bank has formulated a three-year Financial Inclusion
(FI) Plan as per the RBI guidelines issued in 2010 that was
approved by the Bank’s Board. However, keeping in view the
mandate given by the Government of India, the SLBCs allotted
29
Jeeef