It all started with a visionary Maharaja's uncanny foresight into the future of trade and enterprising in his country. On 20th July 1908, under the Companies Act of 1897, and with a paid-up capital of Rs 10 lakhs started the legend that has now translated into a strong, trustworthy financial body, THE BANK OF BARODA.
It has been a wisely orchestrated growth, involving corporate wisdom, social pride and the vision of helping others growand growing itself in turn.
The founder, Maharaja Sayajirao Gaekwad, with his insight into the futuresaw "a bank of this nature will prove a beneficial agency for lending, transmission, deposit of money and will be a powerful factor in the development of art, industries and commerce of the state and adjoining territories."
These words are etched into the mind, body and soul of what has now become a banking legend. Following the Maharaja's words, the emblem has been crafted to represent wealth, safety, industrial development and the inclination to promote the country's agrarian economy. This emblem shows a coin symbolizing wealth, embossed with an upraised palma safety cover for the depositor's money with a cogwheel that promotes industrial growth in tandem with the two corn ears that stand for the progress of the staple agricultural growth in the country.
The Ethics
Between 1913 and 1917, as many as 87 banks failed in India. Bank of Baroda survived the crisis, mainly due to its honest and prudent leadership. This financial integrity, business prudence, caution and an abiding care & concern for the hard earned savings of hard working people, became the central philosophy around which business decisions would be affected. This cardinal philosophy was over the century old existence, to become its biggest asset. It ensured that the Bank survived the great war years. It ensured survival during the great depression. Even while big names were
dragged into the stock market scam and the capital market scam, Bank of Baroda continued its triumphant march along the best ethical practices!