The circular also indicates that 11 major public sector banks have proposed more than 15,700 vacancies for the 2026-27 recruitment cycle, covering clerk-level and customer support-related positions. While the proposed vacancies reflect an improvement in recruitment plans, employee representatives believe the expansion remains below the actual staffing requirements of banks. The new recruitment sequence is expected to streamline appointments and minimize delays in filling vacancies.

Another major reform is the introduction of a centralized Local Language Proficiency Test (LLPT). Instead of individual banks conducting the test, it will now be administered by an independent agency in coordination with IBPS, ensuring a uniform language assessment process. Over the next one to two years, the LLPT is expected to be shifted to the initial stage of recruitment. Candidates may either clear the LLPT before the selection process begins or submit their Class 10 marksheet as proof of having studied the required local language. Only candidates meeting the language proficiency requirement will be included in the final merit list.

Effective July 7, 2025, the Bank has rationalised interest rates on its Green Deposit and Savings Deposit products. The Green Deposit interest rate has been revised to 6.7% p.a. from 7% p.a. for a tenure of 999 days, applicable to deposits ranging from Rs. 1 lakh to less than Rs. 10 crore.

Similarly, the interest rate on Savings Deposits up to Rs. 1 lakh has been adjusted from 2.75% p.a. to 2.5% p.a. All other rates under the Savings Deposit category remain unchanged. These revisions are aligned with the recent repo rate cut and are aimed at maintaining a balanced rate structure between deposits and loans, while ensuring efficient transmission of monetary policy.

Bank of India has also reduced its home loan interest rates by 50 basis points, benefiting both new and existing borrowers. With this revision, the minimum interest rate on home loans now starts at 7.35%, depending on the borrower’s CIBIL score. The new rate structure is effective from June 16, 2025.

Further extending its customer-focused approach, the Bank has reduced the education loan interest rate to as low as 7.5% for students enrolling in reputed QHEIs (Quality High Education Institutes) across the country. Additionally, interest rates on select existing retail loans, including vehicle loans, have been cut by 50 basis points. These changes aim to make credit more affordable and accessible, while continuing to offer competitive and flexible loan options.

In a major step towards inclusive banking, Bank of India has waived charges on non-maintenance of minimum balance across all Savings Bank Account schemes with immediate effect. This initiative eliminates penalties for non-maintenance, thereby reducing the financial burden on customers, increasing account flexibility, and enhancing overall customer satisfaction.

The award was presented by Shri Kalraj Mishra, Former Hon’ble Union Minister of MSME & Former Governor of Rajasthan and Chief Patron India SME Forum in recognition of Bank of Baroda’s significant contribution towards promoting ease of doing business for entrepreneurs and enhancing access to credit for Micro, Small, and Medium Enterprises (MSMEs).

On behalf of the Bank, Shri Madhur Kumar, Chief General Manager (MSME Banking, Co-Lending and Supply Chain Finance) received the prestigious award at a ceremony held in New Delhi.

Banks were evaluated on a broad set of strategic and operational criteria, including but not limited to presence of a dedicated MSME Branch, y-o-y growth in number of loans (%), growth in average loan amount (%), average CGTMSME Loan size (Lakh), number of policies/financial products for Women/SC/ST, direct feedback and satisfaction ratings from MSMEs.

This award underscores Bank of Baroda’s commitment not only towards policy excellence but also the trust and appreciation of thousands of MSMEs on the ground.