Bank of Baroda (BoB) has been recognised as the ‘Best Bank in India’ at the “Bank of the Year Awards 2025 – Asia-Pacific” by The Banker, a magazine published by the Financial Times.
According to The Banker, the award acknowledges BoB’s strong focus on improving customer experience, particularly through its expansion of phygital branches—a model that combines physical and digital banking services. The magazine noted that these branches allow customers to quickly obtain account statements, generate income tax payment certificates and update nominee details with ease.
Customers can also connect with bank staff through video calls for guidance on home loans, term deposits and car loans. For more complex banking needs, support continues to be available through universal service desks at branch locations. The bank further strengthened its physical presence by opening 184 new branches across India.
The report highlighted BoB’s efforts to support small businesses, including the introduction of the Smart OD (overdraft) facility, which helps them access working capital more easily. The bank also offers companies financing based on their business-to-business sales, verified through GST returns or current account data. Through digital verification, such financing can be approved in less than 24 hours, providing faster access to funds and promoting financial inclusion for businesses previously underserved.
For retail customers, the bank has launched liquid fixed deposits, which combine higher FD interest rates with the liquidity of a savings account. These deposits allow customers to withdraw funds without losing the contracted interest rate on the balance remaining in the account.
Bank of Baroda MD & CEO Debadatta Chand said the recognition reflects the bank’s commitment to serving customers across the country. “Bank of Baroda remains committed to serving every Indian by driving inclusive and sustainable growth, advancing nation-building efforts and contributing to India’s progress on the global stage,” he said.
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