New Dawn at Bank of Baroda: Project Navoday

Case Solution

Rejie George, M. S. Sriram
Indian Institute of Management-Bangalore ()

Bank of Baroda is one of the oldest banks in India with a large international footprint. The bank was nationalized in 1969 and since then has been under the control of the government. Ever since India embarked on the program of economic reforms of 1991, there have been efforts to change the culture and management of public sector banking enterprises in India. As a part of the larger reform process, the Government of India appointed an independent nonexecutive chairman for the bank and also laterally recruited the CEO from the private sector banking space. In the light of this move, this case examines the challenges of managing a large bank with legacy systems and with multiple expectations from customers, markets, and the state. Given the nature of the bank’s incorporation and ownership, it is subject to various governance and operating restrictions. The case documents the challenges and opportunities at the operational level; examines the transformation process and asks the question about these changes and whether they could persist beyond current leadership. The case also contrasts experiences with the transformation exercise carried out by the organization in the past to review the progress of some of the previous changes and provides an opportunity to examine the transformation exercise that followed in the midst of a severely constrained situation.

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