communication & reputation, crisis management policy
TRANSCRIPT
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COMMUNICATION & REPUTATION, CRISIS MANAGEMENT POLICY
1.0 Purpose
This document sets out the Communication & Reputation, Crisis Management Policy of Bank of Baroda. The aim of this Policy is to articulate the goals, tools, processes and guiding
principles of communication adopted by the Bank to engage its stakeholders
about Bank's Corporate Identity, various products and services, customer
initiatives, crisis and any issue of relevance to the Bank.
2.0 Background
Bank of Baroda started its Banking Operations '
in 1908. It is India’s second
largest public sector bank with a strong domestic presence supported by self-
service channels. The Bank’s distribution network includes 9,500+ branches,
13,400+ ATMs and 1,200+ self-service e-lobbies. The Bank has a significant
international presence with a network of 100 branches/offices of subsidiaries,
spanning 21 countries.
The Bank caters to the financial needs of individuals, professionals,
entrepreneurs, traders, MSMEs, Mid-Corporate and Large Corporate clients.
Considering Bank's multinational stature and varied stakeholders, Bank
pursues an integrated communication framework to engage its stakeholders,
public and market in order to help the Bank realize its overall goals as
described in its vision and mission statements.
3.0 Goals of Communication Policy
The goals of the Communication Policy of the Bank are:
3.1 Pursuing strong corporate reputation through high transparency and consistency in communication with stakeholders
3.2 Timely communication with stakeholders - with clarity, coherence and
credibility.
3.3 Disseminating information through the official website of the Bank on real
time basis.
4.0 Guiding Principles of Communication
From communication perspective, the Bank includes as its stakeholders the
Government, Investors, Customers, Employees, Suppliers/Service Providers,
Trade Associations, Civil Society Groups, Public and Society, at large.
Bank aims to inform, persuade and/or involve all stakeholders in the activities
and growth of the Bank through sustained, consistent and relevant messages
using judicious mix of both external and internal communication tools.
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The guiding principles of the Communication Policy of Bank of Baroda in the
context of its goals are transparency, comprehensiveness, relevance and
timeliness with a view to make the stakeholders aware about the Bank's
various activities, products & services, financial market, regulatory &
compliance matters relating to the Bank.
The content of communication in the Bank comprises product information,
customer service initiatives of the Bank, issues relating to customer service,
market related information and matters relating to regulatory compliance.
Communication is primarily focused on issues of importance to Bank of
Baroda, in particular and banking, in general.
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Bank endeavours to communicate with its diverse stakeholders preferably in
their language, and certainly in Hindi and English.
Bank endeavours to place all relevant information • in the public domain so as to
discourage individual seeking of information.
5.0 Operational Practices
5.1 Spokesperson
5.1.1 The MD & CEO and all Executive Directors of the Bank are the
spokespersons for the Bank.
5.1.2 Additionally, depending upon the issues/events the MD & CEO
may authorize any of the Executive Directors I General
Managers - CC/ General Managers/ Functional Heads/ Heads
of Overseas Territories to speak on behalf of the Bank.
5.1.3 Asst. General Manager (PR & Corp. Comm.) may coordinate
with other vertical heads to interface with media / give press
releases for product launch, new initiatives, etc. based on
published facts, with restrictions on any type of futuristic issues
/ views.
5.1.4 The Corporate General Managers / Head of verticals may speak
on behalf of the Bank on published data about the respective
verticals, in response to queries from media (print / electronic)
on ongoing projects/ campaigns by various media agencies. No
comment I observations to be given on futuristic issues / views.
5.1.5 Bank's Zonal / Regional Heads would be speaking only within
the scope of published data of their respective Zone / Region.
No comments to be made on futuristic issues / views.
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5.2 Investor Relations
The Bank's Investor Relations (IR) function is guided by a dedicated team
primarily comprising the MD & GEO, Executive Director (in charge of IR)
and the Chief Economist.
The team shall interact with Bank Analysts', large domestic institutional
investors, rating agencies and other investors with an objective to develop
a better understanding of Bank and its strategies and thereby help getting
a fair market valuation for Bank's securities and a climate of favourable
opinion.
The team shall provide guidance on emerging macroeconomic
parameters, banking & regulatory outlook through quarterly presentations.
The team shall also quickly provide information on any major change in
important policy variables like deposit/lending rates or change in the
composition of the Bank's top management or Board of Directors to
investors/bank analysts.
The Bank shall conduct Analysts' Meet every quarter post the
announcement of its quarterly financial results. Besides making a
comprehensive presentation, the Bank's Top Management shall directly
interact with Bank Analysts' and address their queries and concerns
upfront. During such interaction, the Bank's Top Management may also
provide guidance on the Bank's likely future performance in a conservative
fashion by appropriately factoring-in risks emanating from domestic &
global environment.
The Bank shall also endeavor to provide live webcast of such Analysts'
Meetings covering presentations and interactions for the benefit of FlIs.
Such webcasts shall be retained on Bank's website for at least a month.
5.3 Media/Sponsorship Activities
Bank shall use the following modes of communication to clarify and inform
the stakeholders, in general and media, in particular.
- Press release
- Web-site
- Speeches - Notifications
- One-on-One clarifications
- Briefings/interviews by top management
- Interviews with MD & CEO/Executive Directors
Bank shall conduct a Media & Analysts' Meet on the occasion of Bank's
quarterly/half-yearly/annual results. Apart from this, Bank may also
organize press conference, as per the direction of the MD & CEO /
Executive Directors, to disseminate important information relating to the
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functioning of the Bank. '
Bank shall also project its image through sponsorship of events, charities,
charitable works, sponsorship of eminent personalities associated with
public causes, etc. to enhance the Bank's image in the wider society.
All Media/Sponsorship Activities/Press Conferences shall be coordinated
by the Marketing Function.
5.4 Brand-Guidelines
In order to ensure consistency in visual communication of Bank of Baroda
brand, the Bank has set guidelines which broadly cover the following
aspects of Bank's visual identity:
- Definition, type and application of Bank of Baroda logo
- Corporate stationery, Bank stationery and forms
- Advertising in print media and Bill boards
- Print applications such as Posters, brochures and leaflets
- Electronic media (internet site, intranet site c1nd presentation formats)
- External fascia signs such as branch/ATM signage
- Interior signage of Branch/ATM - identification signs, direction signs,
statutory signs, etc.
- Other applications such as danglers, banners, T-shirts, Caps, etc.
The Brand Guidelines are available on Bank's intranet site
https://intranet.bankofbaroda.co.in for information of staff members and
implementation at all levels.
Bank has an internal policy for the usage of Bank's brand and logo by its
domestic subsidiaries, joint ventures and associates.
6.0 Major Communication Tools
6.1 Advertising
Bank shall use advertising to promote its products, services and corporate
brand values through judicious mix of media vehicles including print, electronic,
and web. The Marketing Function shall coordinate the use of this tool for the
benefit of the Bank.
6.2 Press Release
All press releases such as covering policy announcements such as change in
rate of interest; introduction/phasing out of products/services; overseas
expansion; launch of national/international campaigns; CSR/Financial
Inclusion initiatives, customer service initiatives at national/international level,
regulatory/compliance related matters and other information of
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national / international importance, are centrally issued by the Marketing
Department at BCC.
Press releases covering announcements of local issues, campaigns and/ or
events within the jurisdiction of respective Zones to be issued under authority
of the Zonal Head.
6.3 Internet
The official web-site of the Bank is www.bankofbaroda.in. The bank
endeavours to make the web-site up-to-date and reader-friendly. The website
is the central platform for all external information that Bank produces.
6.4 Intranet
All employees can access Bank's internal documents, relevant guidelines,
circulars, and notifications on Bank's intranet
https://intranet.bankofbaroda.co.in
The bank endeavours to make the intranet up-to-date and reader-friendly. The
intranet is the central platform for all internal information that bank produces.
6.5 Annual Report
The Annual Report provides for an official account of the Bank's activities for
a Financial Year. It is comprehensive in nature and serves as a future point of
reference for stakeholders.
6.6 Social Media
A separate social media policy has been framed and the same has been
approved by the Board.
6.7 Internal News-Letter/Magazine
Bank has in-house magazines / news-letters for internal circulation and
communication.
7.0 Official Language Policy & implementation
There is a separate Official Language Policy of the Bank which directs and
guides the Bank Officials to implement the mandate given in Official
Languages Act 1963. There is separate Department - 'Official Language
Department in the Bank whose primary responsibility is to promote the use of
Hindi in the Bank.
Bank is taking all efforts and necessary steps to promote the use of Hindi
Language for its customers through training of staff, publication of banking
related books and staff-magazines, workshops at branches, standardization
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of staff related formats, etc.
The Official Language Policy of the Bank is available on Bank's intranet site
https://intranet.bankofbaroda.co.in for information of staff members and
implementation at all levels.
8.0 Reputation & Crisis Management
A crisis is a situation that threatens the integrity or reputation of the Bank. The
objectives of having a formal Reputation Management & Crisis
Communications Policy are multifold:
a guide for the senior management to manage crisis as per requirement
to equip the communications team with protocols and tools to pre-empt/manage a crisis situation
to maintain a positive image of the organization as a good corporate or community citizen
to safeguard organizational facilities and assets
to demonstrate concern for the safety of lives
to provide accurate, timely information to all targeted internal and external audiences
8.1 Internal crises
Internal fund mismanagement or fraud
Business disruption (relocation of branch, new FD rates with downside revision, closure of schemes)
IT System failures
Failure in service delivery (irate customers)
Major legal proceedings
Financial non-performance
Liquidity crisis/run on deposits
Senior level exits/changes in organizational structure (frequent exits)
Flouting RBI regulations
Insider trading
Workplace conflict
Employee retrenchments
Harassment
8.2 External crises
External fraud
Natural disasters
Accidents (fire, building collapse, etc.)
Regulatory penalties and action
Customer affected due to third-party offence
Credit rating downgrade
Fluctuations in share price movement
Adverse events at group companies/ overseas territories
Misappropriation of funds
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Customer accusations
Major complaint against senior management
Theft/ Data Hacking
Ownership issues (shareholding, promoters classification, dilution)
Negative media coverage
Trolling in social media
Hostile customer reactions
A swift and effective response can defuse a challenging situation from blowing up with
far-reaching, negative implications. By adhering to a crisis communication plan,
organizations can effectively handle critical situations.
A crisis communication plan should, in fact, be a key component of an organization’s
overall disaster management plan.
Additionally, each employee should be made aware of who is the point of contact in
case of a crisis situation, depending on the nature of the crisis and the business or
department it pertains to. Ideally, the point of contact should be through the Marketing,
PR & Corporate Communication team.
8.3 Role & Responsibility
Each crisis will be of a different nature and hence, the role, responsibility and response
to every crisis will be addressed on a case to case basis. In this context, the role and
responsibility will also be defined depending on the nature of crisis and involvement of
concerned officials.
Depending on the severity of the crisis, the respective team members from would get
into the ‘action mode’.
8.4 Responding to a crisis
Gather information, verify exact nature of crisis and decide on response.
Assemble and address a situation as soon as it arises.
Complete a preliminary crisis report on the initial assessment of the scope and media interest around the incident.
Determine whether immediate response to media is appropriate.
Prepare a press statement with key messages o Identify primary spokesperson; keep the person updated. o Ensure that every individual, who may be contacted by media, knows
where to channel media inquiries. No other employee or spokesperson will interact or answer any media queries
Importantly, no one should speak to media without first coordinating with the primary spokesperson/core team
Receive media inquiries and initiate contact with media when appropriate. Tell employees first. As a general rule, try to announce news about the crisis to employees and other key stakeholders first, or at least simultaneously with the
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news media. Throughout the crisis, keep key stakeholders informed about what you are doing and why
Seek quick resolution as a lengthy crisis tends to damage reputation and morale. Being sensitive to the stakeholders’ concerns and their thoughts or actions being impacted with negative publicity, the Bank’s Crisis Team should act decisively to try to bring a crisis to closure as soon as possible.
8.5 Analysis and Strategies
a) Analyzing the crisis to form a strategy
The Crisis Team should conduct a severity test that provides strategic direction,
contingency planning, and realistic expectations of outcomes.
Consider the following issues: Inherent strength of the organization, identification of
support group and steps needed to rally them, and possible measures that will defuse
the crisis and the associated risks.
To ascertain the worst, companies should also consider: Vulnerabilities, critics and their possible reaction, the degree to which we may accommodate public opposition and possible issues that may re-ignite the crisis and avoidable measures. Separately, companies ought to be clear about maintaining confidentiality under all circumstances and conversely, lay down the possible damage-control steps if such information becomes public.
b) Developing messages
It is important for the organization to know exactly what it wants to say. This involves
developing specific key messages:
Develop appropriate key message/messages, but restrict the same to three messages only
Expand on each message with appropriate supporting facts and statistics
Messages should not only communicate your response to the crisis, but also reinforce your essential mission and philosophy
Use messages as the basis for all media statements, letters to key stakeholders and other communications
Always stick to your three key messages, while may be updated as necessary. Avoid saying, “no comment.” It’s better to steer responses toward your key message points
c) Press Statement
Often, journalists will call before all the facts have been gathered. In such an instance,
a simple statement acknowledging the situation is useful. The short statement avoids
“no comment” and acknowledges the need to cooperate with the media. See the
section on Spokespeople Dos and Don’ts for more details.
8.6 Spokespeople & Contact List
At all times and in all types of crisis, the crisis team will always comprise of officials
from the PR & Corporate Communication Team. Apart from this, the vertical or
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business head of a particular department which the crisis pertains to would be involved
till the closure of the crisis.
The management or the board will be roped in in the event that the crisis is severe and
tends to harm the reputation of the organization. For example: The South Africa
situation.
Contact list:
Designation Location Contact no: Email ID
MD & Chief Executive Officer Mumbai 022-66985911 [email protected]
Executive Director Mumbai 022-66985800/01 [email protected]
Executive Director Mumbai 022-66985899 [email protected]
Executive Director Mumbai 022-66985802/04 [email protected]
GM – CC / Business Head /
Zonal Head (depending on
business the crisis is related
to)
Depending on
which city GM
– CC/
Business Head
/ Zonal Head
is based from
- -
GM – CC, Marketing, PR &
Wealth Management
Mumbai 022-67592749 [email protected]
Head – Marketing &
Branding
Mumbai 022-67592543 [email protected]
Assistant General Manager –
PR & Corporate
Communications
Mumbai 022-67592585 [email protected]
Chief Manager - Marketing Mumbai 022-67592533 [email protected]
Senior Manager - Marketing Mumbai 022-67592568 [email protected]
8.7 Crisis Dos and Don’ts:
Dos:
Take responsibility. If the organization has done something blatantly wrong, admit it, then the management team can subsequently take steps to ensure that the incident/mishap does not occur again
Focus on messages that you really want to get across and repeat them during all interactions
Be consistent in all answers to all stakeholders – government, regulators, customers, employees, media
o A format can be designed on the mode of communication – SMS or Email - depending on the stakeholder that needs to be reached out to
In case the spokesperson is not an expert on the crisis issue, then a specialist should help craft key messages (and also conduct interviews/interactions, wherever necessary)
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Speak in simple and clear terms. Avoid jargon; this is a special consideration when using a technical expert
Consider human safety first. When human safety or other serious concerns are involved, deal with those considerations first. One should, acknowledge concern without admitting culpability. Focus on main messages, but be responsive to all inquiries
Where appropriate, express sorrow or regret on behalf of the entire organization and not individually.
Don’ts:
Don’t speculate, don’t lie, and don’t hide: Only speak the truth. “We don’t know, but will get back to you when we know more,” is a perfectly acceptable response during a crisis. This is applicable to all employees, in case there is an internal crisis, and also to media in case of an external one
Do not speculate on what happened, or why the incident/emergency occurred
Avoid casting blame on individuals or other entities pending a thorough investigation
If casualties are involved, do not release names of fatalities or injured unless you know for certain that next of kin have been notified. (In this situation, it is most appropriate if police/fire officials release casualty information)
Do not provide information about personnel other than confirmation of the affiliation with Bank of Baroda. This is especially important in cases of purported criminal activity. Employees may be asked if the organization performs background checks on employees. Answer “yes” or “no”, but do not release any information about the results of a background check if one was performed
Do not use negative language and do not let reporters put words into your mouth
Do not trivialize the situation, especially the effect on patients or other individuals
Avoid the “no comment” response because it often leads the reporter to speculate Do not answer questions you don’t understand. Seek clarification. Occasionally, this
can be used to buy time and think.
8.8 Media-handling guidelines:
Provide precise answers to the media. TV/radio reporters want ‘sound bites’ of no more than 10 to 15 seconds. Try to bridge key messages throughout the interview
Face the reporter. Ignore cameras and microphones. Don’t look away or up at the sky
During videotaped interviews, it’s all right to stop your statement and start over
Above all, remain calm. Do not be coerced into answering questions. You may tell a journalist that you need to clarify an important matter before you can answer questions. If you do so, be sure to follow up
Do not resort to ‘off the record’. Make only ‘on the record’ statements 8.9 Crisis Scenarios & Solutions
Definition of severity of crisis: Depending upon the nature of the crisis or the challenge,
the severity is defined Category I to Category III, with Category III being most severe
as that tends to affect the Bank’s reputation with all stakeholders.
Category I – Any untoward incident that has personally impacted/affected an employee or a customer
Category II – Any incident that has led to financial losses for a customer
Category III – Any and all incidents, not covered under Category I and II, which impact the Bank’s
operations
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CATEGORY I CATEGORY II CATEGORY III
Workplace violence Dissatisfied customer Series of senior leadership exits
Any incident/attack involving BANK OF BARODA’s employee/s outside the office premises while on duty
Technology glitches leading to loss/negative impact on clients’ business
Issuing pink slips to large number of employees
Death/severe injury to employee due to accident while at work
Security breach Insider trading/ wrongdoing
Sexual harassment of an employee
ATM/Cash van/Locker theft Organizational misdeed
Terror attack threat Natural calamities/issues beyond human control
Legal case on Bank for alleged illegal activities
Alleged discrimination
Online fraud: phishing/vishing Change in regulations leading to business challenges
Fire at ATM/ branch Unsecured net banking
Whistleblower
Skimming of cards
Terror money
Loan related frauds
Account opening through fake documents
Consumer forum
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Category I
Crisis Suggested steps Draft Statement
Workplace violence Respond with statement that clarifies the situation, identifies the cause, and specifies steps taken by Bank for the victim and against the attacker
We follow a strict code of conduct and the current issue is being investigated. Appropriate actions are being taken based on the investigation. Any incident/attack involving Bank
of Baroda’s employee/s outside the office premises while on duty
Death/severe injury to accident of employee while at work
The Bank needs to have complete details of the cause of accident and status of employee’s health in case of injury. Steps taken by the Bank needs to be clearly stated.
[Location]: At approximately [time] there was what is currently being investigated as a (brief general description – fire, rock burst, etc.) at [Name, Location] We are working to determine (damage, injuries, etc.). At this time we have confirmed that [General information that is FOR CERTAIN, i.e., one person was injured and is currently being treated, etc. Don’t include this section if no definite info is available.] The safety and well-being of our employees, contractors are our first priority [expression of compassion/concern if appropriate].
As more information is available we will be providing updates through [website address] and regular media briefings
Sexual harassment alleged by an employee
Initiate immediate investigation and do not avoid media queries. Give a statement highlighting Bank’s commitment towards safety of employees and how the issue is being looked into seriously and on priority
We take every sexual harassment complaint very seriously and each case is thoroughly and expeditiously investigated. Swift and appropriate actions are taken in all such cases. Keeping in view the privacy aspects we do not share particulars of individual cases
Terror attack threat Communicate steps taken by the Bank to avoid possible attack
Following a non-specific threat received today, Bank of Baroda duly informed all the requisite authorities of the same, including the XX (location)
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Police and the Indian Security agencies. Security agencies have recommended the implementation of some enhanced safety measures as a precaution, which the Bank will implement along with the appropriate authorities, in the interest of safety of our employees
Given the fact that this is a security issue, Bank of Baroda at this juncture does not deem fit to divulge any further information on the matter
Alleged discrimination amongst employees related to gender, color of skin, religion and sexual orientation thus harming the reputation of the Bank
Issue a statement refuting the allegation in case it is false. Issue a statement on investigation being conducted if there is some merit in the complaint
At Bank of Baroda, we have a strict employee code of conduct, which is based on the values and ethos of the Bank. Any violation of this policy could lead to strict disciplinary action. The issue that is being referred to is an internal matter that is currently under investigation and it is not our policy to comment upon such cases in the media, pending a full internal investigation.
Fire at ATM/Branch The Bank needs to have complete details of the situation in case of any loss of property or life. Steps taken by the Bank needs to be clearly stated.
At approximately [time] there was what is currently being investigated as a (Brief general description – fire, rock burst, etc.) at [Name, Location]. We are working to determine (damage, injuries, etc.). At this time we have confirmed that [General information that is FOR CERTAIN, i.e., no person was injured. The safety and well-being of our customers/staff is our first priority [expression of compassion/concern if appropriate].
As more information is available we will be providing updates through [web site address] and regular media briefings
Activities by any employee damaging the reputation of the organization
Bank of Baroda should not react if the situation is beyond the Bank’s control
The activities in question have been conducted by the employee/s in his/her/their personal capacity and have no
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(Legal case against an employee for personal issues)
relation/impact on the functioning of the organization. We will cooperate with the legal authorities if they approach us in the course of investigation.
Category II
Crisis Suggested steps Draft Statement
Non completion/service dissatisfaction issues raised by a client
The possibility of a disgruntled client speaking to the media can be known beforehand. Hence, any such possible cases should be flagged off well in advance and an statement should be kept ready clarifying Bank of Baroda stance should be kept ready
The issue/complaint in question is being investigated to find out the reason behind the service glitches. We will ensure immediate rectification once the investigation is complete
Technology glitches leading to loss/negative impact on clients’ business
Security breach of sensitive customer data within the organization
Provide clarity to the media about the breach, and the action being taken by the Bank to control damage
We confirm that information regarding <details> has been hacked from our systems. We have taken the following steps for immediate damage control. We will be taking the following steps to ensure such breaches cannot take place in future.
ATM theft/Cash van theft The Bank needs to have complete details of the theft. Steps taken by the Bank needs to be clearly stated. An FIR to be registered with the local police station by Bank of Baroda
Bank of Baroda has duly filed an FIR with XX (location) Police. Our team is investigating the matter and will co-operate with the authorities at every step.
ATM skimming Bank of Baroda has duly filed an FIR with XX (location) Police. Our team is investigating the matter and will co-operate with the authorities at every step. We have, on our own, instituted appropriate checks and balances to control such activities. With regard to this specific complaint, we are currently investigating the issue and based on findings, we will compensate our customer
Natural calamities/weather issues and issues beyond human control affecting service delivery
Take an immediate update on the situation and damage being caused in the affected area and keep a note ready on all measures that are being
The current situation at <location name> is <details>. Bank of Baroda is taking the following measures to ensure continuation of service delivery
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taken by the Bank to minimize impact/ rectify damage
<mention measures as per situation>
Online fraud: Phishing & Vishing, Unsecured net banking
The Bank needs to have complete details of the fraud. Steps taken by the Bank needs to be clearly stated.
Bank of Baroda has duly filed an FIR with XX (location) Police. Our team is investigating the matter and will co-operate with the authorities at every step. We have, on our own, instituted appropriate checks and balances to control such activities. With regard to this specific complaint, we are currently investigating the issue and based on findings, we will compensate our customer.
Category III
Crisis Suggested steps Draft Statement
Series of senior leadership exits creating vacuum at the top management level
The Bank should acknowledge these exits and how it plans to fill the vacuum created
This is to inform you that Mr. XYZ has resigned to pursue other interests. Mr. ABC will be overseeing the business in the interim.
Giving pink slips to large number of employees/downsizing
Clarify the procedure followed for involuntary exits based on transparent evaluation systems
Exit of non performing employees based on a transparent evaluation process is a regular procedure followed by every Bank. The exits in question are result of our yearly evaluation process.
Insider trading/ wrongdoing by an employee affecting business
Communicate the investigation being done by the Bank and action taken for damage control and against the employee in question
At Bank of Baroda we have a strict employee code of conduct, which is based on the values and ethos of the Bank. Any violation of this policy could lead to strict disciplinary action. The issue that is being referred to is an internal matter that is currently under investigation and it is not our policy to comment upon such cases, pending a full internal investigation
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Organizational misdeed: management actions that put employees at risk and/or violate the law
The matter is at sub jurisdiction We are investigating the matter and will share more information as soon as findings are available
Legal case on Bank for alleged illegal activities
Statement to be issued based on the nature of allegation and status of investigation
The Bank of has very strict compliance guidelines and processes. The Bank or any of its senior management have not engaged in any wrongdoings and the Bank will take necessary legal action, if need be
Arrest/legal case on a senior executive for misconduct that impacts the stakeholders
We are conducting internal investigation and would cooperate with authorities for necessary information
Change in regulations leading to business challenges
Communicate Bank’s views on the change and how it plans to deal with it in order to minimize business impact
The amendment /rule /regulation announced by the government can result into <impact on business>. We are taking the following steps to ensure <details of steps taken by Bank>
Whistleblower Get an immediate update on the situation and communicate the Bank’s views on the same.
The issue is being investigated and appropriate action will be taken based on the findings
Terror money The Bank needs to have complete knowledge of the situation. Steps taken by the Bank needs to be clearly stated.
Our forensic accounts department is conducting a thorough investigation. We have also roped in the Economic Offenses Wing to assist us in appraise the situation
Loan related frauds The Bank needs to have complete details of the fraud. Steps taken by the Bank needs to be clearly stated.
Bank of Baroda has duly filed an FIR with XX (location) Police. Our team is investigating the matter and will co-operate with the authorities at every step. We have, on our own, instituted appropriate checks and balances to control such activities
Account opening through fake documents
The Bank needs to have complete details of the fraud. Steps taken by the Bank needs to be clearly stated.
Bank of Baroda has duly filed an FIR with XX (location) Police. Our team is investigating the matter and will co-operate with the authorities at every step. We have, on our own, instituted appropriate checks and balances to control such activities
Consumer forum The Bank needs to have complete details of the situation.
The Bank is investigating the matter and will co-operate with the forum at every step. With
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Steps taken by the Bank to address the issue needs to be clearly stated.
regard to this specific complaint, we are currently investigating the issue and based on findings, we will compensate our customer
9.0 Dissemination of Communication Policy
The Communication & Reputation, Crisis Management Policy will be reviewed
every three years and placed before the competent authority for approval.
Once approved, the Communication & Reputation, Crisis Management Policy
shall be available on Bank's official website www.bankofbaroda.in and Bank’s
intranet portal.
--Sd/--
ओ के कौल / (O K Kaul)
महाप्रबंधक – मुख्य समन्वयक / GM – CC
(माकेट ंग, पीआर एवं डबलू्यएमएस) /
(Marketing, PR & Wealth Management)