The Bank of Baroda NZ seeks to serve its customers with warmth loaded with Indian heritage and geniality, says Anupam Srivastav, the new Managing Director of the bank, who joined only recently a month ago.
Mr Srivastava has taken the charge of Prahlad Gupta, who have returned back to Bank of Baroda, India.
Bank of Baroda (New Zealand) is a wholly owned subsidiary of Bank of Baroda- India’s International Bank and is in its ninth year of operation as a registered bank under the Reserve Bank of New Zealand Act 1989.
The Indian Weekender spoke with Mr Srivastava about his expectations from the role and value it can offer to the wider community.
IWK: How do you find New Zealand?
Anupam Srivastava: It is interesting. The weather is different, and it is exciting to be here, and there is a lot of scope for the bank here, and I am looking forward to working here.
IWK: Tell us more about Bank of Baroda in New Zealand?
AS: Bank of Baroda has been the first Indian bank to open in New Zealand. It opened in 2010, and we have delivered seven years of our service in the country. We have three branches, two in Auckland – Manukau and Dominion Road and one in Wellington.
IWK: What are the services that Bank of Baroda in New Zealand offers?
AS: Everything a bank can offer, we offer that. But there are certain special services for the people of Indian origin, for example, a typical Indian who would come from India would like to settle down, send remittances back to India which is free, and he or she can do it from internet banking also.
Then he would like to have an NRI account in India because he is still not a permanent resident here, so we facilitate that by opening a bank account in India which is denominated in Indian rupees also.
Once he is settled here, gets his residency then he would like to have a home loan, and we are there in that space also and that too on competitive terms. So we support in getting home loans and subsequently when he prospers and grows we can give him business loans, SME loans, investment housing loans, etc.
Apart from that for Kiwis in general, we offer very attractive interest rates on deposits going way up to four per cent per annum. We would encourage anyone who is wishing to deposit because we provide a very good, attractive yield.
IWK: This has come as news to me, I was personally not aware that we could come for home loans etc. Are the rates of interest, terms and conditions different, lenient or stringent for the Kiwi Indian community?
AS: It is almost the same, and you will find our dealings are very friendly we have an Indian heritage that helps. It is competitive, and we are keen to have that kind of business in our banks.
IWK: Is there any other service that has come recently to the bank or which you want to tell our Kiwi Indian community?
AS: We have this remittance service to India online so that you need not come to the branch. You can directly login from your home or anywhere and send money back to India. We are proposing that in a few months we will have mobile banking app also so it will be more user-friendly than internet banking, so we see that kind of a differentiator.
As far as the exchange rate goes we are the market leaders; you will not find a better rate than the Bank of Baroda.
IWK: Is there a message you would like to convey to our Kiwi-Indian community?
AS: To all Indians and all Kiwis, this is a moment to rejoice so we are there with everyone in this country. We wish you a very happy Diwali.