Vadodara is more popularly known by its earlier name Baroda. It is an important city in Gujarat. Vadodara stands third among the largest cities in Gujarat, closely following Ahmedabad and Surat. It is known for its rich cultural heritage, and hence the city has earned the name of the ?Sanskrit Nagar? or the ?Kala Nagari? (City of Arts). After the Mughals were expelled by the Marathas from Gujarat, their local lieutenants known as the Gaekwad clan settled down in Vadodara. The descendants of the royal family still remain in this city in the famous Lakshmi Vilas Palace. Fertilizers, medicines, compounds, fisheries, dairy, fiber weaves and machine gears contribute to this citys economy. Crops like rice, wheat, grams, sugarcane, yellow peas and yarn are harvested in Vadodara. The city is located on the banks of the Vishwamitri river. Vadodara experiences a semi-arid climate, with dry summers and winters and humid monsoon days. Many large-scale and heavy industries can be found in this city. Units of Indian Oil Corporation (IOCL), Indian Petrochemicals Corporation Limited (IPCL), Gujarat State Fertilizers & Chemicals (GSFC), Oil and Natural Gas Corporation (or ONGC), Gujarat Alkalis and Chemicals Limited (GACL) and Gas Authority of India Limited (GAIL) are to be found in and around the city. There are numerous educational institutions in Vadodara including the largest university in Gujarat - Maharaja Sayajirao University of Baroda.
The Bank of Baroda started in 1908 from a small building in Baroda and expanded to the hi-tech corporate office in Baroda or Vadodara while spreading across 25 countries. The mission of the BOB is to be on the top ranks of international standards and remain committed to expanding the stakeholders value by taking care of them. The logo is a unique depiction of a universal symbol. It consists of a double B letter which holds the rays of the rising sun which is called as Baroda Sun. The Sun depicts the dominant source of light and energy which replace the darkness with light. The Bank of Baroda also refers the bank as the source of light which helps the stakeholders in realizing their goals. The single color has been carefully chosen because of its uniqueness as it stands for hope and energy. The Maharaja of founded the Bank of Baroda on 20th July 1908. The bank had been designated as the primary profit-making public sector undertakings or PSUs after getting nationalized by the GOI on 19th July 1969 along with 13 other commercial banks.