Mumbai: Bank of Baroda, India's second-largest public sector bank, has signed a memorandum of understanding (MoU) with 'Investor Education & Protection Fund Authority' (IEPFA) to initiate awareness and information among investors who often fall prey to tempting offers for investments and Ponzi schemes due to lack of communication.

Speaking on the occasion Bank of Baroda's Executive Director SL Jain said, "This association will be mutually beneficial in building an informed customer base through our branches and social media and other IEC collaterals. The MoU signing exercise will be beneficial for both since it will lead to the enhancement of the customer base in the bank due to proper Investor Awareness messages."

Ministry of Corporate Affairs's Joint Secretary & IEPFA's Chief Executive Officer (CEO) Manoj Pandey said, "With the signing of the MoU, IEPFA and Bank of Baroda will collaborate in spreading Investor Awareness and Education by Co-branding on various IEC Collaterals."

Bank of Baroda's General Manager (Marketing, PR & Wealth Management) OK Kaul said, "Bank of Baroda remains committed in its journey towards creating a clean investment environment and with the association of IEPFA, the Bank looks forward to helping customers refrain from investing in fraudulent schemes."

The convergence exercise aims to help investors focus on fruitful investments which in turn will help in contributing towards the economic growth of the country.

Disclaimer: This story is a press release and is being published without any editing by PSU Watch desk. Our editorial team has only changed the headline.