Agri Business

Bank of Baroda launches centralised agri-loans processing units

Our Bureau Mumbai | Updated on October 17, 2021

Will also promote collaboration with local organisations for sourcing quality business

Bank of Baroda (BoB) on Saturday launched centralised agri-loans processing units across 16 Zonal Offices.

Christened as the Centre for Agriculture Marketing and Processing (CAMP), the unit is a dedicated credit delivery model with a focus on financing non-traditional agricultural products and handling agri-marketing activities, the public sector bank said in a statement.

CAMP consists of trained manpower with an understanding of and exposure to high value credit accounts, it added.

The bank said it will also promote collaboration with local organisations for sourcing quality business.

Changing landscape

Sanjiv Chadha, MD & CEO, Bank of Baroda, said that the agriculture sector has been one of the very few sectors which has not only been resilient in the face of the ongoing pandemic but has also been growing. Further, a large number of agritech firms are changing the entire agri-ecosystem and landscape.

“This is resulting in newer opportunities for growth at a much reduced cost…As the country celebrates ‘Azadi ka Amrit Mahotsav’ (75 years of Independence), we are committed to invest in the sustainable growth of the agri and allied industries,” Chadha said.

Also see: ₹28,655-crore Centre’s subsidy on fertilisers for rabi season to benefit farmers, industry

Vikramaditya Singh Khichi, Executive Director, Bank of Baroda, said that in the changing market scenario, CAMP will promote adoption of new and innovative agriculture products and practices, resulting in the bank having a diversified agriculture advances portfolio.

Meanwhile, BoB on Saturday launched the 4th edition of ‘Baroda Kisan Pakhwada’, a fortnight long farmer engagement programme.

Published on October 16, 2021

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