The Bank of Baroda (BoB), the fourth-largest nationalized bank with 132 million customers has announced the establishment of centralized agri-loans processing units across 16 Zonal Offices on Saturday.
The Centre for Agriculture Marketing and Processing (CAMP) is a dedicated credit delivery model focused on financing non-traditional agricultural products and managing agri-marketing activities, according to a statement from the bank.
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CAMP is made up of trained personnel who have knowledge of and experience with high-value credit accounts, according to the company.
According to the bank, it will also encourage collaboration with local organizations in order to source quality business.
The landscape is shifting
According to Sanjiv Mr Chadha, MD & CEO of Bank of Baroda, the agriculture segment has been one of the few that has not only been resilient but has also grown in the face of the ongoing pandemic. Furthermore, a large number of agritech companies are transforming the entire agri-ecosystem and landscape. ‘As a result, there are more opportunities for growth at a lower cost.
As the country commemorates 75 years of independence, ‘Azadi ka Amrit Mahotsav’ we are committed to investing in the long-term growth of agriculture and allied industries,’ Mr. Chadha said.
According to Vikramaditya Singh Khichi, Executive Director of Bank of Baroda, in the changing market scenario, CAMP will promote the adoption of new and innovative agricultural products and practises, resulting in the bank having diverse agriculture advances portfolio.
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In the meantime, BoB launched the fourth edition of ‘Baroda Kisan Pakhwada,’ a couple of weeks of farmer engagement programmes, on Saturday.