of Baroda has tied up with major tractor manufacturing
companies as part of its strategy to give thrust to
agriculture lending. To make available quality products
at a discounted rate, it has signed MOUs with seven
major manufacturing companies.
of Baroda has tied up with Mahindra & Mahindra Ltd
(M&M) for tractor financing to farmers. Under this
MOU, a special discount of Rs3000 will be offered to
the farmers who purchase M&M tractors with financial
assistance from Bank of Baroda.
of Baroda has a sound base in rural lending and a network
of 1718 branches in rural and semi urban areas.
Baria, general manager (PS, RRBs and OL) of Bank of
Baroda and Gautam Nagwekar, executive vice president
(sales and marketing) of M&M signed the MOU on August
of Baroda is aiming to give thrust to farm mechanisation
and is providing loans up to Rs10 lakhs at a very competitive
interest rate of 9.25 per cent pa with down payment
of only 10 per cent.