Media Release
Mangaluru, Sep 30: Bank of Baroda, the country’s third-largest public sector bank, inaugurated the third edition of ‘Baroda Kisan Pakhwada’ which is being organised from October 1 to 16. This event is earmarked to appreciate the spirit and vigour of the farming community for their contribution towards sustaining the economy during the pandemic and for the development of the country.
‘Baroda Kisan Pakhwada’ is a pan-India initiative to encourage farmers to get connected with the services offered by the government and the bank. Last year over 6,11,779 farmers were benefitted by various outreach programmes conducted by the bank. This year the bank has focused on organizing similar programmes in virtual mode for the benefit of farmers at large. This year, the bank will also include the promotion of new schemes under Aatmanirbhar Bharat Abhiyan. The pakhwada will conclude on October 16 with the celebration of ‘Baroda Kisan Diwas’, coinciding with the 'World Food Day'.
The bank recently took initiatives to bolster tractor financing in India by providing better financial service to farmers as a step to support and empower them for farm mechanization.
On the occasion, Sujaya U Shetty, zonal head, said, “Bank of Baroda has been organizing Baroda Kisan Pakhwada since 2018 to reach out and lend support to the farmers of our country, in recognition of their immense contribution to India's economic progress through the decades. Another key objective of this initiative is to enhance the financial literacy among the farmers and encourage them to adopt modern technology and best practices, for better productivity.
"The bank is keen to provide financial services to the farming community, through various schemes and to make them aware of the opportunities available in the agriculture sector. We are aligned with the government's goal of doubling the income of farmers expeditiously and initiatives like Baroda Kisan Pakhwada would go a long way in achieving this goal.
"In this third edition of Baroda Kisan Pakhwada, we shall also especially focus on the schemes under Aatmanirbhar Bharat package. However, in view of the COVID-19 pandemic, the outreach programmes would majorly be on virtual mode, and all safety norms prescribed by the concerned authorities shall be followed strictly. I am sure that this fortnight-long event would prove to be very beneficial for the farming community.”
The bank's outreach programmes will be held with strict adherence to the COVID-19 norms laid down by the government and the local administration at various places, particularly avoiding mass gathering and complying with social distancing norms.
While focusing on all agriculture-related schemes during this fortnight, the bank will give special emphasis on promoting the following schemes recently announced by the government :
• Scheme for financing under Agriculture Infrastructure Fund
• Scheme for financing under Animal Husbandry Infrastructure Fund
• Scheme for financing facility under PM Formalization of Micro Food Processing Enterprises
These schemes are available to all customers of the bank and farmers at less margin along with interest subvention provided by the government.
About Bank of Baroda:
Bank of Baroda ('The Bank') established on July 20, 1908 is a state-owned banking and financial services organisation, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self-service channels. The bank’s distribution network includes 9,500+ branches, 13,400+ ATMs, 1,200+, self-service e-lobbies and 18,000 business correspondents. The bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The bank has wholly-owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint-ventures for life insurance namely India First Life Insurance Co Pvt Ltd and India Infradebt Ltd, engaged in infrastructure financing. The bank owns 98.57 % in The Nainital Bank. The bank has also sponsored three regional rural banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.
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