To push agriculture finance, state-owned Financial institution of Baroda (BoB) on Friday mentioned it has entered right into a pact with Mahindra and Mahindra for tractor finance enterprise.
The lender, by its over 5,000 rural and semi-urban department community, will present tractor mortgage facility to clients of Mahindra and Mahindra.
This memorandum of understanding (MoU) will make stronger agri enterprise and can assist farmers in availing hassle-free credit score services for getting tractors, BoB Government Director Vikramaditya Singh Khichi mentioned.
The tractor financing scheme was first piloted within the UP zone for a 12 months and it has been profitable, he mentioned including that that is being expanded into 11 zones of the financial institution.
The financial institution has tied up with Gromax below the Mahindra steady as the popular model, he added.
Moreover, he mentioned, the financial institution is focussing on dairy sector self-help teams and farmer producer organisations for increasing the agriculture finance portfolio.
(Solely the headline and film of this report might have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)
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