Mumbai, November 18, 2022: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the launch of the 5th Edition of the Baroda Kisan Pakhwada. The annual farmer engagement programme commences on November 15, 2022, and concludes on November 30, 2022, with the Baroda Kisan Diwas celebrations. During the 2-week agri festival, the Bank will connect with 4.5 lakh farmers through a number of outreach events. The Bank’s network of ~5,000 semi-urban and rural branches across the country that predominantly serve the agri customer segment will actively participate in ‘Baroda Kisan Pakhwada’.
‘Baroda Kisan Pakhwada’ has been designed to help the Bank boost engagement with the farming community and create awareness about various agri products, schemes & delivery channels offered by Bank of Baroda and initiatives taken by the Government for the benefit of farmers.
Through outreach programmes such as farmer meetings, choupals, kisan melas etc, the Bank will provide detailed information about various agricultural lending products like the Baroda Kisan Credit Card, tractor loan, gold loan, financing to Self Help Groups (SHGs)/ Joint Liability Groups (JLGs), credit for agriculture allied activities etc and offers available to farmers. The Bank has also introduced digital banking services specifically for the agri segment to enable them to conveniently apply for agriculture loans.
The event will also promote various Government agri initiatives such as lending schemes under the Atmanirbhar Bharat Package viz. Agriculture Infrastructure Fund (AIF), Animal Husbandry Infrastructure Development Fund (AHIDF), Pradhan Mantri Matsya Sampada Yojana (PMMSY), PM Formalisation of Micro Food Processing Enterprises Scheme (PM-FME), etc.
Speaking on the occasion, Shri Sanjiv Chadha, Managing Director & CEO, Bank of Baroda said, “As a leading public sector bank, Bank of Baroda has a strong legacy and deep roots with the Indian farming community. We connect rural and semi-urban India to mainstream banking, enabling them to scale up their agri operations with a range of lending products and banking services. ‘Baroda Kisan Pakhwada’ is a unique and truly one-of-its-kind initiative in the banking industry, an opportunity to strengthen our relationship with our agri customers and acknowledge their contribution to the nation.”
The earlier four editions of the Pakhwada received an enthusiastic response from customers and were appreciated at various levels. In 2018, the inaugural edition of the Baroda Kisan Pakhwada was acknowledged by the “Limca Book of Records” as the largest farmer engagement programme of this nature in the country.
This year, the Bank is aiming to increase the reach of the event and bring more farmers into the banking fold by offering a range of products including Baroda Kisan Credit Card (BKCC), Tractor Loan, Gold Loan, Financing to SHGs/JLGs, agriculture allied activities, Farmer Producer Organisations/ Company (FPO/FPCs), Food & Agro Processing Units etc.
Bank of Baroda’s lending to the agriculture sector stands at Rs 1,14,964 crore as on September 30, 2022, recording a 14.1% year-on-year growth.