Bank of Baroda Chairman and Managing Director S.S. Mundra, inaugurating the bank’s National Pilot Agri Loan Factory at Himatnagar in Gujarat on Friday, said it would give a boost to the State’s agriculture sector. The bank selected Gujarat to launch its national pilot project as the farmers of the State were dedicated and hard-working, he added.
The ‘loan factory’ started off with a sanction of Rs 53 crore in advances to the farm sector. Sanctioned cheques were also distributed to top borrowers.
The specialised loan programme will process all types of loans related to agriculture under one roof. The aim is to speed up the process of providing loans to the sector.