Bank of Baroda has taken another initiative towards improving credit penetration in farm mechanization by entering entered into an MoU with Mahindra & Mahindra (Tractor Division) for Tractor Finance business.
As a Preferred Financier to Mahindra & Mahindra, Bank of Baroda through its 5000 Rural & Semi-urban branch network, will provide Tractor Loan facility to its customers.
M&M, through its dealers will carry out promotional activities and provide offers and/ or discounts as may be decided by M&M from time to time for customers financed by Bank of Baroda.
Various sales and promotion activities will be undertaken at M&M’s dealer points, at Bank branches or outside locations under the tie-up.
The MoU was signed by Mr. Madhur Kumar, General Manager (Zonal Head – Mumbai Zone) Bank of Baroda, on Bank’s behalf and by Mr. Sunil Johnson, National Sales Head, Mahindra & Mahindra. Mr. M V Murali Krishna, GM & Head- Rural & Agri Banking, also joined the signing event through virtual mode from Bank’s Head Office, Baroda.
Web: www.bankofbaroda.com
the guiding principles based on which we operate. This MoU between Bank of Baroda and Mahindra & Mahindra will give a boost to Agri business and will help farmers in availing hassle- free credit facilities for buying Tractors.”
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