Bank of Baroda approves Rs 134 cr agri-loans to TN farmers

CHENNAI: Public sector Bank of Baroda has sanctioned over Rs 100 crore worth of agricultural loans in Tamil Nadu during its 15-day farmer outreach programme held here recently.

At the fifth edition of 'Baroda Kisan Pakhwada' held between November 15 and 30, as many as 161 semi-urban and rural branches of the bank took part. More than 20,000 farmers across Tamil Nadu received farm loans of Rs 134 crore, the bank said in a statement on Saturday.

The 'Baroda Kisan Pakhwada' has been designed to help the bank boost engagement with the farming community and create awareness about various agricultural products, schemes offered by the Bank.

"We at Bank of Baroda are pleased to be reaching out to the farming community on a larger scale and provide them with details and financial assistance and make them familiar with various types of agri-loans, banking services and various agricultural initiatives launched by the government," Bank of Baroda general manager and zonal head (Chennai) A Saravanakumar said.

Bank of Baroda has 314 branches of which 161 are located in rural areas in the state. As on September 30, 2022 the advances in the agricultural sector in Tamil Nadu stood at Rs 7,800 crore, the bank noted.