365Telugu.com online news,Hyderabad, November 30, 2024: Bank of Baroda, one of India’s prominent public sector banks, has successfully organized the 7th edition of its flagship annual program, ‘Baroda Kisan Pakhwada,’ in its Hyderabad Zone.
The event, which engages farmers and rural communities across India, focused this year on the use of technology in banking and agriculture to empower Indian farmers.
Throughout the Baroda Kisan Pakhwada 2024, held across Telangana and Andhra Pradesh, the Bank reached out to over 3,700 farmers through 70 outreach events and disbursed or sanctioned agricultural loans amounting to approximately ₹25 crore. The Hyderabad Zone spans 8 regions in both states.
A highlight of this year’s edition was the promotion of key digital offerings for farmers, including the Digital Baroda Kisan Credit Card (BKCC) and Digital Gold Loan. Bank of Baroda has partnered with the Reserve Bank Innovation Hub (RBIH) to integrate digital land records and farm-related data for seamless onboarding and disbursement of the Digital BKCC.
This end-to-end digital process is already active in 17 states, with plans for expansion. Additionally, the Digital Gold Loan allows customers to conveniently apply for a loan through the Bank’s digital platform.
Shri Ritesh Kumar, General Manager & Zonal Head of Bank of Baroda, Hyderabad Zone, remarked, “The Baroda Kisan Pakhwada, now in its 7th year, demonstrates Bank of Baroda’s commitment to supporting India’s farmers with innovative financial solutions.
This year, we have focused on enhancing our digital services like the Digital Baroda Kisan Credit Card and Digital Gold Loan to provide easier access to banking for the agricultural community.
The events such as farmer meets, choupals, and kisan melas have been instrumental in strengthening our relationship with customers and understanding their financial needs.”
With 434 branches in the Hyderabad Zone, including 230 in semi-urban and rural areas, Bank of Baroda has been a key player in agricultural finance. Kisan Credit Cards, Gold Loans, Tractor Loans, and Lending to Self Help Groups (SHG) have been the leading growth sectors in the region’s agricultural portfolio. As of September 30, 2024, the Bank’s agri loan portfolio in the Hyderabad Zone saw a year-on-year growth of 20.46%.
The Baroda Kisan Pakhwada initiative aims to foster deeper engagement with India’s farming community, raise awareness about the Bank’s agricultural offerings, and promote Government of India schemes for the agriculture sector.
For easy access to the Bank’s digital offerings, customers can apply for the Digital Baroda Kisan Credit Card (up to ₹1.60 lakh) at Digital BKCC, Digital Gold Loan at Digital Gold Loan, and Agri Loans at Bank of Baroda Agri Loans.