Bank of Baroda (BoB) has signed memorandum of understanding (MoU) with Mahindra and Mahindra (M&M) for tractor finance business. The lender, through its over 5,000 rural and semi-urban branch network, will provide tractor loan facility to customers of M&M.
This MoU will give a boost to agri business and will help farmers in availing hassle-free credit facilities for buying tractors. The tractor financing scheme was first piloted in the UP zone for a year and it has been successful and this is being expanded into 11 zones of the bank.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
