During an era when agri loans are becoming a necessity for farmers in India especially after a period of economic and literal lockdown bank of baroda’s decision to launch centralized agri loan processing units across 16 different zones is a very attractive offer to any farmer looking for capital to start their Agricultural practices.
“This is resulting in newer opportunities for growth at a much reduced cost…As the country celebrates ‘Azadi ka Amrit Mahotsav’ (75 years of Independence), we are committed to invest in the sustainable growth of the agri and allied industries,” Chadha said.
The agriculture industry, according to Sanjiv Chadha, MD & CEO of Bank of Baroda, has been one of the few industries that has not only remained resilient but has also grown in the face of the current epidemic.A vast number of agritech companies are also transforming the overall agri-ecosystem and terrain.
The credit delivery model of The Centre for Agriculture Marketing and Processing (CAMP) is focused on funding non-traditional agricultural products and managing agri-marketing activities, according to a statement from the public sector bank.
CAMP is made up of skilled personnel that has experience with and knowledge of high-value credit accounts, according to the company. The bank has also stated that it will encourage partnerships with local organizations in order to get high-quality business.
This provides a large opportunity for agritech startups and other companies to flourish and eight he said that the new farm laws help the farmers flourish in different avenues of the agribusiness.
Local organizations at the front of this initiative do help in getting more local farmer participation in such initiatives which leads to a situation in which people grow together and end up forming communities that only help in benefitting them as a whole.
