2017-06-05 :Bank of Baroda signs MoU with Small Farmers Agribusiness Consortium for loans
Bank of Baroda (BoB) has signed Memorandum of Understanding (MoU) with Small Farmers Agribusiness Consortium (SFAC). With this agreement, BoB aims to provide collateral free loans to Farmers Producer Companies (FPC) in order to help India in building a robust agricultural economy.
2017-05-30 :Bank of Baroda to raise the capital of Rs. 9,000 crore by the end of FY17-18
Bank of Baroda is planning to raise capital of Rs. 9,000 crore by the end of this fiscal year. This money will be raised via follow-on public offer (FPO) to investors both from India and overseas market. The board of the directors have approved the fundraising of Rs. 9,000 crore which comprises of Rs. 6,000 crore through equity capital and another Rs. 3,000 crore by way of additional tier I capital.
2017-04-19 :Bank of Baroda ties up with EM3 Agri Services for loans
One of the public sector bank, Bank of Baroda has signed MoU (memorandum of association) with EM3 Agri Services to give loans to farmers and rural entrepreneurs to purchase farm equipments and related machinery. BoB notifies that the deal has been signed considering government’s focus on doubling farmers’ incomes by year 2022.
2017-03-02 :Bank of Baroda launches a fellowship program for fintech startups
Bank of Baroda has announced the launch of fellowship program in a move to promote and support fintech startups. The program is aimed at providing an opportunity to the startup owners to gain experience of banking and financial sector services. Under the program, BoB will allow the executives of the selected start-up firms to use banking infrastructure to develop and finalise their business ideas. The bank will accept applications for the program till 20th March, 2017.
2017-02-14 :Bank of Baroda plans to put in place a 2000 strong sales forces to push retail loans
Bank of Baroda is planning to put in place a 2000 dedicated and strong sales force to push its retail loans. The existing retail loan portfolio of the bank stands at 19 percent of its total domestic advances. The bank intends to focus on select centres in metros at the initial stage, gradually expanding to other centres.
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