Bank of Baroda has launched an agricultural investment credit for farmers in Rajasthan. The first loan has been disbursed in Sri Ganganagar. Under the scheme, farmers can avail of loan from the bank’s branches for construction of farm ponds, installation of solar pumps, installation of micro irrigation, and for any other viable agriculture and allied activities. The bank said the scheme will initially be implemented in the districts of Sri Ganganagar, Hanumangarh and Bikaner and will be gradually extended to all the districts of Rajasthan. The bank has already entered into tie-ups with leading suppliers of irrigation equipments to boost micro irrigation. The Bank has already entered into tie ups with leading suppliers of irrigation equipment to boost micro irrigation. Ambrish Kumar, director of Agriculture, Rajasthan government, said farmers in the state should utilize this opportunity to save water and also to improve their income levels. He felt other banks should follow suit and launch similar schemes for the farmers of Rajasthan. Mayank K Mehta, ED of the bank, said the bank intends to work with the farmers to address all their needs. The bank is focusing on an outcome based approach and this in tandem with other initiatives being undertaken by the bank will help the farmers in doubling their income by the year 2022.
