Bank of Baroda has taken another initiative towards improving credit penetration in farm mechanization by entering entered into an MoU with Mahindra & Mahindra (tractor division) for tractor finance business.
As a preferred financier, Bank of Baroda through its 5000+ rural & semi-urban branch network, will provide tractor loan facility to its customers.  M&M, through its dealers will carry out promotional activities and provide offers and/ or discounts as may be decided by M&M from time to time for customers financed by Bank of Baroda.
The MoU was signed by Madhur Kumar, GM (zonal head – Mumbai zone) Bank of Baroda, and by Sunil Johnson, national sales head, Mahindra & Mahindra.