BoB to develop agri-digital platform 'Baroda Kisan', inks MoUs with 6 firms
22 Sep 2019
Public sector lender Bank of Baroda Tuesday said it will develop an agri-digital platform called 'Baroda Kisan' in order to provide solutions for all major agricultural requirements.
Six companies -- Skymet Weather Services, Weather Risk Management Services, BigHaat, Agrostar India, EM3 Agri Services and Poorti Agri Services -- have signed a memorandum of understanding (MoU) with the bank for this project, it said.
In a statement, the bank further said the agri-digital platform will be executed by IT Centre of Excellence (ITCoE) of Bank of Baroda in partnership with IBM India.
The digital platform will give an holistic approach towards solving agricultural plights by means of providing reliable and customised information, inputs for use, convenience of renting farm equipment and market linkage for sale of agri-produces, it said.
"Digitization of agri services will have a huge impact on the Indian economy and this collaboration is an effort towards keeping up with the use of technology in the field of agriculture," Bank of Baroda Managing Director and CEO P S Jayakumar said.
Farmers are an integral part of India, and 'Baroda Kisan' is a dedicated platform created to ease their requirements, he added.
About Bank of Baroda Bank of Baroda
(“The Bank”) established on 20th July 1908 is a State-owned banking and financial services organisation, headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.
Bank of Baroda is India’s leading public sector bank with a strong domestic presence supported by self- service channels. The Bank’s distribution network includes 8,200+ branches, 10,000+ ATMs, 1,200+ self-service e-lobbies and 20,000 Business Correspondents. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The Bank has wholly owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint ventures for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% in The Nainital Bank. The Bank has also sponsored three Regional Rural Banks namely Baroda Uttar Pradesh Gramin Bank, Baroda Rajasthan Gramin Bank and Baroda Gujarat Gramin Bank.