Bank of Baroda has started distribution of weaver credit cards to handloom weavers in the State.
E.H. Rahiman, General Manager (Tamil Nadu and Kerala) of Bank of Baroda, told The Hindu on Saturday that the card holders would be able to withdraw amount using the card and the limit would be fixed depending on their term and working capital loans. The banks in the State would distribute 20,000 weaver credit cards and Bank of Baroda would distribute 1,000 to 1,500 of these. Under financial inclusion, the bank had covered 81 villages and opened ultra small branches in all these villages.
The bank had 160 branches in the State and 60 per cent of these were in rural and semi-urban areas. The focus was on small and medium-scale enterprises (SMEs), retail, mid-corporate, and agriculture lending. In retail, the bank focused on housing and auto loans. The bank’s retail lending in Tamil Nadu was growing at 20 per cent to 25 per cent year on year. The bank had an SME loan factory in Coimbatore to process applications from this region. The growth of the SME sector lending was more than retail lending at 30 per cent year. The bank had a mid-corporate branch also here.
Bank of Baroda launched a campaign last month and a three-day home and auto loan expo was held here from Saturday as part of the campaign. The event at Grand Regent would be open from 10 a.m. to 8 p.m. and had 25 stalls. On display were projects related to apartments and villas in different parts of the city, Tirupur, Erode, and Tiruchi.