Good news for small and medium enterprises (MSMEs) in Chhattisgarh. Bank of Baroda, a leading public sector bank in the country, has launched a new Zonal Office in Raipur. Debadatta Chand, Managing Director and Chief Executive Officer of the bank, inaugurated the new office. He stated that this step has been taken to strengthen the MSME sector in the state. The bank will now focus specifically on small businesses, artisans, self-employment groups, and farmers in Chhattisgarh.
Bank's Strategy: Decentralization and Faster Decisions at the Local Level
Debadatta Chand said that Bank of Baroda's strategy will now be based on rapid implementation and decentralization. He said, "Chhattisgarh is a vibrant and energetic state with no shortage of resources. The bank will now provide faster and more accurate services to customers by making decisions at the local level. The Zonal Office has been opened in Raipur with this thinking."
He mentioned that the bank's aim is to reach every segment of Chhattisgarh, especially in rural areas. There are significant self-employment opportunities here, and the bank will support it.
Bank's Strong Presence in the State
Bank of Baroda already has a good presence in Chhattisgarh. The bank has a total of 212 branches in the state, with more than 1600 employees working in them. 66 percent of these branches are located in rural and semi-urban areas. Bank officials believe that there is a need to further strengthen banking facilities in rural areas, and new plans are being prepared keeping this in mind.
Central Government Expresses Expectations
M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, was also present on this occasion. He said that Chhattisgarh is a state rich in natural resources, with abundant minerals, agriculture, and water resources. He suggested that the bank provide more credit assistance to small entrepreneurs, women's groups, farmers, and self-help groups (SHGs) in the state.
Nagaraju said that the role of banks should not be limited to lending, but they should become partners in rural development. He appreciated the efforts of Bank of Baroda and expressed hope that the bank will play an even greater role in the socio-economic development of the state in the coming times.
Big Goals Regarding the MSME Sector
Debadatta Chand stated that the bank's main focus will now be on lending to and understanding the needs of micro, small and medium enterprises (MSMEs). There are thousands of such enterprises in Chhattisgarh that are operating with low capital and do not receive timely financial assistance.
The bank will now provide these entrepreneurs with customized loan schemes according to their business models. In addition, they will also be provided with digital banking, payment solutions, insurance, and enterprise development training.
Operations of the Entire State from Raipur
Bank of Baroda's new Zonal Office will oversee the operations of the entire Chhattisgarh from Raipur. Earlier, the bank had four regional offices in the state, but now a centralized zonal system has been initiated. Under this, efforts will be made to bring transparency, accountability, and speed to banking services.
Bank officials said that the new Zonal Office located in Raipur is equipped with state-of-the-art technology. Arrangements have been made here for customer service, loan approval, review of MSME schemes, and field officer training.
Emphasis will also be on Rural Banking
There are still many villages in the remote areas of Chhattisgarh where banking facilities are limited. Bank of Baroda plans to reach these villages with banking through mobile banking units and digital service centers.
The bank will promote schemes like agricultural loans, Kisan Credit Cards, and self-employment loans in rural areas. Special training is being given to the bank's field officers for this so that they can understand local needs well.
Special Attention to Women and Youth
The bank also stated that it will encourage women entrepreneurs and youth. Priority will be given especially to self-employment schemes, startup loans, and women SHGs. The bank stated that there are many examples in the state where women have created successful businesses with small investments.
Debadatta Chand said, "Bank of Baroda's objective is not just banking, but to develop together with the community. Our endeavor is that every talent in the state gets a platform and they become economically b."
New Trust with a New Beginning
Through the new Zonal Office that has started in Raipur, Bank of Baroda has signaled that it will no longer be limited to traditional banking. In a state like Chhattisgarh where there are more opportunities for development, the bank now wants to participate directly by connecting with it.
