Bank of Baroda to promote micro entrepreneurs

By VARINDIA - 2018-07-23

Bank of Baroda to promote micro entrepreneurs

Bank of Baroda held the Micro-Entrepreneurs Conclave, 2018 to commemorate its 111th Foundation Day and in an effort to emphasise the institution’s commitment to promote micro and small business entrepreneurs, the Bank entered into a Memorandum of Understanding (MoU) with 10 companies ranging from segments as diverse as e-commerce, logistics, service providers and traditional small business.

 

Micro and small enterprises are the backbone of the Indian economy and this sector contributes approximately 31% to India’s GDP, 45% of exports and provides employment to over 100 million. Rapid advances in information technology have given rise to new business opportunities in the MSME segment, especially around organized retail, ecommerce, entertainment etc. and their derivative segments. This has resulted in emergence of “Twin-Tracks” in the MSME segment, one comprising of old economy enterprises and the second comprising new age economy.

 

The challenges for the old economy lending are thin balance sheet, non-availability of authentic data and lack of collaterals where mitigation is done through ring fencing of cash flows, corporate tie-ups, individual/portfolio guarantees under MUDRA, Stand-Up India and CGTSME schemes. The new economy enterprises on the other hand require a paradigm shift in the process of credit underwriting. The business models of these companies, calls for development of credit models based on turnover, cash flow, digital data points and alternate data as compared to the earlier practice of balance sheet based lending.

 

Speaking on the occasion P. S. Jayakumar, MD & CEO, Bank of Baroda, said, “We are committed to work jointly with various partners to support MSMEs and Start Ups. We have entered into these MOUs with a view to enhance our foot print in delivery of products and services in MSME ecosystem. This is an endeavour to simplify operational processes and to improve access to finance for MSMEs from early to growth stage. Throughout FY 2018-19, we will continue to launch various initiatives in this direction that will support e-commerce and their derivative segment.”

 

As one of the leading banks in the country, Bank of Baroda has been in the forefront in ensuring smooth flow of credit to MSME segment through various initiatives. The Bank has developed structured products and realigned processes that enable MSME to access credit seamlessly. As on 31st March, 2018, the Bank has financed about 5.37 lakh micro entrepreneurs with aggregate outstanding of Rs.32,766 crore.

 

Mayank Mehta, Executive Director, Bank of Baroda, said, “Technological developments have resulted in a paradigm shift in the economy. Emerging new business revolving around organised retail, ecommerce, entertainment etc. have provided wealth of opportunities to micro entrepreneurs to expand their market and customer base without having any physical setup. Bank of Baroda is redefining the credit underwriting process by utilizing latest technology, platform data for assessments and monitoring, thus supporting new business segments that are emerging in the gig economy.”


 CIO  - SPEAK
Start-Up and Unicorn Ecosystem
 SOFTWARE  Placeholder image
Capgemini India inks agreement with The Energy and Resources Institute

Capgemini India inks agreement with The Energy and Resources Institute

Capgemini India has signed a Memorandum of Understanding (MoU) with The Energy and Resourc...

Capco partners with Coherent to drive Digital Transformation within Insurance and Banking

Capco partners with Coherent to drive Digital Transformation within Insurance and Banking

Capco and Coherent announced a new partnership to provide innovative technology solutions...

Zoho One announces new apps, services and platform enhancements

Zoho One announces new apps, services and platform enhancements

Zoho Corporation has introduced six new apps, three new services and seven major platform...

VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
Speakers and participants in 2nd Odias in ML Global Conference deliberate the 'what's and 'how's of tapping the AI/ML opportunity

Speakers and participants in 2nd Odias in ML Global Conference deliberate the 'what's and 'how's of tapping the AI/ML opportunity

Hosts of entrepreneurs, technologists, policymakers, academicians, and industry executives...

Splunk Cloud Platform welcomes in New Era of Data-Driven Transformation at .conf21

Splunk Cloud Platform welcomes in New Era of Data-Driven Transformation at .conf21

Splunk has announced the latest enhancements to Splunk Cloud Platform and Splunk Enterpris...

Asia-Pacific Women leaders power up for 4th annual Women to held from November 1-5

Asia-Pacific Women leaders power up for 4th annual Women to held from November 1-5

Hundreds of ambitious women in business will gather virtually at the fourth annual Wo...


Copyright varindia.com @1999-2021 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription