Bank of Baroda opens specialised SME branch

Vijayawada: Bank of Baroda has inaugurated a specialised Small and Medium Enterprises (SME) Branch in Vijayawada, reaffirming its commitment to strengthening the MSME sector and supporting Andhra Pradesh’s economic growth.

The branch was inaugurated by Sunil Kumar Sharma, Chief General Manager – MSME Banking, co-lending and supply chain finance, Corporate Office, Mumbai, in the presence of MVS Sudhakar, general manager and zonal head, Hyderabad Zone, and SK Kiran Reddy, Deputy General Manager and Regional Head, Vijayawada Region. Local business leaders, community representatives and customers also attended the programme.

The new branch assumes significance due to Vijayawada’s strategic proximity to Amaravati, the upcoming capital city, which is expected to emerge as a major centre for infrastructure, commercial and economic activities.

Addressing the gathering, Sharma said the specialised branch would offer comprehensive financial services, including working capital, term loans, project finance and customised credit facilities to existing and aspiring entrepreneurs.

He said the branch would cater to the diverse business potential of the Vijayawada-Guntur-Amaravati region, covering infrastructure, construction, agro and food processing, rice mills, chilli and turmeric industries, textiles, handlooms, aquaculture, engineering, manufacturing, logistics, healthcare and hospitality sectors.

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The Hans India