Bank of Baroda, one of India’s leading public sector banks, has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) to launch the bob Earth Circular Economy Scheme (MSE Spice) under the Bank’s Green and Sustainable product category. The scheme has been introduced as part of Bank of Baroda’s continued efforts to foster a greener and more sustainable future. It aims to empower Micro and Small Enterprises (MSEs) to adopt sustainable practices that promote resource efficiency, enhance competitiveness, and contribute towards global sustainability goals.
The MoU was signed in New Delhi by Shri Madhur Kumar, Chief General Manager, MSME Banking, Co-Lending and SCF Department, Bank of Baroda and Shri R. K. Singh, Chief General Manager, Green Climate Finance Vertical, SIDBI. The signing ceremony was graced by Smt. Rachna Mishra, General Manager, Government Relationship Department, Bank of Baroda and Shri S. R. Meena, General Manager, SIDBI.
Speaking on the occasion, Shri Madhur Kumar, Chief General Manager, Bank of Baroda said, “With the launch of the bob Earth Circular Economy Scheme, we are reinforcing our commitment to sustainability while supporting the growth aspirations of MSEs. This initiative will enable enterprises to transition towards greener operations, boost their efficiency and competitiveness, and contribute to India’s broader climate and sustainability goals.”
This partnership reinforces Bank of Baroda’s commitment to promoting sustainable growth and supporting India’s MSE sector in adopting eco-friendly practices.
About Bank of Baroda
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India.
The Bank serves its global customer base of over ~180 million through around 65,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner.
The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.