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Aquaconnect partnered with Bank of Baroda

Published on March 12, 2021
Current Context: Aquaconnect, which is a leading aquaculture Tech Company has partnered with Bank of Baroda.
Aquaconnect partnered with Bank of Baroda
  • They have partnered to grant credit access to aquaculture farmers.
  • The facility will be granted under the Kisan Credit Card Scheme.
  • The credit access will be provided at an annualized rate of as low as 10%.
  • This partnership will prove beneficial to 15,00,000 fish farmers and over 1,50,000 shrimp farmers across the country.
  • Under this partnership, Aquaconnect will grant advisory services and quality farm inputs to fish farmers and shrimp farmers. Bank of Baroda has extended loan for up to Rs 10 lakhs under the KCC scheme and fisheries loan facility.
  • The partnership will target states like Andhra Pradesh, Tamil Nadu, Gujarat and Odisha and later will be extended to the rest of the states as well.
  • Static Part: 
    • Kisan Credit Card Scheme: It is created by NABARD to fulfil the credit requirements of the agriculture sector of the country.
    • HQ of BOB: Vadodara, Gujarat
    • Tagline of BOB: India’s International Bank
    • HQ of Aquaconnect: Chennai, TN

Question: 

Q.1 With which bank has Aquaconnect partnered to grant credit access to aquaculture farmers?
a. Punjab National Bank
b. Bank of Baroda
c. States Bank of India
d. Canara Bank
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