Bank Of Baroda Inks Pact With SIDBI To Boost Credit Flow To Small Biz

The State-owned Bank of Baroda on Tuesday announced a tie-up with Small Industries Development Bank of India (Sidbi) to jointly enhance credit flow to small businesses and startups.

The two entities will provide joint finance for micro, small and medium enterprises, operationalise the bank's working capital platform for Sidbi-sanctioned borrowers and also work on export promotion as per the memorandum of understanding signed on Tuesday, as per a statement.

The lender is offering benefits on travel, rare experiences and also 'value backs' on spends to the customers signing up for the 'Lumiere' and 'Nova' offerings, as per an official statement.

The solution, part of the lender's efforts to partner with startups from growth-stage to IPOs, comes with financial, lifestyle, and wellness offerings, as per a statement.