Bank of Baroda (Bank), one of India's leading public sector banks, has launched the 'Plant A Tree' programme as it celebrates its 115th Foundation Day. In a unique and first-of-its-kind initiative, the Bank will plant a fruit bearing tree on behalf of its customers for every Auto Loan or Home Loan disbursed over the next three years. The programme will help in preserving the environment while also augmenting the income of small farmers. The Bank expects to plant seven lakh trees over a three year period.
For this Environmental, Social, and Governance (ESG) initiative, Bank of Baroda has joined hands with the SankalpTaru Foundation, an NGO that is focused on 'Planting trees for the people, by the people'.
Implementing this project under the "Rural Livelihood" initiative, SankalpTaru Foundation will identify the farmers' land, obtain their consent and plant fruit bearing tree saplings free of cost for the farmers on their land, execute the plantation activities and look after the saplings for one year, including replantation if required.
Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda said, "In today's world, with increasing urbanisation, more cars on the road and more homes being built is inescapable and inevitable. We have to be mindful of its harmful impact on the environment. Bank of Baroda's unique Tree Plantation movement will help us contribute to a greener tomorrow, while also supplementing the income of our small farmers. As a socially responsible organisation, Bank of Baroda actively supports the key causes of environmental preservation, enriching biodiversity and conserving nature. The Bank's 'Plant A Tree' programme truly ticks all the boxes - for our planet, our farmers and our customers."
On disbursement of the auto / home loan, customers will be provided with a green Tree Plantation certificate that has the complete details of the tree planted on their behalf. Each tree will also be geo-tagged and secured by using block chain technology to avoid duplication. Customers can track their planted tree online with its exact geo location and also view a picture of the sapling planted in their name. They are also welcome to personally visit the tree physically anytime following the geo location coordinates.
Shares of Bank of Baroda was last trading in BSE at Rs. 116.55 as compared to the previous close of Rs. 115.15. The total number of shares traded during the day was 1016710 in over 4719 trades.
The stock hit an intraday high of Rs. 116.90 and intraday low of 114.60. The net turnover during the day was Rs. 117820391.00.