Bank of Baroda Strengthens Presence in Chhattisgarh

In a strategic move to deepen its reach and improve administrative efficiency in Chhattisgarh, Bank of Baroda has inaugurated a new zonal office in Raipur. This initiative is part of the bank's comprehensive strategy to expand its physical infrastructure alongside its digital advancements.

Virtual Inauguration and Strategic Goals

The office was virtually inaugurated on July 14 by M Nagaraju, secretary in the Department of Financial Services, alongside other government and bank officials. Nagaraju emphasized the importance of leveraging this new facility to enhance credit access for farmers, entrepreneurs, women, and self-help groups, highlighting Chhattisgarh's potential due to its rich mineral resources and agricultural base.

Localized Services and Decentralization

Debadatta Chand, Bank of Baroda’s managing director and CEO, stated that the Raipur office would enable faster execution and more localized services. "Chhattisgarh is one of the most productive and vibrant states in India," Chand remarked, underscoring the bank's commitment to decentralization, rapid execution, and inclusive growth.

Expanding Reach and Digital Services

The Raipur zone will oversee 212 branches and four regional offices, with a significant 66% of the network situated in rural and semi-urban areas. The bank aims to bolster support for MSMEs, local industries, and drive lending in retail, SME, and agriculture sectors. Additionally, the office will play a pivotal role in implementing digital banking services, including the bob World app, and coordinating financial literacy programs across the state.

Future Plans and National Network

Bank of Baroda plans to open 200 branches nationwide in FY26, with the Raipur office joining a network of 25 zonal offices serving as administrative hubs. The bank reported a net profit of Rs 19,581 crore in FY25, demonstrating its strong financial health and commitment to expanding services in emerging and industrializing districts of central India.