New Delhi - Bank of Baroda., has signed strategic Memorandums of Understanding (MoUs) with Tata Hitachi Construction Machinery Company Private Limited., and SANY Heavy Industry India Pvt. Ltd., to enhance financing access for businesses in India’s construction and mining equipment sector.
These partnerships are designed to widen credit availability under the bank’s CME Finance Scheme, helping MSMEs invest in modern equipment while supporting the country’s infrastructure growth ambitions.
The agreement with Tata Hitachi was signed in the presence of senior representatives from both organizations. Bank of Baroda was represented by Shri Madhur Kumar, Chief General Manager, MSME Banking, Co-Lending & Supply Chain Finance; Shri Dhrubashish Bhattacharya, Head, New MSME Banking; and Shri Ashwini Kumar, General Manager, MSME Banking. Tata Hitachi was represented by Shri Ashish Kumar Arora, Head – Retail Finance.
Bank of Baroda also formalized a similar agreement with SANY Heavy Industry India Pvt. Ltd. Senior officials present at the signing included Shri Madhur Kumar, Chief General Manager, MSME Banking; Shri Dhrubashish Bhattacharya, Head, New MSME Banking; and Shri Brajesh Khale, Assistant General Manager, MSME Banking. Representing SANY was Shri Arun Raghunath, Senior General Manager – Sales Development & Financier Relations.
Through these collaborations, Bank of Baroda aims to make financing for construction and mining equipment more accessible and streamlined. The initiative is expected to help MSMEs acquire advanced machinery, improve operational capacity, and expand their business potential.
The partnerships also align with India’s broader infrastructure development agenda and the ongoing push to strengthen the MSME ecosystem. By improving access to credit, the bank is expected to encourage greater equipment adoption and contribute to long-term growth in the construction and mining sectors nationwide.
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