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Wednesday, February 28, 2024

Bank of Baroda To Plant A Tree For Every Auto, Home Loan Disbursed

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HT Bureau

GUWAHATI, July 26: Bank of Baroda (BoB) launched the ‘Plant A Tree’ program as it celebrates its 115th Foundation Day in 2022. 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 or Home Loan disbursed over the next three years. The program will help in preserving the environment while also augmenting the income of small farmers. The bank expects to plant seven lakh trees over three years.

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For this Environmental, Social, and Governance (ESG) initiative, the Bank of Baroda has joined hands with the SankalpTaru Foundation, an NGO that is focused on ‘Planting trees for the people, by the people’. The 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.

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, the Bank of Baroda actively supports the key causes of environmental preservation, enriching biodiversity, and conserving nature. The bank’s ‘Plant A Tree’ program 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 blockchain technology to avoid duplication. Customers can track their planted tree online with its exact geolocation 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.

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The Hills Times
The Hills Timeshttps://www.thehillstimes.in/
The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur.
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