Bank of Baroda, India's leading public sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country.

Jain Irrigation Systems (JISL) is an Indian multinational company established in 1986 with manufacturing plants in 30
locations across the globe.

G.B.Bhuyan, Head (Rural & Agri Banking and CSR) said, ''We have entered memorandum of understanding with Jain Irrigation Systems Limited to work jointly to provide loans to the farmers who need finance for the purchase of micro irrigation systems. This scheme is aimed to provide financial assistance to purchase of micro irrigation systems to increase the area under irrigation thus helps to improve yield of crop and helps in saving water. This relationship of Bank of Baroda, one of the premier banks of our country, with Jain Irrigation Systems Limited will immensely benefit the farmers in increasing their farm productivity and earnings.''

Shares of the bank gained Rs 1.75, or 1.02%, to trade at Rs 173.45. The total volume of shares traded was 358,035 at the BSE (12.35 p.m., Tuesday).