The State bank of India (SBI) has signed an MoU with Pondicherry Co-op. Milk Producers’ Union Ltd (PONLAIT) for financing individual dairy farmers up to Rs 3 Lakh. The Loan will be made available through YONO application of the SBI Bank. SBI has introduced a technology product, named ‘SAFAL- Simple And Fast Agriculture Loan’ for financing individual Dairy farmers, who are supplying milk to commercial dairies on a regular basis.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About the agreement:
Around 3,500 dairy farmers supplying milk to 98 primary milk societies of PONLAIT would be benefited by the arrangement. This was the first MoU signed in the Chennai circle of the bank which plans to enter into such agreements with commercial dairies throughout the country to finance farmers supplying milk to the dairies. The present arrangement to boost milk production with the help of bank loans would help the administration of the union territory to meet the daily requirement of milk.
Important takeaways for all competitive exams:
BBC has appointed Matt Brittin as the new Director-General, and it will be effective from…
Did you know that fish is one of the most widely eaten foods across the…
Rajasthan state government has launched the Industrial Park Promotion Policy for the year 2026 to…
Sunil Bharti Mittal has announced he will to step down as Chairman of Airtel Africa…
A shocking result comes out that Loni which is located near Ghaziabad has overtaken Delhi…
Did you know there is a prestigious award in mathematics often compared to the Nobel…