Milma, aimed at enhancing credit flow to the dairy sector, has signed an MoU with Kerala Bank to ramp up credit support to dairy farmers.
The MoU was exchanged by Milma Managing Director Asif K Yusuf and Kerala Bank CEO Jorty M Chacko in the presence of Milma Chairman KS Mani and Kerala Bank President Gopi Kottamurickkal.
The partnership facilitates the implementation of Milmaβs Ksheera Mithra Credit scheme, under which loans up to βΉ3 lakh will be made available for farmers at a low interest rate. It also envisages a cash credit scheme of up to βΉ1 lakh for franchisees distributing Milmaβs products based on their stock or sales turnover.
βThis is a significant partnership that acknowledges the immense potential of Keralaβs dairy sector. The agreement will promote entrepreneurship in the dairy sector and increase the stateβs milk production,β Milma Chairman KS Mani said. Milma has been implementing several schemes to increase the Stateβs milk production and support the welfare of dairy farmers. This collaboration between the two leading cooperative entities will further strengthen efforts to enhance milk production and support dairy farmers, he said.
Kerala Bank is happy to partner with Milma, which is a leading cooperative institution of Kerala that supports dairy farmers across the state and works relentlessly for their welfare, Gopi Kottamurickkal said.
Source: Business Line
