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Amul launches micro ATM services for dairy farmers

WITH an purpose to increase banking providers to its member milk producers, diary large Amul on Wednesday launched its micro ATM providers from Anandpar village in Rajkot Wednesday.

The service was launched with the secretary of Anandpar village cooperative milk producers society related to Gopal Dairy (Rajkot District Cooperative Milk Producers Union Restricted) facilitating money withdrawal by way of an digital knowledge seize (EDC) machine with finger scanner choice. Shamal Patel, chairman of Gujarat Cooperative Milk Advertising Federation (GCMMF), vice-chairman Valamji Humabal, GCMMF managing director R S Sodhi and Gopal Dairy chairman Gordhan Dhameliya attended the occasion by way of video-conferencing.

The service known as Amul Micro ATM system has been developed with joint efforts by GCMMF, fin tech agency Digivridhi with banking associate Federal Financial institution. As a part of the association, the Federal Financial institution would ship money to the Anandpar village cooperative society on 9, 19 and 29 of each month and secretary of the village cooperative would operate as its banking correspondent whereas Digivridhi will act as bridge between the financial institution and the village cooperative society.

“By adopting the Micro ATM know-how, milk producer members are linked with digital cost system… Member unions of GCMMF will roll out Amul Micro ATM venture in all village cooperative societies on the earliest. We’re working for this venture for fairly a while and it’s a matter of pleasure for us to fulfil “Digital India” imaginative and prescient of our Hon’ble Prime Minister,” an official launch from Amul quoted Patel as saying.

Addressing the occasion, Sodhi mentioned that lack entry to digital banking know-how in distant villages had prompted Amul to take the banking providers to its village cooperative societies. “There are three foremost benefit of the venture – enhance in transparency in all monetary transactions in addition to credit score worthiness of particular person which might be helpful for them for availing any type of mortgage. It would additional domesticate behavior of saving,” the discharge quoted the MD as saying.

“Rajkot dairy union has 892 village degree milk cooperative societies and for lack of entry to banking providers, round 20 per cent of those societies haven’t any choice however to pay their member milk producers arduous money for pouring milk within the dairy. With the micro ATM service, these farmers will now have the choice of getting their dues credited to their financial institution accounts and withdraw as a lot money anytime they need,” Vinod Vyas, managing director of Gopal Dairy, instructed The Indian The Press Reporter, including, “Initially, we’re launching this service in 14 villages on pilot foundation. If the providers stay successful, Amul could lengthen it to different villages.”

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