Amul launches micro ATM companies for dairy farmers | The Chhattisgarh

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June 16, 2021

The Chhattisgarh

Beyond The Region

Amul launches micro ATM companies for dairy farmers

WITH an goal to increase banking companies to its member milk producers, diary large Amul on Wednesday launched its micro ATM companies 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 via an digital knowledge seize (EDC) machine with finger scanner possibility. 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 via video-conferencing.
The service referred to as Amul Micro ATM system has been developed with joint efforts by GCMMF, fin tech agency Digivridhi with banking accomplice 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 perform as its banking correspondent whereas Digivridhi will act as bridge between the financial institution and the village cooperative society.

“By adopting the Micro ATM expertise, 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 stated that lack entry to digital banking expertise in distant villages had prompted Amul to take the banking companies to its village cooperative societies. “There are three primary benefit of the venture – enhance in transparency in all monetary transactions in addition to credit score worthiness of particular person which might be useful for them for availing any form of mortgage. It is going to additional domesticate behavior of saving,” the discharge quoted the MD as saying.
“Rajkot dairy union has 892 village stage milk cooperative societies and for lack of entry to banking companies, round 20 per cent of those societies don’t have any possibility however to pay their member milk producers exhausting 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, informed The Indian Specific, including, “Initially, we’re launching this service in 14 villages on pilot foundation. If the companies stay a hit, Amul might prolong it to different villages.”

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