Karnataka Bank has partnered with fintech company Digivriddhi (DGV) to offer a host of financial services catering to the needs of dairy farmers and milk societies.
The services will be made available at village dairy co-operative societies, associated with milk unions of Karnataka Milk Federation (KMF). To begin with, the services are now made available to milk societies associated with the Chamarajanagar Milk Union and will be rolled out to farmers of other unions in rapid succession, a release from the bank here said.
Speaking on the initiative H. Srikrishnan, Managing Director and Chief Executive Officer of the bank said: “We are accelerating our fintech initiatives and collaboration with partners across various verticals with a view to enhancing access to markets and customer experience. This partnership with DGV will provide seamless and innovative end-to-end digital product offerings to the dairy farmers and provide access to institutional credit, while easing and digitizing payments across the dairy value chain.”
Speaking at the launch of the facility in Bengaluru recently, Ragavan Venkatesan, founder and CEO of DGV said: ”DGV Pay product simplifies the payments value chain for dairy farmers and micro-enterprises helping with their basic banking needs, including opening of bank accounts. DGV Money product is built with a unique underwriting mechanism that facilitates digital working capital and bovine loans to farmers.”
Published - January 10, 2024 08:25 pm IST
