SBI disburses Rs. 13 lakh Loan under SBI-Milk Mantra MoU
Further expanding its ground level work in Odisha to usher in dairy development in the western region of the state, Milk Mantra, the fastest growing dairy company in the country has taken the initiative to organize a Loan Disbursement Fair at Nagenpalli Village at Bargarh aimed at financially empowering its network farmers by providing them access to capital. As part of its pioneering Ethical Milk Sourcing (EMS) programme, the company through SBI Bheden branch disbursed around Rs. 13 lakhs among 13 local farmers on 21st April 2015 under ‘SBI-Milk Mantra MoU’ tripartite agreement.
“The tripartite loan disbursement initiative was started under our unique Ethical Milk Sourcing programme in order to empower the network farmers. After successful implementation in the eastern part of the State, it’s being started here also. We hope the western Odisha farmers will show similar enthusiasm for the programme”, said Dr. Sakthivel Nagarajan, Vice President, and Sourcing of Milk Mantra.
Ensuring timely and fair payment for the farmers – Milk Mantra’s EMS programme is a first of its kind in dairy sector in India. Various extension services like artificial insemination, access to cattle loans from financial institutions, good quality cattle feed, and health camps etc have been instituted as part of the EMS programme.
Speaking on the occasion Mr. Srikumar Misra, Founder & Managing Director of Milk Mantra said, “We started Ethical Milk Sourcing programme three years back with an aim to bring sustainable impact in the dairy landscape of the state. Today more than 30,000 network farmers have been directly benefitted by fair, transparent and on time payment and our sustainable development platforms like this one on making cattle loans accessible to them. With key financial institutions aligning with us, we believe it will have deep impact on dairy development in Odisha.”
Among other notable members, Navalkishore Ambulaji Sharma, DGM, SBI Sambalpur Zone, Jogesh Chandra Sahu, Regional Manager, SBI Bargarh, Gobind Chandra Vangsingh, Chief Manager, SBI Bargarh were also present during the event and expressed their support for this one of a kind initiative by Milk Mantra.