Amul launches micro ATM providers for dairy farmers

WITH an goal 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 Limited) facilitating money withdrawal by way of an digital knowledge seize (EDC) machine with finger scanner possibility. Shamal Patel, chairman of Gujarat Cooperative Milk Marketing 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 companion Federal Bank. As a part of the association, the Federal Bank 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 technology, milk producer members are linked with digital payment system… Member unions of GCMMF will roll out Amul Micro ATM project in all village cooperative societies at the earliest. We are working for this project for quite some time and it is a matter of pride 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 main advantage of the project – increase in transparency in all financial transactions as well as credit worthiness of individual which would be beneficial for them for availing any kind of loan. It will further cultivate habit of saving,” the discharge quoted the MD as saying.
“Rajkot dairy union has 892 village level milk cooperative societies and for lack of access to banking services, around 20 per cent of these societies have no option but to pay their member milk producers hard cash for pouring milk in the dairy. With the micro ATM service, these farmers will now have the option of getting their dues credited to their bank accounts and withdraw as much cash anytime they want,” Vinod Vyas, managing director of Gopal Dairy, informed The Indian Express, including, “Initially, we are launching this service in 14 villages on pilot basis. If the services remain a success, Amul may extend it to other villages.”