Milk Mantra, SBI Tie Up for Easy Loans

Published: 10th January 2015 06:04 AM  |   Last Updated: 10th January 2015 06:04 AM   |  A+A-

BHUBANESWAR: Odisha’s first dairy startup Milk Mantra has tied up with State Bank of India for facilitating easy loans to its network farmers as part of its ethical milk sourcing programme.

An MoU was signed between the company and SBI at the bank’s main branch here on Friday.

Milk Mantra has more than 30,000 network farmers and has been facilitating cattle loans, health services, artificial insemination services and cattle feed, for them.

It has already disbursed loans worth around Rs.1.5 crore to its network farmers for cattle as well as allied needs to increase production and income.

Speaking on the occasion, SBI CGM Krishna Mohan Trivedi said, “The bank is hopeful of associating huge number of rural small and micro-level self-employed people through this agreement.”

Founder and Managing Director Milk Mantra Srikumar Mishra said, “We feel proud that we are one of the few dairy companies in India that have provided extension services to our farmers. This has resulted in dairy development in the State. Our association with SBI will go a long way in ensuring Odisha’s unrealised potential in healthy dairying.”

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