Thiruvananthapuram: In a significant partnership that enhances the credit flow to the dairy sector, Milma has signed a Memorandum of Understanding (MoU) with Kerala State Cooperative Bank (Kerala Bank). The MoU was exchanged by Milma Managing Director, Asif K Yusuf and Kerala Bank CEO, Jorty M Chacko.
The partnership facilitates the implementation of Milma’s Ksheera Mithra Credit scheme under which loans up to Rs 3 lakh will be made available for farmers at a low interest rate. It also envisages a cash credit scheme of up to Rs 1 lakh for franchisees distributing Milma’s products based on their stock/ sales turnover.
“This is a significant partnership that acknowledges the immense potential of Kerala’s dairy sector. The agreement will promote entrepreneurship in the dairy sector and increase the milk production of the state,” Milma Chairman, K S Mani said on the occasion. “Milma has been implementing several schemes for increasing the state’s milk production and for the welfare of the dairy farmers. This collaboration between two leading cooperative entities will further strengthen the efforts in that direction,” he added.
Kerala Bank is happy to partner with Milma, which is a leading cooperative institution of Kerala that supports the dairy farmers across the state and works relentlessly for their welfare, Kerala Bank President, Gopi Kottamurickkal said.
Hailing Milma’s initiatives towards expanding the market for its products, Shri Kottamurickkal said the inauguration of the dairy whitener plant at Moorkkanad in Malappuram is the latest in that direction.