Thiruvananthapuram: In a significant partnership that enhances the credit flow to the dairy sector, Milma today 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, in the presence of Milma Chairman KS Mani and Kerala Bank President Gopi Kottamurickkal at a function at the Kerala Bank headquarters.
The partnership facilitates 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, Gopi Kottamurickkal said.
Hailing Milma’s initiatives towards expanding the market for its products, Kottamurickkal said the inauguration of the dairy whitener plant at Moorkkanad in Malappuram is the latest in that direction.
Milma Marketing Consultant Sreejith Nair, Assistant Manager (Finance) Vimal Dev and senior management of Kerala Bank attended the function.
