State-owned Punjab National Bank (PNB) on Saturday mentioned it has partnered with Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL), higher generally known as Amul, to supply monetary companies to federation’s provide network pan-India underneath the MUDRA scheme.
A memorandum of understanding to this impact was signed between PNB and GCMMFL (Amul) on July 1, the financial institution mentioned in a press release.
Through small ticket financing underneath MUDRA, the financial institution will likely be financing Amul’s retailers, wholesale sellers/space milk distributors and unique Amul most well-liked outlets-milk parlours, it mentioned.
Other companies will embrace integrating numerous digital channels like QR codes, POS (level of sale), UPI (Unified Payment Interface), and so forth., provide chain finance and EMI assortment digitally, and offering working capital limits, amongst others, it mentioned.
By the affiliation, each partners are aiming to present support to greater than 11 lakh retailers, wholesale sellers and others, it added.
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