Milma, Kerala Bank sign MoU to extend credit
Milma, aimed at enhancing credit flow to the dairy sector, has signed an MoU with Kerala Bank to ramp up credit support to dairy farmers.
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.
The partnership facilitates the implementation of Milma’s Ksheera Mithra Credit scheme, under which loans up to ₹3 lakh will be made available for farmers at a low interest rate. It also envisages a cash credit scheme of up to ₹1 lakh for franchisees distributing Milma’s products based on their stock or 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 state’s milk production,” Milma Chairman KS Mani said. Milma has been implementing several schemes to increase the State’s milk production and support the welfare of dairy farmers. This collaboration between the two leading cooperative entities will further strengthen efforts to enhance milk production and support dairy farmers, he said.
Kerala Bank is happy to partner with Milma, which is a leading cooperative institution of Kerala that supports dairy farmers across the state and works relentlessly for their welfare, Gopi Kottamurickkal said.