KYC drive on concessional milk cards saves Aavin ₹36 lakh a month

80,000 old milk cards weeded out in the past one month

The Tamil Nadu Cooperative Milk Producers’ Federation, which sells dairy products under the Aavin brand, has managed to weed out 80,000 old monthly cards by updating know your customer (KYC) details over the past month.

With this, the dairy cooperative would be saving ₹36 lakh a month, its Managing Director K.S. Kandasamy said here on Monday.

The old cards belonged to families that had either left the city or had not renewed them for other reasons and were being misused by milk vendors who were buying milk cards at subsidised rates and selling milk at market prices, he said.

Mr. Kandasamy said the deadline for submission of KYC had been extended by another three months and consumers need not share details such as income, educational qualification and Aadhaar number.

Consumers had objected to short time given to submit KYC forms and the requirement to share Aadhaar details.