India aims to conserve camels and unlock potential of camel milk industry
In order to digitise payments in the milk industry, fino payments bank ha stied up with Gokul Dairy and Mother Dairy.The bank will open accounts for milk pourers who collect milk and deliver it at the milk collection centres across villages.
The fees paid to the milk pourers will now be paid digitally into their bank accounts directly which they will be able to withdraw and use for transactions through a RuPay debit card that will be issued to them. Even the ones with smartphones will be able to use the mobile banking app of Fino named BPay.
In a statement to the media, Fino said that as the largest milk producing nation with over 160 million tonnes of output annually, India has over 15 million milk producers associated with more than 150,000 village dairy cooperatives.
Rishi Gupta, MD & CEO, Fino Payments Bank said, “As the torchbearers of White Revolution, the hard working milk pourer segment across the country deserves to get the benefits of digital banking. While the segment plays a vital role in the nation’s growth story, it also needs to be financially secure. With this thought, we have focused on the dairy sector to enable digital payments and going forward we will explore other agro and allied sectors that need digitized payments and banking services.”
“With each dairy having thousands of MCCs, Fino plans to add these centres to its banking network thereby increasing its reach and providing enhanced customer convenience. This will help villagers against the earlier situation where people had to travel quite a distance to the nearest bank to withdraw money at extra cost and loss of income”, he added.