SBI signed an MoU with Pondicherry Co-op Milk Producers’ Union Ltd

SBI signed an MoU with Pondicherry Co-op Milk Producers’ Union Ltd

Question: Which of the following Indian bank inked a memorandum of understanding (MOU) with the Puducherry Cooperative Milk Producers Union (PONLAIT) to provide loan to individual dairy farmers?
(a) ICICI
(b) HDFC
(c) SBI
(d) Axis Bank
Answer: (c)
Related Facts:

  • The State bank of India (SBI) has signed an MoU with Pondicherry Co-op. Milk Producers’ Union Ltd (PONLAIT) for financing individual dairy farmers up to Rs 3 Lakh.
  • The Loan will be made available through YONO application of the SBI Bank.
  • SBI has introduced a technology product, named ‘SAFAL- Simple And Fast Agriculture Loan’ for financing individual Dairy farmers, who are supplying milk to commercial dairies on a regular basis.

BY: AMIT GUPTA

Reference: https://www.business-standard.com/article/companies/state-bank-of-india-ponlait-ink-pact-on-loan-to-dairy-farmers-121112201010_1.html