CHENNAI: Indian Overseas Bank has entered into a tripartite Memorandum of Understanding (MoU) with Amul, India’s largest dairy cooperative, and Richplus, Amul’s organic farming partner.
The MoU was signed on Thursday in Chennai. This collaboration between a major public sector bank and organic farming leaders aims to bring transformative benefits to farmers across India, especially in Tamil Nadu, where organic farming is steadily gaining ground.
Ajay Kumar Srivastava, MD-CEO of Indian Overseas Bank, said "this partnership underscores our deep commitment to nation-building through sustainable agriculture. Indian Overseas Bank is targeting to onboard 1 lakh organic farmers. This outreach will be supported by a structured engagement strategy, providing farmers with access to credit, organic inputs, training, certification, and market access, creating a comprehensive ecosystem for sustainable growth."
Amit Vyas, MD, Amul, said "this partnership is a remarkable step toward reshaping Indian agriculture. By combining our strengths, we can create a transformative journey for farmers, allowing them to embrace sustainable practices that enhance their livelihoods."
Ashok Sarrangan, MD of Richplus, said "we believe this collaboration will set a benchmark for sustainable farming practices in India. Our collective efforts will ensure that farmers are not only equipped with resources but also inspired to innovate for a greener future."
To scale the initiative, a series of organic farming conclaves will be organised, beginning with a major FPO meet in Madurai in June, followed by events across Tamil Nadu.