Kwality Ltd Signs MoU with Bank of Baroda for Rs 4000 Cr Loan to Farmers
Mumbai based dairy firm Kwality Ltd has signed an MoU with Bank of Baroda on January 20, 2017 to provide Rs. 4000 crore loans to one lakh farmers out of the established networks from whom the company procures milk. The MoU aims to provide financial assistance to improve socio-economic lives
of farmers and encourage them towards digitisation. Kwality has a network of about 3.25 lakh across about 4,500 villages in largest milk producing states of Uttar Pradesh, Haryana and Rajasthan. The remaining farmers would be covered in subsequent phases over a period of time.
iv. The funds will be available at preferential rate and will be utilised mainly for purchasing of milching animals, smartphone and two wheelers.
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