IOB Conducts FPO Conclave at Madurai
Indian Overseas Bank joins hands with Amul and Richplus to promote organic farming and farmer financing, provisioning Rs 40 crore for 120 farmers at Madurai conclave.
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IOB sanctions Rs 40 crore for 120 farmers, signs MoU with Amul and Richplus at Madurai conclave
Infinite Seva, in collaboration with Indian Overseas Bank as the principal sponsor, and supported by Amul and Richplus, hosted a landmark FPO Conclave on “Empowering Farmers to Adopt Organic Farming” in Madurai today. The event witnessed participation from over 300 Farmer Producer Organisation’s Chairpersons from across Tamil Nadu and marked a key milestone in India’s ongoing mission to promote organic, climate-resilient agriculture. The event witnessed gathering more than 600 farmers across Tamil Nadu.
The conclave commenced with the ceremonial lighting of the lamp by the distinguished dignitaries. Shri Ajay Kumar Srivastava, Managing Director & Chief Executive Officer, Indian Overseas Bank, inaugurated the event as the Chief Guest.
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Shri Gopal Shukla - Amul Dairy India Head graced the occasion as the Special Guest.
Shri T. Dhanaraj, Executive Director, Indian Overseas Bank; Shri Ashok Sarangan, Managing Director, Richplus; and Shri R. Anand, Chief General Manager, NABARD (Tamil Nadu), participated as Guests of Honour.
“Indian Overseas Bank believes the future of Indian agriculture lies in environmentally conscious practices,” Shri Ajay Kumar Srivastava MD & CEO of Indian Overseas Bank said in his keynote address. “Through our FPO/FPC Financing Scheme offering loans up to Rs 10 crore and our Harit Kranti product tailored for organic farmers, we are strengthening farming livelihoods and advancing the nation’s climate goals. IOB is pleased to announce provisional sanctions today for 120 farmers under various agriculture schemes, amounting to Rs 40 crore he said. “He further lauded the collaboration with Amul and Richplus, saying, that this initiative is to create a comprehensive ecosystem for sustainable growth and build farmer confidence in adopting organic methods
Shri Gopal Shukla - Amul Dairy India Head, highlighted Amul’s long-standing commitment to farmer welfare and reiterating support for organic practices through robust procurement systems and fair price mechanisms.
Shri Ashok Sarangan, MD of Richplus, stressed the importance of traceability and quality assurance in organic produce. “We aim to make Tamil Nadu a frontrunner in certified organic farming by supporting farmers through quality inputs, technical know-how, and a reliable market,” he noted.
Presiding over the conclave, Ms Nalini Padmanabhan, Chairperson, Infinite Seva, described FPOs as “the pillars of agricultural development,” adding that the IOB–Amul–Richplus collaboration “will transform the adoption, value and economics of organic farming.”
The highlight of the conclave was to promote organic farming and to extend liberal bank finance to farmers. This type of approach is making IOB a front runner in sustainable farming finance.
The conclave laid a clear path forward for inclusive, eco-friendly agricultural development in line with government vision of Viksit Bharat.
IOB has entered an MoU with Amul and Richplus for promoting organic farming and has created a co branded card enable farmers to buy organic materials at special rate .
In the event FPO/FPC conclave during the event held at Madurai, IOB has put up stall in showcasing various agriculture farms Swami Nithyadipanda, Adyaksha Ramakrishna Math, Madurai graced the occasion
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