KVG Bank to assist farmers arrange processing models

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In a bid to assist farmers arrange value efficient processing models, the Karnataka Vikas Grameena Bank (KVGB) has signed a Memorandum of Understanding (MoU) with Our Food Pvt. Ltd., Visakhapatnam.

According to the MOU signed just lately, the seller will guarantee provide, supply and set up of top of the range, standardised and branded tools/equipment as per the requirement of the farmer/farmer franchisee, and likewise buy of processed merchandise. The distributors additionally guarantee common restoration in direction of such mortgage accounts and likewise assist the financial institution in finish utilisation of the mortgage, a press launch stated.

The MOU was signed within the presence of financial institution chairman P. Gopi Krishna, normal supervisor Chandrashekhar D. Moro, and managing director of M/s Our Food Pvt. Ltd. Bala Reddy.

Mr. Krishna stated there was want for having MoUs with huge corporations for expertise and advertising and noticed that lack of such agreements will create issues of promoting the agriculture produce.

Mr. Krishna stated that by way of financial institution mortgage the agency wouldn’t solely prolong help in organising processing models but in addition in procuring the processed supplies and promote it to bulk consumers.

Mr. Reddy stated the corporate would encourage unemployed educated youths to determine processing models as per native necessities. Under the MOU, the corporate would guarantee to the farmers 20% and 25% greater than the market fee.

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