Samunnati Signs Co-lending Partnership with IndusInd Bank

Featured in The Times of India

CHENNAI: Agri value chain financier Samunnati has entered into a co-lending agreement with IndusInd Bank to expand credit accessibility and market linkages for farmers producer organisations (FPOs) across the country.

This collaboration will provide Rs. 150 million as an initial amount to be disbursed exclusively to farmer collectives. The primary aim is to ensure the self-sustainability and profitability of farmer collectives and their members, comprising mostly small-holder farmers.

“This strategic alliance will enable easy access to working capital to Samunnati’s growing network of 1,500 farmer collectives with a member base of six million farmers,” the company said in a statement.

“Our collective goal with this alliance is to improve the flow of credit to the underserved agri community at an affordable cost, by leveraging the dual advantage of funds at a lower cost and Samunnati’s extensive FPO network,” AnilKumar SG, Founder and CEO, Samunnati, said.

In November 2020, the Reserve Bank of India (RBI) issued guidelines on co-lending model between scheduled commercial banks and NBFCs. IndusInd Bank is among the first scheduled commercial banks to participate in such a co-lending program aimed at mainstreaming FPOs as an asset class.

Leave a comment

You might also like

Samunnati acquires FPO-centric agri supply chain platform Kamatan

12 April 2021

Samunnati acquires FPO-centric agri supply chain platform Kamatan

Featured in Your Story Samunnati, an agri value chain enabler, on Monday announced the acquisition of farmer-centric agri supply chain platform,...

Triodos demonstrates financial inclusion for the agri community through Samunnati

19 May 2020

Triodos demonstrates financial inclusion for the agri community through Samunnati

Featured in Triodos Investment Management Triodos Investment is a global investor driven by making impactful investments that help the world become...

Dvara E-Registry and Samunnati Partner to Provide Services to Farmers and FPOs

26 August 2021

Dvara E-Registry and Samunnati Partner to Provide Services to Farmers and FPOs

Featured in APN NEWS Dvara E-Registry has announced a new partnership with Agri value chain solutions provider Samunnati Financial Intermediation and...

Bumper Harvests: Blockchain can benefit the agricultural ecosystem

15 November 2021

Bumper Harvests: Blockchain can benefit the agricultural ecosystem

Featured in FINANCIAL EXPRESS Several tech innovations including AI and ML, are being increasingly launched by enterprises to help farmers enhance...