To help farmers set up cost-effective processing units, Karnataka Vikas Gramin Bank (KVGB) has established our food pvt. Ltd., Visakhapatnam.
According to the recently signed MoU, the seller will ensure the supply, distribution and installation of high quality, standardized and branded equipment / machinery as per the requirement of the farmer / farmer franchise, and also procure processed products. A press release stated that the sellers ensure regular collection of such loan accounts and also help the bank in the utilization of the loan.
Bank President P. Gopi Krishna, General Manager Chandrasekhar d. The MoU was signed in the presence of the Managing Director of Moro and M / s Our Food Private Limited. Ltd. Bala Reddy.
Shri Krishna said that there was a need to enter into a Memorandum of Understanding with large companies for technology and marketing and said that the lack of such agreements would create problems for marketing of agricultural produce.
Mr. Krishna said that through bank loans the firm will not only help in setting up processing units, but will also purchase and sell processed materials to bulk buyers.
Mr. Reddy said that the company will motivate unemployed educated youth to set up processing units as per local requirements. Under the MoU, the company will ensure farmers 20% and 25% above the market rate.
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