Stellapps, IPPB tie up to drive financial inclusion for dairy farmers

Dairy-tech get started-up Stellapps has tied up with India Post Payments Financial institution (IPPB) to

Dairy-tech get started-up Stellapps has tied up with India Post Payments Financial institution (IPPB) to digitise the milk procurement worth chain and endorse banking facilities at milk selection centres. As component of memorandum of knowledge, a pilot challenge has been launched in 4 villages with two hundred farmers at a greenfield dairy in Tamil Nadu’s Dharmapuri district.

As a result of the tie-up, Stellapps is aiming to provide dairy farmers in the economic mainstream across villages in Tamil Nadu, Odisha, Bihar, and Rajasthan in the coming months, the enterprise mentioned in a statement. IPPB will supply entry to dollars and other banking services like deposits, Aadhar-enabled payment services, domestic funds transfer, invoice payments, and other connected services. Stellapps mentioned it programs to leverage IPPB’s final-mile distribution community of above one.36 lakh put up workplaces and virtually one.9 lakh postmen and Grameen Dak Sevaks, outfitted with smartphones and biometric products.

Stellapps had just lately launched a completely automated electronic immediate farmers payment product for dairy processors, which include cooperatives termed “mooPay”.

J Venkatramu, MD & CEO, IPPB, mentioned, “This strategic partnership aims to generate considerable prospects and extend entry to a assortment of economic services for hundreds of thousands of unbanked and underbanked dairy farmers. With dairy source chain becoming an crucial component of the rural financial state, IPPB is fully commited to empowering dairy farmers.”

“The partnership with IPPB will assist us enfold additional farmers with credit and insurance policies services and get the electronic financial state to Indian rural villages,” mentioned Ranjith Mukundan, CEO, Stellapps.

Stellapps is introducing IPPB as a result of its dairy associates the place the immediate farmer payment methods have been carried out. The local put up workplace will designate an official who will stop by the respective milk selection centre for giving banking services to farmers. Farmers also have an solution of travelling down to the nearest put up workplace and avail the services, it mentioned.