HDFC Bank signs MoU with LEAF to support farmers
To provide financial access and inclusion to over 4 Lakh farmers
With
the MoU, HDFC Bank will work together with LEAF Farmers Network (LFN) in the
operational areas under LEAF; primarily Andhra Pradesh, Karnataka, and Tamil
Nadu. This agreement is signed to expand the financial accessibility and inclusivity
of farmers and the scope of the Farmer Producer Organization (FPO) ecosystem.
Over 4 Lakh farmers across the three states are expected to benefit from this
association.
The MoU was signed by Mr.
Anil Bhavnani, Sr Executive Vice President, and Head Rural Banking, RBB, HDFC
Bank and, Mr. Palat Vijayaraghavan, Founder & CEO, Lawrencedale Agro Processing
India (LEAF), in the presence of Ms. Vandita Shively, Go-To-Market Strategy, Lead,
HDFC Bank.
LEAF has also partnered with Mastercard to
launch LFN (LEAF Farmers Network). This partnership will transform the lives of
Indian farmers by leveraging technology aided by human intervention to solve
multiple challenges of transparency in India’s rural ecosystem. HDFC Bank will
also leverage on this relationship by getting into an agreement with LEAF.
“Our partnership with LEAF will create great
outcomes. It will improve and provide financial access and inclusion to the entire
rural ecosystem, drive impact and create shared success”, said
Mr. Anil Bhavnani, Sr Executive Vice President, and Head Rural Banking, RBB,
HDFC Bank.
“Our mission at LEAF is to bring about positive
impact to millions of marginalized, small land-hold farmers in India. Majority
of our LEAF Farmers Network (LFN) are pre-dominantly located in the interior
rural belts where there is abundance of fertile farming lands. HDFC Bank is one
of the largest banking institutions in the country and their growing presence
in the rural and semi urban belts makes them the perfect player to partner
with. We are thrilled to partner with HDFC Bank in our joint effort of
promoting the upliftment of the rural economy”,
said Mr. Palat Vijayaraghavan, Founder & CEO, Lawrencedale Agro
Processing India (LEAF).
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