Indian Bank Partners with Parag Dairy to Empower Milk Producers
Indian Bank partnered with Parag Dairy to provide collateral-free digital loans to milk producers, promoting financial self-reliance among farmers.
Parag General Manager Vikas Balyan and Pranesh Kumar from Indian Bank signed the MOU, which was later exchanged between the two organizations. Several officials, including Parag Officer Nilesh Srivastava and Mawai Branch Manager of Indian Bank Amit Verma, were present at the event.
Speaking at the event, Pranesh Kumar highlighted Uttar Pradesh's rapid development and reiterated Indian Bank’s commitment to supporting the state’s progress toward becoming a smart city hub. He said, “Through this MOU, we aim to offer collateral-free agriculture loans of up to ₹2 lakh to farmers supplying milk to Parag Dairy via digital channels. This will help enhance dairy production and promote economic self-reliance among farmers.”
Extensive Banking Network in Uttar Pradesh
Pranesh Kumar welcomed Parag officials and shared details about Indian Bank’s growing presence in Uttar Pradesh. The bank currently operates 1,081 branches, 536 ATMs, 4,343 BC locations, and 6,469 touchpoints across the state. He added that Indian Bank is continuously innovating its digital products to meet customer needs with fast and efficient services.
Chief General Manager of Indian Bank, Sudhir Kumar Gupta, congratulated both parties on the successful partnership and encouraged farmers to take full advantage of the new loan scheme. He emphasized the importance of digital finance in promoting rural development and boosting milk production in the state.
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