Sttate-owned Punjab National Bank on Saturday said it has partnered with Gujarat Cooperative Milk Marketing Federation Ltd., better known as Amul, to offer financial services to federation's supply network pan-India under the Mudra scheme.
A memorandum of understanding to this effect was signed between PNB and Amul on July 1, the bank said in a statement.
Through small ticket financing under Mudra, the bank will be financing Amul's retailers, wholesale dealers/area milk distributors and exclusive Amul preferred outlets-milk parlours, it said.
Other services will include integrating various digital channels like QR codes, point of sale, UPI, etc., supply chain finance and EMI collection digitally, and providing working capital limits, among others, it said.
By the association, both the partners are aiming to provide support to more than 11 lakh retailers, wholesale dealers and others, it added.
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