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

Dairy-tech commence-up Stellapps has tied up with India Post Payments Financial institution (IPPB) to digitise the milk procurement worth chain and boost banking facilities at milk selection centres. As component of memorandum of comprehending, a pilot project has been introduced in 4 villages with 200 farmers at a greenfield dairy in Tamil Nadu’s Dharmapuri district.

As a result of the tie-up, Stellapps is aiming to bring dairy farmers in the financial mainstream across villages in Tamil Nadu, Odisha, Bihar, and Rajasthan in the coming months, the organization claimed in a assertion. IPPB will supply accessibility to cash and other banking providers like deposits, Aadhar-enabled payment providers, domestic revenue transfer, bill payments, and other connected providers. Stellapps claimed it programs to leverage IPPB’s previous-mile distribution community of over one.36 lakh write-up places of work and approximately one.nine lakh postmen and Grameen Dak Sevaks, geared up with smartphones and biometric devices.

Stellapps experienced a short while ago introduced a absolutely automatic electronic immediate farmers payment solution for dairy processors, together with cooperatives named “mooPay”.

J Venkatramu, MD & CEO, IPPB, claimed, “This strategic partnership aims to generate important prospects and expand accessibility to a assortment of financial providers for millions of unbanked and underbanked dairy farmers. With dairy supply chain getting an crucial component of the rural financial state, IPPB is fully commited to empowering dairy farmers.”

“The partnership with IPPB will enable us enfold far more farmers with credit and insurance providers and get the electronic financial state to Indian rural villages,” claimed Ranjith Mukundan, CEO, Stellapps.

Stellapps is introducing IPPB as a result of its dairy partners where the immediate farmer payment options have been executed. The area write-up workplace will designate an official who will pay a visit to the respective milk selection centre for supplying banking providers to farmers. Farmers also have an choice of travelling down to the nearest write-up workplace and avail the providers, it claimed.