Amul offers Micro ATM payment for dairy farmers
Anandpara, a small village in Rajkot district with a population of around 4,000 and milk procurement of 2,000 liters per day, has created history. Anandpara Village Dairy Co-operative Society of Rajkot milk union has adopted new way of digitalisation by installing its first Micro ATM payment centre at the doorsteps of milk producer members. Rajkot District Co-operative Milk Producers’ Union Limited, Gopal Dairy which is affiliated dairy union of Amul, has taken the initiatives and taken concrete steps to digitalise its rural economy.
On this occasion, Shri Gordhanbhi Dhamaliya, chairman, Rajkot Dairy has virtually inaugurated the AADHAR based Amul Micro ATM facility for the milk pouring members of Anandpara Village society. He said that any member can visit the milk society and withdraw money through the Amul Micro ATM and get the payment immediately. It is a big relief for farmers as members need not visit the bank, which incurs time and travelling costs. He also mentioned that the transactions are safe and there is no need for any type of credit or debit card as the entire transaction is based on thumb impressions.
Shri Valamjibhai Humbal, vice chairman, Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) (Amul) congratulated the team from Rajkot Dairy for its implementation of such a unique project and added that this project will give confidence to small, marginal and landless farmers, as well as cultivate saving habit for future needs.
Shri Shamalbhai Patel, chairman, Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) (Amul) also attended the function virtually. He said that member unions of GCMMF will roll out Amul Micro ATM project in all village cooperative societies at the earliest opportunity.
Dr R S Sodhi, managing director, Gujarat Co-operative Milk Marketing Federation Limited (GCMMF) (Amul) said that lack of digital banking technology in remote villages inspired the project. As part of the project, around 4,000 village milk cooperative societies across Rajkot, Surat, Bharuch and Surendranagar districts were surveyed to get an idea about the actual difficulties faced by them. He added that during demonetisation time, member unions of GCMMF had opened more than 25 lakhs bank accounts for milk producer members. Dr Sodhi stated three main advantages of the project: increase of transparency in all financial transactions; increase of credit worthiness of individuals looking to take out loans; and encouraging individuals to get into the habit of saving.
Shri Vinod Vyas, managing director, Rajkot Dairy, has conveyed his sincere thanks to all chairmen and managing directors who attended the function. He has also stated that under the project, not only milk producer members but all villagers will be benefited. He congratulated the dedicated staff of Rajkot dairy, Digivridhi (Fintech) and Federal bank for successful implementation of the pilot project.
Amul Micro ATM system has been developed with joint efforts by GCMMF (Amul) Fintech Company, Digivridhi with banking partner Federal Bank who arranged the cash delivery at villages which was the key challenge of this project. Shri Raghvan from Digividhhi, executive director, Federal Bank, Shri Atul Kumar Agrawal, senior general manager (Finance), GCMMF were also present on the occasion.
Member unions of GCMMF are already making digital payment of around Rs. 140 to Rs. 150 crores per day to its village societies.