PNB partners with Amul to support dealership network under MUDRA scheme
Through the association, both partners aim to provide support to more than 11 retailers, wholesalers, and more
State-owned Punjab National Bank (PNB) said on Saturday that it has partnered with Gujarat Cooperative Milk Marketing Federation Ltd (GCMMFL), better known as Amul, to provide financial services to the federation’s all-India supply network under the MUDRA scheme.
The bank said in a statement that a memorandum of understanding to this effect was signed between PNB and GCMMFL (Amul) on July 1.
Through small ticket financing under MUDRA, the bank will finance Amul’s retailers, milk wholesalers/distributors in the region and Amul’s preferred milk outlets.
Other services will include integrating various digital channels such as QR codes, POS (Point of Sale), UPI (Unified Payment Interface), etc., supply chain financing and collecting EMI digitally, providing working capital limits, among others.
She added that both partners aim, through the association, to provide support to more than 11 retailers, wholesalers, and others.
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First published: Jul 01 2023 | 9:29 p.m ist