IOB signs MoU with Amul and Richplus

Chennai: Indian Overseas Bank (IOB) has entered into a tripartite MoU with AMUL, India’s largest dairy cooperative, and Richplus, AMUL’s organic farming partner.

The MoU was formally signed on Friday by Vijaya N, GM, Indian Overseas Bank; Amit Vyas, MD, AMUL Dairy; and Ashok Sarrangan, MD, Richplus, in the es-teemed presence of Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank. This first-of-its-kind col-laboration between a major public sector bank and organic farming leaders aims to bring transformative benefits to farmers across India, especially in Tamil Nadu, where organic farming is steadily gaining ground.

Speaking on the occasion, Ajay Kumar Srivastava stat-ed: This partnership underscores our deep commitment to nation-building through sustainable agriculture. As part of this MoU, Indian Overseas Bank is targeting to onboard 1 lakh organic farmers. This outreach will be supported by a structured engagement strategy, providing farmers with access to credit, organic inputs, train-ing, certification, and market access, creating a comprehensive ecosystem for sustainable growth. We believe that healthy soil leads to healthy citizens, and or-ganic farming is central to achieving the vision of a Viksit Bharat.”

Amit Vyas, MD of AMUL, stated, “By combining our strengths, we can create a transformative journey for farmers, allowing them to embrace sustainable practices that enhance their livelihoods.”