Karnataka Bank Teams Up with Digivriddhi to Revolutionize Financial Services for Dairy Farmers
Source: The DairyNews
Karnataka Bank has entered into a strategic partnership with fintech firm Digivriddhi (DGV) to provide tailored financial services to dairy farmers and milk societies. Initially accessible to milk societies associated with Chamarajanagar Milk Union, these services will soon be extended to farmers across other unions under Karnataka Milk Federation (KMF).
Srikrishnan H, MD & CEO of Karnataka Bank, expressed enthusiasm about accelerating fintech initiatives, aiming to enhance market access and customer experience. This collaboration with DGV is expected to offer seamless digital products, facilitating institutional credit access for dairy farmers and digitizing payments within the dairy value chain.
Sekhar Rao, Executive Director of Karnataka Bank, emphasized the bank's robust legacy in the agricultural sector, highlighting its strong underwriting capabilities for loan disbursals. The partnership with DGV aims to strengthen this portfolio by introducing specific products and solutions tailored for the dairy sector.
Ragavan Venkatesan, Founder and CEO of DGV, expressed satisfaction with the new tie-up, designating Karnataka Bank as their preferred banking partner for Southern India. He elaborated on DGV's innovative products, including 'DGV PAY,' streamlining payments for dairy farmers, and 'DGV MONEY,' providing digital working capital and bovine loans through a unique underwriting mechanism.
Speaking on the formal launch of the facility, Ragavan Venkatesan, founder and CEO of DGV said, “Karnataka Bank is their preferred banking partner for Southern India.”
He also said, “Livestock management industry presents a $70-80 billion opportunity with significant gaps in bovine discovery, pricing and productivity. ‘DGV CONNECT’ addresses these gaps with embedded financing options and is progressively becoming a one-stop-platform, meeting all the needs of Indian dairy farmers.”
Sekhar Rao, Executive Director of Karnataka Bank, emphasized the bank's robust legacy in the agricultural sector, highlighting its strong underwriting capabilities for loan disbursals. The partnership with DGV aims to strengthen this portfolio by introducing specific products and solutions tailored for the dairy sector.
Ragavan Venkatesan, Founder and CEO of DGV, expressed satisfaction with the new tie-up, designating Karnataka Bank as their preferred banking partner for Southern India. He elaborated on DGV's innovative products, including 'DGV PAY,' streamlining payments for dairy farmers, and 'DGV MONEY,' providing digital working capital and bovine loans through a unique underwriting mechanism.
Speaking on the formal launch of the facility, Ragavan Venkatesan, founder and CEO of DGV said, “Karnataka Bank is their preferred banking partner for Southern India.”
He also said, “Livestock management industry presents a $70-80 billion opportunity with significant gaps in bovine discovery, pricing and productivity. ‘DGV CONNECT’ addresses these gaps with embedded financing options and is progressively becoming a one-stop-platform, meeting all the needs of Indian dairy farmers.”
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