On 3rd March 2021, Karnataka Vikas Grameena Bank (KVGB) signed a Memorandum of Understanding(MoU) with Our Food Private Limited, Visakhapatnam, Andhra Pradesh for arranging cost effective food processing units to farmers through bank loan.
Objective:
Our Food will assist the farmers to set up processing units and will also procure the processed products and sell them to bulk buyers.
Features of the MoU:
i.Under this MoU, the vendor will ensure the supply, delivery and installation of high quality, standardised and branded equipment as the needs of the farmers.
ii.This will also ensure the purchase of the processed products.
Key Points:
i.Our Food purchases the processed products from the farmers and sells them on its tech platform, this enables the farmers to get 20% to 25% more than the market price.
ii.The goal of our food is that the farmers should sell their produce for a better price by selling the processed produce instead of raw produce.
Recent Related News:
On January 12, 2021 Karnataka Vikas Grameena Bank (KVGB) has signed a Memorandum of Understanding(MoU) with Jai Kisan, a rural-focused fintech platform of Greenizon Agritech Consultancy Pvt Ltd to expand access to financial services for individuals and businesses in Karnataka, including farmers and non-farmer entrepreneurs.
About Our Food Pvt Ltd:
Our Food is a tech based agribusiness platform based in Telangana, Andhra Pradesh, Madhya Pradesh, Maharashtra and Karnataka.
MD– Bala Reddy
Head Office– Hyderabad, Telangana
About Karnataka Vikas Grameena Bank (KVGB):
Chairman– P Gopi Krishna
Headquartered– Dharwad, Karnataka
