The National Dairy Development Board (NDDB) has sealed a pivotal Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to bolster financial support for beneficiary organizations (BOs) in the cooperative dairy sector.
This includes milk unions/federations, multi-state cooperatives, and producer-owned institutions.
Executives S Regupathi of NDDB and Dipankar Mahapatra of PNB inked the deal in the presence of NDDB Chairman Dr. Meenesh Shah.
The 5-year agreement aims to enhance dairy infrastructure development, vital for meeting the escalating demand for milk and milk products.
The collaboration will see NDDB endorsing eligible BOs to PNB for financing, along with technical and advisory assistance. PNB, in turn, will extend financial aid as per RBI and internal guidelines to fortify dairy infrastructure and related facilities.